someone asked, the room worked it out
Closed on a new build in Conroe six weeks ago, 334k, and the whole time we were under contract the listing agent kept telling us the structural warranty kicked in at close. Thirty…
I got my license in March and I'm still trying to understand how experienced operators set their max purchase price. Every example I find online starts with "I bought it for 60k a…
34 notes, 12 sellers, one spreadsheet someone emailed me last week with a tab just called "tape" and no explanation. I've been researching performing note buying for about four mo…
I have done gap funding on the flip side so I understand the mechanics, but this is my first time looking at a straight mezz position as the capital source and I am trying to get…
Take a deal summary showing a 6 percent pref, an 80/20 split and a 36-month projected hold, with a projected IRR that still comes out to 16. The pref looks low against what has be…
I parked 112k into a self-directed Roth about eight months ago, Fidelity rollover from a job I left in 2021. First note I tried to fund was a 65k second lien on a single-family in…
This is worth walking through as an illustration. An operator underwrites a duplex to a 187,000 ARV on the strength of a comp that closed at 191,000 in April 2023. The refinance a…
Conventional wisdom in my circle was that any retail component in a residential deal drags the whole thing down, too much vacancy risk, too much TI exposure, and lenders who price…
There is a line attorneys use with owners about to carry paper, and it deserves more attention than it gets. The note is only as good as the collateral. The plain version is that…
Take a 144 bed property near a mid size state school where a 50k LP position goes in and the projections put first year distributions around month 10. Month 11 arrives and nothing…
Here is a scenario worth working through. A buyer is under contract on a lot with a March 14 closing, and a survey that cost 650 shows the previous owner's concrete pad sitting ab…
Looked at from the capital side, the boarding houses that attract preferred equity are the 12 to 18 room properties where the operator understands licensing and management but can…
Bought a condo in Denver's Sloan's Lake area in early 2023 for $410k. Put about $38k into it, kitchen, primary bath, new flooring throughout, finished out a small storage room int…
I keep thinking it gives me an edge because I can walk a site and price the horizontal work in my head without calling an engineer first. I did that on a 12-lot parcel outside Tul…
The conventional wisdom in rooms like this is that a double close needs a spread big enough to eat both sets of closing costs or the structure is wasted. Run two Cleveland example…
On a 28 month option term, the scenario worth planning for is a cash buyer showing up in month 14 and the seller deciding to entertain it.
It was a guy at a site I was doing punch list work on, investor type, said he'd tried paid search in a mid-size Ohio city, Youngstown area, and burned through about $2,400 before…
Been watching this pattern for a few months now. I scope a default lead, request the payoff through the servicer, and the clock on the auction keeps moving while I wait. Three lea…
This produces two different answers depending on which capital event you assume, and it is worth walking through with real numbers. Take a 48,000 sf spec industrial shell outside…
A useful example of what a good VA actually produces. Say an agent hands a VA six expired listings in the 92078 zip, all expired within the past 45 days by sellers who priced too…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
