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Discussionsomeone asked, the room worked it out From the desk:live deals, numbers on the table Wins & lossesit finished, here is how it went Pollsone click, then see the split Storiesthe tenant, the seller, the sideways closing All

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Story

The 3D tour I watched twice left the basement out entirely

I did the 3D tour on a listing twice before I ever drove out. Nice little house, priced under the block, staged in the photos with a gray sectional and a rug. Two things at the sh…

tylerbrooks9PassivePRO49 replies

DiscussionOpportunity Zone Investing

31 month safe harbor against a 9 month permit queue

Deal in progress and I want to understand the failure modes before I commit the gain. Numbers: purchase $1.2m, allocation looks like $340k land and $860k improvements, so my subst…

joe_delgado5AP4CPRO4Answered14 replies

From the desk:Opportunity Zone Investing

Asked to bid a zone project where the 30 month clock is now my problem

A developer I've worked with wants a bid on a 6,000 square foot two story commercial building he's converting to apartments, and he's told me the improvement spend has to clear a…

gregpowell66AG4BPRO12Answered2 replies

DiscussionSelf-Directed IRA (Capital Deployment)

Fund says IRA investors should expect UBTI on the K-1, trying to size the haircut

I'm reading the PPM for a value-add multifamily fund. Target leverage 65 percent at the property level, and there's a paragraph telling tax-exempt investors to expect unrelated bu…

jessreyes12AU1APRO16Answered8 replies

From the desk:Self-Directed IRA (Capital Deployment)

214k in a Roth SDIRA and the UBIT drag won't pencil

Moved an old employer plan into a Roth self-directed IRA in the spring. 214k sitting in cash at the custodian, earning almost nothing while I argue with myself. What's in front of…

chriswalton8CC1CPRO15Answered3 replies

DiscussionRaising Capital / Investor Relations

MFN is what worries me about the anchor's side letter, not the 1.25%

20m target fund, hard cap 25m. An anchor is offering 5m at first close and their side letter asks for management fee at 1.25 rather than 1.5, no change to the promote, quarterly p…

raj_mehta14CapitalPRO13Answered6 replies

From the desk:Raising Capital / Investor Relations

Two customers want in on my first flip. How do I say yes safely?

I've done trade work for fifteen years and I'm buying a house to renovate and resell for the first time. Purchase 182k, renovation I've scoped at 58k doing most of the work myself…

mitchell_ray4 Get yoursPRO12Answered3 replies

DiscussionAgricultural Land / Farmland

Seventy deeded acres in one county, or a slice of eight hundred through a fund

I have roughly $620k earmarked for a land allocation and two live options that behave nothing alike. Option one is direct. Around 70 tillable acres in a single county, priced near…

21Sstephen_ok9CO2CPRO4Answered15 replies

Story

Which house are you buying for yourself? I had no answer ready.

I've been driving for dollars for four months and finally got a real conversation. Vacant looking ranch, overgrown, mail piled behind the screen. Owner called me back from three s…

aliyah_bAU2APRO96 replies

WinCo-Living / Room Rentals

Bought a 5 bed for $19k under ask because I pulled the room comps myself, then spent $11,400 on a third bathroom

Seller had a 5 bed 2 bath, about 2,300 square feet, ten minutes from a commuter rail stop in a mid size metro. Listed at $287k. His whole pitch was a one page sheet showing five r…

20Ttashaford30PB2APRO41 reply

From the desk:Broker Owner

Buying a 12-agent shop where three agents are 61% of the revenue

I've been circling a small independent brokerage in a secondary market for about four months and the seller finally sent real numbers instead of a summary page. What I have: 12 li…

jordan_ellis2ActivePRO9Answered4 replies

DiscussionBroker Owner

So a broker owner just takes a cut of everyone else's deals?

I'm trying to understand where the money actually comes from in a brokerage. My understanding, which is probably half wrong: an agent has a salesperson license and has to hang it…

priya_n21PO1CAnswered3 replies

LossNote Buying (Performing)

Borrower refinanced in month 14 and my annualized return came in under 5%

Posting this because I did the modeling carefully and still ended up with the wrong answer, and the mistake was in the structure rather than the math. I bought a partial rather th…

luis_carrera Get yours0 replies

DiscussionNote Buying (Performing)

Realistic smallest amount to buy one performing note without it being silly

Trying to size an entry position and the ranges I see quoted are all over the place. People talk about $20,000 notes and people talk about $150,000 notes as though both are normal…

21Hhannah_west29 Get yours8 replies

DiscussionMixed-Use Properties

Ground floor bay sitting empty at month five: hold for a credit tenant or fill it with the local operator at a better rent?

Two owners I have been talking to this month landed on opposite answers to the same question, and I cannot decide which one I would follow. Both have small mixed-use buildings, ap…

mikeoconnell7SP2APRO173 replies

DiscussionSmall Multifamily (2-4 Units)

House hacking a triplex: do you take the best unit or the worst one?

Nothing under contract yet, still reading. The plan is a triplex where I live in one unit and rent the other two, because that's the version of this that gets me residential finan…

ehernandez74PO2BPRO70 replies

WinLead Generation Platforms (Building)

Moved from $45 a lead to $185 an appointment, revenue up 31%

Been selling motivated seller leads to six investors in two mid-size metros for about a year. Per-lead pricing was slowly killing me. $45 a lead, roughly 240 leads a month across…

aaron_fitz10 Get yoursPRO15Answered2 replies

DiscussionOffice Buildings (Passive Hold)

Is "prime office" just a fancy way of saying Class A?

I mostly do land and zoning so office vocabulary is new to me. Two things I can't line up. Every market report I read says prime office is tightening while everything else struggl…

nicole_adeyemiPassivePRO14Answered2 replies

From the desk:Office Buildings (Passive Hold)

No debt, $85/sf, and a $2.4M reserve I think is half of what it needs

I hold land and wait, so office is off my map. This one landed anyway and I've spent three weeks on it instead of the pasture I was supposed to be looking at. The asset: 78,000 sq…

karen_whitfieldPG4APRO7Answered30 replies

From the desk:Fix and Flip (Cosmetic)

Buying the ugly duplex-shaped single family at 148k, the whole deal is the kitchen decision

Three bed one and a half bath, 1,340 square feet, built 1962, sound roof and a furnace from 2019. Seller wants 148 and will take a two week close. Comps in the pocket are 232 to 2…

mitchell_ray4 Get yoursPRO12Answered10 replies

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