I'm working out where I fit on a deal a local sponsor brought me. They're building 22 townhomes inside a designated tract and they want a $400k second position piece at 12% with a…
Purchase $18.2M, 152 units built in 1984, $3.1M of capex over about 30 months. Total equity $6.9M with $500k of that mine. Waterfall is 8% pref, 70/30 to a 13% LP IRR, then 50/50…
I'm building a disposition service for operators who put distressed high-value houses under contract and then discover they have nobody to sell them to. Two wholesalers have alrea…
I move slowly and I know it. Two years of looking, no purchase, mostly because the small multifamily I want at the price I want doesn't come to market in my county more than a few…
I've been putting together a service business doing transaction coordination and compliance file prep, aimed at small brokerages and solo brokers who don't have admin. Talked to e…
Reading a subscription agreement and operating agreement for a spec build JV. 300k check from me, sponsor is a builder with what he says is nine completed houses. Two houses on ad…
Packet landed Tuesday and I've been costing it out all week. Terms as written: initial secure and trash-out at $38 per cubic yard, capped at 45 yards per work order unless I submi…
A group of part-time wholesalers I met through a local meetup asked me to be their earnest money source. Five members, they say they put roughly four contracts a month under agree…
A group I've looked at before sent me a mezzanine slot behind a senior loan on a five story office in a second tier downtown. Building is 1998, about 110,000 sf, 71 percent leased…
Been through the PPM twice on a fund buying obsolete office for residential conversion, and I want other eyes before the next closing. The seed asset is a 1974 tower, 180,000 sf g…
I've been assigning on my own account for three years and the spread is getting squeezed, so I'm moving toward getting paid for the sourcing itself. One client, a small fund buyin…
Small one. Striped lot, 12 spaces, sits behind a row of five storefronts in a town of about 30,000. Seller is one of the storefront owners and he's leaving town. Current: nine spa…
I've been an LP in five deals with the same sponsor, all one-off syndications, all fine. They're now raising a $40M value-add multifamily fund and sent me the PPM. I've read it tw…
Broker sent me a 22,000 sf single tenant suburban office, two story, built 1998, roof replaced 2019. Regional insurance back office occupies all of it at $14.50/sf NNN with 4.5 ye…
Five years of doing turns and common area cleaning for a small operator with three licensed rooming houses. He's 71, wants out of two of them, and last week he asked whether I'd t…
Sponsor runs one closed fund at about $14M of committed equity, 96 LPs, and is drafting a second. He wants to hand off all the investor-facing work: quarterly reports, portal upke…
I've done nine passive LP checks over six years and never once negotiated a term. This one is different because the operator came to me directly and there's no PPM, just a draft o…
I've got about $40k that's been sitting since I sold a small parcel last spring. A hotel fund came across my desk through someone I trust, value-add, buying select service propert…
Family entity ended up holding a 72-unit garden property attached to a parcel we've been sitting on for years. I know land. I do not know this, and I'm the one reading the agreeme…
Six weeks into taking paid work. Gear is bought and paid for, about $4,300 all in for a body, two lenses, a flash setup, and a tripod, plus $99 a month for editing software and cl…