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DiscussionAccessory Dwelling Units (ADUs)

Owner-occupancy clauses are the part of ADU rules nobody prices in

Reading through three different ordinances in my metro and the thing that keeps changing the math isn't setbacks or size caps, it's the owner-occupancy condition. Two of the three…

priya_n21PO1C0 replies

From the desk:Accessory Dwelling Units (ADUs)

Is $168k for a backyard cottage a deal or a wall?

I own a three bedroom house on a lot that has an unusually deep backyard, and the whole reason I bought it four years ago was that someone told me I could put a small unit back th…

priya_n21PO1C5 replies

DiscussionOffice Buildings (Passive Hold)

Every office deck assumes a five year hold. Honest, or just the model?

I've been reading passive office offerings for about four months now, slowly, and something is bugging me. Almost all of them run a five year business plan. Buy at a discount to w…

ehernandez74PO2BPRO7Answered18 replies

DiscussionPrivate REITs (Investor)

Does the door you come in through change what a non-traded REIT offers you?

Rural markets and low price points are my usual lane, so a $2,500 minimum on a registered non-traded REIT was the first thing in this category I could reach at all. Then I found t…

11Llaurenkim53Passive2 replies

DiscussionSingle-Family Rentals (SFR)

New build-to-rent at 5.1 percent yield or a 1974 house at 6.8 with a roof question

I've got two houses I can realistically pursue in the same metro, forty minutes apart. The first is a build-to-rent unit in a new subdivision, everything under warranty, likely ca…

11Rryanmck27SC2C1 reply

DiscussionCorporate / Furnished Housing

New, used, or rented: how would you put furniture in a first corporate unit?

I'm looking at a small house near a business corridor and the furnishing decision is the part I keep going back and forth on. Three ways I've seen described here and elsewhere, an…

diane_kowalskiPassivePRO141 reply

DiscussionMortgage Brokerage

Taking a warehouse line and table funding our private files, or staying a pure broker

Ran the numbers on this over the weekend and I still can't get comfortable either way, so I'll put it to the room. We closed 61 files last year, 44 of them investor deals on the p…

monica_tran3SF4CPRO111 reply

DiscussionEducation / Coaching

Should student results be the headline number or is that setting up a promise I can't keep

I manage about ninety units and I've been writing up the leasing side of it for a year, mostly because I got tired of explaining the same showing script. Enough people have asked…

tonyv88SO4CPRO61 reply

DiscussionLand Wholesaling

Do you tell the seller you're a wholesaler on the first call or wait

Building a list right now, no deals yet, and I'm rehearsing calls with a friend so I don't freeze. The part I keep changing my mind on is whether the words "I'm going to assign th…

devon_pierce Get yoursPRO143 replies

From the desk:Mobile Home Parks (Capital Scale)

Somebody's raising a $40M park fund and wants $50k. What do I ask?

I run active deals, small stuff, and I've never been the passive money before. Guy I've known from a local meetup for three years is raising a $40M fund to buy manufactured housin…

carlos_nunezActiveAnswered11 replies

DiscussionMobile Home Parks (Capital Scale)

The infill math stops working at $42k a home, so what am I missing

Fund II strategy is infill on the vacant pads we already own. 3,200 pads across the portfolio, 470 vacant, mostly clustered in six parks in the Southeast where the market lot rent…

wendy_park48CapitalPRO158 replies

WinLand Banking (Buy and Hold)

The discount my partner accepted in year four was the whole return

Two of us bought 40 acres of dryland at the exurban edge in 2019, $5,200 an acre, $208,000, 50/50 through an LLC. No income, taxes about $1,900 a year at the time, split. The thes…

chriswalton8CC1CPRO15Answered9 replies

DiscussionLand Banking (Buy and Hold)

Who actually buys the parcel in year 12?

I'm looking at 60 acres about nine miles past the last recorded subdivision. Asking is $4,200 an acre, so $252k, taxes run about $1,900 a year on the current ag classification, no…

monica_tran3SF4CPRO11Answered14 replies

DiscussionSubject-To Financing

Whose name goes on the insurance when the loan stays in the seller's name?

Duplex under contract subject-to, seller's loan balance around $211k at 3.75%, and her hazard premium is paid out of her escrow. My insurance agent says he can't just add me to he…

22Bbrandonlee36PassiveAnswered4 replies

From the desk:Subject-To Financing

Sub-to on a farmhouse with 11 acres, and the lien covers all of it

Deal in front of me: 1970s farmhouse on 11.4 acres at the edge of a growth path, seller relocating, existing loan 211,600 at 3.75% with 26 years left, PITI 1,430 (P&I 1,038, taxes…

nicole_adeyemiPassivePRO14Answered9 replies

DiscussionMezzanine Financing

Senior lender told me no mezz, pref equity only. It's the same $2.5m either way

$16m acquisition, senior quoted $12m at 6.75 with a 1.20x DSCR test, and I'm $2.5m short of closing. Found a group willing to do it as a mezz loan at 12 with 9 current and 3 accru…

samantha_ruizAU4APRO5Answered4 replies

From the desk:Mezzanine Financing

What does it mean when someone says the mezz sits in the middle of the stack

A client of mine described a deal as "senior at 60, mezz to 78, then equity" and I nodded like I understood. I get that it's layers. What I don't get is what the layers actually m…

mikeoconnell7SP2APRO17Answered1 reply

WinTitle Company / Title Services

Ran title on eight seller files before listing. Two came back with problems.

Five years in and I'd always treated title as the buyer's side of the fence. Changed that this spring after a listing died at day 34 over an old lien, which cost me the fee and th…

monica_tran3SF4CPRO114 replies

WinJV Wholesaling

The buyer's contractor came in 19k higher than the number holding my price

Found this off a service call. Homeowner in a 1970s ranch had a repipe quote she couldn't pay and a plumbing problem that was going to get worse. She wanted out. I'd been reading…

mitchell_ray4 Get yoursPRO125 replies

LossHome Inspection

Spent $2,400 marketing pre-listing inspections and booked three jobs

Adding a pre-listing inspection product looked easy on paper. Sellers want to know what's coming, they'd rather find the bad news themselves, and I already had the inspector relat…

monica_tran3SF4CPRO111 reply

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