Five single family rentals, all owned free and clear except two small notes, combined value I had at about $1.09 million. I wanted one blanket loan to consolidate and pull out rou…
I put out a 285k first position note on a 31 site park, 62% of my own value opinion, 24 month term, monthly interest only. It didn't blow up, and I still got it wrong in a way I w…
$142,000 bridge on a gut rehab the borrower already owned. He'd bought it a year earlier with cash, torn out most of the interior, and run dry. My money went in as a refinance, $9…
An owner I'd been talking to for a year had a former furniture showroom sitting dark in an 18,400 sf six-bay strip. Fourteen months vacant at $14 psf NNN asking, three tours, no o…
Vendor sold me what they called exclusive motivated seller leads, $200 each, minimum 20. Their pitch was that everything came from paid ads, so these were owners raising their han…
I wanted the version of this that just works, so I picked what looked like the most defensive thing on offer. A storage fund, eight facilities, all stabilized, no development, no…
Posting this because I looked for someone who'd actually had a loan accelerated and found mostly people saying it rarely happens. The deal: 1978 three bed, seller relocating for w…
2019 vintage, $60M value-add fund, 11 deals, $150k commitment from me. Final distribution landed in the spring and the fund is done at 6.5 years. Realized deal level gross multipl…
Bought a 4 unit in October, closed at 462k. The agent marketed himself to investors, sent me a two tab underwriting file with the offer, and I liked that he showed his work. Tab o…
Agent in my area, maybe 15 transactions a year, been talking to her for a while. She agreed to a one month trial. $300 flat for 12 posts and rewriting the descriptions on four act…
Side by side duplex, both units two bed one bath, built in the fifties. Contract at 342k. Appraisal came back at 331k and I sat with that email for about an hour before I understo…
Nineteen weeks on a 4 unit building, all of it underwriting, none of it closing. Walked away two weeks ago. Writing it down because the thing that killed it was not on my checklis…
$150k LP check into a recapitalization of a 52-unit assisted living community in a secondary market. Sponsor had two others like it, real operating history, decent reporting. I as…
Twelve acres with a tired 1960s ranch on it, notice of default recorded, first mortgage payoff 214k. As-is the whole thing is maybe 235k in that market, so on as-is numbers it's a…
Construction is my background, marketing is not, so when I decided to send mail on absentee owners in two counties I hired a VA through an agency at $8.50/hr to build the list. Te…
Small town, roughly 6,200 people, one large regional employer plus a hospital. 22 units in two buildings, $1.15M, in-place rents about 22 percent under what the newer product acro…
Six small buildings, 34 doors, midsize southeast market, closed in October. The management agreement came with the buildings and I took it by assignment at closing instead of term…
I had a small house under contract at $84,000 in a working town about an hour out. Cheap, tenanted, nothing exciting. I thought the financing would be the easy part because the nu…
I had 85k sitting from a business payout and had narrowed most of it to a public non-traded NAV REIT. The exit was the part I couldn't get comfortable with, so I bought a small sl…
Closed on a 4 bed 2 bath last year, decent street, mid-size city, no HOA. Whole house lease would have been around $1,850. I filled four rooms at $675, so $2,700, and I furnished…