I'd rather know what actually happened than what people predicted, so I've been reading the follow-up data. The case that nothing changed: NAR paid $418 million and rewrote the ru…
I've got two small rentals and I still buy most of my materials with a card in my truck. Got two quotes for monthly bookkeeping last week and they draw the line in completely diff…
One of my positions suspended the pref in Q2, second year of a five year plan. Occupancy is fine, the problem is the debt, floating rate with a cap that expires next year, and the…
I've been at research for six months with nothing closed, and I finally sat down with two agents in the same week. First one owns nine rentals himself, has had a license for eleve…
A neighbor two streets over is selling a 1960s split level and her listing agent has told her she doesn't have to offer anything to the buyer's side, so she's planning to offer no…
A wholesaler I've been talking to wants me to move a contract with a spread somewhere around $40k. He's used to 50/50 co-wholesale splits and told me that's just the standard numb…
An owner I've been sitting with has two proposals on the same 210-space surface lot in a courthouse and office district, and they are not remotely the same deal. Proposal one is a…
I've been looking at live-in flip candidates for about two months and the two shortlists I keep making are completely different houses. One is the tired 1960s ranch on a street wh…
Bridge and construction has been the fastest growing corner of private credit for a while now, something above 12 percent a year in what I've read, and the demand side makes sense…
I've been reading offering memos in this space for about eight months without writing a check, and the pattern is getting hard to ignore. A 60 to 120 lot park on city water and se…
A 41,000 sf grocery-anchored center came across my desk this week. Anchor has 8 years left plus four five-year options, base rent $11.75, and the seller volunteered store sales of…
I've got capital to place and no operating experience, so the whole pitch I keep getting handed is timing. National apartment vacancy around 8.5 percent, described as peaked, fore…
I've been reading two mREIT quarterlies side by side and the shareholder letters are pulling in opposite directions on what matters. One of them leads with book value per share ev…
I've read four institutional apartment decks this quarter as a prospective LP, and the return bridge is identical in all of them. Buy 20 to 30 percent under the 2022 peak. Renovat…
I hold land and wait, so this whole strategy is foreign to me, but a friend asked me to look at a funder's one page term sheet and I got stuck on the first paragraph. The pitch is…
Two underwriting files open and they fail in opposite directions, so I want to see how the room splits. File A is a mature mountain market. I have three years of comp data, 40-plu…
I've got two tracts on my list that need the same thing, a rezoning from ag to single family at around 3 units an acre. The sellers want completely different structures and I can'…
I spent years pricing buildings by what it costs to put them up, so the valuation side of this is where I'm slowest. I ran one industrial name three ways last week and got three d…
Been building scripts for the first dialing seat I'm renting and I got stuck on the opening line. The agency gave me a script where the caller uses an American first name and says…
I have six furnished doors now and I pulled the source of every placement since I started. Four of six units filled last year through the same corporate housing marketplace, which…