every post in the forum, newest first
A servicer's regional vendor coordinator sent me a work order for a 1,450 square foot single story that got repossessed in the fall. Photos show maybe half the house furnished, a…
I got a vendor pricing sheet from a field services company and I'm trying to figure out where the trap is before I sign it. Debris removal is priced per cubic yard with a cap on t…
Six months, $18,400 all in, and the failure was a sentence of ad copy I approved without thinking about it. I came at seller leads from the renovation side, so my underwriting sta…
Seller owes 118,000 at 3.25 percent on a 1960s ranch that needs about 60,000 of work. She'll wrap at 6.5 percent on a 245,000 price with 25,000 down, 30-year amortization, balloon…
A construction background is a real edge on the lending side, because someone who has built can look at a rehab budget and see which borrowers are lying about it. The question is…
Take a $95,000 first lien funded through a loan broker on a single family rental in a slow secondary market, borrower buying to hold and refinance out. Appraisal came in at $146,0…
Take a hotel repositioning fund holding four assets. Reading the LPA and the quarterlies before committing is more diligence than most investors do, and it can still miss a struct…
Take a single family rental renting around $1,650 a month. An owner gets quotes at 10%, 10%, 9% and 6%. The 6% shop is newer, growing, pricing aggressively to win doors. The savin…
Take a placement agreement where one clause lets the housing company terminate on seven days' written notice once the carrier closes the claim, and another lets them substitute oc…
Take a two bedroom condo near a hospital where the mid-term math beats the long term math, but only if the furnishing number stays small. The range circulating online is enormous.…
Here is one worth working through. Small mill town, population under 4,000, two hours from anything. A former nurses' residence, 8 rooms, one shared bath per floor, a big commerci…
Take an operator running six rooms under a city rooming house license. Individual room leases, month to month, shared kitchen and two baths, weekly common area cleaning provided b…
I've been asked to price cleanouts on a batch of 12 units for a manager who takes back a steady number of them after eviction. Scope reads as debris removal and a make-ready clean…
My first rental is a two bed one bath, about 900 square feet, and the tenants gave notice for the end of March. They've been fine, rent always on time, and from what I saw at the…
A manager running a portfolio of small multifamily and single family doors will eventually run into this: an owner sells, the tenant moves out, and the owner asks the manager to g…
Staging keeps coming up for people choosing a side of this business because it looks like the cheapest thing to start. In most markets the stagers advertising will show a mix of c…
Contract at 212k on a 1970s three bed with a bad roof and a tenant on month to month. Comps supported 305k fixed. I'd sourced it off a stacked list, pre-foreclosure filing plus lo…
Worth noting a distinction ag lenders often draw that generalizes well beyond citrus. An appraiser will typically separate two numbers on income producing land: the bare land valu…
Still finishing my license, so I've been picking up shoots on weekends to have some cash coming in while I study. Saturday was the first one someone actually paid me for. A 1,600…
Working a small list by hand, say 220 owners over 25 years of tenure in two zip codes, occasionally produces a callback like this one worth thinking through as a scenario. A fourp…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
