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LossSmall Multifamily (2-4 Units)

Property taxes went from 4,100 to 9,800 the year after I closed on the triplex

Triplex, 470k, bought as a long hold with a manager on it so I could stay out of the day to day. Gross rents 3,975 a month. My model showed about 640 a month of cash flow after ev…

diane_kowalskiPassivePRO14Answered8 replies

DiscussionSmall Multifamily (2-4 Units)

Broker says the duplex is a "6.8 cap" but my lender never mentioned cap rate once

I'm looking at a duplex listed at $340k, and the listing sheet says 6.8% cap. The lender I talked to went through my income, my credit, the down payment, and the appraisal, and ca…

20Kkevin_lombardPG1BPRO17Answered8 replies

From the desk:Mobile Home Parks (Capital Scale)

Fee or a piece, on a submetering program across nine parks?

An operator with nine parks, about 1,600 lots in three states, asked me to scope water infrastructure work portfolio wide. This is the biggest thing I've been asked to quote and I…

mitchell_ray4 Get yoursPRO12Answered10 replies

DiscussionMobile Home Parks (Capital Scale)

Is $50k enough to get into a mobile home park fund or am I looking at the wrong thing entirely

I've got about $50k I'd want to place passively and mobile home parks keep coming up as the sector with the best cash flow characteristics. Everything I find is either a syndicati…

ehernandez74PO2BPRO7Answered3 replies

DiscussionLease Options (Rent-to-Own)

Tenant-buyer walks at month 30 of 36. Do I keep the option fee and all the rent credits?

I have four small buildings and I've never done one of these, but a tenant in one of my duplex units asked whether she could buy the unit over time and I'm reading up before I ans…

33Bbrandonlee36PassiveAnswered8 replies

From the desk:Lease Options (Rent-to-Own)

What does the option fee actually buy me if I never exercise

Reading an option agreement a family friend's agent sent over. House near my sister, asking $289k, and the owner has offered a lease with an option because it's been sitting. The…

marcus_hale41CG4A1 reply

WinPrivate REITs (Investor)

Turning off the reinvest box before funding is the whole reason it worked

I put 12k into a public non-traded REIT last year. This is the smallest amount I've ever felt nervous about, and the reason I'm writing it up is that the part that mattered wasn't…

jessreyes12AU1APRO1620 replies

LossHome Staging

spent 2,100 staging bedrooms. every comment was about the kitchen.

First house I ever sold, small three bed, and I wanted to do it properly so I hired a stager. I told her my budget was around 2,000 and she asked which rooms mattered most. I said…

jessreyes12AU1APRO162 replies

Story

My yield model survived exactly one real tape

Spent about six weeks building a spreadsheet for performing notes. Remaining term, rate, purchase price as a percent of balance, yield to maturity, and a column where I'd stress t…

luis_carrera Get yours1 reply

DiscussionSeller Financing (As Seller)

Setup and collection costs on a note I'd be carrying myself

Trying to figure out the actual line items on the seller side. My understanding is I hand over a deed, get a note back, and then money shows up monthly. That can't be free. So: wh…

26Kkevin_lombardPG1BPRO17Answered1 reply

From the desk:Seller Financing (As Seller)

A buyer on my vacant lot asked if I'd take payments. Signing what?

I have a 1.1 acre vacant lot I've been trying to sell for 95k. Been listed nine months, two lowballs, and now someone wants it for the full 95 if I'll take 10k down and payments o…

luis_carrera Get yoursAnswered2 replies

DiscussionSmall Multifamily (2-4 Units)

Four one-beds or two-and-two: which mix would you rather own at this size?

Two fourplexes on my list, within 15k of each other on price, and the mix is the only real difference. Building A is four one-bedrooms at 900, so 43,200 gross. Building B is two t…

14Kkevin_lombardPG1BPRO177 replies

DiscussionSmall Multifamily (2-4 Units)

Shared hallway, shared laundry, four tenants who all know each other's business

Something that doesn't come up when people compare a fourplex to four houses: in a fourplex the tenants share space, and they compare notes. Parking spot two is closer to the door…

chriswalton8CC1CPRO155 replies

DiscussionAdaptive Reuse / Conversion Projects

Can a first project be a conversion, or does that only work on deal five?

A broker forwarded me a two story former medical office, about 11,000 sf, asking around $58/sf in a small city where finished two bedrooms lease fine. My first thought was that it…

mikeoconnell7SP2APRO1720 replies

From the desk:Short-Term Rentals / Airbnb

How do I judge whether a lake town's rules will still be the rules?

This is the kind of question I'd have kept my mouth shut about in a room full of people, so here it is in writing. Two bed two bath condo in a lake town about two hours from where…

jessreyes12AU1APRO16Answered17 replies

DiscussionShort-Term Rentals / Airbnb

The STR permit doesn't transfer, though the seller says everyone reapplies

$465k, 3/2, walkable to the main street of a small tourist city. The city licenses short-term rentals annually and caps non owner occupied licenses at 4% of the housing stock. The…

jordan_ellis2ActivePRO9Answered10 replies

DiscussionWholesaling

assignment fee vs commission, is the difference just what you call it?

Mostly I read about notes so this is new ground for me. An agent sells a house and gets a commission. A wholesaler assigns a contract and gets an assignment fee. In both cases som…

raj_mehta14CapitalPRO134 replies

WinWholesaling

Buyer first, then the house. My second deal never got publicly marketed anywhere

First deal I did the normal way, locked a property and then panicked for two weeks looking for someone to take it. Fee was $3,100 and I nearly blew the closing date. This one I ra…

megan_doyle15 Get yours6 replies

DiscussionTransactional Funding

Fee income on transactional funding looks great per deal and terrible per year

Running the numbers on sitting on the funding side of these rather than owning anything. A funder quoting 2% flat on a $200k A-B leg collects $4,000 for money that's out maybe six…

priya_n21PO1CAnswered7 replies

From the desk:Transactional Funding

First double close on my desk, and the funding fee eats more than I planned

I run closing coordination for a couple of wholesalers, mostly chasing signatures and title conditions. One of them just sent me a deal she wants to double close instead of assign…

mikeoconnell7SP2APRO17Answered21 replies

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