I've been calling industrial brokers to understand the service side of this sector and I keep ending up in the same argument, so I want to put it to the room. The pitch for qualit…
Running numbers on a four unit where three doors would go to vouchers. Payment standard in that submarket lands around 1,240 for a two bed. Market rent on the same unit, from comp…
The operating agreement said my membership interest was 25 percent. It did not say what I gave for it. That sentence is the whole loss. Deal shape: 33-lot park in a small market,…
I've been building a list for about a year and the two best candidates I have are almost the same size and almost the same price, and the income is built in opposite directions. P…
Page 14 of the HOA docs says no lease shorter than six months. That single line is the only reason I haven't written an offer, and I've now read it four times. The property is a 2…
Mid-term rentals keep getting pitched to me as the safer version of Airbnb, and the claim everywhere is that if you set your minimum stay to 30 days you're not a short term rental…
I've been reading deal memos to understand how private money actually sizes industrial risk, and the same argument keeps showing up in the risk sections without ever getting resol…
Something I ran into on a 9-unit in a secondary market that I haven't resolved. The guide logic is that at five units you're valued on NOI and a cap rate. That's how I underwrote…
Turns and light rehab are what my small crew does, mostly for other people's rentals, and one of the brokers I work for sent me a 7-unit as a pocket listing before it goes up. 7 u…
I'm about a month from funding and I have two versions of the same purchase in front of me. Version one, the custodian takes title directly, deed reads as the custodian FBO my acc…
Two decisions and they interact, which is why I can't separate them. Position one, in since 2022. 320 units, 2016 vintage, big Sun Belt metro. Purchase was $61.4M, $192k a unit, f…
I'm building out a services business and apartment operators keep coming up as the customer. Before I go further I want to know what the stack on a 200 unit property already costs…
Running the fee math on two offerings that are close enough in asset quality that the difference in what I take home is mostly structure. Stripping the marketing out, here's what…
My house sits on a corner lot with room behind the garage, and two different builders have told me a small detached unit would rent for something like $1,600 here. The income part…
I've been circling the service side of this for a while and finally sold something concrete: a pre-design feasibility screen for owners thinking about a backyard unit. Flat $850,…
Renewal comes up in seven weeks on a three bedroom that leases in that pocket at about 2,040 today. My tenant is at 1,850, has been there twenty-six months, pays on the first ever…
Posting the variance because the shape of it surprised me and I've since seen it in two other operators' books. Acquisition: 610k on an eleven room licensed house in a mid-size ma…
Written criteria on my first house are 3x monthly rent in gross income, 620 minimum score, no evictions in seven years, two years of verifiable rental history. I wrote them before…
I've got a side by side duplex with long-term tenants in both halves. One lease ends soon and the nightly comps in that pocket are strong enough that I want to try it on that unit…
I run a residential cleaning operation, five years, seven people, mostly recurring biweekly homes and a few move-outs. Over the last four months three separate owners with nightly…