I paid 61k for 9 acres about two miles from the entrance to a state park, thinking I'd put in 20 sites eventually and sell nightly stays. Two years later I sold the land for 58k a…
Underwriting a 38-lot park at a 6.75 cap, city water and sewer, all but three homes tenant owned, asphalt in fair shape. On paper this is the most stable income I've looked at, an…
48-lot park, small city, asking $1.6M. I was building a service business around parks and figured owning one would teach me the operations from the inside. It taught me something,…
I'm finishing my salesperson license and looking at a 12-unit at 1.05M as a first commercial-classified purchase, and my operating expense line is guesswork. Specifics I can't pin…
Bought a 16-unit two-story in a secondary market 18 months ago at 1.45M. Bridge of 1.1M, interest only, SOFR plus 350, 24 month term with one 6 month extension at 50bps and a 1.20…
Walked the mechanical spaces on a 22,000 sf two-story medical building last week. Two original 1994 rooftop units on the north half, both replaced sometime around 2011 by the look…
Two offerings sitting open on my list right now and they're forcing a choice I've been avoiding. First one: a 140 unit 1980s garden apartment value-add in a Sun Belt secondary mar…
Three homes, 18 licensed beds between them, 7 occupied when I started working with the owner in March. All 18 full now with four names on a wait list that I'd call two-thirds real…
Read something that said if you originate more than a couple of owner-financed loans you become a mortgage lender and need to be licensed, and that there are rules about balloon p…
Buyer came in on a 3/2 in a stable working class pocket, nothing special about the house, I've owned it free and clear for years. He wants a 30 year amortization with a 5 year bal…
Notes have been most of my reading, but a gain from selling a small paper position had me looking at OZ funds because someone in another forum said it was the obvious place for it…
Talking to an owner who wants someone to handle placements and turns for three furnished units aimed at corporate tenants. Before I say yes I want to understand exactly where I st…
First furnished unit, 2 bed near a research park, and I got as far as a vendor packet from a relocation management company. I'd quoted $2,550 all inclusive. Their standard rate ca…
Two parcels in the same county, both plausible three or four lot splits, and I can only do one this year. First is 58 acres at $6,300 an acre, so $365k. Forty tillable acres under…
Wrote this up because the mistake is embarrassing in a structural way rather than a stupid one, and I'd rather someone else not repeat it. I run three to five renovation deals at…
I manage buildings rather than own them, and I get asked this by owners often enough that I want to see how the room splits. Office has pulled apart into two markets. Newer well l…
Third park, first one over 50 lots, and the first one where I ran the transition with my own crew instead of hiring it out. 96 lots, 91 occupied, all tenant-owned homes except fou…
48-lot park, city water on a single master meter, no submeters at the pads. The P&L the broker sent shows water/sewer expense of about $1,900 a month and a separate line called "w…
I've held raw land for years and never had a tenant, so the fee mechanics are new to me. A manager quoted me 10 percent and I assumed that meant 10 percent of the $1,700 rent, so…
Five guys work for me in a small service outfit, and I've been paid to fix other people's rentals for years. Now I'm about to own one and I've talked myself into two opposite answ…