every post in the forum, newest first
The industrial supply correction has been telling a consistent story for months. Vacancy around 6.7 percent at the end of 2025, construction starts way down from 2022, absorption…
Underwriting a partnership is the same problem as underwriting a deal. Look for where the value goes when things break. In a JV wholesale, the contract with the seller is where it…
Working out my service offer while I finish getting licensed. Every systems consultant I've looked at prices one of two ways. Either a flat build, call it 3,000 to 8,000, hand ove…
Consider a small rural landlord with six single family rentals, purchase prices between $58k and $92k, rents $700 to $875, running the business solo. Two yard signs on county road…
The collateral section of a mezzanine loan package is where this gets interesting. The senior lender holds a mortgage on the property. The mezzanine lender holds a pledge of the m…
Reading two offerings side by side and they're barely the same product. One is a single-asset QOF, 88 units, one tract, sponsor is local and has built four of these. I can drive t…
I've been listening to people talk about BRRRR for a while and I've been pretending to follow. Writing down what I think each word means so someone can correct me. ARV, after repa…
I've been reading this room for a couple of weeks and I can't tell which way the room actually leans on this one. The case for starting with BRRRR: if it works, the money comes ba…
Consider a 1,240 square foot single story in a county where the median runs around $118k, acquired through a deed in lieu after a seller-financed note went unpaid. How that gets p…
This is a common scene on preferred equity calls, and it is worth recognizing before sitting on one. A sponsor is raising preferred equity into the refinance of a mid 90s garden a…
A pattern worth studying: two houses, seven rooms total, run as separate room leases. If every lease was originally signed around the same time, they tend to renew on the same cyc…
The common claim in co-living is that renting four rooms beats renting the house. That is true up to a point, but the premium has a ceiling, because at some point the per-room ren…
Bought a four unit last month, $585,000, small city, plan is a light rehab and hold. First real title mess I've been through, so writing it up for anyone who thinks the search is…
For someone with construction background and only one real day a week to source deals, the choice between door knocking and calling a skip traced absentee owner list comes down to…
First one went okay, mostly by luck. This one is a slightly bigger lot in the same county and when I filed for the permit they came back asking for a stormwater management plan an…
Consider an investor who sells a seasoned performing note portfolio at a gain and wants that gain deferred into a QOF rather than taxed immediately. Two questions typically need a…
The gain wasn't mine directly, it came through a K-1 from a partnership that sold an industrial building in June. My share of the gain was $237k. I'd already picked a fund, had th…
Two common pitches from CRM consultants, worth weighing against each other directly. One approach maps a client's existing process, phone, notebook, a text thread with a partner,…
48k had been sitting in a money market since I closed an old business account, and I wanted it in REITs without doing the thing where I dump it all in on the day I feel confident.…
Take a short duration debt note book, 85k deployed across three platforms, average stated rate 9.4 percent, average term at origination 9 months. On paper that book should throw o…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
