it finished, here is how it went
A small position worth studying, 50k, because it shows what the paper looks like when it works the way a junior lender wants. Take a single family flip in a first ring suburb, pur…
Long hold person by temperament and I got into LP deals because I wanted institutional-scale exposure without operating anything. Nine positions since 2018, checks between $50k an…
Consider a bridge loan of $6.8m, 12 months with two six month extensions at a point each, secured by 62 acres of ag-zoned land outside a growing metro with transmission running al…
Writing this for people at my level, which is the level where you read the deck and think you understand it. Two and a half years ago I put $75k into a 60 unit ground-up apartment…
A useful case for anyone carrying paper: a delinquent tax notice reaches the seller two years after closing because the county still has the old mailing address on file. Two years…
Signed a JV on 11 acres about 20 minutes out from a growing secondary market. Seller was an out of state heir who wanted it gone by year end. I got it at 88k on a 60 day contract…
Setup: I do 6 to 9 flips a year, thin margins, and I was drowning in bookkeeping labor. Last January I built out rules in my accounting software plus an AI categorization tool sit…
28,000 sf suburban office, three stories, 61% leased, built 1987. Seller was a family LLC that had owned it free and clear since the 90s and had stopped answering the leasing brok…
A disciplined way to run reverse wholesaling starts with asking one buyer what they want before looking at a single house. Take a local landlord with maybe 30 rentals. Asked at a…
A useful pattern on early BRRRR deals is treating documents as the load bearing part of the deal rather than the property itself. Take a small two bedroom house bought at $96,000…
I've had 15 acres on a county road since 2016. Taxes are $310 a year, I do nothing to it, I drive out twice a year to walk the lines. The 5 acres behind me is landlocked. No road…
A bird dogging story worth studying: a 1950s three bedroom on a regular walking route sits neglected for about twenty months, gutter hanging off the back corner, mail wedged in th…
The coupon on this fund was 10.25 percent net. I put 35k in because of one loan on the tape, and that loan is the reason I'm writing this. The fund is residential and small commer…
The collateral line in the offering read "first priority security interest in 100% of the membership interests of the borrower." I read secured and stopped reading. Nobody was sec…
I've been hunting a specific kind of parcel for about two years, 40 to 80 acres, road frontage, within an hour of a growing secondary market. That money has to be liquid because w…
A useful case to study: an 84 unit deal at a $9.4m purchase price, first senior quote at 65 percent of cost, $6.1m, verbal from the originator. That leaves a $3.3m gap against equ…
Ran dispo for a wholesaler on a 3/2 in a working class suburb, contract at 148k, comps supporting 215k, moderate rehab. Fee to be split was 14k, my half 7k. Best deal I'd touched.…
Take a small farm town, population under 4,000, roughly 50 minutes from anything with a hospital. Low price point houses out there sit ignored by most mailers simply because of th…
Contract on a 6 unit brick walk-up in a second ring suburb, 610k, 21 day close. My own buyer list is 340 names and I have closed with maybe nine of them. Sent it Thursday, nothing…
The insurance binder came back at 17,400 nine days before closing against the 9,600 I had in the model, and for about 48 hours I thought four months of work was gone. Shape of it.…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
