Loading the forum

Rena is not an investment adviser. Nothing in this forum is investment, legal, or tax advice.

Terms Privacy Forum rules

FORUMThe Rena Forum

All 132 real estate strategies.Every room answered.

Post something

Search the forum

Start with a RE category

ActiveYou do the work PassiveYou own it, someone else runs it ServiceYou get paid to help CapitalYou put up the money All

Next, pick a strategy

Then pick the type of post

Discussionsomeone asked, the room worked it out Happening Nowlive deals, numbers on the table Wins & lossesit finished, here is how it went Pollsone click, then see the split Storiesthe tenant, the seller, the sideways closing All

Newest posts

the latest across all 132 rooms, newest first

Newer

PollParking Lots / Garages

Net lease the lot to an operator, or keep the gross and pay a manager

An owner I've been sitting with has two proposals on the same 210-space surface lot in a courthouse and office district, and they are not remotely the same deal. Proposal one is a…

20NnataliehsuSO1BPRO106 replies

PollLive-In Flip

Buy the worst house on a good street, or a mid house on a great street?

I've been looking at live-in flip candidates for about two months and the two shortlists I keep making are completely different houses. One is the tired 1960s ranch on a street wh…

bmoreno23AB1B0 replies

LossBoarding Houses

I paid the rooming house license fee before anyone checked the parcel's zoning district

The seller's agent said the house had "always been a rooming house." It had. Six rooms, all occupied, papers going back to the eighties. What nobody said, and what I never asked i…

14Rryanmck27SC2C6 replies

DiscussionReal Estate Syndications (Limited Partner)

Is the 8% preferred return something I actually get paid?

The deck for a 180 unit deal I'm looking at says "8% preferred return, then 70/30 split." A friend who owns bonds told me the pref works like a coupon, so I'd get 8 percent a year…

ehernandez74PO2BPRO78 replies

Happening NowReal Estate Syndications (Limited Partner)

Bridge debt on 184 units, with a rate cap that dies in month 24

PPM landed Friday and I have until the 19th to fund or pass. 184 units, 1986 vintage, secondary southeast market, $23.4m purchase plus $2.1m capex and closing, $6.9m equity raise,…

32Bbrandonlee36Passive6 replies

WinLuxury Specialist Real Estate Agent

An unrecorded easement on the driveway nearly killed my first $3.72M listing

Background so the numbers make sense. I've done eleven deals, average price around $410k, and I've been stuck at that ceiling for two years. This one came from a seller whose sist…

samantha_ruizAU4APRO515 replies

DiscussionMixed-Use Properties

Splitting the retail and the apartments into separate condo units to fix the financing

Working through a structure I've read about in a couple of places and don't fully follow. A building with 4,000 sf of ground-floor retail and twelve apartments above gets condomin…

raj_mehta14CapitalPRO13Answered3 replies

Happening NowMixed-Use Properties

Convert the dead hardware store bay, or wait for a tenant?

County seat town, population about 6,800, one stoplight downtown that still has traffic. Two-story brick corner building, ground floor 3,600 sf split into a 1,200 sf insurance age…

30Llaurenkim53PassiveAnswered19 replies

PollGap Funding / Bridge Lending

Your own capital into gap pieces, or place other people's and keep the fee

Bridge and construction has been the fastest growing corner of private credit for a while now, something above 12 percent a year in what I've read, and the demand side makes sense…

derekj19SB1B16 replies

Happening NowHotels / Short-Term Lodging (Passive Hold)

What would I actually be buying in a $410k roadside motel?

Small town, two hours from anything, single-story L-shaped motel, 14 units, all with exterior doors onto the parking lot. Seller is 74 and wants out, asking $410k, says he'd take…

joe_delgado5AP4CPRO4Answered1 reply

DiscussionHotels / Short-Term Lodging (Passive Hold)

Underwriting a 112-key select service where 40% of room nights come from one contract

Looking at a select service property where the P&L looks clean until you get to the segmentation report. Two crew contracts, both energy sector, are 41% of room nights at a negoti…

23Ttashaford30PB2APRO40 replies

DiscussionMultifamily Development

Underwriting a 2029 delivery when I can't see rents that far out

I'm looking at a 180 unit garden style deal, roughly 42 million total cost, 68 percent LTC construction debt, 24 month build plus 12 to stabilize. Trended rents are the whole ball…

aaron_fitz10 Get yoursPRO15Answered1 reply

Happening NowMultifamily Development

Offered the listing on a 62 unit development site. How do I price the work?

Site is entitled for 62 units, seller has held it three years and is done. They want it listed and they want a broker who understands development, which I am learning to be rather…

32Rryanmck27SC2CAnswered1 reply

Happening NowSelf-Storage (Passive Hold)

Third-party management contract on a 480-unit facility, the fee stack doesn't add up

Owner group asked me to review a management agreement before they sign. 480 units, roughly 52,000 net rentable square feet, small metro on the edge of a bigger one. Occupancy 86 p…

tonyv88SO4CPRO6Answered6 replies

DiscussionSelf-Storage (Passive Hold)

Who keeps the tenant protection commission under a 6% of gross deal?

An owner I've been talking with has a 42,000 rentable square foot facility, about 310 units, grossing roughly $560k. He's decided he wants out of the day-to-day and asked me to re…

35NnataliehsuSO1BPRO100 replies

PollMobile Home Parks / Manufactured Housing

Institutions are in the sector. How much of the 2027 affordability thesis is already sitting in the asking cap?

I've been reading offering memos in this space for about eight months without writing a check, and the pattern is getting hard to ignore. A 60 to 120 lot park on city water and se…

18Sstephen_ok9CO2CPRO416 replies

PollRetail Centers / Strip Malls

Grocery anchor with falling sales and a comfortable occupancy cost ratio

A 41,000 sf grocery-anchored center came across my desk this week. Anchor has 8 years left plus four five-year options, base rent $11.75, and the seller volunteered store sales of…

marcus_hale41CG4A1 reply

PollLarge Multifamily (Institutional)

Everyone says buy the trough. How would a beginner know they're standing in one?

I've got capital to place and no operating experience, so the whole pitch I keep getting handed is timing. National apartment vacancy around 8.5 percent, described as peaked, fore…

13Sstephen_ok9CO2CPRO40 replies

Happening NowDrone Videography

Two-pilot drone division model, 61% billable hours, tell me what's wrong with it

I've been asked to put money into a drone media operation as a minority position and I built the model myself rather than take theirs. Their deck assumes things I can't support, s…

36Hhannah_west29 Get yoursAnswered12 replies

DiscussionDrone Videography

Does an aerial shot do anything for the appraisal or is it purely a marketing spend?

I look at loans more than listings, and something came up on a file that I don't understand. The marketing package on a rural property included aerial video and the broker treated…

sonia_alvarez Get yoursPRO6Answered2 replies

More threads

THEFORUMThe Rena Forum

Newest posts

FORUMThe Rena Forum