Do I say out loud that this would be my first assignment
I have a buyer who flips maybe eight houses a year and he agreed to a call on Thursday. The plan is to ask what he buys, write it down, and go look for it. Standard reverse order…
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I have a buyer who flips maybe eight houses a year and he agreed to a call on Thursday. The plan is to ask what he buys, write it down, and go look for it. Standard reverse order…
Not really my story, it's my parents'. They converted the back half of their garage into a one bedroom in 2019 because my aunt's rent went up and she couldn't cover it. Permitted,…
What I keep going in circles on, after six months of research and no deals, is which end of BRRRR to shop from. One way to look at it: the discount is where the money is made. You…
A friend sent me her appraisal report from a purchase because she wanted help understanding why the value came in where it did. I'd never seen a full one. I expected a page with a…
Fourteen months of looking, one purchase. Posting the numbers because the part I got right and the part that nearly killed it were both about the license, and I didn't expect eith…
Someone I trust forwarded me a deck for a self-storage fund. Minimum is $50k, which is most of what I have set aside, so I want to understand it before I do anything. The fees I c…
I've got two active deals in other property types and I'm looking at storage for the first time, and every summary I read says the frozen housing market is suppressing storage dem…
Seller sent me the standard lease he uses. It has the lot number, the rent, a line about pets, and a signature block. That's it. Nothing about who maintains the water line running…
Closing statement came back last month so I have the real numbers now. Bought a 31-lot park in a small industrial town, 28 occupied, all tenant-owned homes, lot rent $265 against…
This is my first split and I did the underwriting from listings because that's what I had. My state is one of the roughly dozen where sale prices aren't public record, so the coun…
Two buildings I've read files on recently, and the people advising each one were confident in opposite directions. The office case: 1960s three story, roughly 12,000 sf floor plat…
I've been building a comp file while I look for my first couple of deals, and I can't get the two claims about staging to sit in the same model. Claim one is price. Staged houses…
Small town, population under 4,000, about 40 minutes from anything. 3/2 on 5.1 acres, well and septic, built 1996. Seller inherited a job transfer she can't refuse and is two paym…
A wholesaler in my area is marketing houses where you take the deed and just keep paying the seller's existing mortgage. To me that sounds like using someone else's loan without a…
Looking at a commercial mortgage REIT, floating rate senior loans, mostly multifamily and office. Loans risk rated 4 and 5 are about 12% of carrying value. Total CECL allowance si…
I've been sitting with the interest rate sensitivity disclosure on an agency mortgage REIT and I think it's telling me something the summary doesn't. The table gives estimated cha…
Talking to two owners this month who run the same size portfolio and hold cash in opposite ways. The first funds each house separately. Every property has its own account with rou…
Numbers on the table from an agency proposal I'm reviewing. $6,000 monthly retainer, 15% of media spend, $18,000 media spend. That's $26,700 out the door monthly. Their own case-s…
An agency told me I can't run ads to my own site because the page is slow and has nothing on it that asks for a phone number, and quoted $650 to build a landing page for one 40 ac…
Running the numbers on what a brokerage needs to clear before the owner takes anything, and it looks like the answer is headcount, not skill. Say fixed overhead of 12k a month, so…