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LossPreferred Equity

The pref redemption date sat inside my senior lockout, which cost me the promote

Writing this from the sponsor side. Mid-size industrial infill, five buildings, $14.2m purchase. Senior loan was $9.1m fixed for five years with defeasance and a lockout through y…

samantha_ruizAU4APRO52 replies

LossStudent Housing

Priced a 96 bed management contract with a make-ready cap I had no business agreeing to

Two years ago an owner put a 24 unit, 96 bed off-campus portfolio out to bid and I won it at 4% of collected rent. Four bedroom units, one lease per bed, 12 month terms, parental…

tonyv88SO4CPRO6Answered26 replies

DiscussionStudent Housing

What changes on insurance and licensing when four people hold separate leases?

Working through what actually changes on the compliance side when four unrelated people each hold their own lease in one house. My insurance agent used the phrase rooming house an…

paulgrant17PassivePRO7Answered3 replies

DiscussionReal Estate Agent (Buyer's Agent)

Vacant land and nobody wants to show it to me

I'm looking at parcels, mostly 5 to 40 acres, price points from about $40k to $120k. Two agents have now more or less brushed me off, and a third said outright that she'd need a f…

diane_kowalskiPassivePRO14Answered8 replies

DiscussionSeller Financing (As Seller)

Buyer wants me to carry the note on my rural lot. What paperwork does that actually take?

I own 11 acres outright, no mortgage on it. A buyer offered close to asking but said he can't get a bank to touch raw land, and asked if I'd take payments over 8 years instead. I…

21Llaurenkim53PassiveAnswered2 replies

From the desk:Seller Financing (As Seller)

The down payment keeps shrinking on a duplex I'd carry

Seller I do listing work for owns a side by side duplex free and clear, both units rented, asking 340k. Two conventional offers fell apart on appraisal and financing, and the thir…

derekj19SB1BAnswered6 replies

DiscussionVirtual Wholesaling

Dialers or ads: which one carries the load when you can't drive the neighborhood?

I'm rebuilding my outreach for a market I've never been to, and the two options don't sit next to each other well. Outbound calling and texting means I control the volume. I pull…

jessreyes12AU1APRO162 replies

DiscussionCRM Setup / Systems Consulting

Paying $400 a month for a CRM I use as a contact list

I have one of the big real estate CRMs, the plan is around $400 a month, and I went and looked at what I actually use in it. Contacts, notes, and a search box. That's it. No seque…

29Hhannah_west29 Get yours1 reply

From the desk:CRM Setup / Systems Consulting

An $8,000 AI texting setup against 14,200 dead leads and one VA

Four years of mail and PPC leads sitting in a database. 14,200 records, of which maybe 9,000 have a phone number I'd call good. All of them said no or went dark at some point. Cur…

joe_delgado5AP4CPRO48 replies

DiscussionDrone Videography

Sponsor's budget says aerial package $4,500 on a 60-lot subdivision

Looking at a subdivision deal as a limited partner and the marketing budget has one line reading "aerial package, $4,500." Everything else in that budget is itemized down to sign…

11Sstephen_ok9CO2CPRO4Answered3 replies

LossDrone Videography

Spent $600 on aerial for a land parcel that told buyers nothing

I mostly look at deals from the capital side and I don't usually pay for marketing, so this was new to me and I got it wrong in an ordinary way. A partner and I had a 19 acre parc…

39Sstephen_ok9CO2CPRO4Answered6 replies

DiscussionSelf-Storage (Capital Scale)

Storage funds keep selling me the word "defensive." Is that worth paying up for?

I've now sat through three storage pitches this year and every one of them used the same word. Defensive. Demand comes from life events, people move, people divorce, people die, p…

priya_n21PO1C22 replies

WinAccessory Dwelling Units (ADUs)

A recorded owner-occupancy covenant is why I got the price down

Bought a house with an existing permitted detached ADU, 560 sf, already leased at $1,725. Asking was $612k, closed at $571k, and the discount came out of a document the listing di…

23Ddmitri_v6CapitalPRO7Answered2 replies

DiscussionAccessory Dwelling Units (ADUs)

I bring the crew, the homeowner brings the lot. Who holds the lease?

The model I keep circling: a homeowner has the lot and the zoning but no capital and no appetite for permitting. I have the crew and can carry the build. I put up the ADU, I hold…

mikeoconnell7SP2APRO17Answered2 replies

DiscussionLuxury Specialist Real Estate Agent

Which fee structure keeps an agent grinding for the last $200k?

A few years out from selling a house that will list somewhere north of $3M, and the fee structure is the question I keep circling back to. On a straight percentage at 2.5%, the li…

karen_whitfieldPG4APRO75 replies

LossLand Banking (Buy and Hold)

Six years on 3.5 acres beside an interchange nobody funded, sold at a loss

I do small multifamily. In 2019 I bought 3.5 acres of scrub about a mile from where a new highway interchange was going to go, $28,000, cash, because a broker showed me the county…

5Rrenee_dubois Get yoursAnswered3 replies

DiscussionLand Subdivide and Sell

Is there a floor on this? Splitting 10 acres into two 5s doesn't seem worth the paperwork

Been running small numbers because that's the size I can actually fund. Ten acres, buy around $38k, split into two fives, comps on 5 acre pieces in that township are maybe $28k. S…

joe_delgado5AP4CPRO44 replies

WinLand Subdivide and Sell

A single perc test decided whether 11 acres became three lots

I've been circling this business for a while without knowing which side of it I belonged on, and the first thing I actually finished was small enough that I could hold all of it i…

35NnataliehsuSO1BPRO10Answered30 replies

From the desk:Commercial Development

A site scout left a card about our 46 acres. He said power adjacency.

We've held 46 acres for nine years, row crop lease, taxes paid, no plans. It sits about a mile from a transmission line and there's a substation on the far side of the county road…

diane_kowalskiPassivePRO14Answered4 replies

DiscussionCommercial Development

Is $2,000 anywhere near right for a Phase I?

Lender told me they can't issue a term sheet on a small retail box we're looking at until there's a Phase I in the file. Someone in another forum said those are about $2,000. The…

ehernandez74PO2BPRO71 reply

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