Working through the diligence file on a stabilized fund's largest asset and I've spent two days on one exhibit. The asset is described everywhere in the marketing as a 32 MW facil…
Reading through the due-on-sale part and I don't understand the risk math. The seller's mortgage says the lender can demand full payment if the property transfers. In a wrap the p…
I've got capital sitting and I've been reading about seller financing generally. Wraps came up and I don't follow the source of the return. As I understand it the seller keeps the…
Working through pricing on a 180-unit active adult plan, three-story walkups plus fourteen cottages. Amenity package as drawn is a 12,000 square foot clubhouse with a fitness room…
This is the one I got wrong, and I did the due diligence, which is the annoying part. Two 1990s vintage bulk buildings, roughly 310,000 square feet combined, 24 foot clear, in a s…
I bought a three-bedroom townhouse in a suburb about six miles from a business park with a few engineering and medical device employers. Closed in the fall. Plain rent for the tow…
Reviewing a deck for a 3.5M raise, two parks in one recreational market, 190 sites combined. Structure is an 8 percent preferred return, 70/30 split above it, five year hold, 2 pe…
I do renovations for a living, so land was the odd thing in my portfolio for a long time. This one closed out in the spring and I think the useful parts are the boring ones. Bough…
I run a portfolio where the tax-advantaged space is close to full and the incremental dollar has to go into a taxable brokerage account. The standard line is that REITs belong in…
I opened a brokerage account, put 2,000 into a REIT index fund because a book told me it was the easiest way to start in real estate, and now I'm looking at the holdings list and…
Looking at two LP offerings on the same rough size, both 90 to 110 keys, both in secondary markets, and the only real structural difference is affiliation. One is a hard franchise…
I bought this in my second month of looking, which tells you most of what you need to know. 2.5 acres, listed on a land marketplace at $7,900, closed at $8,900 with fees and the d…
Bought a 3/2 ranch about a mile from a regional hospital campus in a mid-size market, $265k, 20% down, $22k to furnish it properly. All in cash at $83k including closing. Year one…
Reading a town's website and it lists a short-term rental registration, a transient occupancy tax account, and a general business license as three separate items with three separa…
I have about 240k I want to put into multifamily and two live options in front of me. I'm on the capital side by temperament, meaning I'd rather read documents than fix toilets, b…
I am looking at a small joint venture on four furnished units, roughly $38,000 of furniture and housewares across the four, against about $1.1 million of real property. The operat…
I've been going back through the NCREIF farmland numbers because a fund deck I got handed leaned hard on the recovery story and skipped past what happened before it. The facts as…
A friend pointed me toward holding a small rental inside a Roth vs a traditional IRA and I got stuck on the far end of it. If the account has to start paying me out at some point,…
I've been running a side by side for a small rental inside a Roth, all cash versus non-recourse, and the all cash column keeps winning by more than I expected. I want someone to p…
I've been reading titling patterns on sub-to acquisitions and I don't think the room agrees on this at all. The land trust argument: the deed transfers to a trust, the seller is o…