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DiscussionShort-Term Rentals / Airbnb

How do you price a county that has no STR rules and no plans to write any?

Cabin is $140k, three bedrooms, gravel road, about 20 minutes from a state park entrance in an unincorporated part of the county. I called the planning office to ask what the perm…

26Llaurenkim53PassiveAnswered13 replies

PollShort-Term Rentals / Airbnb

Furnishing budget: is $8k enough or does the $18k version pay for itself?

I'm working out a furnishing number for a three bedroom and the quotes I've collected are wildly far apart depending on who I ask. The $8k version is warehouse store and marketpla…

tylerbrooks9PassivePRO4Answered4 replies

LossAppraisal

I paid $3,100 for the education before I checked whether anyone near me would supervise

Wanted to get into valuation work. Found the qualifying education requirement for a trainee credential in my state, signed up for the package, paid $3,100 up front for the courses…

35NnataliehsuSO1BPRO102 replies

WinReal Estate Agent (Buyer's Agent)

Signed a 45-day, one-county agreement and closed inside it at 289k

The first draft the agent handed me was 12 months, the whole state, 3 percent. I read it twice, then read it a third time, and the part that bothered me wasn't the percent. It was…

31Kkevin_lombardPG1BPRO1715 replies

DiscussionReal Estate Agent (Buyer's Agent)

First year budget to work with buyers is $6k. What's not on this list?

Getting licensed and I want the cost side honest before I quit anything. What I have so far: pre-license course, about 500 exam fee, about 100 license application, about 200 backg…

22Rryanmck27SC2C6 replies

Happening NowShort-Term Rental Co-Hosting

Both listings run from my Airbnb account, with payouts landing in my bank

Contract is sitting in front of me for Friday. Two units, same owner, both already operating with a year of history I can see in the exports. Unit A, 2BR condo walking distance to…

25Rryanmck27SC2CAnswered17 replies

DiscussionShort-Term Rental Co-Hosting

Does co-hosting need a real estate license or just a business license?

I've been looking at the lending side mostly, but a borrower conversation turned into an offer to co-host two short-term rentals and now I'm trying to figure out what I'd need to…

sonia_alvarez Get yoursPRO6Answered3 replies

Story

I asked what RevPAR was in a room where everyone already knew

So I sat in on a call I had no business being on. A guy I know does investor relations for a sponsor that buys hotels and he said come listen, you'll learn something. Twenty minut…

jessreyes12AU1APRO165 replies

PollMezzanine Financing

REIT rules name mortgages and say nothing about mezz. Does that silence reach the price?

Went through a fund deck last week where the manager made a whole selling point out of the fact that REITs are cautious about holding mezz. The pitch was that the rules explicitly…

wendy_park48CapitalPRO1515 replies

Happening NowMultifamily Property Management

Quoting turns on a 96-unit. How do I price the empty days?

Owner of a 96-unit walkup asked me to quote all their turns for a year. I've done renovations for six years, mostly single houses and small flips, so the work itself doesn't worry…

omar_haddadActivePRO17Answered7 replies

DiscussionMultifamily Property Management

Do I need a broker license to manage a 120-unit for an owner, or not?

A broker I know told me flatly that managing apartments for a fee requires a real estate broker license. Then I toured a 120-unit community and the on-site manager said she's neve…

mikeoconnell7SP2APRO17Answered4 replies

DiscussionTransaction Coordination

18% of my files die and I only invoice at close

Running the numbers on my coordination line and the fall-through rate is what's breaking it. Last four quarters I've opened right around 40 files a quarter and roughly 7 of them c…

monica_tran3SF4CPRO11Answered4 replies

LossTransaction Coordination

The date calendar started from the wrong document. $2,000 of earnest money gone.

First deal, a two unit in an older working class neighborhood, $5,000 earnest money, 30 day financing contingency. I hired a coordinator at $300 a file because someone in a local…

megan_doyle15 Get yoursAnswered21 replies

PollMezzanine Financing

Should a first check on the debt side go into a mezz slice or somewhere safer?

Mezzanine debt has been on my mind for a few weeks and I want to test something with people who actually do it. What I understand so far. Mezz sits between the first mortgage and…

bmoreno23AB1B4 replies

PollSelf-Directed IRA (Capital Deployment)

Checkbook LLC or a direction letter for every single transaction

Third year running a small note and lending position out of a self-directed account, and I'm back to the structure question because a borrower needed a partial release on a Friday…

34Rrenee_dubois Get yours5 replies

WinSingle-Family Rentals (SFR)

Sold the back 0.4 acres and the house's basis problem went away

Bought a 1,340 square foot 3/2 four years ago at 168k on 1.1 acres at the edge of a town that has since grown toward it. Rent then was 1,340, rent now is 1,595. Unlevered yield at…

nicole_adeyemiPassivePRO142 replies

DiscussionListing Content (Agent / Broker Marketing)

Can I ask to see the listing presentation before I sign with an agent?

I'm interviewing agents for a family property and read that the listing presentation is basically the pitch meeting. Two of them have offered to "come present," one just wants to…

13Ttashaford30PB2APRO4Answered1 reply

PollListing Content (Agent / Broker Marketing)

Twelve solo agents at $450 or two teams at $2,800. I can't run both.

I've been building this thing sideways for a year and I'm now at the point where the next six months picks one shape. Current mix is nine solos paying $380 to $520 a month for a l…

26NnataliehsuSO1BPRO10Answered9 replies

LossSenior Housing (Independent Living)

The ADA question killed the margin on a concierge and transport service

Two properties, 190 and 155 units, both marketed as independent living lite. Age-restricted, no personal care, but with a package that included scheduled transport, a concierge de…

mikeoconnell7SP2APRO178 replies

WinLarge Multifamily (Institutional)

My $150k slice of a bridge loan on a 216 unit paid off last month, two quarters later than the model said

I've been trying to learn the lending side rather than the owning side, and this was my first real position. Writing down how it went while it's fresh. What it was: a participatio…

sonia_alvarez Get yoursPRO66 replies

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