it finished, here is how it went
First rental, a small three-bed in a working-class part of town, bought early last year. I wanted to do this properly so I hired a bookkeeper off a marketplace at $180 a month. Sh…
Take a six person renovation crew whose biggest prior job was an 18 unit building done over eight months. Scaling from that baseline to a 312 unit contract is a case worth studyin…
Take a multi-tenant medical outpatient building, 44,000 sf, twelve suites. An operator coming from conventional suburban office work, priced at $1.60 to $1.90 per sf per year, mig…
I took the job because I wanted to learn the business from inside and I had no production of my own to protect. Comp was $2,400 a month plus 3% of the company vesting over four ye…
Consider a first purchase coming from a wholesaler two states away from the house, a 1960s 3 bed slab ranch in a stable blue collar neighborhood with a tenant in place at $1,050.…
Take 160 acres of planted pine bought on the theory that it is cheap land with a crop that can be harvested on its own schedule, at $2,150 an acre, $344,000, all cash. A typical c…
A useful case for passive investors evaluating a value-add multifamily sponsor. Take a 176 unit, 1998 vintage property in a mid-size Sun Belt market, bought at $21.5M, or $122k a…
Here is a case worth studying, because the failure is procedural and it repeats. Take $5,000 into a diversified fund on one of the big portals while the investor builds a list of…
A useful case for anyone underwriting a first medical office deal involves a 3,400 square foot single tenant medical building, built 2004, in a town of about 28,000 with a small h…
Here is a case worth studying because the failure is a boring underwriting one. A small mixed-use building, two retail bays downstairs and four apartments up, in a secondary marke…
Take a case of two partners buying 40 acres of dryland at the exurban edge in 2019, $5,200 an acre, $208,000, split 50/50 through an LLC. No income, taxes around $1,900 a year at…
Title work is often treated as strictly the buyer's side of the fence, an assumption worth revisiting after a listing dies at day 34 over an old lien, costing the agent a fee and…
Found this off a service call. Homeowner in a 1970s ranch had a repipe quote she couldn't pay and a plumbing problem that was going to get worse. She wanted out. I'd been reading…
Adding a pre-listing inspection product, where a seller pays for a condition report before the house goes on the market instead of waiting for the buyer's inspector to find issues…
Triplex, 470k, bought as a long hold with a manager on it so I could stay out of the day to day. Gross rents 3,975 a month. My model showed about 640 a month of cash flow after ev…
I put 12k into a public non-traded REIT last year. This is the smallest amount I've ever felt nervous about, and the reason I'm writing it up is that the part that mattered wasn't…
First house I ever sold, small three bed, and I wanted to do it properly so I hired a stager. I told her my budget was around 2,000 and she asked which rooms mattered most. I said…
First deal I did the normal way, locked a property and then panicked for two weeks looking for someone to take it. Fee was $3,100 and I nearly blew the closing date. This one I ra…
Worth laying out as a case, because it is a common misread for a first-time crowdfunding investor coming from direct ownership. Say 5k goes into a value-add apartment deal on a pl…
Take a case worth studying in public REITs. A portfolio built entirely on a yield screen, owning whatever pays over 6 percent, often ends up concentrated in older retail, net leas…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
