Are REITs actually cheap, or just down?
Five years into running the service business and I finally have 60k that isn't reserve money. I don't want to buy a rental, I've watched enough of my clients deal with tenants. So…
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Five years into running the service business and I finally have 60k that isn't reserve money. I don't want to buy a rental, I've watched enough of my clients deal with tenants. So…
Everything I read frames the REIT-to-private valuation gap as a reason to deploy into listed. My underwriting keeps producing the other resolution. Concretely: my private open-end…
Co-invest slot next to a sponsor I've done one small industrial deal with, and this is bigger and further outside what I know. Numbers as sent: Upper-midscale, 118 keys, secondary…
I'm setting up a self-directed IRA to move about 60k of old retirement money into real estate paper, and the two custodian fee models I've been quoted are shaped completely differ…
I have been calling servicers for a few weeks trying to understand what the service layer around private lending actually is, since that side of the business is where I keep landi…
Put $12k into a non-traded pooled real estate vehicle on a platform two and a half years ago. Set it and forgot it, exactly as intended, while I saved for a rental down payment. T…
Working through a purchase agreement on a nine-park aggregation, about 1,100 pads, seller is a family operator consolidating out. The utility reps are where I'm stuck. The seller…
An operator running a roll-up wants my three parks. 214 lots total, all tenant-owned homes except 19, in-place NOI $712k. I'm in for $2.9M all in including the water plant rebuild…
Reading an LPA for an opportunistic fund and two clauses sit next to each other in a way I don't love. The reinvestment section lets the GP recycle disposition proceeds and return…
I manage about 1,400 units for third-party owners. Over the last two years four of those owners have separately asked whether they can put money into deals I buy myself. I've done…
A few flips in and I'm hitting the ceiling on what I can fund myself, so I'm looking at going passive on some of my capital. The platform pages say things like "no investor fees"…
I want real estate exposure that doesn't turn into a second job, so crowdfunding looked like the obvious place to start. Where I've landed: one pooled fund, 1k minimum, roughly 1%…
I had $60k and a sponsor I liked with a $50k minimum. Almost put the whole thing in one deal. Instead I asked both that sponsor and a second one whether they'd take $30k. Both sai…
Reading the deck for a 180-unit deal and the fee page lists a 2% acquisition fee, a 1.5% annual asset management fee, a 1% disposition fee, and then the cash splits 70/30 after an…
Two LPAs open in front of me right now, both value-add multifamily, both around a three to five year stated hold, both from sponsors I have taken seriously enough to call referenc…
I've been building a list for two years and I finally moved on a deal that wasn't mine. Operator with a decent track record in flex industrial, 34,000 square feet in a tertiary ma…
Two closed deals, 480k of equity raised across 9 people, both still paying. Next 18 months I want three acquisitions in the same submarket and that's roughly 1.4m of equity. The r…
Working through a $60M equity allocation and the choice keeps coming back to the same fork. Either we back a sponsor who already has a management platform across 40-odd parks and…
I've been reading fund summaries for manufactured housing and they all describe the portfolio in pads and then say something like "92% lot-rent-only, minimal park-owned homes." I…
I've been offered a $4M slice of a $19M bridge loan on a 14-park portfolio and the debt yield only works if I count income I'm not sure I should count. The portfolio: 1,180 lots a…