I came into this from a completely different line of work and had no chance of buying a property with what I had saved. 25k, no local market knowledge, no time to renovate anythin…
18k into a value-add multifamily deal on a platform I'd used twice before. 64 units, midwest secondary market, sponsor's plan was interior renovations on turnover, push rents abou…
Gain came from selling a portfolio of three rentals in 2021, $612k. I put $600k into a QOF because I'd spent about nine months talking to my CPA about deferral and roughly nine ho…
I look at small rural markets, so the line in the new law about extra benefits for rural zones caught my eye. Someone at a local investor meetup told me the rural funds get a 30%…
I've got about $40k that's been sitting since I sold a small parcel last spring. A hotel fund came across my desk through someone I trust, value-add, buying select service propert…
I've done nine passive LP checks over six years and never once negotiated a term. This one is different because the operator came to me directly and there's no PPM, just a draft o…
Came from the construction side and I'm learning the capital side, and this is the line I can't get comfortable with. Every conversion pro forma I've been handed in the last year…
My REIT sleeve paid about $1,900 last quarter across five positions, and the brokerage had reinvestment switched on by default for all of them. I turned it off to think and now th…
Single note carved out of a five-loan tape. UPB $92,400, last payment October 2022, arrears with fees about $26k on top. Ask is $38k. Broker's BPO says $141k as-is, $163k repaired…
Running numbers on a small pool of nine non-performing firsts, average UPB 118k, average as-is value about 141k, all in judicial states. Seller wants 62 percent of UPB. My model a…
The offering document for a pref tranche I'm looking at says accredited investors only. Someone in another forum told me preferred equity is debt-like so it isn't really a securit…
$900k into a pref position on a suburban office-to-flex conversion, 12% accruing, no current pay for the first eighteen months, 1.35x minimum multiple at redemption. I read the wh…
312 units, 2016 vintage garden, bought late 2021 at $228k a door. Floating rate bridge, cap bought at the time, cap expires in five months. My LP position is small, call it 4 perc…
Every institutional apartment piece I read says the same thing, which is that vacancy has peaked around 8.5% and values sit 20 to 30% under the 2022 high, so this is the moment fo…
Note on my desk, 9% coupon, amortizing on a 30 year schedule, balloon at month 84. Balance 118k, seasoning is 29 payments clean, I'm being quoted 74. At 74 the yield to the balloo…
I manage properties, so collecting money from people who live in houses is my whole week. When I started reading about performing notes my first thought was that I'd just take the…
Payoff wired last week on the first loan I funded on my own paper, so the numbers are fresh. Collateral was a 4 unit in an inner ring working class suburb, brick, all four occupie…
I'm getting licensed and doing a lot of reading on the side, and hotels are the one property type where I can't follow the ownership picture. With an apartment building I understa…
Reviewing a hospitality fund allocation. 300m target, five to seven year hold, 2% management fee on committed, 8% pref, 60/40 above with a full catch-up. Sponsor's stated strategy…
I do HVAC and light electrical work, mostly for a handful of small landlords. One of them sold a house on owner financing three years ago and the buyer stopped paying nine months…