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From the desk:Real Estate Photography / Video / 3D

Paying a local photographer $350 to scan a building I haven't flown out to see yet

Under contract discussions on a 6-unit about 700 miles from me, 1968 brick, all 2 bed units, asking $640k, seller says gross rents are $6,150 a month. The listing has eleven photo…

ehernandez74PO2BPRO7Answered8 replies

DiscussionBuyer's Agent (Investor-Focused)

Agent wants 2.5% signed before he'll send me addresses on his off-market rentals

I'm after one or two rentals I don't have to touch, so I've been talking to an agent who says he gets turnkey properties with tenants already in place before they hit the market.…

priya_n21PO1C2 replies

WinBuyer's Agent (Investor-Focused)

First rental closed. The appraisal nearly ate the whole thing.

Zero deals before this one, so treat everything below as a beginner reporting back. I signed a written buyer agreement with an agent who works mostly with small landlords. Her fee…

bmoreno23AB1B19 replies

DiscussionRV Parks / Campgrounds

First 25k of improvements at a 20 site park, and only one thing gets done

Family friend inherited a 20 site campground and I've been helping read the numbers, which is how I ended up with an opinion I can't defend. There's about 25k available for improv…

22Bbrandonlee36Passive6 replies

DiscussionFund Management

A new PPM every deal is getting expensive, so what would a $25M fund cost

I've been doing single-asset syndications, four investors to twelve investors, new PPM every time, and the legal bill each round is starting to feel stupid. Someone at a meetup to…

carlos_nunezActiveAnswered6 replies

From the desk:Fund Management

Somebody offered me a fund slot instead of the 40 buildings on my list

I've been building a list of small multifamily for about eight months. 40 buildings, all 4 to 12 units, all in one metro, and I have offers written on none of them because everyth…

devon_pierce Get yoursPRO14Answered3 replies

DiscussionLand Wholesaling

No road touches this parcel but the seller keeps saying there's a dirt track

I've got a 5 acre parcel I'm talking to an out of state owner about. She inherited it, has never seen it, wants $9k and I think a builder around there would look at $25k-ish for s…

carlos_nunezActiveAnswered1 reply

WinLand Wholesaling

First assignment closed at 9k, nearly killed by a mobile home nobody mentioned

I've been the guy who reads instead of offers for about a year, so I'm putting the whole thing down while I still remember the ugly parts. Parcel was 5.1 acres at the edge of a gr…

luis_carrera Get yoursAnswered16 replies

DiscussionOffice Buildings (Passive Hold)

Does the maturity wall actually hand you a better basis, or does it just hand you someone else's problem

Something like $1.5 trillion of commercial mortgage debt comes due through the end of 2026 and a heavy share of it sits on office. Office delinquency on securitized loans hit an a…

angela_burkeServicePRO1210 replies

DiscussionCo-Living / Room Rentals

The exit is still the part I can't underwrite after nine years of room rents

Five bedroom, two bath, about 1,900 square feet, bought in a college-adjacent submarket and run room by room since. Rooms are 690 to 780, gross sits around 3,650 a month. A whole-…

karen_whitfieldPG4APRO720 replies

DiscussionLand Development / Subdivisions

Finished lot revenue at today's builder pricing, or haircut it

Everything in a land deal hangs off one number, what the finished lots sell for. And that number lands two to four years after you sign, which is the part I can't get comfortable…

luis_carrera Get yours8 replies

LossHotels (Capital Deployment)

The dilution on a second capital call cost me more than the operating miss

Closing this one out after four years so I might as well write down what it actually cost. I came in as an LP for $200k out of a $6.4M LP raise, so 3.1%, on the conversion of an o…

28Bbrandonlee36PassiveAnswered11 replies

DiscussionDual Agent

Confused about the difference between dual agency and transaction broker

Slow mover here, I read forms before I sign them and I've now read two that seem to describe the same thing in different words. One said dual agency. One said the agent would act…

ehernandez74PO2BPRO7Answered1 reply

From the desk:Dual Agent

Found out at the table that both agents work in the same office

Closed acquisition on a 1950s ranch six weeks ago, all in around 212k with the buy plus about 41k of scope. Comps in that pocket support 305 to 318 depending on how the kitchen la…

joe_delgado5AP4CPRO4Answered9 replies

From the desk:CRM Setup / Systems Consulting

300 leads a month. A $6,500 build or a $1,600 VA, and neither feels right.

Direct mail, about 4,000 pieces a month, call it 300 inbound leads a month if you count everything including the angry ones. Response rate around 1.2% on new lists, better on repe…

gregpowell66AG4BPRO12Answered3 replies

DiscussionCRM Setup / Systems Consulting

AI lead scoring on 300 records is a demo, not a system

Every platform pitch I sit through now leads with AI. Intelligent follow-up, predictive lead scoring, an assistant that qualifies inbound. I want to sell this because clients ask…

30NnataliehsuSO1BPRO10Answered2 replies

DiscussionLive-In Flip

Permits pulled as owner-occupant or hire a licensed GC to pull them

I'm on a live-in flip where the scope has grown from a kitchen and two baths into moving a load-bearing wall and redoing the whole panel. Original plan was to pull everything as o…

omar_haddadActivePRO173 replies

WinLease Options (Rent-to-Own)

Held an option on 34 acres for 14 months, assigned it for $17,500, never owned the dirt

Land version, since most of the room is doing houses. 34 acres, mostly cleared pasture, 700 feet of county road frontage, an hour out from a growing small city. Seller was an out…

diane_kowalskiPassivePRO140 replies

Story

Of the eleven people at the owner briefing, nine were already taking vouchers

I've been circling my first purchase for a year and a half and I finally did something other than read. The housing authority in the county I'm shopping runs a briefing for owners…

28Ttashaford30PB2APRO44 replies

DiscussionBuyer's Agent (Investor-Focused)

Flat $5,500 a closing plus a $12k retainer, against 12 acquisitions. The fee isn't what worries me

I'm building out a pipeline of small multifamily this year, target 12 closings, average price around $260k. At 2.5% buyer-side that's roughly $78k in fees. The agent I want to use…

marcus_hale41CG4AAnswered1 reply

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