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From the desk:Opportunity Zone Investing

A 180 day clock on 486k of gain, into a zone that expires in 14 months

Sold a 12-unit in June. Gain after depreciation recapture is about $486k, and my 180 day window closes in early December. So whatever I do, I do it inside a currently designated t…

39Bbrandonlee36PassiveAnswered20 replies

DiscussionOpportunity Zone Investing

Do I sit out the transition or buy a tract that's about to expire?

I've been modeling a $400k gain going into a single-asset fund. The building I keep coming back to is a 1960s two-story retail block, asking $520k, and about $300k of that looks l…

jordan_ellis2ActivePRO9Answered10 replies

DiscussionWraparound Mortgages (Wraps)

Wrap spread looks like 3 points until I actually amortize both notes

Ran the numbers on a deal in front of me and the headline spread is misleading. Underlying: 218k remaining at 3.9, roughly 22 years left, payment 1,430 plus escrow. Proposed wrap:…

tylerbrooks9PassivePRO42 replies

From the desk:Wraparound Mortgages (Wraps)

Seller wants a wrap and I do fast flips. The numbers don't fit.

Been doing quick turns, 60 to 90 days, buy with hard money at 11.5% and two points, out. Never held anything. Somebody brought me a seller who won't take cash and I don't know how…

joe_delgado5AP4CPRO413 replies

DiscussionResidential Property Management

One PM says 8% of collected, the other says 10% of gross scheduled. Same range on paper?

Got two management proposals on a small portfolio and I can't make them line up. First one: 8 percent of collected rent, $0 setup, one full month for a new tenant placement, $200…

joe_delgado5AP4CPRO47 replies

From the desk:Residential Property Management

22 units, paying $29,400 a year in management, trying to price the in-house version honestly

Every unit teaches something and this one is teaching me about my own time. 22 units across three small multifamily buildings, all within nine miles. Gross scheduled $24,500 a mon…

31Rrenee_dubois Get yours4 replies

From the desk:Real Estate Debt Funds

40k left over after my first rental closes, and debt funds keep coming up

Closing on a small single family rental in three weeks. After down payment, closing costs and the first insurance premium I'll have about $40,000 sitting in savings earning basica…

paulgrant17PassivePRO76 replies

DiscussionReal Estate Debt Funds

Zero delinquencies reported, 24% of the book past original maturity

Working through a quarterly report on a bridge fund. The credit summary says zero loans 60 days delinquent and zero in foreclosure. Then the loan schedule shows 15 of 62 loans wit…

derekj19SB1B4 replies

From the desk:Virtual Wholesaling

Eight hours a week is what I have. What does that actually buy?

I've got eight hours a week and I'm not interested in inventing more. That's the whole constraint. Weekends are not available and evenings are half available. Everything I read ab…

tylerbrooks9PassivePRO4Answered3 replies

DiscussionSyndications: LP (Capital Provider)

I hold back a third of my allocation for capital calls. Discipline or drag?

Got a capital call notice last spring on a 1970s vintage multifamily position, 11 percent of original equity, framed as funding an extended lease-up and topping up the interest re…

monica_tran3SF4CPRO113 replies

From the desk:Co-Living / Room Rentals

Where is the management cost in this co-living operator's numbers?

This is my first look at anything in the shared-housing space, so beginner questions ahead. An operator I've met twice is raising for a small fund, six houses, all rented by the r…

marcus_hale41CG4AAnswered3 replies

DiscussionCo-Living / Room Rentals

Insurance agent asked how many unrelated adults, then went quiet

I called for a quote on a four-bedroom house I'm analyzing, told the agent I'd be renting the bedrooms individually, and the first thing she asked was how many unrelated adults wo…

luis_carrera Get yoursAnswered5 replies

DiscussionNote Buying (Performing)

Servicer transfer at closing keeps eating my first-year yield

Running numbers on single-note purchases in the $40k to $70k price range and the friction is worse than the models I've seen assume. Between the transfer fee to move a loan to my…

bmoreno23AB1B6 replies

From the desk:Note Buying (Performing)

Somebody offered me a note. I don't understand what I'd own.

A guy in a local investor group is selling a note and offered it to me because I said I had money sitting and no properties. I've read about this for maybe three weeks and I don't…

megan_doyle15 Get yours4 replies

From the desk:RV Parks / Campgrounds

Can a small campground ever be actually passive or am I fooling myself

What I want is income that does not become a second job. I have been looking at small parks in the 500k to 900k range because the returns on paper look better than the small renta…

priya_n21PO1C3 replies

DiscussionTax Lien (Capital Scale)

Six states on my tracker, all delinquent for the same two reasons

I'm 40 certificates in across six states and I picked those states specifically so I wouldn't be exposed to one housing market. Spent an evening going through why the owners were…

samantha_ruizAU4APRO55 replies

LossCrowdfunding (Platform Investor)

I read the 9 percent as a payment schedule. It was a target.

First time putting money into a crowdfunded deal instead of swinging a hammer on my own project. $5k into a value-add apartment deal on a platform, 82 units, plan was renovate uni…

gregpowell66AG4BPRO122 replies

WinPublic REITs (Investor)

Rebuilt the whole sleeve around sector weights instead of yield, and it worked

Two years ago my REIT holdings were a yield screen. I owned whatever paid over 6 percent, which in practice meant a lot of older retail, a couple of net lease names with thin cove…

tonyv88SO4CPRO6Answered6 replies

DiscussionPublic REITs (Investor)

Is a 6 percent REIT yield a warning sign or normal?

Just started looking at this stuff. Two things tripped me up in the same afternoon. First, I pulled up a REIT and its price-to-earnings number looked insane compared to normal sto…

gregpowell66AG4BPRO12Answered12 replies

DiscussionOff-Market Deal Sourcing

Do I need insurance before I'm even under contract on anything?

Mid-process on a couple of things and realized I've never thought about this. I'm not buying, I'm putting properties under contract and assigning. Nobody has mentioned insurance t…

carlos_nunezActive2 replies

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