I've been reading passive office offerings for about four months now, slowly, and something is bugging me. Almost all of them run a five year business plan. Buy at a discount to w…
I'm looking at a small house near a business corridor and the furnishing decision is the part I keep going back and forth on. Three ways I've seen described here and elsewhere, an…
Rural markets and low price points are my usual lane, so a $2,500 minimum on a registered non-traded REIT was the first thing in this category I could reach at all. Then I found t…
I mostly read about notes and lending, so this is not my area at all, but a friend asked me to look at a co-hosting proposal for her condo and I got stuck on the first line. The a…
I manage about ninety units and I've been writing up the leasing side of it for a year, mostly because I got tired of explaining the same showing script. Enough people have asked…
Building a list right now, no deals yet, and I'm rehearsing calls with a friend so I don't freeze. The part I keep changing my mind on is whether the words "I'm going to assign th…
Two fourplexes on my list, within 15k of each other on price, and the mix is the only real difference. Building A is four one-bedrooms at 900, so 43,200 gross. Building B is two t…
A broker forwarded me a two story former medical office, about 11,000 sf, asking around $58/sf in a small city where finished two bedrooms lease fine. My first thought was that it…
Got a capital call notice last spring on a 1970s vintage multifamily position, 11 percent of original equity, framed as funding an extended lease-up and topping up the interest re…
I'm 40 certificates in across six states and I picked those states specifically so I wouldn't be exposed to one housing market. Spent an evening going through why the owners were…
Somebody asked me this week and I gave a muddier answer than I wanted to, so putting it to the room. A buyer signs a contract, and there's usually a title or settlement company al…
License paperwork is nearly through and I have two directions in front of me that I can't run at the same time with three guys. Direction one is investor work only. Repeat clients…
I've been reading two offering models side by side for a week and the thing that keeps stopping me is the terminal value. Deal one: 200 units, entry cap 5.1, exit cap 5.25 at the…
I'm reading this room from the outside, first rental still ahead of me, and the thing I can't resolve is how people decide the geographic shape before they've bought anything. The…
A listing came through this week at 289k asking, and the same street rents at about 2,050 for a comparable three bedroom. That's 0.71 percent of price in monthly rent. Twelve year…
Third inquiry this quarter came from a general contractor prequalifying subs for hyperscale work about 90 minutes out. Big scopes, long schedules, prequalification requirements I'…
I own small multifamily and I've never done a land deal, so I'm going to define the words as I understand them and someone can correct me. Entitlement means getting the government…
I've spent so long weighing options that I'm now weighing the wrapper instead of the deal, which is its own problem. Two versions I can actually execute. One, the IRA buys a modes…
Two operators told me two opposite things this month and I can't decide which one is right. The first funds every deposit himself, usually small, and says it keeps the file clean.…
Re-underwriting three room-rented houses for a partner and the reserve line is the softest number in every one of them. I can defend rent, I can defend taxes and insurance within…