one click, then see the split
This comes up whenever someone quotes turnover cleaning on a house that has not been bought yet. Take a buyer whose deal works at 68 percent occupancy and $240 a night and does no…
I hit the ceiling on my active deals and started underwriting a 12 room house that the current owner runs with two meals a day and weekly room cleaning. His rents are roughly 190…
Take a 12 over 3 in a second-ring streetcar suburb where the underwriting split changes the supportable price by about 18 percent. One approach requires the residential rent roll…
Take a buyer working through a first purchase who calls about a listing, likes it, and is told the listing agent can write the offer too. In states permitting this with written co…
Loan quotes on single-tenant retail keep setting up the same conflict, and it is worth hearing how the buyers here resolve it. Take a box with 9 years left on a corporate lease, n…
Say an operator has twelve hours of recorded material on running a rental turnover, built for internal training and cleaned up for outside use. There are two common ways to struct…
A recurring situation in sale leasebacks: an investor group approaches a business owner about buying the building the business operates out of. Take a freestanding 6,400 square fo…
Take an 88 unit garden style value-add offering, 1980s build, sponsor plans 62 interior renovations over 30 months at 18k per door all in. Hard cost contingency is 5 percent of th…
A few deals in and I've hit something I didn't expect. On my first two lighter rehabs I was at the house most days and I thought that was why they went fine. On the gut I just fin…
I came into this from a completely different industry and one of the first things I noticed is how much of a title search is pattern matching against recorded documents. Which is…
Sitting on about $1,400 and trying to work out the order of operations on the aerial side, because everyone I ask gives me the opposite answer. One path is spend on the Part 107 s…
I've been reading two different pitch decks for park funds and they lead with completely different things. The first one spends four pages on lot rents being $340 in the target ma…
Anyone funding a first small position in a public non-traded REIT hits the same fork on the subscription form: take distributions in cash to a bank account, or reinvest them into…
The open-end debt aggregate was up 5.5 percent year to date gross of fees through Q3 2025, against 4 percent for the equity index. Every closed-end bridge fund deck on my desk cit…
Reviewing a JV agreement from the equity side for the first time often turns up an exit section that is only two sentences long. A common formulation reads that the operator shall…
Say a 12 acre parcel goes under contract at 30k with a 30 day inspection period. The sequencing question that follows is whether to open title immediately and pay for it, or wait…
A common misconception when someone first hears about tax sales is that liens sell for the amount of back taxes owed, which is true, and that this makes them a cheap way to buy a…
Putting a number on expected appreciation for a 26 acre parcel in an exurban county produces two answers that do not reconcile. Method one is the county trend. Pull fifteen years…
Take a 35 day diligence window on a 19,000 square foot older retail and service building, two bays, one former dry cleaner space from the 80s that everybody in the chain of title…
For a first small rental purchased mainly for steady income rather than as a second job, there are real arguments on both sides of the voucher question. The case for a voucher ten…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
