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From the desk:Opportunity Zone Investing

Two sites, one tract that probably drops off the 2027 map

Realized 310k of long term gain in October from selling a small retail strip. My 180 days runs out in April. I have two sites under LOI and I can only fund one without a partner.…

jessreyes12AU1APRO161 reply

DiscussionOpportunity Zone Investing

Is there a service business in the new fund reporting requirements?

Building a service business around real estate, and the expanded reporting on qualified opportunity funds under the permanence law looks like a real gap to me. The operators I tal…

mikeoconnell7SP2APRO17Answered2 replies

WinTimberland / Vineyards / Orchards

Bought 90 acres of cutover and replanted. Lost a whole planting season doing it.

This worked out, and it worked out slower than it should have. Cutover means the timber's already been harvested, so you're buying close to bare land. The previous owner clearcut…

angela_burkeServicePRO1210 replies

DiscussionReal Estate Crowdfunding (Investor)

If a deal says 10% target IRR, does that mean a 10% check every year?

The offering page says 10 to 12% target IRR and then further down there's a line about distributions beginning in year three, which I don't understand if I'm supposedly getting 10…

luis_carrera Get yoursAnswered1 reply

From the desk:Real Estate Crowdfunding (Investor)

Waterfall says pref accrues on unreturned capital, then the return of capital clause fires second

Third crowdfunded LP position and the first time I've read a waterfall that orders things this way. Language is roughly: distributable cash goes first to an 8% cumulative preferre…

samantha_ruizAU4APRO5Answered1 reply

LossJV Wholesaling

My contract expired and my JV partner signed the seller himself

Lead came from a lending contact of mine, a tired owner of a small 4 unit in a soft submarket. I brought it to a wholesaler I'd worked with once before on the dispo side. Contract…

12Ddmitri_v6CapitalPRO7Answered5 replies

DiscussionJV Wholesaling

Who actually cuts my half of the JV fee, title or my partner?

Still building my seller list, so this is theoretical, but it's bugging me. Say I lock up a contract and JV with a wholesaler who has the buyer. Assignment fee is $10,000, we agre…

devon_pierce Get yoursPRO14Answered2 replies

Story

I put a pref deal on my list without knowing it was a pref deal

Been building a list for about eight months. Mostly small multifamily, a couple of mixed use things I probably can't afford. One of them came to me through a guy who does financin…

devon_pierce Get yoursPRO148 replies

DiscussionShort-Term Rental Co-Hosting

My first two units start in April, and the 2am messages worry me

I've got two units lined up for spring, a downtown one-bedroom and a small house that sleeps six. Both owners want hands-off. Both are in a market where guests fly in late and che…

23Rryanmck27SC2C22 replies

DiscussionSelf-Storage (Capital Scale)

Where does the return actually come from in a storage portfolio?

I've been reading two fund decks side by side and they describe the same asset class in ways that barely overlap. One says the money comes from the rent. Facilities collect monthl…

chriswalton8CC1CPRO152 replies

DiscussionTax Lien / Tax Deed Investing

The notice statute says one thing and the county's practice says another

Reading a state's tax foreclosure chapter next to the county treasurer's own procedure sheet and they don't line up on who gets served. The statute lists record owner, mortgagees…

wendy_park48CapitalPRO151 reply

Story

Found out from a doc list that my cash-out LTV had dropped five points

Third house of the year, small three bed, bought at 96k, put 41k in it, rented at the number I underwrote. Appraisal came back where I wanted it. I was in the boring part of the f…

joe_delgado5AP4CPRO43 replies

LossCrowdfunding (Platform Investor)

Found out three of my six deals shared a sponsor, after two stopped paying

I spread 12k across six equity deals on one platform over about eight months, 2k each. Different states, different property types, two small multifamily, one self storage, one ind…

jessreyes12AU1APRO16Answered5 replies

LossHotels (Capital Deployment)

Refi at stabilization came in $1.8M short, so instead of cash out I wrote another check

First deal after a very long analysis stage, and the thing that broke was the one I'd modeled most confidently. 104-key extended stay, secondary market, bought at $9.5M with a $2.…

luis_carrera Get yours9 replies

DiscussionLand Banking (Buy and Hold)

Is $180 a year really the whole bill on five acres?

A listing came across my feed for 5 acres at $12,000, and the seller says the property tax is about $180 a year. My plan was to just own it and let it sit, which someone in anothe…

priya_n21PO1CAnswered5 replies

WinLand Banking (Buy and Hold)

A severed mineral half and a pipeline easement took 11 acres from $74,500 to $61k

First parcel, first anything. Asking was $74,500 for 11 acres about 40 minutes past the last subdivision on a state route, gently rolling, county road frontage on the north side.…

megan_doyle15 Get yoursAnswered6 replies

DiscussionSelf-Storage (Passive Hold)

Storage exposure without operating: REIT shares, a single-asset LP, or just buy a small facility and hire it out

I've been pulling apart the three ways to own storage without running it, and they turn out to be three different bets wearing the same name. Public REIT shares give me daily liqu…

chriswalton8CC1CPRO153 replies

WinCo-Living / Room Rentals

Rented the two spare rooms in my own house and it covered more than I expected

I own a three bedroom, live in it, and had two empty rooms doing nothing but holding boxes. Six weeks ago both are rented and I want to write down what happened while it's still f…

megan_doyle15 Get yours7 replies

DiscussionCold Calling / SMS Lead Generation

Per lead, per appointment, per caller hour. Which pricing model is the honest one?

I'm putting together the pricing for a small calling service and the competitor spread is wild. Per lead I see $25 to $60. Per appointment $80 to $150. Per caller hour $7 to $12,…

mikeoconnell7SP2APRO17Answered1 reply

From the desk:Cold Calling / SMS Lead Generation

SMS keeps beating mail on cost per contract. That looks too good.

Building a channel comparison for an acquisitions budget and the SMS column looks too good, which usually means I've left something out. Mail: 10,000 pieces at $0.62 all in, so $6…

dpatel_reCS4AAnswered2 replies

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