every post in the forum, newest first
Take a house bought at 280k with a 240k mortgage at 7 percent. That is 1,400 dollars a month in interest alone, and over a 24-month hold that number reaches 33,600 before a single…
Most underwriting I see on these properties takes the headline vacancy rate and applies it the same way you would on a standard multifamily, a flat percentage off gross potential…
The Phoenix deal is a 2021 vintage refi play, 7% pref, 70/30 split, projected 5-year hold with a 1.7x EM on the deck. My slot would be $50k and I go completely hands off. The Albu…
It's a hotel fund, so office is only about 18 percent of the total portfolio, but the amendment language around the extended hold period is doing something I can't quite parse. Th…
I have a gap loan sitting in Memphis right now, 14 months in, 11.5 percent, borrower is current and I expect payoff around month 18 when he refinances. That duration I planned. Bu…
The scenario worth thinking through: a franchisee signs a fifteen-year NNN, base rent at $120k annually, but the landlord funded $200k in TI at lease commencement and structured t…
Six months ago the standard advice was to get your deal in front of 2,000 emails and let volume do the work. That logic assumed the buyers at the top of any serious list were stil…
That phrase has done real work in killing deals. A restriction that runs with the land does not become informational because the title company calls it that, and a title policy wi…
Four months in and I still do not fully know if he is wrong. I am sitting on a hard money commitment out of Tempe, a GC who picks up on the second ring, and roughly $60k in home e…
A case worth studying: an owner holds 24 units across three small buildings, self-manages, and is spending roughly 18 hours a week on leasing calls, maintenance coordination, and…
I ran the standard screens on Memphis, starting with crime index, then median days on market, then owner-occupancy rate, then average rent-to-price ratio at current asking levels.…
The Phoenix condo is the only short-term I run, and I started using PriceLabs about four months ago because I was leaving money on the table around the Waste Management Phoenix Op…
A 90-unit independent living community had been offering a monthly meal credit since opening, 180 dollars per resident applied against a dining program that cost the property 340…
The challenge is that the rental is a lifestyle before it is a floor plan, and a single hero shot of a shared kitchen does not tell a prospective tenant anything about what living…
I have been looking at waterfall structures where the sponsor takes an asset management fee, a construction management fee, and sometimes a development fee, all of which sit senio…
A standard contract-to-close file has a predictable shape: purchase agreement, contingency dates, lender milestones, title, close. A construction loan file has that shape plus a d…
That stuck with me because it is partly true and that is exactly what makes it dangerous. A 40-space surface lot with 30 monthly contracts looks like stable income until you reali…
I have a $140k short-term gain sitting from a note sale I closed in March, 180-day clock started ticking around then, and I keep running into this question. The 5-year step-up to…
This was Durham, March of last year. Single family I had moved out of 18 months prior, converted clean, tenant had been there eight months without a hiccup. She lost a week of hou…
Sitting with a 9-unit in Elk Grove right now, asking $1.1M, in-place rents at $9,400 a month. Seller's pro forma gets to a 6.8 cap by taking expenses down to 34 percent of gross,…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
