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DiscussionSyndications: GP / Sponsor

Promote crystallization at refi: taking it at the cash-out or waiting for the sale

Working through a 128-unit heavy value-add where the plan is a 24 month reposition, agency refi in month 30, then hold to year 7. Purchase 14.2M, 3.9M of capex, all-in basis aroun…

joe_delgado5AP4CPRO40 replies

DiscussionTransactional Funding

Funding the A leg when the C buyer's wire lands tomorrow instead of today

Been reading funder agreements to understand where the protection actually sits, and the same-session ones are straightforward. Money goes out, A leg records or is held, C buyer's…

chriswalton8CC1CPRO152 replies

LossCorporate / Furnished Housing

Lost the placement over paperwork after $7,600 of furniture

Fourplex, older building, all four units plain long-term. Unit 2 came open in the summer and a corporate housing provider had called me twice over the previous year asking if I ev…

24Rrenee_dubois Get yoursAnswered3 replies

DiscussionBRRRR Method (Passive Angle)

What rate do you put in the refinance line when you're making the offer?

Underwriting a small multifamily BRRRR for someone and I've been arguing with myself about one cell for two days. The refinance is nine to twelve months out. Today's quoted DSCR r…

dpatel_reCS4A6 replies

DiscussionReal Estate Attorney

Is paying an attorney to read the title commitment worth it when you already have title insurance?

Under contract on a small mixed use building, first purchase over $500k for me. Title commitment came back with fourteen exceptions on Schedule B and I understood maybe nine of th…

17Ttashaford30PB2APRO42 replies

DiscussionReal Estate Attorney

Where the attorney line sits when a $199 template pack plus a drafting tool gets you 90% there

Eleven units, two states, and I've been running leases off a template pack I paid $199 for. A drafting tool now spits out addenda that read better than what I was writing myself,…

33Rrenee_dubois Get yours1 reply

DiscussionRV Parks / Campgrounds

How would I even value forty full hookup sites near a lake?

Looking at a listing for a small park on a state highway about 20 minutes from a lake. The sheet says 40 full hookup sites, 12 pull-through, rest back-in, and then in smaller type…

diane_kowalskiPassivePRO14Answered3 replies

From the desk:RV Parks / Campgrounds

Park owner offered me equity instead of cash for the season contract

I run grounds and small systems maintenance work, and a 90 site park about two hours from a national forest asked me to bid their whole season, April through October. Mowing, pede…

monica_tran3SF4CPRO11Answered2 replies

DiscussionWraparound Mortgages (Wraps)

If you were the buyer, would the due-on-sale clause be a dealbreaker for you?

Trying to figure out where I fit in this business and wraps keep coming up in every conversation I have, so I read the chapter twice and then read a sample note. Here's the piece…

7NnataliehsuSO1BPRO1014 replies

DiscussionLand Wholesaling

Is the assignment licensing question only about houses, or land too?

I look at the lending side mostly, so I come at this from the paperwork end. My understanding of an assignment is that I'm selling my contractual position, not the parcel, so no b…

dpatel_reCS4AAnswered2 replies

From the desk:Land Wholesaling

Funding a same day double close on a vacant lot. Holding what, exactly?

Someone I met at a local meetup asked me to fund a same day double close on a vacant lot. I've only done second position loans against rentals, so land is new to me. The numbers h…

sonia_alvarez Get yoursPRO6Answered9 replies

DiscussionSmall Multifamily (2-4 Units)

Underwriter used the appraiser's rent number instead of my signed lease, $250 lower per unit

Triplex at $410k, owner-occupied, I'd take unit 1 and the two signed leases on units 2 and 3 are $1,400 each. The appraiser's rent schedule came back at $1,150 market rent per uni…

megan_doyle15 Get yoursAnswered4 replies

DiscussionSmall Multifamily (2-4 Units)

Manage the first small building yourself, or hand it off the week you close?

I've owned three small buildings for about five years and this is the question I get asked most by people buying their first duplex or triplex. My own answer has flipped twice, so…

24Bbrandonlee36PassiveAnswered9 replies

LossOpportunity Zone Investing (Passive Angle)

Declined the capital call, got diluted, and the deal died anyway

Writing this up because I referenced it in another thread and people asked. 2022, I had a $120k gain from selling a parcel I'd held five years. Placed the whole thing into a singl…

22Ttashaford30PB2APRO48 replies

Story

Bid janitorial on a campus where the ops manager says he runs a power plant

A general contractor I've done work for passed my name to a facilities group looking for grounds, exterior porter and interior common area cleaning on a two building campus. Two b…

mikeoconnell7SP2APRO177 replies

DiscussionJV Wholesaling

Partner wants the assignment fee split at closing, I want to be the one who invoices

Deal in progress, 3/2 in a working class suburb, contract at 118k, buyer at 141k, so 23k of spread before title fees. I sourced it, he brought the buyer and did the walkthrough wi…

carlos_nunezActive2 replies

DiscussionTransaction Coordination

What does a transaction coordinator actually do that a good checklist doesn't?

I run the property management side of a small operation and agents keep telling me I should add coordination as a service line. Before I sell it to anyone I want to understand wha…

tonyv88SO4CPRO625 replies

DiscussionMortgage Brokerage

Bridge lender's AE says I don't need an NMLS license to broker their loans

I'm partway through the 20-hour SAFE course and an AE at a fix-and-flip lender told me to stop, that since all their loans are business purpose to entities I don't need an MLO lic…

jessreyes12AU1APRO16Answered7 replies

From the desk:Mortgage Brokerage

Broker wants exclusivity on my flip pipeline for a point a deal. Doing the math on six deals a year

I've been building the lender list for months rather than doing deals, which is its own problem, and I finally have to pick a lane. The plan is six projects a year, average loan a…

devon_pierce Get yoursPRO14Answered11 replies

DiscussionReverse Wholesaling

what software am I actually supposed to be paying for

Building my buyer list before I chase anything. I'm at eleven investors, mostly from two meetups and a couple of cash sales I found at the county recorder. Everywhere I look someo…

devon_pierce Get yoursPRO148 replies

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