every post in the forum, newest first
The math that breaks it is straightforward. Take a 6-bed home at $4,500 per resident per month at full census. That is $27,000 gross at stabilization. But month two, with two resi…
So he has a Dallas deal he's syndicating informally, two other guys already in, and he asked if I want to put in $15k alongside them. Not through a fund structure, just a written…
I got curious about this after the 41% thread because I realized I have no idea what the floor is. Like what percentage would make you throw the list out entirely versus keep dial…
Four townhomes under construction right now in Burleson and I am already getting DMs asking how I structure the builds, how I find the zoning pockets, how I handle the financing w…
A property manager told me this week that her best 55-plus community was the one where she did the least. Ninety-one units, about 78 percent occupied at the time, and the resident…
I keep thinking about what that word is doing in that sentence. Standard means the attorney has seen it before, not that it is harmless to this buyer. Cross-collateralization ties…
Picked up a 14-pad community outside Ardmore two years ago as part of the Oklahoma land habit bleeding into something more operational. Eleven of those pads have park-owned homes…
My aunt's duplex is in a mid-size Ohio city and I have been loosely poking around whether the vacant lot behind it could ever be split off. The city website says utility extension…
A deal worth studying: a 48-unit garden-style project in a secondary market, senior balance at 3.1 million, a crowdfunded mezzanine position behind it at 680k, and a sponsor who s…
A 1.75x EM over five years works out to roughly 11.8 percent annualized if you compound it straight. Getting from there to 15 percent IRR requires the model to front-load cash flo…
I finally stopped doing that this year. We have nine units across Cleveland and every fall I was reacting, meaning I was pulling leaves out of gutters after the first freeze had a…
The standard framing when underwriting a non-performing first is to sketch three paths: modification at a reduced payment, deed in lieu, and foreclosure. Most buyers assign rough…
A market with a large teaching hospital or a military installation is easy to picture: traveling nurses, contractors, TDY personnel, and the demand case writes itself. What I am l…
A case worth studying: a seller has 190k in confirmed equity on a 340k property, auction set 38 days out, and the investor writes an offer the same week the notice of default is p…
I did two rounds of mailers before I realized I'd spent $800 and talked to nobody who actually owned a motivated problem. Curious whether relationships or door knocking or just be…
Asking because I'm looking at a property in the Maryvale area, eight rooms, owner calls it a rooming house but the city license says six, the rent roll says eight, and the floor p…
I run a small debt fund so I spend a lot of time thinking about where I sit in the capital stack, and preferred shares on public REITs have started showing up in conversations I'm…
Distributable earnings, or sometimes called core earnings depending on the filing, is the number that tells you whether the dividend is covered, and several agency mREITs report G…
A deal with a 7 percent pref and a 70/30 split sounds straightforward, but the calculation changes materially depending on whether the pref accrues on committed capital from day o…
A controller at a mid-market operator said something to me last week that I have been turning over since: most buyers model the current assessed value forward with a modest annual…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
