I run the management side and one of my owners, single house, 3/2, was about to leave in January. His complaint was fair. His house had sat empty 51 days on the previous turn and…
I bought a 2/2 condo in a small ski adjacent town and a 3/1 bungalow twenty minutes from a regional hospital, and I never had any intention of running either myself. I interviewed…
I usually borrow this money, not lend it. Sold a flip last spring, had $215k sitting between deals, and a wholesaler I've worked with introduced a borrower doing a full renovation…
I have six units across three small buildings, all unfurnished long-term until this one. A regional office about a mile from one of my buildings announced they were adding staff,…
$2.5m into a $6.5m mezz tranche, recovered $560k in month 31. The sequence matters more than the number, because the place I got it wrong was not where I expected. Deal shape: 190…
Closed the sale nine days ago. I'd been in analysis mode for the better part of two years, and the thing that finally moved me was building a carry model I actually believed inste…
This is the first deal where the sequencing actually paid me instead of just making me feel organized. I'd spent about two months getting written criteria from small operators rat…
Writing this from the sponsor side. Mid-size industrial infill, five buildings, $14.2m purchase. Senior loan was $9.1m fixed for five years with defeasance and a lockout through y…
Two years ago an owner put a 24 unit, 96 bed off-campus portfolio out to bid and I won it at 4% of collected rent. Four bedroom units, one lease per bed, 12 month terms, parental…
I mostly look at deals from the capital side and I don't usually pay for marketing, so this was new to me and I got it wrong in an ordinary way. A partner and I had a 19 acre parc…
Bought a house with an existing permitted detached ADU, 560 sf, already leased at $1,725. Asking was $612k, closed at $571k, and the discount came out of a document the listing di…
I do small multifamily. In 2019 I bought 3.5 acres of scrub about a mile from where a new highway interchange was going to go, $28,000, cash, because a broker showed me the county…
I've been circling this business for a while without knowing which side of it I belonged on, and the first thing I actually finished was small enough that I could hold all of it i…
I said in this room a while back that I was going to stop analyzing and buy something. I bought six things over fourteen months, small residential, two of them off market. What I…
Six months, $18,400 all in, and the failure was a sentence of ad copy I approved without thinking about it. I came at seller leads from the renovation side, so my underwriting sta…
Funded a $95,000 first through a loan broker in early 2023. Single family rental in a slow secondary market, borrower was buying to hold and refinance out. Appraisal came in at $1…
Hotel repositioning fund, four assets, my position was $120k. I read the LPA before I signed and I read the quarterlies, which is more than most people do and clearly still wasn't…
I wanted the boring version that works, and I talked myself into believing the cheapest option was the boring one. One single family rental, market rent around $1,650. I got quote…
Contract at 212k on a 1970s three bed with a bad roof and a tenant on month to month. Comps supported 305k fixed. I'd sourced it off a stacked list, pre-foreclosure filing plus lo…
Still finishing my license, so I've been picking up shoots on weekends to have some cash coming in while I study. Saturday was the first one someone actually paid me for. A 1,600…