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WinPublic REITs (Capital Deployment)

3k into a REIT index fund while the down payment pile keeps growing

First deal money is at 19k and needs to be around 45k. That's another two years at my savings rate, and the whole time I've been reading about buildings I can't buy. So I put 3k i…

aliyah_bAU2APRO95 replies

PollMortgage REITs (mREITs)

Book value per share or dividend coverage, which one do you actually watch

I've been reading two mREIT quarterlies side by side and the shareholder letters are pulling in opposite directions on what matters. One of them leads with book value per share ev…

sonia_alvarez Get yoursPRO61 reply

LossAccessory Dwelling Units (ADUs)

My lender's version of projected ADU rent came out $780 lower than mine

Under contract on a 1,900 sf single family with a detached garage I planned to convert. My underwriting had the converted garage at $1,650 a month based on three comps in the neig…

luis_carrera Get yoursAnswered6 replies

DiscussionAccessory Dwelling Units (ADUs)

Appraiser gave my finished ADU $65k of contributory value on a $190k build

Detached 780 sq ft, permitted, separately metered, own address, currently leased at $1,850. All in around $190,000 including the site work. Went for a cash-out refinance and the a…

bmoreno23AB1BAnswered10 replies

Happening NowLand Development / Subdivisions

The paper lot offer beats my own pro forma on 34 acres

I have 34 acres under contract at $2.35M, zoned for detached single family by right, so there's no rezone in front of me. Engineer's yield study says 96 lots at 55 foot widths aft…

aaron_fitz10 Get yoursPRO1514 replies

DiscussionLand Development / Subdivisions

Surety wants cash collateral behind a 125 percent improvement bond

City wants a performance guarantee for the public improvements before they'll let me record the plat. Engineer's approved cost is $3.4M, they require 125 percent, so a $4.25M inst…

devon_pierce Get yoursPRO149 replies

PollLarge Multifamily (Institutional)

Every apartment fund deck shows the same three-part return bridge. Which line is actually carrying it?

I've read four institutional apartment decks this quarter as a prospective LP, and the return bridge is identical in all of them. Buy 20 to 30 percent under the 2022 peak. Renovat…

priya_n21PO1C9 replies

LossBroker Owner

Left to save the 30% split, spent most of it on being my own broker

Short version for anyone thinking about this. I was on a 70/30 doing about $120k of gross commission a year, so I was handing over roughly $36k. That number sat in my head for a y…

carlos_nunezActive1 reply

WinMultifamily Property Management

I mystery shopped six apartment communities and it got me in the door

Six weeks ago I knew nothing and had no way in. Someone in another thread said leasing response time is where most communities lose money, so I decided to measure it instead of re…

megan_doyle15 Get yours0 replies

Happening NowBRRRR Method (Passive Angle)

Appraisal came back 30k light on a duplex refi, deciding between 75% now or another six months of seasoning

Numbers first. Duplex, 1950s, bought at 142k with a private loan at 155k total draw (purchase plus first rehab tranche). Rehab came in at 48k against a 43k budget, mostly because…

24Bbrandonlee36PassiveAnswered3 replies

DiscussionBRRRR Method (Passive Angle)

Where does the "you get all your money back" part actually come from?

There's a house two streets over from my first rental listed at $130k that needs new roof, kitchen, and floors. My agent thinks $30k of work and says it would appraise around $200…

paulgrant17PassivePRO7Answered3 replies

WinAssisted Living / Residential Assisted Living (RAL)

Landlord only on a 5 bed, 14 months in and every rent check has cleared

I said in my intro I was planning the first purchase carefully and this is what carefully turned into. Posting it because most of what I read about this category is people running…

10Ttashaford30PB2APRO46 replies

PollTransactional Funding

Six hours of somebody's money. Who's actually holding the risk?

I hold land and wait, so this whole strategy is foreign to me, but a friend asked me to look at a funder's one page term sheet and I got stuck on the first paragraph. The pitch is…

karen_whitfieldPG4APRO711 replies

LossResidential Property Management

Borrower switched managers to save two points, and my note went to 92 cents

I put $180,000 into a private note secured by an 18 unit built in the seventies in a soft secondary market, second position behind a small bank first, paying 10% interest only. Sp…

sonia_alvarez Get yoursPRO610 replies

DiscussionSeller Financing (As Seller)

Carrying paper on the small commercial building I run my business out of

I'm looking at selling the shop building my crew works out of and leasing something cheaper across town. Free and clear, no mortgage. The buyer who's most interested runs a simila…

angela_burkeServicePRO12Answered4 replies

WinSeller Financing (As Seller)

Sold 34 acres on my own paper, and the partial release clause almost killed it

Closed three weeks ago on 34 acres of raw land I'd sat on for nine years, no debt against it, taxes about 1,400 a year. Price 168k, buyer put 25% down (42k), I carry 126k at 8.5%,…

11Sstephen_ok9CO2CPRO4Answered3 replies

DiscussionListing Content / Social Media

Contractor's land reel said "four lots ready to go" off the county GIS layer

I pay a content contractor $250 per parcel for a 45 second drone reel, a set of captions, and the long description for a land listing. Last package covered a 22 acre piece I have…

nicole_adeyemiPassivePRO143 replies

Happening NowListing Content / Social Media

Paid for copy and photos on nine turnovers and can't attribute the days saved

14 units, mostly two bed, working class suburb. Last year I ran turnovers with my own phone photos and a description I'd copy forward from the last tenant's listing. Average days…

20Bbrandonlee36Passive2 replies

DiscussionBRRRR Method (Active Operator)

Everything sold to BRRRR operators serves the buy and rehab, nothing serves the refi

I've been mapping vendors around this strategy because the service side is what interests me. Lead lists, skip tracing, contractor marketplaces, punch list apps, draw tracking. Al…

derekj19SB1BAnswered4 replies

Happening NowBRRRR Method (Active Operator)

18k stays in the deal. Does that kill it?

Numbers on the one I keep re-running. Purchase 142k, rehab budget 38k, closing and holding call it 9k, so all in around 189k. My comps put the after-repair value near 235k. If the…

luis_carrera Get yours0 replies

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