Do you charge yourself rent when you underwrite the house hack?
This is the argument I keep having with two people I trust and they've never once agreed. Setup. Duplex, $460k, payment $3,300 all in. The other side rents for $1,700. I live in t…
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This is the argument I keep having with two people I trust and they've never once agreed. Setup. Duplex, $460k, payment $3,300 all in. The other side rents for $1,700. I live in t…
Every entitlement and land banking play I've wanted to look at on a platform has been behind an accreditation wall. The open offerings on those same portals are pooled vehicles ho…
I run small multifamily and I know exactly what a rehab budget does when the walls open up. Now I have a gain from selling a building and I'm looking at funds instead of doing it…
Been reading about non-traded REITs after a conversation on a job site and I don't understand the core sell. The pitch is that shares don't swing with daily market sentiment, so y…
Finished framing out the deck on a two-bedroom I'm setting up for nightly stays in a small lake market, and the contractor left space for a tub because I told him to six weeks ago…
Third water heater in two years on my four unit, and I spent a Saturday on the phone about it. That night I ran the arithmetic on a small single tenant retail pad someone sent me,…
Two adjacent corner parcels, about 0.6 acres total, in a small city that just rewrote its downtown-adjacent district. Ground floor commercial permitted and encouraged, three resid…
Went through four REIT annual reports this month and came out with a sequencing problem I can't settle. One order says sector first. The chapter for this room is blunt about it, s…
Asking price works out to a 9.1 cap on in-place, which for a rural building isn't strange on its own. What's making me stare at it is the tenant roster. Family practice in 4,400 s…
I ran the same 20 acre parcel two ways on a spreadsheet and I can't decide which column I like, so I'll put the numbers up and let people argue. Cost in is $8,400. I'm asking $22,…
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…
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…
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…
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…
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…
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…
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…
Fourplex under review, mid seventies build, 585k ask, four two-beds at 1,150. My reserve line is the only number in the model I can't defend to myself. The percent-of-gross approa…
I've been trying to decide between a small facility and small multifamily, so I asked two owners to log a month for me and I built the comparison out. The 118-unit facility, self-…