every post in the forum, newest first
Nearly everything written about probate assumes a house with 30 years of belongings inside and a dumpster out front. Land investors ask two fair questions about it. First, what do…
Two offering memos for roughly the same thing crossed my desk this month, a mid-sized industrial shell in a secondary market, and they put construction risk in completely differen…
A useful case to think through: a 132 key select service hotel in a secondary market, bought in a down window, PIP completed the prior year, now finally running at plan. RevPAR up…
A full listing photo shoot involves more preparation than most sellers expect. A photographer arriving with two tripods and a 3D scanning rig will typically walk the whole house f…
Vetting a cold calling or SMS vendor is a different shape of underwriting than a rent roll, and the two most common ways to judge one pull in opposite directions. Cost per lead is…
A vacant infill lot held for several years while waiting on infrastructure, say a sewer extension, is a common target for illegal dumping once it sits unused long enough. A walk o…
Here is a working capital structure worth poking holes in, because the shape of the risk is unfamiliar to most people coming from property. Numbers as typically presented: about $…
A small two unit REO purchase makes a useful case study on the cost of skipping one specific check. Bought at $148,000 in a market where comparable duplexes traded around $205,000…
I read closing documents for a living and I've somehow never had to learn the vocabulary on the distressed side, so I'm asking the dumb one. REO gets used constantly and I've seen…
Consider a two page term sheet for a 48 unit deal. The top line says JV equity partnership. Then the terms are 90/10 contributions, an 8 percent preferred return, a 70/30 split ab…
I've owned raw ground and a couple of long-hold rentals for years, so this is new territory for me. An operator I've known through a local owners' group asked me to fund the equit…
I put money into a 180-unit deal as a passive investor and the first real operating report landed. Twelve pages. I read paperwork for a living on the acquisition side but I've nev…
A common profile: someone who owns a service business and wants income that doesn't turn into a second company to manage. Two parks of roughly 25 lots come up in the same area, bo…
Consider a private offering for a fund buying manufactured housing parks in three states. Say the deck shows six acquisitions, 480 lots total, average in-place lot rent at 290, wi…
I've got a coordinator taking my acquisitions at $395 and she's carrying somewhere around 38 open files across four clients. Two of mine went sideways last quarter in the same way…
A seller-financed note is a promise to pay secured by a house, and the mechanics are simple enough on the surface: the buyer pays the seller monthly instead of paying a bank, the…
Most developers doing value-add or ground-up work came from one of two places: they built things for a living and moved up into ownership, or they came from finance and hired a co…
A fair question from the lending side rather than the owning side. Take an investor carrying two private notes through a servicer. The servicer sends a monthly statement showing w…
A month-end close finishing on the fourth business day is a reasonable benchmark, and getting there from a slower baseline usually comes down to the chart of accounts, not the boo…
A pricing mistake that shows up constantly in landlord bookkeeping: two clients priced at the same $150 a month flat. One is nine doors inside a single LLC, one operating account,…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
