Closed this in early 2023 and it's finally running the way it was drawn, so here's what actually happened. The land: 60 acres, mixed timber and pasture, two miles off a state rout…
I wanted income that didn't come with a phone call at 9pm about a water heater, so in the spring I put $18,000 across two mortgage REITs, one agency name and one more diversified.…
I don't like doing anything without paper, so before I looked at a single house I sat down with a buyer who owns maybe fourteen rentals in older working class blocks and made him…
Deed state, live sale, single family house, 1,340 square feet, 1958, in a neighborhood where similar houses were closing in the $95,000 to $110,000 range. Opening bid was the tax…
I want one boring rental and I thought paying for access to a network's deal flow would shortcut the search. Paid $1,500 for a six month buyer seat in a group of about a dozen sma…
I put $75k into a private fund that made short term bridge loans on apartment complexes, mostly 100 to 300 unit value-add deals. The pitch was that we sit ahead of the equity, fir…
Putting this up because I read a lot of conversion threads before I wrote the check and I didn't read enough of these. Two story masonry building from 1926, ground floor was a ban…
I signed with a VA agency in February at $9/hr for 20 hours a week, prepaid the quarter at $2,340 because the discount was 10% and I liked the idea of locking it in. The agency wa…
Ran this for seven months and shut it down in March. Posting the whole thing because the failure was at step one and I didn't see it until step four. The plan: serve two investors…
Seller had a 5 bed 2 bath, about 2,300 square feet, ten minutes from a commuter rail stop in a mid size metro. Listed at $287k. His whole pitch was a one page sheet showing five r…
Posting this because I did the modeling carefully and still ended up with the wrong answer, and the mistake was in the structure rather than the math. I bought a partial rather th…
Been selling motivated seller leads to six investors in two mid-size metros for about a year. Per-lead pricing was slowly killing me. $45 a lead, roughly 240 leads a month across…
First rental, a $168k three bedroom in a modest inner-ring suburb. At the closing table the settlement statement had the lender's policy on it, which the bank required, and then a…
The paperwork I own as a passive investor isn't the same as an agent's. Subscription docs, entity formation confirmations, insurance certs, lender condition lists that the sponsor…
I wanted the boring version and I got an expensive lesson in what a rent roll actually is. 60 lots on paper. The broker's package showed 54 occupied at $315, so about $204k of gro…
First rental, a small three-bed in a working-class part of town, bought early last year. I wanted to do this properly so I hired a bookkeeper off a marketplace at $180 a month. Sh…
We're a six person crew doing interior renovations. Until last year the biggest thing we'd touched was an 18 unit where we did all of them over eight months. This one was differen…
Multi-tenant medical outpatient building, 44,000 sf, twelve suites. I'd been cleaning conventional suburban office for years at $1.60 to $1.90 per sf per year and won this one at…
I bought 160 acres of planted pine three years ago on the theory that it was cheap land with a crop I could harvest on my own schedule. Paid $2,150 an acre, $344,000, all cash, no…
Been planning my first purchase for a long time and it ended up coming from a wholesaler two states away from the house, which is not how I pictured it. The property was a 1960s 3…