A broker sent me a 48-key select service property in a smaller city, and the expense list on the pro forma has a line for management fee at 3% of gross revenue. I read that as the…
I run a couple of small multifamily buildings in my own name and I'm thinking about a single-family rental for the IRA side. What I can't pin down is the cost of the wrapper itsel…
Land is my usual thing and the appeal there is that nothing needs doing. Hotels seem like the opposite of that in every way, and yet this room is filed under passive hold, which c…
Ground floor of a mixed-use building I'm underwriting. The suite is 1,800 sf, dark for fourteen months per the seller's leasing reports. Asking rent is $14/sf NNN. A prospect in t…
I read a lot of leases for owners who live in one unit of a two or three unit and rent the rest, and they are almost always the same document the off-site owners use. Then the own…
QSR outparcel, $1,725,000 at a 6.9% cap, 15-year lease just signed, brand is one everyone would recognize. Then I get to the guaranty page and it's an LLC that operates 12 units i…
Working through the 2026 setup and I can't square two things I've read. The pitch is that REIT valuations sit near historic discounts to both broader equities and private real est…
Working through a fourplex listed at $640k. Four two-bedroom units, all leased at $1,150, so $4,600 gross. My plan was to occupy one unit with a low down payment government-backed…
I've only bought small apartment buildings, where diligence was an inspection and a sewer scope and I was done for about $900. Now I'm looking at a 12,000 sf retail building with…
Trying to size a check for this and I only ever see the purchase price discussed. A two bedroom condo in a tourist market, say $320k, 20% down is $64k. Then what? Somebody told me…
Looking at my first LP deal instead of another flip, and the summary page has three numbers stacked on top of each other. 15% IRR, 1.8x equity multiple, 8% average cash-on-cash. O…
Side by side duplex, 429k, 5 percent conventional owner occupied. PITI plus MIP lands around 3,150. Other side rents at 1,750, market supports maybe 1,800 on turnover. So I'm out…
The park I'm working toward has 3 homes the current owner owns and rents out. I'd rather have those residents own their homes and just pay lot rent, which as far as I understand i…
Deal page lists the sponsor as "$400M+ transacted, 40+ projects" and that's it. Nothing about how many of those went full cycle, no realized returns, no mention of the ones that d…
Working through a term sheet a private lender sent me for a bridge-to-DSCR setup and I want to check my arithmetic against how people who actually hold these things think about it…
Four financed properties including the current primary. Gross income about $11,000 a month, ratio sitting around 44 percent by the way my lender counts it, which means the next ow…
Trying to build the operating line of a model for two units and I keep guessing at the software and services layer. Specifically what people pay for a dynamic pricing tool, whethe…
36 acres, county ordinance exempts a division of four or fewer lots from the major subdivision requirements, meaning no engineered road to county standard, no stormwater plan, no…
Got a deal sheet from a wholesaler that says "sub2, assumable, 3.25%" on it. When I asked whether the loan was actually assumable he said sub2 and assumable are the same thing, yo…
I've been pricing this out badly. Someone told me you can't get a mortgage on bare farmland the way you can on a rental, and that lenders want 40 or 50 percent down. Then I found…