every post in the forum, newest first
28,000 square feet, Greensboro, former textile mill, permits still sitting at the city because the environmental phase two came back with a petroleum hydrocarbon flag nobody expec…
Sitting on a single family in South Tucson I picked up in March 2024, bought it with hard money at 12.5 percent, 65 percent LTV against a 210k purchase. Loan matures in October. T…
I'm closing on a small multifamily in San Antonio in about six weeks and trying to figure out if showing up for a walkthrough after the cleanout crew finishes actually gets anythi…
Talking to a sponsor in Phoenix about a 72-unit value-add, $4.1M raise, and the way the co-GP structure is drawn up I would carry 80% of the personal guaranty while they take 50%…
That 2021 comp was a bidding war on a gut renovation with a view lot and a pool house. Her place is a 2018 builder grade with a flat backyard and a shared driveway. I pulled seven…
A sponsor I was looking at recently had a conversion under contract, city overlay in place, feasibility done, and a pro forma that closed cleanly. Then the building department iss…
Transaction coordination is a good test case for VA economics because the output is measurable: a file either closes on time or it does not, and every missed deadline has a cost y…
A 180 acre loblolly tract at age 22 illustrates this cleanly. Say the land appraised at 1,400 per acre at purchase, so 252,000 for the dirt. The timber cruise at entry showed 3.1…
Say you log a boarded Victorian because the siding is half gone and the yard is waist-high weeds. The owner of that property may be unreachable, in probate, or simply not ready. B…
So the block was small, 14 certificates across one county, roughly 60k deployed, and when it was all said and done over about 19 months I cleared around 6,400 net. The servicer to…
Twelve months ago I was looking at numbers closer to 75 and the gap between what made sense to buy and what the seller expected was workable. Now I am seeing 85, 87, 88, and in on…
A draw procedure that works protects both sides, so it is worth spelling out exactly how the mechanics should run before the first dollar moves. The typical structure starts with…
It was late 2023, rates were still ugly, and I had about 9k sitting in a brokerage account I had been too cautious to deploy for eight months. I kept circling Prologis because eve…
Schedule B-II is where the story lives. Exceptions from coverage are not boilerplate, they are a list of things the insurer refuses to stand behind, and most buyers treat them as…
The case worth studying: a $3,000 onboarding fee, a $1,800 monthly seat, six weeks of ramp time before the VA hit anything close to a working pace, then a resignation letter and a…
A vacant unit sits at the intersection of several different timelines: the outgoing tenant's last day, the cleaning crew's availability, any repairs that only become visible after…
Four addresses on a stretch of Tuscarawas Street in Canton that I have driven past six times since February. Each time I add them to my sheet with a note like "roof bad, window on…
I've been sitting on that for three days and I still don't have a clean answer. I hold two positions, Realty Income and a healthcare name I bought in 2022 when it was down around…
Most PPMs I read say the LP preferred return accrues from the date capital is funded. That sounds clean until you look at a deal where equity sits in escrow for six weeks before t…
The answer I keep landing on is whoever can be replaced first. If the seller will talk to anyone who calls with the right price, the seller-side partner is more exposed than they…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
