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DiscussionJV Capital Provider

The term sheet says JV but it reads like a syndication to me

An operator I've been talking to sent over a two page term sheet for a 48 unit deal. Top line says "JV equity partnership." Then the terms are 90/10 contributions, 8% preferred re…

wendy_park48CapitalPRO15Answered7 replies

Happening NowMultifamily Property Management

First monthly report on an apartment position. Which lines are the tell?

I put money into a 180-unit deal as a passive investor and the first real operating report landed. Twelve pages. I read paperwork for a living on the acquisition side but I've nev…

marcus_hale41CG4A2 replies

DiscussionMobile Home Parks / Manufactured Housing

How much cash do I need liquid for a 25-lot park?

I own a service business and I'm after income that doesn't become a second company to manage. Two 25-ish lot parks in my area came up, both around $700k, lot rent in the $270 rang…

monica_tran3SF4CPRO11Answered1 reply

Happening NowMobile Home Parks / Manufactured Housing

Fund deck says lot rent goes $290 to $425 in year two. What am I missing?

First time looking at this asset class and I'm reading a private offering for a fund buying parks in three states. I don't have operating experience so I'm bringing the numbers an…

19Hhannah_west29 Get yoursAnswered10 replies

PollTransaction Coordination

At what file count does one coordinator stop being reliable?

I've got a coordinator taking my acquisitions at $395 and she's carrying somewhere around 38 open files across four clients. Two of mine went sideways last quarter in the same way…

samantha_ruizAU4APRO54 replies

PollMultifamily Development

Do you need a construction background to develop, or can you hire it

I'm on my third value-add project and every developer I talk to came out of one of two places. Either they built things for a living and moved up into owning them, or they came fr…

carlos_nunezActive1 reply

PollSeller Financing (Capital Provider)

New to this: when people say the note is the asset, what makes one note worth more than another?

I've read maybe a dozen threads here where someone sells a house, carries the financing, and then talks about the note like it's a thing sitting in a drawer with a price on it. I…

chriswalton8CC1CPRO153 replies

WinBookkeeping (Real Estate)

Rebuilt the chart of accounts across three entities. Month-end closed in four days.

Month-end closed on the fourth business day in October. First time in two years that's happened, so here's how it actually went. Starting point: two LLCs holding small commercial…

wendy_park48CapitalPRO15Answered2 replies

DiscussionBookkeeping (Real Estate)

Bookkeeping for two private notes, is there even anything to do?

I lend rather than own, and I've got two private notes I'm carrying. The servicer sends me a statement every month showing what came in and what got remitted to me. As far as I ca…

sonia_alvarez Get yoursPRO6Answered4 replies

Happening NowBookkeeping (Real Estate)

Trial balance due March 1 on books nobody has reconciled since October

My aunt handed me her 11 units last month and the last bank reconciliation in the file is dated October of the year before last. She's stepping back, I'm running it now, so the me…

megan_doyle15 Get yours27 replies

DiscussionBookkeeping (Real Estate)

Per door or per entity, how do people price landlord books?

I've got two landlord clients on the books now and I priced them both at $150 a month flat, which I'm pretty sure was a mistake. One is nine doors inside a single LLC, one operati…

angela_burkeServicePRO128 replies

DiscussionReal Estate Agent (Buyer's Agent)

One agent across everything, or a different one in each market?

Few deals in and I've hit a wall with the agent I've been using. She's excellent in the county she lives in and completely lost twenty minutes north, where the inventory I actuall…

samantha_ruizAU4APRO58 replies

PollReal Estate Agent (Buyer's Agent)

Volume buyers: hire the representation or go get the license yourself

If you expect three or four purchases a year, the buyer-side fee stops being a one-time closing cost and starts looking like a recurring line item. At a 300k average price and 2.4…

aaron_fitz10 Get yoursPRO150 replies

WinMedium Multifamily (5-20 Units)

Page 44 of the title commitment had six of my parking spaces deeded to the building next door

An 18-unit brick walk-up in a first ring suburb, 1.42M asking, 21 striped spaces in the rear lot and a lender who wanted at least one space per unit for the loan to work as quoted…

wendy_park48CapitalPRO152 replies

WinMezzanine Financing

The senior's cash sweep nearly ate my coupon before the 1.29x payoff

Got taken out at par plus exit fee last month on a mezz participation I put $125k into 22 months ago. Writing up the part that nearly killed it, because it wasn't in the mezz docu…

raj_mehta14CapitalPRO1330 replies

Happening NowVirtual Wholesaling

Two markets picked, 3,400 records pulled, nobody dialed

I pulled lists in two mid-size metros about 900 and 1,400 miles from me. Both are places I picked because the buyer forums there look busy and price points are under $200k. What I…

luis_carrera Get yoursAnswered4 replies

DiscussionVirtual Wholesaling

Where does the money actually go in a virtual wholesale deal?

Before I fund anything connected to this, I want to understand the model. What I've read says virtual wholesaling needs no money because you assign the contract instead of buying…

30Sstephen_ok9CO2CPRO4Answered13 replies

PollInvestor Relations (For Syndicators)

Building a list of IR clients: go after new sponsors or ones already on their third fund?

I've got a list of maybe 30 sponsors in two markets and I'm trying to work out which half to actually call. First-time sponsors: they have nothing. No template, no portal, no sche…

devon_pierce Get yoursPRO146 replies

PollLand Subdivide and Sell

Sell the lots yourself or list them, when the whole margin is the spread

Third split I've worked on and I still handle the sales the same way, which is to say I list them with a local agent and pay the commission out of each closing. On a nine lot proj…

samantha_ruizAU4APRO51 reply

Happening NowReal Estate Agent (Listing Agent)

Three listing proposals on a $385k house. What am I comparing?

A friend asked me to sit in on her listing appointments because she knows I've been poking around the service side of this business. Her house is a 1,600 square foot three bed in…

derekj19SB1BAnswered18 replies

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