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From the desk:Private REITs (Investor)

Trading a 9% six unit for a NAV REIT and my Saturdays back

Numbers first. Six unit building, older brick, one market I know well. Gross scheduled rent 78k, actual collections last year 74.2k. Operating expenses ran 30.1k including taxes,…

9Rrenee_dubois Get yours10 replies

DiscussionPrivate REITs (Investor)

Does a non-traded REIT send a K-1 or a 1099? My brother-in-law says K-1

The subscription docs for a public non-traded REIT are sitting in my inbox and I'm stuck on the tax paperwork before I even fund it. My brother-in-law does private real estate dea…

priya_n21PO1C7 replies

WinReverse Wholesaling

Two buyers with the same box, and the second is why the fee held at 13,500

This is the first deal where the sequencing actually paid me instead of just making me feel organized. I'd spent about two months getting written criteria from small operators rat…

aaron_fitz10 Get yoursPRO159 replies

From the desk:Dispo / Marketplace Services

My cost per verified buyer is 62 dollars from a standing start

I'm three months into standing up a dispo service and the only asset that matters is the buyer list, so that's where the money has gone. Where I am now: Pulled cash-recorded deeds…

mikeoconnell7SP2APRO173 replies

DiscussionDispo / Marketplace Services

The dispo guys keep telling me they don't do land

I have two parcels under contract, 11 acres and 4 acres, both rural, and I'd rather assign them than close and hold. Three of the people who advertise dispo services said outright…

karen_whitfieldPG4APRO78 replies

DiscussionFix and Flip (Cosmetic)

Trusted my own comps, paid 8k over, appraiser disagreed

I ask the questions I'd have been embarrassed to ask out loud, so here's one with numbers. Underwriting a house where I pulled six comps in a half mile radius, all sold in the las…

jessreyes12AU1APRO16Answered4 replies

From the desk:Fix and Flip (Cosmetic)

The 70 percent rule keeps giving me a max purchase price that's below every listing I look at

I've been running the formula on everything in a 20 mile radius. ARV times 0.70, minus repairs, and that's the most I can pay. On a house listed at 189 where I think ARV is 250 an…

17Kkevin_lombardPG1BPRO170 replies

DiscussionReal Estate Attorney

FinCEN entity-purchase reporting: do we build it into our closing service or hand every file to buyer's counsel?

Our coordinator asked me who files the report on an all-cash LLC purchase of a single-family rental, and I gave her one answer, then called two attorneys and got two more. The res…

monica_tran3SF4CPRO117 replies

DiscussionGap Funding / Bridge Lending

What does it mean that my gap loan is "behind" the hard money loan?

A friend is buying a house to flip and his hard money lender is covering 75% of purchase plus rehab. He needs $40,000 more for the down payment and part of the rehab reserve, and…

32Kkevin_lombardPG1BPRO17Answered2 replies

From the desk:Gap Funding / Bridge Lending

The gap lender wants 15% of profit on top of 14% interest

Numbers first, then the part I can't settle. Purchase 285,000, off market 3/2 in a first ring suburb that turns over fast. Rehab 95,000 from my GC, and I'm confident on maybe 80 o…

jordan_ellis2ActivePRO9Answered18 replies

From the desk:Mobile Home Parks / Manufactured Housing

Nine of 42 lots are park-owned homes and the seller won't split the price

Under contract-ish on a 42-lot community in a secondary market, asking $1.15M. 33 homes are tenant-owned on lot rent of $325. Nine are park-owned and rent all-in at $725. Two vaca…

joe_delgado5AP4CPRO4Answered6 replies

DiscussionMobile Home Parks / Manufactured Housing

Broker says 32% expenses on a park with a private well and shared septic

Under contract-ish on a 42-lot park in a secondary market, asking $1.35M. Lot rent is $285, 38 occupied, 4 vacant lots with pads and hookups. Private well serving the whole park,…

joe_delgado5AP4CPRO4Answered1 reply

DiscussionMultifamily Development

My first rental hasn't leased and I'm reading about ground-up. Too early?

My first rental, a small duplex, has tenants moving in at the start of next month. I spent four months learning screening and lease language and I thought that would be the whole…

paulgrant17PassivePRO721 replies

From the desk:Tax Lien (Capital Scale)

Fund reports a 12.4% weighted bid rate and a 6.8% net to LP. Where did the other 5.6 go?

Looking at a diligence packet for a lien vehicle, around 60m deployed across four states. Their weighted average bid rate across the last full vintage is 12.4%. Net to LP on that…

tylerbrooks9PassivePRO4Answered11 replies

DiscussionTax Lien (Capital Scale)

The spreadsheet says 16%. My gut says 6%. Which one is lying?

Simple model, and I know it's too simple. 200 certificates, average face $2,200, statutory 16%, everything redeems inside 18 months. Spreadsheet says a hair under 16% because I di…

36Hhannah_west29 Get yoursAnswered6 replies

DiscussionBroker Owner

If the agents can all leave on 30 days notice, what is brokerage equity actually worth?

I've been reading through how private money looks at service businesses and I can't get the brokerage math to sit still. The asset is a set of independent contractor agreements th…

chriswalton8CC1CPRO159 replies

DiscussionMarketing / PPC Agency (Real Estate)

CPL, CPA and ROAS all in one sentence and I lost the thread

Got off a call with an agency that wants to run seller ads for me so I can stop paying finder fees on rehab deals. The guy said "we're at $45 CPL in your market, CPA on signed con…

omar_haddadActivePRO173 replies

From the desk:Marketing / PPC Agency (Real Estate)

AI creative came out close enough to my manual ads to be annoying

Building a buyer list and running my own seller acquisition ads, so I'm the client and the agency at once. Over the last 90 days I ran a split on creative production, because two…

devon_pierce Get yoursPRO147 replies

From the desk:Industrial / Warehouse (Passive Hold)

The rollover math on 3.2 years of term left won't sit still

Broker sent me a 1998 vintage distribution building in a secondary southern market. 62,000 sf, 24 foot clear, 8 dock doors, 110 foot truck court, 4.1 acres so coverage is about 35…

jordan_ellis2ActivePRO9Answered10 replies

DiscussionIndustrial / Warehouse (Passive Hold)

Marking rent to market on a 2005 box while vacancy is still climbing

Seller of a 78,000 sf single tenant building is underwriting a full roll to market and I can't make the math sit still. In-place is $4.85 psf NNN with three years left, 26 foot cl…

diane_kowalskiPassivePRO14Answered3 replies

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