I own a four unit and an eight unit and I've spent almost nothing on legal work. My closings were both handled by a title company because my state doesn't require an attorney at c…
Every underwriting model I build for a heavy rehab now has a second tab on it, and I want to know if that's normal or if I'm adding work for nothing. Tab one is the flip. Purchase…
Two parcels in the same region, both about 80 acres, and I keep flipping between them. The first is what everyone here would call Grade A. High soil productivity rating, tile that…
Two office deals landed in my inbox this month and both decks quote the same national numbers. Vacancy near 18 to 19 percent. Office CMBS delinquency at 12.34 percent in early 202…
Listing a small 4 unit next spring. Three units stay occupied through the sale, one tenant is out in March and the unit will be empty and freshly painted. My agent wants to stage…
Reading a deck on a 1980s eight story, 140,000 sf, 54 percent leased, and the downside case doesn't end in a loss because of a line that says "residential conversion, $185/sf all…
I've been reading two hospitality fund decks side by side and they disagree about the most basic thing. One buys extended stay only, same brand family, secondary markets, and says…
I've been trying to talk myself into a small multi-tenant medical building and I keep running into the same loop. Everything I read says the specialized improvements are the moat.…
I'm still preparing, no apartment deal of my own, and I've been trying to work out what people mean when they say twenty units is a different animal. I own nothing at that scale s…
Working out how to pay for lead gen when I start buying, and every structure I look at breaks in a different place. Flat retainer plus ad spend is the standard. The agency gets pa…
A sponsor I've followed for a while is capitalizing a value-add deal and gave me two ways in with the same 150k. Preferred equity at 8 percent current with a share of the upside,…
I've been sketching out how private capital gets allocated across buckets, and mortgage REITs broke my sheet. I had one line for real estate and one line for credit, and I couldn'…
This is my first building over four units. Everything I own now is duplexes and a triplex and I do all of it myself, which mostly means answering my phone at dinner and knowing wh…
I do most of my looking in counties where the median sale is under $120k and a good rental buys at $65k. I've hired advice twice and both times the pricing conversation broke down…
I've been trying to decide which shape of data center risk I'd actually be willing to hold for a decade, and I keep flipping. Deal A: single tenant, one of the very large technolo…
Been reading offering documents for a few months now and I can't settle this one, so I'll put it to the room. The pitch for non-traded REITs is that the shares don't swing with da…
New enough at this that I'm still surprised by it, but roughly a third of the probate leads I've looked at came with no interior access at the offer stage. The heir has one key, l…
Reading two inspection agreements side by side for a property with a fair amount of connected equipment. Thermostats, four cameras, a leak sensor setup tied to a valve, a video do…
Halfway through getting licensed and the boarding house owners I've met keep pushing me in two directions. One path is third party management. Fee is typically higher than convent…
Purchase agreement on a performing first came back with two clauses I keep rereading. One, the endorsement is in blank on an allonge, not endorsed specifically to me. Two, the ori…