every post in the forum, newest first
First time trying this so bear with me. I found a fourplex at 519k, four two-bedroom units, currently rented at 1,100, 1,125, 1,100 and 1,050. I was going to do FHA at 3.5 percent…
Gap funding protection gets described two different ways, and the two versions do not fully agree. One version treats the recorded second lien as the real protection. Being behind…
Been chewing on this since a broker sent me two things in the same week and they're basically opposite bets. One is a fractional interest in an operating facility in an establishe…
A call that happens mid-rehab on a property meant to be kept and rented. The owner asks to add it to the same policy as an existing rental and the agent says no, a landlord policy…
Take a four unit BRRRR bought at 265k with a hard money bridge, 82k of rehab across all four units, all in near 360k, with a bridge maturing in seven weeks. Stabilized rents at 1,…
I'm sizing a first real allocation and the bidding rule is the thing I can't settle. Two coherent ways to run it and they produce different bids on the same certificate. One: pric…
I'm mostly looking at land and holding patterns, but a listing in a small town described itself as a rooming house with 9 sleeping rooms and 21 residents on the license. That conf…
This is a loss with no closing statement, which is exactly the kind that rarely gets written up. Consider a small ground-up under contract, 9 units, 3 stories, wood frame, in an i…
I was finishing trim in a vacant townhouse when the listing photographer came through. I figured I'd be in his way for an hour. He was done and loading the car in about fifty minu…
Six months of building models, no deals yet, and I want to stop being wrong about this line before I write offers. Here's my monthly carry sheet on a hypothetical 2.6M purchase in…
Finished this one 11 days ago and I want to write down what actually happened while I still remember the order of it. House: 1,320 square foot three bed on a slab, 1991, inner rin…
Just started, so I'm probably about to get corrected, but I've been running numbers on published notices as practice deals and the pattern is ugly. Take one: ARV around 320k after…
A recurring friction point in transactional funding shows up when the closer and the funder disagree on the escrow instructions themselves. Take a file set to close in a few busin…
Two typical quotes on a $150k first leg. One funder charges 2 percent of the funded amount with a $2,500 minimum. The other charges a flat $3,000 plus a $495 doc fee, with the fee…
Take a 46 lot subdivision with a single entrance, where an engineer can plat it as one phase or split it into two phases of 23. Two phase typically costs more in total, often in t…
Working out what a first parking deal actually costs to run and the payment system is the line I can't pin down. Small lot, 40 spaces, mix of hourly daytime and a handful of month…
Consider a service business owner, several years running a crew, who has spent that time inside other people's renovations without ever owning one. Now there's a 1960s split level…
Finishing my licensing coursework and the plan is to buy something ugly, live in it for the two years, and sell it myself to skip the listing side of the commission. On a 400k res…
Cosmetic gut on a 1,450 square foot ranch wrapped last week, photos are shot Friday. My agent wants to post it as coming soon for six days before showings start so the first weeke…
Picture a rural county of roughly 9,000 people, a letter sent to heirs, and a call back from a woman who inherited her uncle's place. Three bedroom farmhouse, 1,900 square feet, o…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
