every post in the forum, newest first
I'm studying for the license and medical office keeps coming up as the safe corner of a sector that otherwise got hammered. The reasoning I hear is that a clinic can't work from h…
Two offering documents in front of me. One is a public non-traded REIT: registered with the SEC, audited annual financials, quarterly filings, $2,500 minimum, monthly subscription…
It is worth running the same 1.5M of equity three different ways to see how close the spreads actually land, since the intuitive answer is not always the right one. Option A: one…
Two schools of thought on evaluating a real estate debt fund keep colliding. One holds that the loan tape decides everything: vintage of origination, weighted loan to value agains…
Consider a lender who takes the lending side of a syndication rather than owning directly. A sponsor with a 96-unit under contract has all LP money committed but is short on perso…
First rental, small place, nothing exotic. The appraiser flagged the roof, which meant a repair and a reinspection, which meant the roofer's calendar, which was three weeks out in…
A term sheet on a rehab-to-rent loan will carry a line saying builder's risk binder required prior to first draw, naming the lender as mortgagee. Most first time borrowers assume…
Trying to get my head around the R that everyone talks about. Every write up I read describes buying at 70% of value minus rehab, then refinancing and getting all your cash back s…
I've been sitting in on sponsor interviews for a conversion allocation and the split in the room is sharper than I expected. Candidate A has done four office-to-residential projec…
Someone in a local investor group posted asking whether a 0.4 acre corner lot could take four units under the current code, and got eleven guesses in the comments. I messaged him…
I spent fourteen years doing site selection and trade area analysis for a grocery chain, mostly drive time modeling, cannibalization studies, and go/no-go on individual boxes. Lef…
Take a duplex bought a bit over two years ago, both sides identical two bed one bath. One side has been the owner's home the whole time, the other side rents for 1,300. PITI on th…
Modeling acquisition three on paper is where the lending side tends to fall apart, so here is a worked picture. Property one PITI 1,850, market rent around 2,150. Property two PIT…
A common bind worth working through with numbers. Say a lender wants 12 months of ownership before a cash-out refi at appraised value. Before that it is purchase price plus docume…
Not an operator by trade, I do service work around this business, but I wanted one of these for myself and it's done. Small two bed, bought at 96k on a private loan from someone I…
A common scene at a listing appointment: an older seller has a number in her head, heard secondhand from a neighbor whose house sold a couple of years earlier. The agent walks the…
A question worth working through directly: on paper a data center is a building with a lease, so it reads as real estate. But the actual drivers are technology company capital spe…
Take a probate duplex purchase, a 1920s side by side, both units 2 bed, market rent around 1,250 each in a working class part of town where the numbers still make sense. Purchase…
Numbers first. ARV around 240, needs maybe 35 in work, so I want to be in at 145 to 155 for it to be worth touching as a flip. There's a HECM reverse mortgage on it and the servic…
A scenario for the room. A housing authority does an annual on a three-unit. Units 1 and 2 pass. Unit 3 fails on bathroom ventilation, the fan runs but the inspector says it is no…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
