180 units, built 2004, secondary Sun Belt market about 40 minutes from a major metro. Purchase price $28.5M, so $158k a unit. The sponsor's deck says replacement cost in that subm…
An agent sent me a package for a 60 unit property in a Sun Belt market labeled "value-add, 1988 vintage, classic interiors." I asked what value-add meant and got back a sentence a…
4,400 sf second generation dental suite, six operatories, going dark at expiration. Local imaging group wants it for a 1.5T MRI plus ultrasound and a reading room. Their term ask…
Working through an LP subscription and I'd like people to tear up the assumptions before I wire. Asset: 48,000 sf multi-tenant medical outpatient building, 1987 vintage with a 201…
First SDIRA purchase attempt. It died and I want to write down exactly where. The property: $147,000, three bed, tenant in place at $1,295 paying on time for two years, seller was…
I'm looking at my first rent-to-own on the buyer side and the two drafts I've been shown handle the option fee completely differently. In one, the $6,500 goes to the owner at sign…
Under option on 27 acres, $5,000 option fee applied to purchase, 90 days to decide. Plan was four lots off what I thought was 400 feet of road frontage plus a shared gravel drive…
I've spent two months on ordinances instead of listings and I've narrowed to two very different first purchases. I can't tell which one is the beginner version. Option A is a mid-…
Been holding a position in a public non-traded REIT for four years, funded out of retained earnings from the service business. Nothing dramatic, it's the part of the balance sheet…
Spent twenty years pricing jobs where every line item was labor, materials or overhead, so the fee page on this multifamily offering is bothering me. 2% acquisition fee on a $14M…
Three years ago I put $50,000 into a self-storage syndication. First LP check I ever wrote. The sponsor's deck had five prior deals on it, all full cycle, all between 1.7x and 2.2…
I've spent a week going through the mechanics of debt-financed income inside a self-directed IRA and I want to state what I think I know in plain language so someone can tell me w…
Reading a custodian's account agreement and the signature block is confusing me. The purchase contract apparently gets signed by the custodian as trustee for the benefit of my IRA…
64 lots, $310 lot rent, contract price $2.9M, and the seller's attorney says before we can close he has to send residents a statutory notice giving them a window to organize and m…
I've been reading fund paperwork for about a year without putting money anywhere, which was starting to feel silly. Last spring I went into a 66-lot park deal as a limited partner…
My first purchase is close, and I've started mapping where rungs two and three would come from. Two ways to plan it and they lead to completely different portfolios. Tight radius.…
I've spent enough time in zoning files to know the difference between a use that's allowed and a use that's allowed after a hearing, and I'm now sitting between two boarding house…
I've got a small three bedroom in a working class part of town, owned free and clear, and a buyer who can put 12% down but can't get a bank to look at him. He's self employed, two…
Coming from zero here. The appeal of land banking to me was that there's no tenant, no roof, no calls at 11pm. You buy it and you wait. Then I read a post where someone found out…
I run services into three rooming houses and the owners all handle staffing differently, and after five years I still cannot tell which one is right. The live-in case: someone is…