My broker's screen says 14% yield on an mREIT. What am I missing?
I've been screening income names and a handful of mortgage REITs come up with yields between 11% and 15%. Everything else in the REIT list is at 4% or 5%. I read a comment somewhe…
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I've been screening income names and a handful of mortgage REITs come up with yields between 11% and 15%. Everything else in the REIT list is at 4% or 5%. I read a comment somewhe…
Borrower needs $180k on a house he's under contract for at $205k, and he wants to close in eleven days. A full appraisal in this market is running him a couple of weeks and severa…
Small loss but a clean one, so it's worth writing down. I had about 18k in a broad REIT fund, sitting there as the liquid part of my portfolio. The whole reason I chose a public R…
A lender who works the next county over offered me a piece of a note at 11 percent on a 1950s three bedroom in a town of about 4,000. First lien, roughly 60 percent of a value I c…
A borrower I have known for a while asked me to look at a 40 acre parcel on the edge of a growing exurb, split zoned, no utilities to the line, and he wants a 12 month loan to car…
I'm carrying paper on a duplex I own, buyer putting 12% down. The agent's line was that if the buyer stops paying I just take the house back, and that sounds far too simple to be…
Sold a 1970s three bedroom in a secondary midwest market 18 months ago, 168k, buyer put 5% down, I carried 159.6k at 7.5%, 30 year amortization with a 5 year balloon. Payment 1,11…
I've been getting my license and doing paperwork all year, so this was the one thing I did with actual money in 2026. A guy who buys small pools locally was breaking one up and ha…
Reading through material on lien funds and the phrase that keeps appearing is government-backed. I've read it maybe a dozen times this week and I still can't tell what it covers.…
I want this one written down because it's the kind of mistake that doesn't feel like a mistake while it's happening. Early 2023 I committed $40k to a storage fund. Guy I trust in…
Five years ago I started a service business and now there are eleven of us. We rent our shop and the landlord finally named a price to sell, 950k for the building and the yard. Ba…
A friend forwarded me a conversion fund package, 340 pages, and I've been reading it in the wrong order for a week. The PPM is long and mostly risk factors written to protect the…
Went through a portfolio memo last week that priced 14 facilities at a blended cap and then, on page 31, asserted a 75 basis point compression on exit "reflecting portfolio scale.…
I have $200k I'm ready to place and two funds in front of me. I've never been in a fund before, only two small LP positions in single-property deals. Fund A: $75M value-add multif…
Working through a first-time debt fund from a shop that's been doing equity deals for years. Loans are bridge, first position, quoted at SOFR plus 450 to 500 with floors, so call…
I've been asked for a $250k commitment to a closed-end apartment fund, $400m target, value-add and opportunistic multifamily, three year investment period with a one year extensio…
I'm starting from nothing here and I want to understand the cost structure of an acquisitions operation before I understand anything else. Everything I read talks about markets an…
Loan on my desk: $412,000 on a 6 unit brick walkup, tired but occupied at 4 of 6. Borrower is repositioning, turning units as they vacate, exit is a DSCR refi at stabilization. As…
Working through some loan summaries and the second position loans keep paying 3 or 4 points more. A second lien on a rehab, 14 percent, 2 points, and the combined loan to value is…
Working on tying up four contiguous parcels at the edge of a growing small city, 31 acres total across the four, currently zoned agricultural with the comprehensive plan showing r…