Single tenant off-campus building, cardiology group, seven years left at $34 psf. The practice told me informally they're in talks to be acquired by the regional health system. I…
This was a 2,900 sf suite in a five-suite medical condo building about a mile from a regional hospital. Bought it at $412k with a solo podiatry practice in place at $26/sf on a mo…
Townhouse, 3 bed, in a mid-price suburban pocket. Comps say around $268k today. I owe $141k on a fixed loan I will never beat. Rent is $1,725 and the tenant has been in three year…
Structure I inherited when I bought into this position: 36-month lease option on a single family, rent $1,750, of which $350 a month is credited toward a $265,000 strike price, pl…
Posting the beginner version because I think people newer than me want to see one where nobody got clever. I sent letters to owners of vacant rural parcels who were behind on taxe…
The owner whose turnovers and listing photos I handle sent me the payment standard sheet from the housing authority with "1720" circled in pen. Her 3 bed townhouse has been vacant…
Went through the paperwork packet for a unit I'm looking at and the tenancy addendum has a line saying that in case of conflict between the addendum and the lease, the addendum co…
Working through a term sheet on a small facility and the insurance section lists four things, two of which I understand. Loss of rents endorsement and customer goods legal liabili…
Pulled operating statements on a 240-unit facility to practice on. Revenue line grows 6 percent year over year while unit count and occupancy are both flat. The broker said that's…
I own nine doors, five of them on vouchers, and all five sit inside a single authority's jurisdiction. That was accidental at first and then it started to look like a feature. One…
I own one small rental and I'd rather not add a second job to my week. A friend told me Section 8 units are actually less work than market rate because the rent shows up on its ow…
First house, 3 bed ranch from the seventies in a mid-priced suburb, $268k, 3.5 percent down on an FHA loan, so $9,380 down and about $7,000 in closing costs. Full payment was $2,1…
An operator I've met twice at a local meetup asked me for $15,000. He wants to take a lease option on a 4 bed in an inner-ring suburb, strike $295,000, 36 month option, $15,000 fe…
I've got an option on a 3/2 at a $305,000 strike, 30 months, $7,500 option fee, no rent credit. Comparable resales are landing around $328,000. Rather than exercise and resell, I'…
Putting together the services side for two independent living lite properties, 140 and 165 units. Scope is light housekeeping every other week, a scheduled van three days a week,…
I've been putting money aside toward a first parcel and got stuck on something simple. Land banking produces no income, so the property tax bill has to be paid out of something el…
I've been reading pro formas instead of buying anything, and the same pattern shows up in nearly all of them. Rent grows 3 percent a year, expenses grow 2 percent, and by year fiv…
I've been looking at hold-and-wait plays and this came in from an agent who knows I'm patient: a 1,900 sf brick ranch, four bedrooms, priced about $60k under the comps, described…
Two houses under contract review, one of them has to go. House A: 3,200 sq ft, 4 bed 3 bath, single story, 0.4 acre. Asking 465k. Layout gets me 6 residents in 5 rooms if I conver…
A borrower brings you 300 acres, appraised at 1.6 million, and the appraiser splits it into 900k of land and 700k of standing timber. Underwriting question that I keep going back…