Is the 30 day minimum a real shield or just the current soft spot
I hold land and long leases and I move slowly, so what interests me about mid-term is the claim underneath the whole strategy. The pitch is that because most short-term ordinances…
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I hold land and long leases and I move slowly, so what interests me about mid-term is the claim underneath the whole strategy. The pitch is that because most short-term ordinances…
A sponsor I underwrite for had a 96 unit deal that died in early 2024. Land was tied up, plans were 60% done, and the yield on cost was 5.4% against exit cap assumptions in the lo…
I've run a small service business around these houses for five years, and the sentence I hear most from owners at closing is that the license transfers with the property. Then a f…
Every explanation of the 70 percent rule says the same sentence: pay no more than 70 percent of ARV minus repairs. I can do that arithmetic. What I can't figure out is where the b…
Bought at 291 in a metro that ran hot through 2021 and 2022. 1,900 square feet, 2004 build, everything sound. Scope 34k of paint, flooring, fixtures, kitchen counters and applianc…
I model income property all day for other people and I've somehow never owned any of it. Now I'm looking at an 8-unit for myself and the utility structure has me stuck. Building i…
Closed on a 6-unit in April, gain is about $340k after depreciation recapture is carved out separately (my CPA is handling the split, I'm only placing the capital gain portion). T…
The figure I've seen quoted for tenant turnover is about $1,750 on average, cleaning included. I'm trying to break that into lines I can put in a model rather than carry as one lu…
My aunt's estate has a house going to sale and I'm the one handling the paperwork, so the cleanout invoice landed on me. It's $7,900 for a 1,600 square foot ranch with a basement.…
I've been putting $50k a year into LP positions for three years and this is the first time two offerings landed on my desk in the same month with structures I can't compare. Deal…
A sponsor sent me a deck for a 180 unit deal in Huntsville and then asked me to confirm I'm accredited. My W2 income is nowhere near what I've seen quoted, but I own four small mu…
I manage 60 something doors for about 20 owners. One of the owners also wholesales, and last week he asked if I'd forward his contracts to my other owners when he gets one under c…
Sold my starter house last year to free up cash for the investing side. Three agents came through. Two of them said 428 to 442 and walked me through six comps each. The third said…
Bought at $210k, all in at about $298k including the renovation and carry. Full gut, new kitchen, new mechanicals, everything permitted. My agent wants to list at $315k. I want $3…
My work is on the capital side and mostly reading other people's diligence, and off-market keeps coming up as the place the margin lives. Fine. What I want to understand is what t…
I move houses fast, that's the whole business, and this one hasn't moved. 3 bed 1.5 bath, all-in at $186,000, listed at $214,000, 70 days, price cut once. Two showings last week a…
Negotiating an option on a $410,000 house, 36 months. Owner wants the strike set at appraised value at the time I exercise, minus 3 percent. I want a fixed $425,000, which is roug…
This is the first thing I've ever sold and I don't know what staging actually is beyond furniture appearing in photos. The property is a 1970s three bed ranch, about 1,450 square…
Talked to the housing authority about a unit I'm finishing and the sequencing seems designed to put all the risk on me. They won't schedule an inspection until the unit's ready an…
Looking at buying a performing seller-financed note secured by a 6 unit walkup in a mid-size rust belt city. $340k unpaid balance, 8%, 20 year amortization with 14 years left, pay…