Running seven seats across four clients, all hourly, bill rates $14 to $19. Gross margin sits around 41%. Two clients have started asking why they pay for hours when a chunk of th…
I've been sitting on two tabs for about a month. Program A is run by a guy who is clearly still buying. He posts closing statements, he'll talk about a deal that fell apart last T…
The 2025 law added enhanced incentives for investments in rural zones and tightened which census tracts qualify at all. I've been reading fund decks on both sides of that line and…
Ground-up on a small infill project, $3.2M total cost. Bank offer is 8.25% floating at 55% loan to cost, full recourse, and I'd be writing a $1.44M equity check. A debt fund offer…
Two open-end debt funds on my desk and I've been going back and forth for three weeks. Fund A. $740m loan book, 118 loans, weighted coupon 10.4%, weighted LTV at origination 63%,…
Working out the plumbing for a service business I'm setting up around seller leads, and the first real fork is where the lead lives. Two agencies I talked to want opposite things.…
I've spent the last year pricing new construction on land I control and nothing pencils. Hard costs on a garden-style shape came back roughly 39 percent above where I'd have model…
Thin margins, fast deals, and I'm now hearing from a broker that dual agency claims are the ones that get agents sued and that carriers treat them differently. Is that a real thin…
Small rural market, maybe 900 people in the town. Two houses on the market that fit what I'm after, a 3/1 at 94k and a 2/1 with a decent outbuilding at 78k. Same agent on both. Sh…
The facility is 180 units on a paved lot, gate with a keypad, no manager on site. The seller told me he drives over twice a week, walks the rows, and the rest is done from his lap…
Small syndication, one facility, 310 units plus 22 outdoor RV/boat spaces. Sponsor owns it already and is selling down 40 percent of the equity to fund a canopy build and a gate/a…
I have spent six months reading without closing a deal, and the gain I have is from selling a stake in something unrelated to real estate. Roughly $70,000. I started looking at qu…
Pulled our placement data for the last four quarters because a couple of our private lenders started dangling tier pricing and I wanted to know what we'd actually be giving up. 38…
My first closing ended up being the structure I told myself I'd never start with, after six months of reading. Writing it out because most of what I read about wraps skipped the m…
This keeps coming up as the thing you do when you have no marketing budget, and I've heard it from enough people that I want to know what it actually costs before I ever try it. F…
I read houses for a living from the framing side, so I tried using that on a driving list instead of mailing everything at once. 90 addresses logged over six weeks in an older tra…
Twice this year I've been asked to frame for builders doing one-off spec houses, and my crew is small. Both times I said no because my guys were booked, and both times the builder…
I'd rather be on the lending side than the owning side, and this was how I got there without buying anybody else's note. I sold the one rental I owned and kept the loan. The prope…
Sold a piece of equipment and a small parcel in 2024 and had about 96k of gain. Plan was simple in my head. Buy a beat up two story in a designated tract, do most of the work myse…
I've been reading two hospitality fund decks side by side for about a month, and they've pushed me into a disagreement I can't settle on my own. Deck one is all about segment and…