All 132 real estate strategies.Every room answered.
Start with a RE category
Next, pick a strategy
Then pick the type of post
every post in the capital rooms
Simple model, and I know it's too simple. 200 certificates, average face $2,200, statutory 16%, everything redeems inside 18 months. Spreadsheet says a hair under 16% because I di…
Writing this from the sponsor side. Mid-size industrial infill, five buildings, $14.2m purchase. Senior loan was $9.1m fixed for five years with defeasance and a lockout through y…
I've now sat through three storage pitches this year and every one of them used the same word. Defensive. Demand comes from life events, people move, people divorce, people die, p…
Construction is what I know, so I look at these rehab loans and I can see which borrowers are lying about their budget. Thought that might be worth something on the lending side.…
Funded a $95,000 first through a loan broker in early 2023. Single family rental in a slow secondary market, borrower was buying to hold and refinance out. Appraisal came in at $1…
Hotel repositioning fund, four assets, my position was $120k. I read the LPA before I signed and I read the quarterlies, which is more than most people do and clearly still wasn't…
This was supposed to be the easy version. I had a small two bedroom I had fixed up, market value around 122k, and a buyer who could not get a mortgage because of a short work hist…
I renovated a house intending to sell outright, the scope ran over as usual, and now I'm considering carrying the paper instead of taking a thinner cash number. Something I don't…
51 clean payments, 8.9% note rate, $498 a month, UPB $56,200. Small southeast town, 1.1 acres, doublewide set on a permanent foundation with skirting and a carport. I paid 84 of U…
Two of the funders I've been calling lead with the same line: if your closer will close A to B using the end buyer's funds, you don't need us. One says it as a filter, they only w…
The O&E report came back with one unpaid tax installment, $1,840, on a loan with no escrow account. That's the part I want to talk about, because everything else about this note w…
I'm looking at my first performing note, single family, borrower current for about four years. The seller emailed a list of what gets delivered at closing: original note, allonge,…
I have spent two years reading about lending and never actually put money out. What finally happened is that I sold my own duplex and carried the paper instead of taking cash, whi…
I've been building a comparison sheet for the mREIT side and the split that keeps showing up is agency versus credit. On the agency side you're holding mortgage-backed securities…
Underwriting is what I spend my days on, so I want to sanity check the portfolio construction side rather than the deal side. If a typical equity offering has some real probabilit…
I've got 15k sitting from a good year in the business, and there's a chance I'll want it for equipment in about two years. Not a certainty, maybe 40%. That rules out most of what…
I've had four funds' materials open since August and I keep arriving at the same argument with myself. One camp says the tape decides everything. Vintage of origination, weighted…
I've been looking at the lending side rather than owning, and eighteen months ago that looked like an easy way in. A sponsor I'd met at a local meetup had a 96-unit under contract…
I've been sitting in on sponsor interviews for a conversion allocation and the split in the room is sharper than I expected. Candidate A has done four office-to-residential projec…
Everything I read puts pref equity returns in roughly the 10 to 15 percent band. That's a wide band for a single asset class and I don't yet have a feel for what moves you across…