every post in the forum, newest first
I've been reading hotel listings because a broker sent me a 42-room limited service property near a highway interchange. The flyer leads with "RevPAR $58" and then in smaller prin…
Here is a scenario worth working through for anyone who calls themselves a passive hotel buyer. Take a 62 key exterior corridor extended stay in a secondary market, one interstate…
Here is a dashboard worth reading together, because the confusion behind it is common. Say a cabin shows an average daily rate of $210, occupancy 43%, and RevPAR $89. The owner wa…
Two comparable short term rental opportunities, same lake draw, different regulatory environments, worth weighing side by side. Option one: a small resort city that capped nightly…
Viewed from the capital side, a voucher is an income stream rather than something to manage, and the rent split is the part that tends to trip people up. The usual description: th…
A typical first inspection on a small unit comes back with a handful of items: a missing GFCI in the kitchen, a loose handrail, a torn window screen, a cracked outlet cover, a wea…
I have a subscription agreement on my desk for an LP position in a single-asset deal and I keep circling the same page. Writing this out partly for myself, and partly because I wa…
Here is a deck worth walking through as a room, because it lands in front of first time readers all the time and the language in it is doing a lot of work. Say a regional apartmen…
Here are numbers on a build worth picking apart, because the break even math people quote for these does not seem to work. Say the lot is already owned as a primary residence, so…
First real project and I'm probably out of my depth, which is why I'm posting the actual contract terms. Detached 800 sq ft, two bedroom, site built not prefab. $212,000 fixed pri…
Consider a $35,000 senior secured position on a 96 unit value add multifamily deal in a mid sized midwest market, raised through a portal. Structure: 11% current pay, monthly, 24…
Consider a draw administration service built for small developers, the 10 to 40 unit range, people running one or two projects without an in house construction accountant. The wor…
Take a land holder who picked up a couple of parcels years ago because the zoning looked like it would move eventually, and it did. One parcel now sits in a district that allows a…
Consider a small pool of seasoned second liens. Twenty two loans, unpaid balances from 18k to 96k, weighted average coupon 9.4, seasoning of 14 to 31 months, seller asking 88 of U…
House is under contract at $332,000, buyer's lender ordered the appraisal, it came back $314,000. Two of the three comps the appraiser used are older houses with original kitchens…
Worth studying as a cautionary case, because the mistake is common among first-time private lenders. Say someone known casually, with two completed flips and a reasonable reputati…
Take a rehab request that lands on a lender's desk looking like this. Purchase 240k, rehab budget 85k, all-in cost 325k. The borrower's ARV is 430k off three comps, two of which s…
First land purchase, so please poke holes. 60 acres, mixed pine and hardwood, asking 145,000, so about 2,400 an acre. Seller is an estate and there's no rush on their side. Here's…
Take an offering for a mature almond block, roughly 320 planted acres, trees around year 11 of a stated 22 to 25 year productive life. The seller pro forma runs on full surface al…
Take a service business whose technicians are in neighborhoods all day for calls. It looks obviously wasteful that they drive past twenty rough looking houses a day and nobody wri…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
