Trying to price the software stack on a 200 unit property
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…
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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…
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…
One of my management clients owns a small apartment portfolio and also, it turns out, 40 acres she inherited outside a growing exurb about 45 minutes from a metro. She's 78, doesn…
I've had three separate conversations now where a builder tells me the finished lot has to come in at 20 to 25 percent of the retail house price, like it's a law of physics. So a…
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…
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,…
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 want the boring thing that works, so I've been reading about this model and I keep hitting the same doubt. A dispo-only operator doesn't find the property, doesn't contract the…
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…
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…
Getting my license, still figuring out what I'll do with it. Two REO-specific things I can't get a straight answer on from anyone local. One, when a bank lists a repossessed house…
This is a small one and it is the least exciting deal I have ever done, which is why I am posting it. Land, no house, no tenants, no rehab crew. A regional bank ended up owning ab…
The thesis in front of me is straightforward enough that even I follow it. Apartment values reset, supply is falling off, rents firm up somewhere around 2027, and whoever bought a…
Sponsor had 140 LP entities and every quarter the distribution run produced returned ACH payments. Q1 was 16 failures out of 141 payments, so 11%. Each failure cost roughly 25 min…
I'm getting ready to put money to work on this side rather than owning buildings, and there's a fork in the road I can't reason my way past. One school says the borrower is the lo…
Got a package on a four-plex from an agent I've been talking to about representation. The listing sheet shows $3,400 a month gross. The leases she forwarded add up to $3,050, and…
I move slowly and I've spent about four months interviewing agents before committing to one. Down to two and I've hit something I don't know how to weigh. Agent A: eleven years, w…
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…