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From the desk:Retail Centers / Strip Malls

Landlord keeps roof and structure, and the roof is 18 years old

Under contract review on a freestanding 8,200 sf retail box in a midwest town of about 22,000, auto parts type user, national chain on the sign and the corporate entity on the lea…

mitchell_ray4 Get yoursPRO12Answered3 replies

From the desk:Raising Capital / Investor Relations

A sponsor offered 1% for my investor list of 40 names

Been building a small portfolio for six years, 31 units, and along the way I've collected people who ask me every year whether I have anything they can put money into. I've never…

21Bbrandonlee36Passive6 replies

DiscussionRaising Capital / Investor Relations

What do people actually pay for an investor portal at 18 LPs?

I've got 18 LPs across two deals and I'm running the whole thing on a spreadsheet plus mail merge for distribution notices. It works until it doesn't. Last cycle I sent one invest…

17Hhannah_west29 Get yours3 replies

DiscussionInvestor-Friendly Real Estate Agent

agent asked me to send him my buy box and I had to look up what that meant

I said yes on the call like I knew, then googled it after. I think it just means what kind of property I want? But every example I find online is a spreadsheet with a dozen rows a…

jessreyes12AU1APRO16Answered1 reply

WinInvestor-Friendly Real Estate Agent

Traded scope walkthroughs for first call, which turned into a 4 unit

Framing background, so what I have to offer an agent isn't capital, it's the ability to stand in a basement and tell her within ten percent what the repairs cost. Started doing th…

gregpowell66AG4BPRO12Answered2 replies

Story

Went to touch a faucet at a luxury open house, left holding a folder

I've had six months of research and no deals, so to stay busy I've been going to open houses well above what I could ever buy, because I wanted to see what a finished luxury flip…

jordan_ellis2ActivePRO90 replies

LossSubject-To Financing

$2,400 and four months on a sub-to that died at the insurance step

This was my first attempt at anything creative and I want to write down where it fell apart while I still remember the order. Seller was an older man, loan at 3.25%, balance about…

30Kkevin_lombardPG1BPRO17Answered3 replies

DiscussionSubject-To Financing

Seller wants a written promise I refinance within 24 months

FHA loan, $265k balance at 3.25%, payment $1,870 with taxes and insurance. Seller is relocating and her loan officer is counting that full payment against her debt-to-income, so s…

megan_doyle15 Get yoursAnswered8 replies

DiscussionSeller Financing (As Seller)

Is seller financing really taking off, or is that just the phrase of the month?

I've been reading in this room and in the capital section, and the phrase that keeps coming up is that seller financing is taking off because rates are high. Makes sense on paper.…

megan_doyle15 Get yours6 replies

From the desk:Seller Financing (As Seller)

The buyer on my carry wants to do the garage himself

Closed last week on a carry I've been building for two months and I already have a problem I didn't write into the note. The deal: 3/2, 1,450 square feet, full gut, sold at 312k.…

omar_haddadActivePRO170 replies

DiscussionMedical Office Buildings

Broker keeps saying my clinic tenant is on a triple net lease but the seller pays the roof

Looking at a small 6,000 sf urgent care building, asking $2.4m. The broker's flyer says NNN lease, and I thought that meant the tenant pays everything and I basically just collect…

carlos_nunezActiveAnswered1 reply

LossMedical Office Buildings

I put $60k into a medical office LP and read the wrong document

Writing this for people at the stage I was at, so I'll define things as I go. LP means limited partner. You give a sponsor money, they buy and run the building, you get a share of…

36Ddmitri_v6CapitalPRO7Answered6 replies

LossSenior Housing (Independent Living)

The demographics looked unarguable and I still lost money

I wanted the version of this that just works. Aging population, supply growth at a two-decade low, occupancy heading toward records. That's about as clean a story as I've found in…

tylerbrooks9PassivePRO41 reply

DiscussionBookkeeping (Real Estate)

Who chases the receipts, me or the person I'm paying to keep the books

I've got two small rentals and I still buy most of my materials with a card in my truck. Got two quotes for monthly bookkeeping last week and they draw the line in completely diff…

mitchell_ray4 Get yoursPRO126 replies

From the desk:Dual Agent

The dual agency chapter of my pre-license material makes no sense

I'm three chapters into the pre-license material and the dual agency section reads like it was written by two people arguing. One page says the agent owes undivided loyalty to the…

20NnataliehsuSO1BPRO10Answered11 replies

DiscussionDual Agent

Does going dual agent actually save anybody money or is that a myth

Trying to work out which side of this business fits me and I keep hitting the commission math. The pitch I hear from sellers is that if the listing agent finds the buyer, everyone…

aaron_fitz10 Get yoursPRO15Answered4 replies

Story

The binder the old landlord kept had a tab for every inspection since 2011

I'm building out a service business around unit turns and small repairs, and part of that has been sitting down with landlords and asking what they actually want to pay someone el…

mikeoconnell7SP2APRO170 replies

From the desk:Wholesaling (As Service)

Sourcing agreement has a fee at close and an assignment clause in the same document

I'm not buying my first rental through this, I'm reading their paperwork because a friend asked me to and now I can't stop. The service pitches out-of-area buyers. Terms: $2,500 o…

paulgrant17PassivePRO7Answered5 replies

DiscussionWholesaling (As Service)

A landlord asked me to find him houses for a flat $7k instead of me flipping the contract

I do HVAC work and one of my regular customers owns maybe fifteen rentals. He said he'd pay me $7,000 a house if I brought him ones he ended up buying, since I'm in basements all…

mitchell_ray4 Get yoursPRO12Answered7 replies

DiscussionSyndications: LP (Capital Provider)

Sponsor paused distributions and wrote me a nine-page letter. Does the letter count for anything

One of my positions suspended the pref in Q2, second year of a five year plan. Occupancy is fine, the problem is the debt, floating rate with a cap that expires next year, and the…

tylerbrooks9PassivePRO47 replies

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