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WinBookkeeping (Real Estate)

A second checking account and thirty minutes on Sundays fixed my books

I've got four rentals and I'd stopped pretending my books were real. Everything ran through one business checking account, deals in progress mixed with rentals, and every March wa…

carlos_nunezActive6 replies

DiscussionBookkeeping (Real Estate)

Who breaks up the settlement statement, bookkeeper or CPA?

$240,000 purchase, and the settlement statement has about $6,300 of items on my side that I don't know what to do with. Loan origination $2,400. Title and settlement fees $1,150.…

11Hhannah_west29 Get yours4 replies

LossMid-Term Rentals (30-90 Days)

She left on day 26 of a 90 day lease, which my own lease let her do

First furnished unit, a 2 bedroom condo I bought last year and switched over from unfurnished. This is the part I got wrong and it wasn't the furniture or the pricing. I listed at…

bmoreno23AB1BAnswered11 replies

DiscussionMid-Term Rentals (30-90 Days)

At 82% occupancy the mid-term premium disappears entirely

I've run this spreadsheet three times and the answer changes every time, because I don't know what belongs in the occupancy row. Duplex, one side would be the test unit. Unfurnish…

11Kkevin_lombardPG1BPRO17Answered7 replies

Story

The seller who cried is the one who signed, out of two kitchens in a month

We get called into houses right after a wholesaler locks them up, my service team is small, and I sit in more of these kitchens than I ever meant to. Two in the same month. First…

angela_burkeServicePRO127 replies

DiscussionDouble Close Wholesaling

If the spread is small, is paying for two closings ever worth it?

The wholesalers who keep calling me have me trying to figure out what they're actually doing, and my own work is on the rental side, so treat this as an outsider's question. What…

paulgrant17PassivePRO74 replies

WinPublic REITs (Capital Deployment)

A written weighting rule is what saved my 14-month REIT sleeve

Closed out the first full cycle of something I set up deliberately, so here's what actually happened. Setup: 140k allocated to a public REIT sleeve, deployed in four tranches over…

15Ttashaford30PB2APRO45 replies

DiscussionMobile Home Parks / Manufactured Housing

Same market, two parks: 6.5 percent cap on city utilities or 8.75 on a private water plant

Two parks came across the same week from two brokers, twenty minutes apart in the same county. I'm nowhere near buying either, I'm trying to understand the spread. Park A, 52 lots…

bmoreno23AB1B2 replies

WinOffice Buildings (Passive Hold)

Three years into a prime office recap that actually paid what it said

Since I've posted two losses in this room I owe the other one. In early 2023 I put $60k into a recapitalization of a newer office tower in a strong downtown submarket. Built 2016,…

priya_n21PO1CAnswered23 replies

DiscussionHouse Hacking

Does roommate rent count when the lender adds up my income?

The Fannie Mae change that lets you count ADU rent toward qualifying income on a one-unit house, up to 30 percent, has me confused. My plan was a three bedroom single family where…

aaron_fitz10 Get yoursPRO15Answered4 replies

From the desk:House Hacking

Stuck on whether an unpermitted garage conversion counts under the ADU income rule

Under contract inspection period on a 1974 ranch, 1,480 square feet, asking 389k. The detached garage was converted to a studio at some point with a kitchenette, a three-quarter b…

raj_mehta14CapitalPRO13Answered16 replies

DiscussionLease Options (Rent-to-Own)

First lease option with $9k saved: live in it, or treat it as paper?

I've got about $9,000 set aside and no shot at a conventional mortgage for another year or two, so I've been reading up on lease options instead of just refreshing listings. What…

bmoreno23AB1B12 replies

DiscussionSeller Financing (As Seller)

Is "installment sale" the same thing as seller financing or is that a tax word?

I'm winding down a small service business and I also own the building it runs out of. My accountant used the phrase installment sale when I mentioned carrying paper for the buyer,…

angela_burkeServicePRO121 reply

From the desk:Seller Financing (As Seller)

Carrying paper on a rehab I've owned 11 months, and my CPA hasn't called back

Four unit, bought at 415k, put 90k into it, all four units now leased at market. Two offers, both bank contingent, both wobbly on the appraisal because there is not much comparabl…

carlos_nunezActive16 replies

From the desk:Pre-Foreclosure Outreach

Eleven default names across four counties, and I've stared at one all week

I pay 40 dollars a month for a tool that emails me new notice-of-default filings in four rural counties I grew up around. Last month it sent 11 names. Most are houses in the 70 to…

15Llaurenkim53PassiveAnswered21 replies

DiscussionPre-Foreclosure Outreach

how much do I actually need to spend to start working pre-foreclosures

I do fast flips with thin margins and I want to add this as a lead source, but every course I look at wants four figures before I've seen a single address. What's the real cost of…

joe_delgado5AP4CPRO4Answered2 replies

WinMarketing / PPC Agency (Real Estate)

$186k of ad spend later, one channel turns out to be carrying all of it

Until March I could tell you what we spent and how many leads came in and nothing in between. The agency reported cost per lead by channel, monthly, and I signed off on it for thr…

27Hhannah_west29 Get yoursAnswered27 replies

DiscussionLuxury Flips

Designer of record or flipper-led with an hourly consultant on a 3M renovation

I sat in on a walkthrough of a 3.1M gut where the designer was on a percentage of construction cost and had sign-off authority over the GC's submittals. Two days later I read a sc…

megan_doyle15 Get yours11 replies

DiscussionShort-Term Rental Co-Hosting

Nine units on Airbnb's native tools and the tenth is what breaks it

I run nine short-term units for six owners, all listed on Airbnb only, no Vrbo, no direct booking site. Everything runs off the app plus a shared calendar, a cleaner group chat, a…

angela_burkeServicePRO123 replies

LossSmall Multifamily (2-4 Units)

6,800 on three fourplexes I never bought, all dying at the same step

Fourteen months, three properties under contract, none closed. Costs: 1,900 on the first including a sewer scope, 2,400 on the second, 2,500 on the third which included a lender a…

ehernandez74PO2BPRO73 replies

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