every post in the forum, newest first
This is the question I'd be embarrassed to ask out loud. Everyone talks about the two year rule like it's obvious you'll make it, but what if I get 18 months in and I genuinely ca…
A spec build joint venture structured around an 8 percent preferred return, return of capital, then a 70/30 split to investors reads as a standard shape on its face. Consider a tw…
The plan I had drawn was 3,200 square feet and the framing number came back so far over my budget that the whole thing stopped working, even before I priced the mechanicals. Meanw…
A case worth laying out, because the rule that saves the account is the one most people resent setting up. Say an investor funds a self directed IRA and sets what feels like an ov…
A 7,800 square foot lake-adjacent house is a useful case for this problem. Within four miles and two years there might be only three arguably comparable closings, one a family tra…
Site will carry either a 40 unit walkup at three stories or 120 units at five with structured parking. Same land, same zoning envelope, different world. Hard cost per unit on the…
A trash-out and cleaning operator sizing up a national vendor contract is a useful scenario to work through, because the headline rate rarely tells the whole story. Say the terms…
An agent handling a bank-owned house asked me to price a trash-out. I quoted it the way I'd quote a move-out cleaning, hourly plus supplies, and she came back asking for a cubic y…
After months spent reading fund decks for data center exposure, a common conclusion is that the power story in most of them cannot actually be verified from the outside. Minimums…
I'm still saving toward a first rental, but a friend on the LP side forwarded me two offerings in the same Sun Belt MSA, submarkets about four miles apart, and I've read both twic…
Here is a situation worth working through. An investor spends six months with an agent who bills himself as investor focused and hands him a written screen: max purchase 180k, 8.5…
Bought a 1958 three bed, one and a half bath, 1,340 square feet, at $158k. Agent's ARV was $265k, backed by three comps she sent in a one page PDF. Sold at $232k after 152 days on…
I'm midway through licensing and I've been in a micro-wholesaler group chat for a while, mostly listening. Roughly 14 members, informal, deals get passed around with a one-page JV…
A structure worth examining carefully: a small group of part-time wholesalers, say five members doing roughly four contracts a month between them, asks an outside party to fund ea…
A useful case for anyone underwriting junior liens: a performing second lien, UPB 41,000, coupon 10.5%, P&I 402, 27 consecutive on-time payments in the servicer ledger. Purchased…
A private lender I know is selling a note on a house I did the kitchen and bath on a couple of years back. Owner-occupied, borrower has apparently paid every month since. He wants…
A scenario worth working through. A sponsor sends a mezzanine slot behind a senior loan on a five story office in a second tier downtown. Building is 1998, about 110,000 sf, 71 pe…
Been through the PPM twice on a fund buying obsolete office for residential conversion, and I want other eyes before the next closing. The seed asset is a 1974 tower, 180,000 sf g…
Consider an LP position in a prime CBD office asset where the debt is the part worth stress testing. As presented: a $78m purchase, 91 percent leased, in place NOI of $5.65m, so a…
I've got two parcels I'll probably sell in the next couple of years, both held free and clear, and I've been reading sample notes to figure out what I'd actually want in one. The…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
