every post in the forum, newest first
Had him in for three weeks, demo done, waterproofing done, backer board up. He found a bigger bathroom job across town, told me Thursday afternoon he'd finish "after that one," wh…
My brother and I closed nine doors ourselves and every one took patience, but right now I'm preparing to scale and a few people in my market keep telling me to plug into a local m…
Closed on 18 acres in Adair County, Missouri last October for $14,500 cash. That number I knew. What I did not count on was $340 for the title search I ordered separately because…
Experienced sub-to operators will sometimes say the strategy is really a bet on the servicer staying asleep, and it is worth sitting with. Consider an operator with eleven of thes…
Sitting on a 2021 vintage fund, $8.2M committed, 14 LPs, and the GP has deployed about 60% into three assets in the Tampa market. Two of them are fine. The third one is a 48-unit…
A common observation from investors who pay bird dogs consistently is that the ones who last know which sellers are ready to talk before the seller knows it themselves. Practicall…
A situation sponsors run into once a lending book matures. Say three repeat note investors ask within six weeks whether they can come in as equity on the next deal. One of them ha…
Rehabbing door 8 right now and my GC handed me his standard agreement at the start of demo. His template, his terms. I signed it without thinking but now I'm wondering if that doc…
The answer keeps moving depending on what you assume the final sale price is, which is most of the lesson in this comparison. Deal A is a 48-unit in Huntsville, $50k minimum, 7 pe…
A lender's counsel will sometimes put it this way: you are pricing the exit before you have priced the cost of being wrong. Take a first BRRRR in Akron where the whole structure a…
I actually do not hate it on the surface because 10% preferred sounds better than 8%, but I am sitting here wondering if they shifted something else to make room for it. Like did…
Anyone sitting behind a mezz piece should study this one. Say an investor buys a second lien on a mixed-use in Bridgeport, CT in late 2021 for $38k, well behind a senior at about…
I've been studying listings in the $280k to $340k range in the Columbus suburbs because that's where I'm trying to buy, and I keep running into the same thing. Bad exterior photo…
Trying to figure out if I'm splitting my time wrong. Right now I'm putting about 12 hours a week into driving routes, mostly a 40 mile loop through two zip codes in the southeast…
Here is a commercial assignment worth taking apart. A 12 unit in Akron, estate situation, three heirs who all disagree on price and a seller who wants out fast. The wholesaler tie…
Found out Tuesday. We had a verbal on splitting a motivated seller I brought him in Dayton, nothing signed because I kept saying I'd get to it. He put the property under contract…
Not because the numbers changed. The duplex in Garfield Heights, $187,500, penciled out at around $1,100 a month in rent against a $1,040 PITI and I had two tenants already in pla…
A pattern worth working through. Say a buyer with capital keeps getting sent deals where the wholesaler wants $18,000 to $24,000 on top of a $310,000 to $340,000 acquisition range…
Sitting on a deal right now where this is the thing I can't get comfortable with. Single-tenant QSR pad, 8 years of term left, operator is a 34-location franchisee with financials…
I'm looking at a 312-unit deal in Phoenix right now where the T-3 shows $1,680 average and the in-place leases from that window are rolling off over the next 18 months. The sponso…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
