First and probably last virtual attempt while I wait on my rental to close. Writing it up because the failure point wasn't where I was looking. Deal shape. Single family, 1,340 sq…
64,000 sf, four stories, built 1998, an inner ring suburb with a real amenity base within walking distance. Seller had a loan coming due and had already agreed with the lender to…
Service business pays the bills, so the investing side is meant to be hands off. Over about two years I put $88k into eight equity positions across three platforms, deliberately s…
I bought one note last year to find out whether I could do this at all. UPB $88,400, arrears $14k, paid $41k. Small three bedroom in an older inner-ring suburb, occupied by the or…
I've been planning a first rental purchase for about a year and the money has been sitting in a savings account earning something embarrassing. A flipper I know through a local me…
The seller's agent said the house had "always been a rooming house." It had. Six rooms, all occupied, papers going back to the eighties. What nobody said, and what I never asked i…
Background so the numbers make sense. I've done eleven deals, average price around $410k, and I've been stuck at that ceiling for two years. This one came from a seller whose sist…
First deal money is at 19k and needs to be around 45k. That's another two years at my savings rate, and the whole time I've been reading about buildings I can't buy. So I put 3k i…
Under contract on a 1,900 sf single family with a detached garage I planned to convert. My underwriting had the converted garage at $1,650 a month based on three comps in the neig…
Short version for anyone thinking about this. I was on a 70/30 doing about $120k of gross commission a year, so I was handing over roughly $36k. That number sat in my head for a y…
Six weeks ago I knew nothing and had no way in. Someone in another thread said leasing response time is where most communities lose money, so I decided to measure it instead of re…
I said in my intro I was planning the first purchase carefully and this is what carefully turned into. Posting it because most of what I read about this category is people running…
I put $180,000 into a private note secured by an 18 unit built in the seventies in a soft secondary market, second position behind a small bank first, paying 10% interest only. Sp…
Closed three weeks ago on 34 acres of raw land I'd sat on for nine years, no debt against it, taxes about 1,400 a year. Price 168k, buyer put 25% down (42k), I carry 126k at 8.5%,…
This is the question I would have been too embarrassed to ask in 2022, and now I've paid for the answer. $75k into a seven-facility value-add storage deal, single-asset syndicatio…
I do fast deals normally. Sixty to ninety days in and out, thin margins, everything I own is either under contract or under construction. So a nine year hold is the strangest thin…
Writing this for anyone at the start, because the mistake was basic and it cost me $1,150 plus the list. I wanted to test SMS for my own acquisitions instead of paying a vendor. B…
Left a job in logistics last year and needed something that produced income while I learned the property side. Picked drone work because it had a defined thing to learn rather tha…
Bought a two bedroom cottage for $132,000 last spring, put about $28,000 of my own labor and materials into it, rented it at $1,450. Went to my bank for a refinance and got turned…
Bought a 318k three bedroom, my second property. I do a lot of due diligence on everything except, apparently, the thing I signed on day one. My rep agreement said 2.5%, 7,950 at…