every post in the forum, newest first
This strategy confuses most people studying how private money moves. The whole appeal is the exclusion, and the exclusion belongs to the person living there. So if a lender wants…
A scenario worth working through with the room. A manager runs 410 units across three properties for two owners, fee at 3.5% of collected revenue plus a turn coordination fee. The…
Take a draft term sheet from an owner group on a 180-unit garden community: 3.5% of gross collected revenue plus a leasing incentive. Most managers coming up from smaller portfoli…
A common first purchase shape is small: four apartments over one or two commercial bays in a walkable older neighborhood. Brokers and loan officers tend to say some version of "th…
Take an owner with a modest existing portfolio pulling records on older multifamily stock nearby, mostly 4 to 12 unit buildings with long-tenured owners, ending up with a few thou…
Toured a building going up in a mid-size market, 28 apartments over 6,000 square feet of raw ground floor shell. The developer is selling it before stabilization and he's open abo…
Two single family rentals, both closing under the same LLC. I read a thread where someone said you don't need separate bank accounts per property because you can use class trackin…
Take a bookkeeper building an offer around a monthly package at $350 for up to 15 units and one entity, including bank and credit card reconciliation, categorization, a class leve…
Here is the part of this model that trips up anyone studying how private capital moves. Everyone in a micro-wholesaler network is small and part-time by definition. So when a deal…
A scenario worth working through, because it is the position a lot of list builders end up in. Say someone has been building a texting and skip trace list for about seven months,…
An operator with a 22 room house reached out about contracting out what he calls resident services. Right now that means daily common area cleaning, weekly room linen, a hot break…
The plan was diversification. One portal, five deals, $10,000 each, different asset types and different states. Two extended stay hotel conversions, a small industrial infill, a b…
I've been trying to work out what my first deal actually costs and ended up modeling one property both ways to see whether the rehab-and-refi cycle was worth the extra work. Numbe…
Reading the refinance step correctly matters before any of this goes further, and two different numbers get mixed up constantly. The common version of the rule says buy at 70 perc…
Been comparing two emerging manager structures side by side and they solve the same problem in opposite directions. Structure one is a real blind pool. Investors sign an LPA, comm…
Consider a landowner with 160 acres offered a solar option on the west 60, a twenty five year term with two five year extensions, an escalator on the rent, and a three year option…
A useful stress test for an open end bridge lending fund: take a 900 million fund, mostly first lien, with a loan tape that has just come in. The reliable numbers are usually the…
I've been going through a debt fund's offering documents and I'm stuck on something basic. The fund's schedule of investments lists 41 loans with addresses next to them, and my fi…
Take a 46 site park in a mid tier destination market with a real summer and a decent fall through the third week of October. The recurring question every winter is whether to shut…
A clause worth reading closely turns up in management agreements for small portfolios, tucked under reporting: the monthly owner statement the manager issues shall constitute the…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
