Two of the funders I've been calling lead with the same line: if your closer will close A to B using the end buyer's funds, you don't need us. One says it as a filter, they only w…
I'm building out the admin side of a small service business and sub-to keeps coming up with the investors I talk to. The piece they disagree on hardest isn't the deed or the equit…
Two offerings on the same portal, both multifamily, both roughly four to five year holds, and the distribution structure is the only thing I can't reason my way through. One pays…
Under contract at $1.03m on a 46-lot park, 35 occupied, lot rent $340, city water and sewer, all pads served and metered. The 11 empty pads are the entire reason the price works.…
Six of us, and we've been operating on a group chat and goodwill since spring. That has produced eleven closed assignments and two arguments that took a month each to settle, so w…
Coming from residential I have one move. ARV, comps, repair number, done. Everyone I email understands that language. Sent my first small commercial thing out last month, a 12 uni…
I've been building a comparison sheet for the mREIT side and the split that keeps showing up is agency versus credit. On the agency side you're holding mortgage-backed securities…
Two offering documents in front of me. One is a public non-traded REIT: registered with the SEC, audited annual financials, quarterly filings, $2,500 minimum, monthly subscription…
I'm studying for the license and medical office keeps coming up as the safe corner of a sector that otherwise got hammered. The reasoning I hear is that a clinic can't work from h…
I've had four funds' materials open since August and I keep arriving at the same argument with myself. One camp says the tape decides everything. Vintage of origination, weighted…
I ran this three ways this month because a client keeps insisting the answer is obvious and I don't think it is. Start with 1.5M of equity and no strong view on rates. A. One 1.5M…
I've been sitting in on sponsor interviews for a conversion allocation and the split in the room is sharper than I expected. Candidate A has done four office-to-residential projec…
I was filling in my own allocation sheet and got stuck on where to put this. On paper it's a building with a lease, so it's real estate. But when I read the actual drivers, they'r…
Small tract, pine, first commercial thinning is technically due. A thinning is where you cut maybe a third of the stems to give the rest room to grow, and the wood that comes out…
I've held this facility eleven years and the manager who came with it is retiring in the spring. She works 22 hours a week and costs me a bit over 26k all in with payroll taxes. O…
The house is a 1970s three bedroom, everything works, carpet is shot, kitchen is oak with the orange finish everyone hates. Layout is fine. The boxes are solid and the doors are a…
I'm putting together a service business around real estate, which means I read a lot of management agreements, and last week I read my first farm management agreement. It was for…
Every LP position I hold today is an operating asset with a rent roll I can read line by line. Ground-up is the part I keep circling and not committing to, and I'd like to hear wh…
Two listings open on my screen and they are almost opposites, so I want to put the choice to the room before I talk myself into whichever one I looked at last. The first is 70 acr…
Reading the account agreement before I fund it, and there's a clause I hadn't thought about at all. Every year I have to provide the custodian a fair market value for each asset t…