A broker sent me a 48-key select service property in a smaller city, and the expense list on the pro forma has a line for management fee at 3% of gross revenue. I read that as the…
A DST offering came across my desk with two documents that don't agree with each other. Single asset, 96-key limited service hotel, upper-midscale flag, secondary sunbelt market o…
Short version: the IRA owns a small rental, the tax bill came addressed to the custodian, the custodian forwarded it to me as they do, and I paid it online from my personal accoun…
I have 40 acres of raw ag-adjacent land under contract at $88k, all cash from a traditional self-directed IRA. Low price point rural market, the kind of thing I look at all day. C…
I run a couple of small multifamily buildings in my own name and I'm thinking about a single-family rental for the IRA side. What I can't pin down is the cost of the wrapper itsel…
Land is my usual thing and the appeal there is that nothing needs doing. Hotels seem like the opposite of that in every way, and yet this room is filed under passive hold, which c…
Notice came Friday. The sponsor on a 78-key leisure-destination hotel wants $1.1M of new money across the LP class, $780k of it for working capital through shoulder season and $32…
No deals yet after six months of looking, and I managed to lose money anyway, so I'll write it down. I was under contract on a 2 bed townhouse near a business park, $189,000, plan…
My first rental closes in six weeks so I'm not buying this, but my agent sent me a listing to look at as a comparison and I can't make sense of it. Small two story, a hair salon o…
Ground floor of a mixed-use building I'm underwriting. The suite is 1,800 sf, dark for fourteen months per the seller's leasing reports. Asking rent is $14/sf NNN. A prospect in t…
I read a lot of leases for owners who live in one unit of a two or three unit and rent the rest, and they are almost always the same document the off-site owners use. Then the own…
This is the argument I keep having with two people I trust and they've never once agreed. Setup. Duplex, $460k, payment $3,300 all in. The other side rents for $1,700. I live in t…
QSR outparcel, $1,725,000 at a 6.9% cap, 15-year lease just signed, brand is one everyone would recognize. Then I get to the guaranty page and it's an LLC that operates 12 units i…
Two infill land parcels I'd been sitting on for six years finally sold this spring, and the proceeds went into a single tenant drive-thru restaurant pad. Closed about six weeks ag…
Working through the 2026 setup and I can't square two things I've read. The pitch is that REIT valuations sit near historic discounts to both broader equities and private real est…
I wanted the boring version that works, so in 2022 I put 85k into a broad equity REIT index fund inside a taxable account and told myself I'd hold ten years. I sold in the middle…
Working through a fourplex listed at $640k. Four two-bedroom units, all leased at $1,150, so $4,600 gross. My plan was to occupy one unit with a low down payment government-backed…
I have been saving toward a first purchase for two years and I now have two buildings I can actually see myself owning, in the same town, about a mile apart. The duplex is 315k. B…
I've only bought small apartment buildings, where diligence was an inspection and a sewer scope and I was done for about $900. Now I'm looking at a 12,000 sf retail building with…
Closed six weeks ago on an 8,300 sf small-format discount retail building in a town of about 4,500 in the upper midwest. Corporate lease, investment-grade parent guaranty, 13 year…