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DiscussionListing Content / Social Media

Agent wants my listing video price cut from $350 to $200 because she's writing her own descriptions now

I shoot walkthrough video for three agents. $350 a listing, tripod and gimbal, one vertical cut plus a 90 second horizontal edit. One of them asked me to come down to $200 because…

mitchell_ray4 Get yoursPRO12Answered4 replies

LossBroker Owner

The builder went in-house at month nine. That cost me $141k.

Construction is what I know, so when I got my broker license the plan was obvious to me. A brokerage specializing in new construction resale and inventory listings, staffed by age…

gregpowell66AG4BPRO126 replies

DiscussionSmall Multifamily (2-4 Units)

Triplex with one boiler and I'm told I can't bill the tenants for heat

Been in construction long enough to know what a single boiler feeding three units costs to replace, so that part doesn't scare me. What I don't understand is the operating side. S…

gregpowell66AG4BPRO121 reply

DiscussionSmall Multifamily (2-4 Units)

Fourplex on residential terms or a six unit on commercial, roughly the same cash in

Two things I've been looking at side by side, both about 40 minutes from me. One is a fourplex around 540k, four two beds, in place rents 1,250 each. It would be a residential loa…

megan_doyle15 Get yours2 replies

Story

A servicer letter about insurance gave me four days to figure out my answer

Rural county, house I picked up subject-to eighteen months ago. Purchase was 71k, seller's balance was 58k at 3.5, I paid her 13k for equity in two pieces, half at closing and hal…

29Llaurenkim53Passive9 replies

DiscussionLarge Multifamily (Institutional)

I priced the gap to replacement cost as protection, and I'm no longer sure that's honest

I came from the build side, so replacement cost is the number I trust most and I think that's exactly the bias I need beaten out of me. Deal shape: 312 units, 2004 vintage, garden…

gregpowell66AG4BPRO1213 replies

DiscussionSection 8 / Government-Assisted Housing

HAP contract, tenancy addendum, voucher. Which document is which?

I've been reading the paperwork side of this before I look at any property, and I have three documents in front of me that seem to overlap. There's the voucher itself, there's a H…

12Ddmitri_v6CapitalPRO7Answered3 replies

LossSection 8 / Government-Assisted Housing

Quoted a flat placement fee the authority's calendar then took entirely

I've been building toward the leasing side while I finish licensing, and a small landlord with eight doors asked me to fill three vacant units with voucher holders. He'd been doin…

12Rryanmck27SC2CAnswered6 replies

DiscussionDispo / Marketplace Services

12,000 names on one side, 40 buyers who have actually closed on the other

Two people have offered to handle dispo for me when I get something under contract, and I have no way to tell which offer is worth more. The first sends a monthly email to a list…

bmoreno23AB1B1 reply

DiscussionLarge Multifamily / Apartments (20+ Units)

Sponsor wants to buy the rate down instead of taking a lower purchase price

Reading a 240 unit deck where the sponsor is paying about 2.1 points into a rate buydown and an interest rate cap that runs three years. The alternative they say they negotiated w…

gregpowell66AG4BPRO122 replies

WinLand Wholesaling

A 1961 mineral severance nearly ate a 24k assignment on 31 acres

I don't want to be a wholesaler. I want income that doesn't turn into a second job, and I needed cash to seed the boring part of that plan. So I ran one land campaign, got one dea…

priya_n21PO1C26 replies

DiscussionLand Subdivide and Sell

What does a release price per lot mean in a land loan?

A friend forwarded me a land loan term sheet on a 12 lot split so I could see what these look like. There's a partial release clause that says lots are released at 115% of the pro…

sonia_alvarez Get yoursPRO6Answered1 reply

From the desk:Land Subdivide and Sell

Record the plat before I have a buyer, or wait?

I coordinate survey and plat work for people doing small splits, and I decided I should actually do one myself before I charge anyone for advice about it. 22 acres at $6,500, so $…

mikeoconnell7SP2APRO17Answered4 replies

DiscussionSelf-Directed IRA (Capital Deployment)

Does the tax-free wrapper only make sense if you never touch leverage?

Trying to settle an argument I'm having with myself before I move anything. The clean version of self-directed IRA deployment is passive and unleveraged. Interest from private len…

chriswalton8CC1CPRO155 replies

LossReal Estate Photography / Video / 3D

Shot my own rental photos at 4pm and the unit sat 11 extra days

Small portfolio, and I've always taken my own listing photos to save money. Two bedroom unit, $1,450 a month, and I shot it on my phone at 4pm on a Thursday because that's when th…

14Bbrandonlee36Passive4 replies

DiscussionCo-Living / Room Rentals

What counts as a family under a one-family-per-dwelling rule?

The ordinance for the town I'm looking in says a single-family dwelling is for occupancy by one family. Then the definitions section says family means one or more persons related…

jordan_ellis2ActivePRO9Answered6 replies

From the desk:Co-Living / Room Rentals

Insurance says rooming house. The loan documents say single family.

I'm not under contract yet, I'm doing the paperwork side first because that's how I do things. Reading two documents that don't agree. The property is a 4 bed 2 bath, and my plan…

28Kkevin_lombardPG1BPRO17Answered2 replies

DiscussionSubject-To Financing

Is sub-to a reasonable first deal, or something you earn your way into?

A newer investor asked me to look at a sub-to he was offered, and I couldn't decide what to tell him, so I'll put it to the room. The case for doing it early: the deal doesn't nee…

25Bbrandonlee36Passive10 replies

DiscussionInvestor Relations (For Syndicators)

Sequencing a $1.1M capital call to 42 LPs

$1.1M call on a 2021 bridge deal. Rate cap expires in five months and the money is the extension quote plus a reserve top-up the lender wants sized. 42 LPs. The operating agreemen…

carlos_nunezActiveAnswered2 replies

From the desk:Investor Relations (For Syndicators)

A third IR client is asking and my quarter-end weeks already run 55 hours

I've been logging my time to the quarter hour since I picked up the second client, and the log is telling me something I don't want to hear. Client A: 90 LPs across two apartment…

mikeoconnell7SP2APRO17Answered11 replies

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