Modeling acquisition three on paper before I commit to anything, and the lending side is where it falls apart. Current picture I'm working from: property one PITI $1,850, market r…
I live in one side of a duplex I bought a bit over two years ago. Both sides are identical, two bed one bath. My side has been my home the whole time, the other side rents for 1,3…
I was filling in my own allocation sheet and got stuck on where to put this. On paper it's a building with a lease, so it's real estate. But when I read the actual drivers, they'r…
Closed on a 1920s three unit in a blue collar pocket of a mid-size metro last spring. Purchase was 214k, I'd budgeted 28k of work, and the plan was to place voucher holders in all…
Housing authority did an annual on a three-unit I manage the maintenance side of. Units 1 and 2 passed. Unit 3 failed on bathroom ventilation, the fan runs but the inspector says…
Small tract, pine, first commercial thinning is technically due. A thinning is where you cut maybe a third of the stems to give the rest room to grow, and the wood that comes out…
I've held this facility eleven years and the manager who came with it is retiring in the spring. She works 22 hours a week and costs me a bit over 26k all in with payroll taxes. O…
I'm putting together a service business around real estate, which means I read a lot of management agreements, and last week I read my first farm management agreement. It was for…
Reading the account agreement before I fund it, and there's a clause I hadn't thought about at all. Every year I have to provide the custodian a fair market value for each asset t…
Two listings open on my screen and they are almost opposites, so I want to put the choice to the room before I talk myself into whichever one I looked at last. The first is 70 acr…
This isn't the rental I've been posting about. My parents' neighbor is selling 35 acres about two hours out, mostly mixed hardwood with maybe 8 acres of planted pine along the roa…
Running a 1,400 acre southern pine tract, mixed ages, roughly 40 percent in sawtimber-eligible stems by the cruise. Base case underwriting assumes stumpage roughly flat in real te…
Posting the numbers because the thing that made this work was a modeling choice, not a market call. 1920s triplex, two ones over a two one, in a streetcar suburb of a mid sized mi…
I'm looking at this from the lending side rather than as an owner, and the cost-basis question keeps coming up. On a delayed financing setup, the file is supposed to document the…
This worked out, and it worked out slower than it should have. Cutover means the timber's already been harvested, so you're buying close to bare land. The previous owner clearcut…
The offering page says 10 to 12% target IRR and then further down there's a line about distributions beginning in year three, which I don't understand if I'm supposedly getting 10…
Third crowdfunded LP position and the first time I've read a waterfall that orders things this way. Language is roughly: distributable cash goes first to an 8% cumulative preferre…
A listing came across my feed for 5 acres at $12,000, and the seller says the property tax is about $180 a year. My plan was to just own it and let it sit, which someone in anothe…
First parcel, first anything. Asking was $74,500 for 11 acres about 40 minutes past the last subdivision on a state route, gently rolling, county road frontage on the north side.…
I've been pulling apart the three ways to own storage without running it, and they turn out to be three different bets wearing the same name. Public REIT shares give me daily liqu…