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
An operator I've been talking to sent over a two page term sheet for a 48 unit deal. Top line says "JV equity partnership." Then the terms are 90/10 contributions, 8% preferred re…
I've owned raw ground and a couple of long-hold rentals for years, so this is new territory for me. An operator I've known through a local owners' group asked me to fund the equit…
I've read maybe a dozen threads here where someone sells a house, carries the financing, and then talks about the note like it's a thing sitting in a drawer with a price on it. I…
Got taken out at par plus exit fee last month on a mezz participation I put $125k into 22 months ago. Writing up the part that nearly killed it, because it wasn't in the mezz docu…
Reading a junior participation draft where the standstill runs 120 days from the senior's default notice. During that window I can't accelerate, can't start any enforcement, can't…
I've done a few deals with my own cash and I'm now looking at a 140k rollover, and the first decision isn't which deal. It's what fraction of that account has any business being i…
Bridge loan quote on a 22 unit, $3.1m loan against a $4.2m purchase. Lender's term sheet asks for a guarantor with net worth at or above the loan amount and liquidity at 5 percent…
Nine files offered as a small tape, balances $48k to $130k, ask around 40 percent of balance in aggregate. Bid window is five business days. The seller sent collateral file scans…
Went through a fund deck last week where the manager made a whole selling point out of the fact that REITs are cautious about holding mezz. The pitch was that the rules explicitly…
Third year running a small note and lending position out of a self-directed account, and I'm back to the structure question because a borrower needed a partial release on a Friday…
Mezzanine debt has been on my mind for a few weeks and I want to test something with people who actually do it. What I understand so far. Mezz sits between the first mortgage and…
I've been trying to learn the lending side rather than the owning side, and this was my first real position. Writing down how it went while it's fresh. What it was: a participatio…
Construction is my background, so I understand structures better than I understand liens, and I proved it. The note was a second mortgage, $31k balance, on a 1,400 square foot hou…
Two funds I've been reading take opposite positions on the same page of their material and both call it risk management. The first has around 140 loans across eleven states and sa…
A seller I've bought two singles from is offering four seasoned performing firsts as a pool, all or nothing. Total UPB $312,000, blended ask 86, so $268,320. A: UPB 96,400, coupon…
Looking at a pool of seasoned performing seconds, and the pricing convention in it is bothering me. The tape prices them around 88 to 92 of unpaid balance, which for a note at 9.5…
I've been handed a co-invest slot alongside a sponsor a former coworker vouches for, $75k minimum, and I have until the 30th to fund or pass. This is the first institutional-size…
I'm building a written allocation for the first time and I've hit a question I can't reason my way out of. If I count the REIT sleeve as real estate, then between the sleeve and t…
I met a sponsor at a local meetup and asked if I could be added to his investor updates without investing. He said yes, which I later learned is not a given. Some people won't do…
I do renovations, so when a small note came up on a 1960s three bed that needed a kitchen and a roof, I looked at it as a way into the house at a price no wholesaler would give me…