one click, then see the split
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…
It helps to separate what happened from what people predicted would happen. The case that nothing changed: NAR paid $418 million and rewrote the rules effective August 17, 2024, a…
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…
Take a position where a sponsor suspends the preferred return in year two of a five year plan. Occupancy is fine, the problem is floating rate debt with a cap expiring soon and ca…
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 situation worth watching on any block right now. A seller with a 1960s split level is told by her listing agent that she does not have to offer anything to the buyer's side, so…
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…
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…
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…
Two mREIT quarterlies read side by side can pull in opposite directions on what matters most. One shareholder letter leads with book value per share every quarter. The argument is…
Most institutional apartment decks in this cycle show the same return bridge. Buy 20 to 30 percent under the 2022 peak. Renovate and push rents. Exit into a firmer market in 2029…
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…
A useful comparison for short-term rental underwriting: two files that fail in opposite directions. File A is a mature mountain market with three years of comp data, over 40 close…
Take two tracts that both need the same rezoning, from ag to single family at around 3 units an acre, with sellers wanting completely different structures. One structure is an opt…
Pricing a public REIT by forward FFO multiple, discount to consensus NAV, and implied cap rate against private comps can produce three different verdicts on the same name. Say a f…
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…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
