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PollLand Wholesaling

Skip tracing every owner vs mailing cold to the tax address

Got two parcels under contract this quarter and one of them came from a hand mailed list, so I'm rebuilding my acquisition process and stuck on cost. Option A is cold mail to what…

carlos_nunezActive8 replies

PollMid-Term Rentals (30-90 Days)

Furnished rent or long-term rent when you model a mid-term unit

Working through a small furnished unit and I keep landing on two different models for the same building, which means one of them is wrong. Model one prices it as what it is. Furni…

dpatel_reCS4A4 replies

Happening NowMezzanine Financing

Mezz quote on a five-property refi, and I think my exit is mispriced

Five properties, 118 units total, all small multifamily in one metro. Blended maturing rate is 4.1%, new senior quote is 6.6% at 60% of appraised value. That leaves a $2.4M hole a…

23Bbrandonlee36Passive4 replies

DiscussionMezzanine Financing

How do you price a mezz strip from 65 to 78 percent without just picking a number?

Pricing is what I'm wrestling with here, and I'd rather work it out than copy whatever the last quote in the market was. Deal in front of me: $40m stabilized value, $26m senior fi…

sonia_alvarez Get yoursPRO66 replies

DiscussionAdaptive Reuse (Capital Deployment)

When does a 40 foot lease depth with one wet stack stop being worth studying?

I'm walking a 1984 tower, 14 floors, 22,000 sf plates, and the distance from curtain wall to core is about 40 feet on the long elevation. Slab to slab is 12'8". Single central cor…

gregpowell66AG4BPRO1211 replies

Happening NowAdaptive Reuse (Capital Deployment)

Fund PPM sets hard cost contingency at 5 percent on office conversions

The PPM in front of me is for a fund that buys obsolete office and converts to apartments. Target equity $180m, three year investment period, four buildings under letter of intent…

wendy_park48CapitalPRO152 replies

PollDriving for Dollars

If your first find comes off your own windshield, are you wholesaling it or keeping it?

I've been circling strategies for months and driving is the one I can start on Saturday with no budget. What I haven't settled is what I'm supposed to do with a property if I get…

aaron_fitz10 Get yoursPRO150 replies

Happening NowLarge Multifamily (Institutional)

The entry queue is the part I can't price on an open-end core-plus fund

Twelve year hold, $2M, and I've narrowed it to two ways in. Option one is an open-end core-plus multifamily fund. 0.85 percent on NAV, no promote below a threshold I'll probably n…

ehernandez74PO2BPRO73 replies

PollLand Banking (Buy and Hold)

How much of everything you own can sit in something that pays nothing for ten years?

19 acres at $84k. Taxes plus a once-a-year mowing contract run about $1,400. That part I can absorb without noticing. What I can't get comfortable with is that the purchase would…

20Ttashaford30PB2APRO44 replies

PollGround-Up Residential Development (Spec Home Building)

Builder offered me his last finished spec at 392 or a piece of the next one for the same money

Small builder, four to six houses a year, I've watched him work for two years without doing anything about it. He's got a finished 1,700 foot three bedroom sitting since August, l…

priya_n21PO1C14 replies

PollFix and Flip (Full Gut)

Fixed price contract on a gut, or cost plus with a bench you trust

Reading a fixed-price gut contract from a GC and the allowances section is doing an enormous amount of work. Allowance for tile, allowance for cabinetry, allowance for anything be…

8Ttashaford30PB2APRO45 replies

PollEducation / Coaching

Asked a chatbot and a $450 consultant the same three questions, uncomfortable overlap

The questions were mine, from a live deal. How a lender is likely to treat a unit that's been vacant nine months in a DSCR sizing, what a reserve line should look like on a 1960s…

jessreyes12AU1APRO166 replies

PollWholesaling (As Service)

Should the person finding the deal also be the one estimating the rehab?

Third one this year where the sourcing fee is quoted with a repair estimate included, and I keep going back and forth on whether I want that number from the same person who gets p…

29Bbrandonlee36Passive2 replies

DiscussionRaising Capital / Investor Relations

Guy wants 2% of what he raises plus a quarter of my promote

I'm putting together my first syndicated deal, small multifamily, about 6m of equity needed. Someone I met through a broker says he can bring 4m of it from his own investor list.…

aliyah_bAU2APRO96 replies

Happening NowRaising Capital / Investor Relations

20% of promote to raise 4.2 of 6.5, or 2% at close. Same answer every time.

Sponsor I've co-invested with twice wants me to bring the LP equity on their next one. 6.5m of equity total, they have 2.3m soft circled internally, so my piece is 4.2m. Two struc…

17Hhannah_west29 Get yours0 replies

DiscussionAdaptive Reuse / Conversion Projects

Getting drainage to 40 apartments in a building plumbed for six restrooms

Trades background, mostly commercial mechanical, so I'm coming at this from the pipe end rather than the money end. An office floor has maybe two wet stacks serving a core restroo…

karen_whitfieldPG4APRO7Answered2 replies

Happening NowAdaptive Reuse / Conversion Projects

Keep the shell or demolish it? I want a rule, not a feeling.

I've had a 4.1 acre parcel on the edge of a small downtown since 2019, bought for the land at $310k. There's a 1974 light industrial building on it, 38,000 square feet, single sto…

diane_kowalskiPassivePRO14Answered15 replies

LossDouble Close Wholesaling

Title company backed out of the same-day close 48 hours before settlement

First one I got all the way to a settlement date and it died on the closer's desk. Numbers: contract with the seller at 112k, end buyer signed at 131k. Small 3/1 in a working clas…

jordan_ellis2ActivePRO913 replies

PollRV Parks / Campgrounds

Does a first park need somewhere for the owner to sleep?

I've been reading two small park listings side by side for a month now and the difference that keeps stopping me isn't the site count. One has a three bedroom house at the front,…

karen_whitfieldPG4APRO73 replies

Happening NowEducation / Coaching

A $7,500 note course invoice has sat unpaid for a week

Five months of reading about notes and I'm still confused in a way I can't fully describe. I understand the mechanics of a performing first lien in the abstract. I don't understan…

raj_mehta14CapitalPRO1318 replies

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