every post in the forum, newest first
There is something almost funny about a $4.82M close in Scottsdale where the HOA transfer fee is $350, the same cap that applies to a $280k condo two miles away. On a file like th…
I keep running the math on a 2-bed cape in West Roxbury, asking 489k, ARV probably 615k if I do the kitchen and both baths right. At 70 percent of 615 minus maybe 55k in scope, my…
Happened to me on a 14-acre parcel in Mayes County, Oklahoma last spring. Had the seller under contract at 31k, found a buyer at 44k, set the double close for three weeks out, and…
The equity is there on either path, so this is a timing question rather than a capacity one. Take a house bought for $224k in Raleigh, a March appraisal at $310k, about $18k of wo…
Say a content provider prices a first service package at $375 a month and an agent responds that it is less than her Canva subscription with the add-ons. That lands strangely, bec…
This one is worth studying because the fix had nothing to do with the physical house or its price. Take a five bedroom in a mid-size Ohio college town, about 40 minutes from Colum…
That is the number worth stopping on, ahead of the IRR projection and ahead of the zone location. Sponsor fee 1.5 percent, asset management 1.25 percent, fund admin 0.6 percent, a…
Phoenix took me four months to get that contract, one call-back out of 300 dials, and I had to split the fee with a transactional funder because the buyer needed a funded close. M…
Bought it three years ago thinking I'd figure out the farming side as I went, which I mostly have, but this irrigation situation is where I'm stuck. The current system is flood an…
Driving two zip codes in Polk County for the last three weeks, specifically 33803 and 33815. I pull up to a boarded window or a tarp on the roof and I write the address down, run…
One of my cabins needed a full gut last spring and I ended up using a local flipper I'd been watching for about two years. Smart guy, good instincts, always came in close to his n…
We do corporate leases fairly often in our portfolio, 900 units, and the lease is always with the company, not the individual workers. The company signs, the company pays, the com…
Take a triplex in Decatur, 118k ask, sitting 47 days, which is unusually long for that asset manager's pool right now. On the call she says they price for speed rather than value,…
The gap in a case like this gets blamed on vacancy, and here vacancy is not the problem. It runs around 9 percent against the 12 percent modeled. It is the room-turn cost. Underwr…
Take an 8 unit in the Springfield area of Jacksonville, listed at 1.1 million and collecting 7,200 a month gross, with a seller pro forma showing expenses at 32 percent. Anyone wh…
The income producing piece matters a great deal to hard money lenders, which is where surface lots get interesting. Many small lots run on month to month parkers with no leases, s…
That line is worth taking seriously, because what never really leave looks like up close is rarely what the phrase implies. Picture two small clinic buildings in the southeast, bo…
The property cleared about $14k before the mortgage, which felt like it was working until I stacked the debt service on top and landed at negative $3,800 for the year. The loan is…
A question a sharp CPA will raise when reviewing syndication K-1s is where the interest actually lands when a deal is structured as a wrap. The payor's interest deduction and the…
Closed on a fourplex in Riverside last March and paid $575 for the full inspection. Inspector flagged a bathroom exhaust fan that wasn't venting to the exterior, just dumping into…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
