someone asked, the room worked it out
A cleared infill lot in a settled neighborhood carries a number that looks like a comp but works like a trap. The houses around it set the ceiling on what a finished spec can sell…
I've been building a list of cash buyers and came across two that operate differently. One pays all cash, closes in ten days, no contingencies. The other uses a private lender and…
A sponsor I follow closely held 47 LPs through a refinancing that failed to close on schedule, and the original five-year hold stretched toward seven with no clear exit in sight.…
Trying to figure this out because I have $58k sitting in an SDIRA and a sponsor I've worked with before is offering LP interests in a 72-unit value-add in Tucson. The IRA would ow…
A deal worth studying: a 240-unit acquisition, $18 million in LP equity, 8 percent preferred return, five year hold. The PPM defined a capital event as any refinancing that return…
Take a 10-unit where every door rents at $900. Gross scheduled rent is $108,000. Before a single repair, a realistic expense ratio on a building this size runs 45 to 50 percent, s…
My guy who runs a three seat shop here in Tucson told me something on Wednesday that I cannot get out of my head. He said the leads he delivers are real but the investor on the ot…
The first thing to get right is custodian selection, and most people do it backwards. They find the property, then scramble to open the account. A custodian that specializes in re…
A deal worth studying: a small commercial building on a lot zoned for a higher-density use, under contract at $480,000. The seller priced it on income from the existing structure.…
Closing on a small marketing shop next month, eight agents on monthly retainer averaging $380, and I keep getting stuck on the same clause buried in their vendor template. The sho…
I requested a rent increase on a unit in October. The housing authority acknowledged it, sent something about a 60-day review window, and then went silent. I followed up in Decemb…
The framing matters because it changes where you look first. A multifamily underwrite starts with the rent roll and works outward. A hotel underwrite that starts the same way is a…
I keep looking at parcels in Macomb County and nearby and I genuinely do not know what makes a site attractive to someone building self storage versus someone passing on it. Acrea…
Found a single-family note in Bernalillo County, seller-financed 2013, borrower never missed. Face was $112,000, seller wanted 85 cents on the dollar, and the pitch was basically…
I grew up hearing that you could not go wrong on central Illinois ground, that the worst-case scenario was flat and you just waited. Corn Belt, A+ soils, institutional money parki…
A deal worth studying: a 70k gap position behind a 280k senior bridge, purchase plus rehab totaling 410k, ARV projected at 510k. The gap lender took 12 percent interest and 20 per…
My friend closed on a duplex in Pomona last spring, all in at $540k after a $65k rehab, and the appraisal came in at $590k. She needed $620k to make the refi math work. So she's s…
A survey taken before closing is the moment this gets caught. Without it, what the commitment shows as an exception and what a neighbor or utility company treats as their right of…
The tension I keep coming back to is that a HELOC on an existing property gives you a draw you can time to the rehab spend, so you are only carrying interest on what you have actu…
I keep circling back to this because I don't flip anything, I just own a duplex I inherited, but I've been reading in this room long enough that the "start small, do a light cosme…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
