I asked two managers for documents last month and the structures came back completely different, and I can't decide which one is actually safer for a first check. The first is ope…
Simple numbers so anyone new can follow. Sale at $240,000, buyer puts $40,000 down, I carry $200,000 at 8.5 percent, amortized over 30 years with a balloon at year seven. Payment…
The sponsor is a storage operator I've never worked with. Three ground-up facilities, all climate controlled, roughly 78,000 net rentable square feet each. Total cost $41M, constr…
Someone asked me last week which number to check first on a hospitality deck when you've never done one, and I gave an answer I'm no longer sure about. I want to see if the room s…
I've got 60k that's earmarked for real estate exposure and no operating role in it either way, so the question is purely which wrapper. Option A is listed REITs. Daily pricing, se…
I've been building the buy list for six months and the screen finally spits out something I don't trust. What I rank on: forward deliveries as a percent of existing stock over the…
Trying to read a submarket and the published numbers and the property-level numbers don't agree at all. The market report says asking rents in this submarket are down 1.4% year ov…
I spent a weekend building a grid of every live offering I could see across three platforms. 41 offerings, 12 distinct sponsors. Four of those sponsors appear on more than one pla…
Four people are in a 31 acre hold I put together, 620k total, 380k of it theirs. It's raw ground on the edge of a growth path, we pay taxes and mow it and that's the whole busines…
I've been running numbers and looking at deals for a couple of years without pulling the trigger, and people around me have picked up on it. Two former coworkers, an uncle, and a…
I manage stabilized apartments, and an owner group has asked me to take on a converted office building post-completion. Reading their construction-period documents to understand w…
My firm does owner's representation and MEP coordination on renovation work. Last month we closed out our first conversion at real scale, a 1979 mid rise, 186,000 gross feet, 140…
Running the numbers on an open-end debt fund and I can't make the arithmetic close. Their book is 61 loans, weighted average coupon 8.9%, weighted average LTV 64%, all first mortg…
Two commitments due by the end of the quarter and I've only got $400,000 to split. Fund A, residential bridge, first lien. Coupons 10.5 to 11.5, average loan $480,000, roughly 900…
I've asked a lot of embarrassing questions in this room and here's what came out of it. I had 9,000 to put somewhere and no idea what I was doing. I spent most of last year readin…
I hold land and small long positions and I've been reading here for a while, and the advice splits cleanly enough that I want to see the vote. One camp says do a performing note f…
I've been reading a gap funding term sheet that a lender publishes as an example, and two lines on the same page seem to point in different directions. One says the loan is secure…
Posting this because the process was more useful than the outcome and I'd have wanted to read it two years ago. I had $60k that wasn't going into a property. Looked at four reside…
I've been looking at land and holding patterns mostly, and crowdfunding came up as a way to park capital while I wait. What I can't sort out is that some platforms take $10 or $50…
Signed up on two platforms last week. One took me straight in, 10 dollar minimum on a pooled fund. The other put a form in front of me asking me to certify income over 200k or a n…