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DiscussionRural Land Flipping

How do I even value 20 acres in a county where the state doesn't publish sale prices

I'm looking at a rural county and pulled the assessor site expecting to see what parcels sold for. There's acreage, an assessed value, an owner name, and no sale price anywhere. S…

diane_kowalskiPassivePRO14Answered7 replies

DiscussionPublic REITs (Capital Deployment)

Phasing into the trough over eight quarters vs just funding the sleeve now

I have a target allocation of about 12% to listed real estate and roughly $400k to move into it. My default is a slow build, equal tranches over eight quarters, because I do not t…

ehernandez74PO2BPRO70 replies

From the desk:Public REITs (Capital Deployment)

Three weeks of comparing nine REIT tickers and I still own nothing

I have 25k earmarked for a first real estate position and a spreadsheet with nine tickers across industrial, data centers, residential and net lease. Columns for yield, price to F…

luis_carrera Get yours1 reply

Story

The note seller called the borrower on speaker while I sat there saying nothing

I've held land for eleven years and I've never had a tenant, so paper was always going to be the next thing I tried. Same shape as what I already do. Wait a long time, collect som…

karen_whitfieldPG4APRO716 replies

DiscussionJV Capital Provider

Asset management fee to the operator during the hold, or make him wait for the promote

First time I've been asked to write JV equity and the argument is stuck on one line. The operator wants a 1.5% asset management fee on invested equity, paid monthly out of operati…

angela_burkeServicePRO1211 replies

DiscussionData Centers (Passive Hold)

Underwriting the residual on a 6 kW per rack building in a 60 kW world

Chasing a question I can't settle. A facility built around 2014 for something like 6 to 8 kW per rack, air cooled, decent connectivity, on a feed with modest headroom. Fully lease…

diane_kowalskiPassivePRO142 replies

LossCrowdfunding (Platform Investor)

My yield column said 10.4 percent for three years. XIRR on the whole sleeve said 3.9.

19 positions, four platforms, first commitment in 2019, last in 2024. Average check just under 5k, about 96k deployed total. Ten equity, nine debt. I tracked it the way I track ev…

marcus_hale41CG4AAnswered17 replies

DiscussionSelf-Storage (Capital Scale)

Is 8% of storage revenue from tenant protection plans normal?

Reading a fund deck for a storage portfolio and there's a revenue line called tenant protection plan income at just under 8 percent of total revenue. There's a footnote saying it'…

wendy_park48CapitalPRO151 reply

From the desk:Self-Storage (Capital Scale)

A storage developer wants to option my 6 acres. What am I looking at?

I own six acres on a state highway just outside a town of about 19,000. Bought it three years ago to hold. Zoned commercial, water and power at the road, sewer is not, there's a s…

diane_kowalskiPassivePRO14Answered3 replies

From the desk:Syndications: LP (Capital Provider)

Sizing a first LP position when I only have four sponsors I trust

I've got $400k earmarked for LP equity over the next 24 months and I'm stuck on position size. Four sponsors have cleared my diligence so far. Two multifamily value-add in the sou…

chriswalton8CC1CPRO15Answered6 replies

DiscussionSyndications: LP (Capital Provider)

PPM says 8% pref, non-compounding, non-cumulative. Which of those three words is the one that hurts?

I've been reading a subscription package for a multifamily deal and the distribution section says the LPs get an 8 percent preferred return, non-compounding and non-cumulative, th…

raj_mehta14CapitalPRO137 replies

DiscussionAppraisal

Waiver offered on a purchase loan. Do you pay for an appraisal you're not required to get?

Second offer accepted this month and the loan officer came back with a waiver from the automated underwriting run, so no appraisal ordered, no fee, and the file moves faster. She…

jordan_ellis2ActivePRO927 replies

DiscussionMid-Term Rentals (30-90 Days)

Rural county, no hospital within 40 miles. Is there any mid-term demand at all?

Low price points are my whole thing, so mid-term looks attractive because a $90,000 house with a $1,100 furnished rent is a much better ratio than anything in the city. Problem is…

33Llaurenkim53Passive2 replies

From the desk:Mid-Term Rentals (30-90 Days)

The city says under 30 consecutive days. Does a 30 day minimum clear it?

I have a 2 bed 1 bath, 900 square feet, four blocks off a light rail line, under contract at 178k with 15% down. Furnishing budget 9,000. Unfurnished comps 1,400. Furnished 30 plu…

bmoreno23AB1BAnswered5 replies

WinMultifamily Property Management

Found a 15% parts markup buried in a management agreement, capped it at 5

I'm an LP on a 96-unit apartment deal, small check, and I read the property management agreement before I funded. It's not the operating agreement, it's the separate contract betw…

wendy_park48CapitalPRO153 replies

DiscussionBRRRR Method (Active Operator)

Is BRRRR actually a no-money-down strategy? I've read both

I'd rather do the boring, dependable kind of investing, so I'm reading slowly. Two things I've read about BRRRR don't fit together. One post said the whole point is you get all yo…

tylerbrooks9PassivePRO4Answered4 replies

From the desk:BRRRR Method (Active Operator)

Rehab done, tenant in, appraisal 21k under my comps

Small three bed, bought at 118k, put 34k in, all in about 158k with holding. I underwrote the after-repair value at 205k off three sales within half a mile that all closed in the…

joe_delgado5AP4CPRO4Answered1 reply

DiscussionReverse Wholesaling

Buyers list first or seller list first? Six months in and still unsure.

Everything I read about wholesaling says build a buyers list, dozens of names, email blasts. Everything I read about reverse wholesaling says get one buyer and go find what they w…

jordan_ellis2ActivePRO9Answered2 replies

From the desk:Reverse Wholesaling

Can this be done nights and weekends or am I kidding myself

I want income that doesn't turn into a second job, and everything I've read about wholesaling says it's a full time grind of cold calls. Then I read the buyer-first version and it…

priya_n21PO1C1 reply

DiscussionReal Estate Photography / Video / 3D

A real camera to shoot listings, or is a phone and a tripod enough

I'm building a small service business around real estate and photography is the piece I keep circling. A property manager I talk to said her last vendor showed up with an iPhone o…

mikeoconnell7SP2APRO17Answered3 replies

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