one click, then see the split
Two agents in the same market described the same rule to me in opposite terms this week. One called the written agreement before touring the best thing that happened to buyers, be…
I've been pricing two paths to roughly the same 40 site outcome and I don't trust that they're converging. Path one, buy. Small operating parks in the corridor I'm watching trade…
After a round of coffee meetings, it's common to hear every agent describe themselves as investor-friendly before being asked, and just as common to then receive owner-occupant li…
Furnishing budgets for a three bedroom short-term rental tend to split into two camps. The $8k version leans on warehouse stores and marketplace finds. Solid beds, decent mattress…
A fund pitch built around REIT caution on mezzanine debt is worth pressure testing. The argument usually runs that REIT qualification rules explicitly permit interests in mortgage…
Mezzanine debt has been on my mind for a few weeks and I want to test something with people who actually do it. What I understand so far. Mezz sits between the first mortgage and…
Consider a small note and lending position run out of a self-directed account for a few years, where a borrower needing a partial release on a Friday runs into a custodian's four…
I've been building this thing sideways for a year and I'm now at the point where the next six months picks one shape. Current mix is nine solos paying $380 to $520 a month for a l…
Small markets where houses trade in the low six figures, with half the commercial stock a single story block building on a state highway, are the kind of place the rural side of t…
A sponsor's reserve policy calling for three months of debt service plus a lender's FF&E escrow at 4% of gross reads thin next to what a deeper reserve would cost. Run the arithme…
Building out management services for this size range, five to twenty units, keeps raising the same fee structure question from both sides of the table. The two common shapes are a…
Third flip in a row where the media schedule and the punch list have argued with each other and the punch list lost. My pattern has been to book the shoot for Thursday morning so…
Two funds I've been reading take opposite positions on the same page of their material and both call it risk management. The first has around 140 loans across eleven states and sa…
This question stalls a lot of people weighing rural land on terms, and it deserves a straight look. The pitch is that you get a markup plus interest, so a one time flip turns into…
I'm building a written allocation for the first time and I've hit a question I can't reason my way out of. If I count the REIT sleeve as real estate, then between the sleeve and t…
Someone reached out about doing property data collection for hybrid reports. I go out, measure, photograph to a standard, upload it, and a licensed appraiser I never meet writes t…
Two self storage sponsors can pursue the same defensive thesis from opposite ends, and it's worth laying out both approaches side by side. A development-focused fund buys land in…
Working through a five-year hold on a repositioning, upper-midscale, 160 keys, secondary market with one anchor demand driver. The sponsor's base case has RevPAR growing every yea…
Finishing a full gut on a three bed in an older neighborhood and I'm arguing with myself about spending $500 before it goes on the market. The case for ordering one: my comps are…
Take a $540k fourplex, three 2/1s and one 1/1, with market rents on the three rented units totaling about $4,050 combined at current lease comps. One path is FHA at 3.5 percent do…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
