it finished, here is how it went
This closed out last month so I can finally write it up. Early 2023 I put $50k into a single-asset deal, a 1970s eight story office building in a mid-size southeast downtown, goin…
I've been working through the pre-licensing hours and doing some scouting on the side to have something going on. Found a duplex with a boarded window and a code violation posted,…
Checkbook IRA structure, single member LLC owned by the IRA, me as non-compensated manager. Held two performing seconds and a small unleveraged participation in a rented duplex th…
A 96-unit value-add deal in a southeast secondary market, $150k in for 4.1% of the LP class. I did what I tell everyone to do and sent the PPM, the LP agreement and the subscripti…
Signed an exclusive right to represent in January. Six months, area described as "the metro area and surrounding counties," 2% of purchase price. I read it, understood the words,…
An operator without capital to raise and without a deal in hand can still benefit from writing the page they would send an investor if they found something. Purchase price, rehab,…
This one is worth laying out in full because it shows what actually scares people on a subject to deal and how each scare gets handled. The property. A 1974 fourplex, four twos, t…
A common mistake in a first LP position is deciding to invest before reading the documents rather than after. Take a small industrial deal with a $35k commitment. Printing the who…
A useful cautionary case on blanket refinances: an owner of five single family rentals, four owned free and clear and one with a small note, combined value around $1.09 million, s…
A case worth studying for anyone holding a dark bay. Take a former furniture showroom sitting dark in an 18,400 sf six-bay strip. Fourteen months vacant at $14 psf NNN asking, thr…
Take a 285k first position note against a 31 site RV park, sized at 62% of appraised value, 24 month term, monthly interest only. Structures like this are common and often perform…
$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…
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…
A defensive-looking storage fund structure often reads like this: eight facilities, all stabilized, no development, no bridge debt, agency-style fixed paper at reasonable coverage…
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…
Take a 2019 vintage, $60M value-add fund with 11 deals and a $150k limited partner commitment, final distribution landing at the 6.5 year mark. A realized deal-level gross multipl…
Here is a case worth studying because the mistake in it is common and the fix is cheap. Take a 4 unit bought in October, closed at 462k. The agent marketed himself to investors an…
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…
Take a side by side duplex, both units two bed one bath, built in the fifties, under contract at 342k. The appraisal comes back at 331k, an 11k gap that takes a moment to fully re…
Take a $150k LP check into a recapitalization of a 52-unit assisted living community in a secondary market, sponsor with two comparable properties, real operating history, decent…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
