I have roughly $300k to place across LP positions over the next 24 months, and my minimums run $25k to $50k, so call it six to eight checks. I keep drawing the same grid and getti…
I've been an LP in other people's deals for years and this was the first one where I was the sponsor, meaning I found it, underwrote it, signed the loan and answered the phone whe…
Small 6 unit came up two blocks from a building I already own. Asking 720k, in-place NOI 41k, so 5.7 percent before I put a dollar into it. It needed roofs on both structures and…
Numbers first. $200k sale, $20k down, $180k carried at 8%, 30 year amortization with a balloon at year five. Payment works out to about $1,320 a month and the balance at the ballo…
I've had 40 acres of mostly wooded ground for a long time, no improvements, a gravel access easement, and county zoning that allows one house per 10 acres. Asking 62k. The only se…
I've got eleven doors and a line of credit I'm not using, and a guy I've watched work for three years wants a capital partner. He's competent. Cheap crews, honest about mistakes,…
I've got two questions nobody will give me a straight answer on. First, if I'm actually negotiating the document rather than signing a form, what am I paying a lawyer? I've heard…
I spend most of my time on land, so this is outside my lane. What got my attention is that the pipeline for new apartments is contracting sharply and vacancy looks like it topped…
Going through a funder's doc package for a double close. A-B at $185k, B-C at $215k, flat fee $3,700, funds out and back the same day. The note is two pages, payable on demand tha…
Six months of nothing and then this one went through in a single morning, so I'll write down what it actually cost while I still remember. Small three bed in an older subdivision,…
A wholesaler at a meetup told me he pays his funder $2,800 a pop and would happily run a second one, and that with $100k I could be it. When I asked about licensing he said none n…
Under contract on a small three bedroom rental at 168,000, my first one, and my loan officer asked a question I couldn't answer. He pulled the county records and the person on my…
I've been researching instead of buying for a while and I decided the one thing I could do without capital was ask hard questions. So I wrote a one page request and sent it to fiv…
Sold a block of stock left over from an old employer and the gain is about $80k. My accountant laid out two paths and I keep flipping between them. Path one is rolling the gain in…
First LP allocation and I'm stuck on a structural choice before I even get to sponsor selection. I have $50k I'm willing to lock up for five years or so. Same sponsor is offering…
I'm in for 60k on a small multi tenant strip, four suites, bought at the end of a slow market. Quarterly updates arrived on time every quarter and read fine. Then on the month 14…
Two operators approached me in the same month and I can't have both, so I've been sitting with what actually separates them. Operator A wants to put in 15% of the equity out of hi…
Sixteen facilities, aggregation strategy, I'm four quarters in as an LP. Latest report: Same-store revenue down 1.8% year over year. Physical occupancy 89.4%, was 91.2%. In-place…
Numbers first so nobody has to ask. 14 unit brick walk-up, pre-1940, second tier midwest market, bought for 1.02m with a 700k bridge and 1.35m of LP equity from nine investors. Re…
Closed the loop on the first full cycle of this last month, so here are the actual numbers rather than the plan. $46k deployed across 21 debt positions on three platforms, most of…