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DiscussionLuxury Specialist Real Estate Agent

What a year of trying to work the top of the market costs before any of it pays

I've been building the cost side of this on a spreadsheet for a month and the number keeps growing, so I want to know which parts of it are real. What I have so far, annual, for s…

aliyah_bAU2APRO921 replies

From the desk:Title Company / Title Services

What is a closing protection letter actually protecting?

Studying for the producer exam and closing protection letters keep coming up in a way I don't fully follow. I understand the owner's policy insures the buyer's title. I understand…

26Rryanmck27SC2CAnswered1 reply

DiscussionPre-Foreclosure Outreach

Underwriting a default lead to rent numbers keeps killing deals my whole area is buying

I pulled 14 notice-of-default leads in one county over five weeks and ran every one twice, once to a rent number and once to a resale number. On rents, at a 7.9 percent gross yiel…

priya_n21PO1C2 replies

DiscussionLuxury Specialist Real Estate Agent

Buyer agreement says 2.5%, seller's off-market terms say 1.5%. $6.4M house, $64k hole.

Off-market deal, seller's agent sent terms before anything is papered. Purchase price is going to land around $6.4M. My buyer-broker agreement with the client is 2.5%, so $160,000…

joe_delgado5AP4CPRO4Answered8 replies

From the desk:Luxury Specialist Real Estate Agent

I keep landing on a top-of-market staging number I can't say out loud

I've been staging and prepping listings for five years, mostly median-price work, $2,800 to $4,500 a job, 30 to 45 days, turn it fast and move on. Two luxury agents in my market h…

monica_tran3SF4CPRO110 replies

DiscussionHome Staging

Where does the staging line actually live in a flip model?

Every one of the small flippers whose deals I underwrite hands me the staging number in a different place. One puts it in the rehab budget as a line item next to appliances. One p…

dpatel_reCS4A5 replies

DiscussionBRRRR Method (Active Operator)

Rehab landed 18k over budget, so the refinance won't pay off the hard money

Numbers first. Bought at 145k, budgeted 55k on the rehab, actual spend landed at 73k. Most of that was a sewer lateral nobody caught and a roof that went from patch to full tear-o…

omar_haddadActivePRO17Answered3 replies

DiscussionBRRRR Method (Active Operator)

Does the R in repeat actually require getting all your money back out?

BRRRR has come up in my reading for a few months now and the same disagreement between sources keeps showing up, so I want to see how this room splits. The classic version says th…

ehernandez74PO2BPRO70 replies

WinReal Estate Agent (Listing Agent)

The part of a tiered commission where the tier actually paid

I sold the condo I'd lived in for nine years to fund the thing I'm slowly building. Because I read everything twice, I asked all three agents whether they'd do a tiered structure…

16Kkevin_lombardPG1BPRO17Answered3 replies

DiscussionReal Estate Agent (Listing Agent)

Is the listing side actually the safer place to build, or is that just what everyone says now

Trying to work out which side to point myself at. The story I hear constantly is that the settlement hit buyer agents and left listing agents alone, so build a listing business, c…

aaron_fitz10 Get yoursPRO15Answered4 replies

DiscussionJV Capital Provider

What does a preferred return actually buy the money side?

I've been reading two JV term sheets a friend forwarded me with the names taken out, and they split the same way on paper but they get there differently. The first one gives the c…

chriswalton8CC1CPRO152 replies

From the desk:Office Buildings (Passive Hold)

Offered 8 percent of a half empty building with 14 months to maturity

An owner I've done work around asked if I want a small piece of a building instead of an invoice, and I don't know enough to say yes or no intelligently, so here are the numbers h…

20NnataliehsuSO1BPRO10Answered10 replies

From the desk:Listing Content (Agent / Broker Marketing)

$1,450 marketing package on a $340k flip. Real, or theater?

Flip closes rehab in about ten days. 1960s three bed ranch, decent street, ARV I'm underwriting at $340k. My agent includes basic photos in her commission, twenty pictures from a…

carlos_nunezActiveAnswered11 replies

DiscussionListing Content (Agent / Broker Marketing)

Per listing or per month, which way do marketing providers actually price?

Trying to size up the service side before I put money anywhere near it. I've seen a provider quoting $150 per property marketing package and another quoting $1,200 a month for wha…

26Sstephen_ok9CO2CPRO4Answered4 replies

DiscussionRural Land Flipping

Contract for deed or deed now with a recorded lien, when you are the bank on rural acreage

I've been building out the terms side of a small rural land plan and I've stalled on the document choice, because the two camps I read both sound experienced and they say opposite…

tylerbrooks9PassivePRO426 replies

DiscussionCleaning / Trash-Out Services

First year of my cleanout business: chase trash-outs or chase turnover cleaning?

I've got a pickup, a trailer I can borrow, and two people who will work weekends with me. What I don't have is a decision about which kind of work to go after first, and every wee…

mikeoconnell7SP2APRO1714 replies

DiscussionMedical Office Buildings

Who should own the med gas, the dedicated exhaust and the sterilizer feed, landlord or tenant?

I've installed and repaired a fair amount of this equipment and I've never seen a lease handle it well, so I want to put the ownership question to people who underwrite these buil…

mitchell_ray4 Get yoursPRO120 replies

From the desk:Private REITs (Investor)

A 5% early repurchase deduction on cash that has a closing date attached

Sitting on 78k in cash. About 55k of it is the down payment plus reserves for a small rental I expect to close on in roughly nine months, assuming the market I'm shopping cooperat…

paulgrant17PassivePRO7Answered11 replies

DiscussionPrivate REITs (Investor)

Redemption gate math on a 5% quarterly cap

The offering doc for a public non-traded REIT I'm reading caps share repurchases at 5% of NAV per quarter, with the board able to suspend the program entirely. Say the fund holds…

karen_whitfieldPG4APRO7Answered4 replies

DiscussionLead Generation Platforms (Building)

My whole product is reselling enriched records, which the vendor terms forbid

I read the contract before I signed it, which apparently makes me unusual. Section 4 of a bulk property data agreement I was about to sign says the licensee may use the data inter…

wendy_park48CapitalPRO1512 replies

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