every post in the forum, newest first
Take a two bedroom near a small college town closing in six weeks. Local cleaners in a market like that typically quote 95 to 130 dollars per turn depending on whether linens are…
I hold land for decades and I've been trying to work out whether student housing can be held the same way, because everything I read about the sector treats it as a five to seven…
A common setup for a new investor looks clean on paper: a holding LLC, one or two child LLCs, an operating agreement drafted and reviewed carefully before any property is purchase…
Income is the reason LPs put capital into a syndication, and a case worth examining is a $30k position in an apartment deal from 2022, sold back to the sponsor last year at 0.88x,…
A question worth answering plainly for anyone underwriting a park where all homes are tenant owned. Take a 34-lot park with no park-owned homes: there is no building to insure in…
Take a park under contract at $1.42M, 55 lots, 51 occupied, lot rent at $355 against a supportable market rent of $465. Public water and sewer run to the street, with everything i…
When the entire scope is paint, flooring, fixtures, a vanity swap and landscaping, with no wall opened and no system replaced, most jurisdictions require no permit at all, since p…
This was a rental I got talked into flipping instead, and the arithmetic looked airtight on paper. ARV 288 from three comps within a quarter mile, all closed inside 90 days. Repai…
Take a small town case, population about 4,200, an hour from anything. 11,000 sf building, half storefront retail and half warehouse, three tenants. Rent roll shows $86k gross, ex…
First purchase, small 3 bedroom, and I have three numbers in front of me that don't agree. The county assessor site says 218,400. Zillow says 291,000. The accepted offer is 279,00…
Duplex, contract at $410,000, lender ordered a 1025. There's a converted garage unit that's been rented at $1,400 a month for years, no permit on file, separate meter, own entranc…
Here is a loss worth laying out with its numbers, because every piece of it is avoidable. Take a four bedroom on the edge of a state school town, $340k, 5 percent down on an owner…
Looking at a 1,900 sq ft single family with a permitted 1-bed over the garage, already has its own meter. Listing at 465k. Market rent on the ADU looks like 1,450 based on three c…
Former drug store box, 12,200 sf, been dark a while. Market rent for the whole block is about $16 NNN because there are maybe two users in the trade area who want that size. Broke…
A scenario worth working through. Freestanding discount retail box, 9,100 sf, small rural town of about 3,400 people, on the state highway across from the school. Built 2011 for t…
This is a case worth studying because the failure is never in the math the buyer runs. It is in the question the buyer never asks. Take an 11,600 sf single tenant drugstore format…
I run pipe and I can read a mechanical drawing fine, but the apartment offering a friend forwarded me is a different language. It says 84 units, T-12 NOI of 612,000, going-in cap…
Bought in mid 2022. 264 units, 2015 vintage, Sun Belt metro that everyone including me thought was undersupplied. Basis $51.7M, $196k a unit. Floating bridge, 70% of cost, SOFR pl…
Transaction coordination on ordinary resales is a fairly settled lane. Double closes for wholesalers are a different animal, and it is worth working through where the exposure act…
Twenty-two months of savings is the whole renovation budget on the place I'm circling, which means the work happens at the speed my paycheck allows. That's the live-in flip pitch…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
