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Discussionsomeone asked, the room worked it out From the desk:live deals, numbers on the table Wins & lossesit finished, here is how it went Pollsone click, then see the split Storiesthe tenant, the seller, the sideways closing All

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WinVirtual Wholesaling

Title refused the assignment three days out. My addendum file saved $14,300.

This one closed last month and most of what mattered was the paperwork, so bear with me. The property: a 1,450 square foot two story in an older working class neighborhood about 9…

wendy_park48CapitalPRO158 replies

LossJV Wholesaling

Title refused the assignment three days out and the contract had no fix in it

Deal was 118k on a 3/2 in a first ring suburb, going out at 133k, fee 15k, split 60/40 to my partner because he brought the seller and I brought the buyer. My first real fee and I…

bmoreno23AB1B0 replies

WinLive-In Flip

The file on my first live-in flip borrower taught me more than the loan

I look at deals from the lending side and I'd never seen one of these come across as a borrower profile until this spring. Someone came to me for a second position loan of 60k aga…

sonia_alvarez Get yoursPRO64 replies

DiscussionLive-In Flip

basis tracking on 26 months of my own labor, where does the line fall

I'm two years out of a different career and running the numbers on a live-in flip before I commit, and the piece I can't resolve is basis. Say purchase at $265,000, and over 26 mo…

bmoreno23AB1B5 replies

From the desk:Mixed-Use Properties

The bank wants a stabilized DSCR I can't hit with 5,000 feet empty

Six months of looking and this is the first thing I've written an LOI on, so tell me what I've got wrong. Secondary midwest city, edge of a downtown that's had two zoning changes…

jordan_ellis2ActivePRO911 replies

DiscussionMixed-Use Properties

Retail lease says triple net but the building has one water meter

Reading a lease pack on a corner building, five apartments over two storefronts. The commercial lease says the tenant pays its proportionate share of taxes, insurance, and utiliti…

30Ddmitri_v6CapitalPRO71 reply

From the desk:Home Inspection

Neither inspection agreement covers the smart systems I'm buying

I'm under contract on two houses in the same suburb, closing 11 days apart, and I ended up with two different inspectors because of scheduling. So I have both agreements side by s…

marcus_hale41CG4AAnswered1 reply

DiscussionHome Inspection

Licensing and insurance to hang out a shingle as an inspector

Inspection keeps coming up as the piece of my real estate service work that I could do myself rather than refer out. What I can't find a straight answer on is the cost to be legit…

mikeoconnell7SP2APRO17Answered4 replies

WinMezzanine Financing

The sponsor sold early and my mezz slice still paid 1.30x

I put $90k into a $3.2m mezzanine tranche on a 112-unit workforce apartment deal, expecting a 36 month hold. The sponsor sold at month 14 and I got paid $27k on top of my principa…

35Sstephen_ok9CO2CPRO4Answered1 reply

WinSelf-Storage (Passive Hold)

Gravel and a fence on 2.8 acres now cover the taxes and then some

I bought this parcel in 2016 because it was cheap and sat on a highway just past the edge of town. Held it, paid the taxes, mowed it twice a year, did nothing with it. Nine years…

nicole_adeyemiPassivePRO146 replies

DiscussionAgricultural Land / Farmland

What makes people buy timberland at a 5.5% expected total return?

Running numbers on a 640 acre southern pine tract, mixed age, roughly 30 percent in stands 18 years or older. Ask is $2,650 an acre so about $1.7m. Standing inventory appraisal su…

30Rryanmck27SC2CAnswered1 reply

From the desk:Agricultural Land / Farmland

He wants an answer this week. I still don't know what cash rent means.

Somebody I do work for is selling 78 acres about two hours from me and offered it to me before it lists. Asking $6,100 an acre, so roughly $476,000. I run a service business, five…

monica_tran3SF4CPRO11Answered2 replies

From the desk:Bird Dogging (As Service)

My biggest client just hired an in-house acquisitions guy. He's 61% of revenue.

Three spotters, five investor clients, and last month we delivered 74 accepted leads. Revenue split: the big client took 45 of those at $250 accepted plus $1,250 on close, and clo…

angela_burkeServicePRO12Answered5 replies

DiscussionBird Dogging (As Service)

If I'm the one paying for leads, is it per lead or only when I close?

I've got capital and no deal flow, and two people have offered to send me leads. One wants a flat amount per lead he sends. The other wants nothing up front and a cut when I close…

25Sstephen_ok9CO2CPRO4Answered4 replies

DiscussionCo-Living / Room Rentals

Reserve line on a five room house: per room, per square foot, or a slice of gross

Re-underwriting three room-rented houses for a partner and the reserve line is the softest number in every one of them. I can defend rent, I can defend taxes and insurance within…

dpatel_reCS4AAnswered2 replies

Story

Most of my appraisal happened in the guy's car

I asked the listing agent if I could tag along on the appraisal for a split level I was under contract on, and she said sure as long as I stayed out of the way. So I stayed out of…

aaron_fitz10 Get yoursPRO158 replies

DiscussionAssisted Living / Residential Assisted Living (RAL)

Which exit do you underwrite, a multiple of care earnings or what the house is worth as a house

I am underwriting a 10-bed conversion and the exit assumption is doing more work than anything else in the model, so I want to see how this room handles it. Version A, real estate…

dpatel_reCS4A3 replies

LossCRM Setup / Systems Consulting

The build was $4,900. Getting our own data out of it cost another $1,800

Our partnership has four of us tracking a slow acquisition pipeline and a lender list, and we hired a consultant to build the whole stack. Pipeline for properties, a second pipeli…

37Ttashaford30PB2APRO40 replies

DiscussionCrowdfunding (Platform Investor)

Twelve positions in one year, or four a year for three years

I've got a sleeve I want to put into crowdfunded deals over time, and the sequencing is where I keep stalling. Not the amount, the pacing. One way: pick a couple of platforms, tak…

12Rryanmck27SC2C3 replies

LossPre-Foreclosure Outreach

Opened with 'I saw your default filing.' Nine seconds later the call ended.

For anyone new: a notice of default is the document a lender or trustee records at the county when a borrower is far enough behind for foreclosure to start. It's public. That's ho…

carlos_nunezActive6 replies

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