I hold notes, I don't own the properties. With a long-term rental I can look at a lease and a payment history and get comfortable. On a short-term rental there's no lease and the…
Basic question that I should already know and don't. On a 34-lot park where all 34 homes are tenant owned, what am I insuring? There's no building. I've got roads, a well house, a…
If the whole scope is paint, flooring, fixtures, a vanity swap and landscaping, and no wall is opened and no system is replaced, is there any filing that happens at all? Or is it…
Duplex, contract at $410,000, lender ordered a 1025. There's a converted garage unit that's been rented at $1,400 a month for years, no permit on file, separate meter, own entranc…
Looking at a 1,900 sq ft single family with a permitted 1-bed over the garage, already has its own meter. Listing at 465k. Market rent on the ADU looks like 1,450 based on three c…
Former drug store box, 12,200 sf, been dark a while. Market rent for the whole block is about $16 NNN because there are maybe two users in the trade area who want that size. Broke…
I run pipe and I can read a mechanical drawing fine, but the apartment offering a friend forwarded me is a different language. It says 84 units, T-12 NOI of 612,000, going-in cap…
Here's the deal I'm looking at. Loan is 2.9%, balance 227k, PITI is 1,412 with 310 of that going to escrow. Rent comps are 1,725 to 1,775. The problem is what happens to that 310.…
I've been reading through the paperwork on a 30-unit single-asset raise a sponsor is putting together, mostly to understand who does what on a deal like that. Securities counsel c…
Just started, everything is new. People in this space say JV about about four different things and I can't tell them apart. Someone told me they JV'd a deal and all they did was t…
Trying to understand staging as something to put money into rather than something to buy, and the whole thing seems to live or die on inventory turns. Here's the model I built and…
I've got a mixed-use building I'd sell tomorrow if the buyer could get a loan. He can't, he's self-employed two years and every bank wants three. He asked about owner financing an…
Working on getting licensed and I want to understand this from the ground up before I ever try it. Everything I read says lead with empathy and never mention how you found them. B…
Deal in front of me: $420k purchase, $180k rehab budget, senior hard money at $480k funded in draws, and I'd be putting in $120k as a recorded second. ARV pencils around $780k, bo…
Short-listing six deals for $300,000 total, $50,000 a position. Two of the LPAs say a limited partner who doesn't fund a call gets diluted at 1.5x the shortfall amount, and a thir…
I've got a spreadsheet of 40 counties and I've been stuck in it for weeks, so I'm trying to move on something. Read a thread somewhere about a guy pulling $40k a month selling mot…
Running a two-person route in a metro of about 900k. We log roughly 400 addresses a month between us. Skip tracing at about 18 cents a record, but my usable hit rate (correct owne…
The sheet says: data center ABS, 5 year, investment grade rating, secured by long term leases to investment grade hyperscale tenants, target coupon in the mid 5s. Then underneath…
Brokerage ICAs might be the strangest documents in this business, and I spend a lot of time in the paperwork nobody else reads. The agreement says the agent controls their own hou…
A sponsor's mailing list sent me a preferred equity tranche at 12 percent and I've been staring at it for two days. I've been looking mostly at the lending side, and everything I…