This was supposed to be the easy version. I had a small two bedroom I had fixed up, market value around 122k, and a buyer who could not get a mortgage because of a short work hist…
Shutting this one down, so here's what it cost. The idea: wholesalers I already did marketing work for kept complaining that their phone numbers were bad. I had a decent pipeline…
51 clean payments, 8.9% note rate, $498 a month, UPB $56,200. Small southeast town, 1.1 acres, doublewide set on a permanent foundation with skirting and a carport. I paid 84 of U…
1,720 square feet, three bed two bath, single story, small city in the middle of the country where the median is around 350. Sold at 392 with a 26 day marketing period. Numbers as…
I mailed 300 letters to a list of notices of default in two zip codes, got six calls back, and one of them was an owner four payments behind on a 1970s three bed I comped at 289.…
The O&E report came back with one unpaid tax installment, $1,840, on a loan with no escrow account. That's the part I want to talk about, because everything else about this note w…
Closing out a position I should never have taken, so here is the arithmetic. 168 beds off campus at a mid-tier private university, $18.9m purchase, about $112k a bed. Raise was $6…
Posting this because the failure was in the research step and it's the cheapest step to do properly. 2019, I bought a 2-unit property, each unit 3 bed 1 bath, four blocks from a p…
I have spent two years reading about lending and never actually put money out. What finally happened is that I sold my own duplex and carried the paper instead of taking cash, whi…
Long holds are my usual thing so this was out of pattern for me, and I want to write it down while the numbers are still fresh. Single story plus mezzanine light industrial buildi…
I've been looking at the lending side rather than owning, and eighteen months ago that looked like an easy way in. A sponsor I'd met at a local meetup had a 96-unit under contract…
Someone in a local investor group posted asking whether a 0.4 acre corner lot could take four units under the current code, and got eleven guesses in the comments. I messaged him…
Not an operator by trade, I do service work around this business, but I wanted one of these for myself and it's done. Small two bed, bought at 96k on a private loan from someone I…
Closed on a 1920s three unit in a blue collar pocket of a mid-size metro last spring. Purchase was 214k, I'd budgeted 28k of work, and the plan was to place voucher holders in all…
14 units across three small buildings. My actual problem was never leads, it was that I found out someone was leaving when they told me they were leaving, usually 30 days out, and…
I mostly buy land and hold it, so this was me stepping outside what I know. A seller I'd talked to for two years finally wanted out of 14 acres, mixed timber and pasture, county r…
Wanted to test whether I could do content myself before paying anyone. Two months, mostly evenings and Sundays. I tracked hours because I track everything, and it came to 61 hours…
Still no deal of my own. But this worked, so here it is. Last winter I started tracking published street rates weekly across 40 facilities in three submarkets, unit by unit for th…
Posting the numbers because the thing that made this work was a modeling choice, not a market call. 1920s triplex, two ones over a two one, in a streetcar suburb of a mid sized mi…
Posting this while it's fresh. I set up a small texting operation last year, signed three investor clients on $900 a month retainers, and shut it down in month four. What I spent.…