every post in the forum, newest first
Two clauses sitting side by side in a debt fund's limited partnership agreement are worth examining carefully together. The first is in the servicing standard. A manager permitted…
Take a 310,000 dollar first position private mortgage on 46 acres, structured as a 100,000 dollar participation for the investor considering it, with the borrower's plan to split…
For an owner who does not want a second job, the process matters as much as the price. Say a land planner quotes $6,500 to take a 22 acre parcel through a minor subdivision into f…
There are two opposite stories going around about finding rough houses. Someone in my area told me to just drive neighborhoods and write down houses that look rough, and someone e…
A useful scenario for anyone sourcing off-market: two leads surface from the same list pull, and there is only enough capital and attention for one. Lead A is a probate situation,…
A small furnished unit tends to produce two different models for the same building, which means one of them is usually wrong. Model one prices it as what it is: furnished monthly…
For land acquisition specifically, cold mail to the county tax roll address tends to perform better than it does on houses, since a land owner has usually been paying the tax bill…
Pricing is the hard part here, and it is better worked out than copied from whatever the last quote in the market was. Take a deal: $40m stabilized value, $26m senior fixed at 6.5…
Take a refinance across five small multifamily properties totaling 118 units in one metro, with a blended maturing rate of 4.1 percent and a new senior quote of 6.6 percent at 60…
@wendy_park48 five percent hard cost contingency is a number appropriate for a product type built twenty times in a row, not for a first pass through a 1980s office tower with a c…
Consider a 1984 tower, 14 floors, 22,000 sf plates, with the distance from curtain wall to core about 40 feet on the long elevation. Slab to slab is 12'8". Single central core wit…
Driving for dollars is often the strategy with the lowest barrier to entry, since it needs no budget and can start the same week. The less obvious decision is what to do once a pr…
Consider a twelve year, $2M allocation with two ways in. Option one is an open end core plus multifamily fund: 0.85 percent on NAV, no promote below a threshold rarely triggered,…
Take 19 acres at $84k. Taxes plus a once-a-year mowing contract run about $1,400, which most buyers looking at that parcel can absorb without noticing. The uncomfortable part is w…
Consider a small builder doing four to six houses a year, watched from a distance for two years before any move is made. He has a finished 1,700 foot three bedroom sitting since A…
The questions were mine, from a live deal. How a lender is likely to treat a unit that's been vacant nine months in a DSCR sizing, what a reserve line should look like on a 1960s…
A recurring pattern in wholesaling as a service is a sourcing fee quoted with a repair estimate bundled in, and it's worth thinking through whether that number should come from th…
Read a fixed-price gut contract from a GC and the allowances section is usually doing an enormous amount of work. Allowance for tile, allowance for cabinetry, allowance for anythi…
Here is a scenario worth working through. A capital raiser has co-invested with a sponsor twice and is asked to bring the LP equity on the next deal. 6.5m of equity total, 2.3m so…
I'm putting together my first syndicated deal, small multifamily, about 6m of equity needed. Someone I met through a broker says he can bring 4m of it from his own investor list.…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
