Posting this because most of what I read about opening a shop assumes an office and a roster. Mine has neither. Background: I sell rural land, mostly 10 to 160 acre parcels, and I…
Looking at low price point houses in a county where there's essentially one title and abstract office. Everybody uses them because there is nobody else. Their fee sheet came back…
Numbers first, then tell me what's wrong with them. Note A: 11 percent, 2 points, 6 month term. Note B: 12.5 percent, 1 point, 12 month term. Both $150k, interest only, paid month…
A seller I've been talking with is carrying a $180k note at 9% on a house he just sold. Someone in another conversation told him his yield might be 11%, or might be 6%, depending.…
The house came to me last year, small 2 bed 1 bath in an older part of town, no mortgage on it, nothing to pay off. I had it under contract at 185k and the buyer's lender turned h…
I've been driving a couple of older neighborhoods on weekends and writing down houses that look neglected. Peeling paint, tarps on roofs, mail piled up. About 90 addresses so far.…
Story
Notes and paper have had me confused for weeks, and someone at a local meetup told me to go talk to the guy in the corner because he'd been doing assignments since 2014 and would…
48-lot park, city water on a single master meter, no submeters at the pads. The P&L the broker sent shows water/sewer expense of about $1,900 a month and a separate line called "w…
Third park, first one over 50 lots, and the first one where I ran the transition with my own crew instead of hiring it out. 96 lots, 91 occupied, all tenant-owned homes except fou…
I've held raw land for years and never had a tenant, so the fee mechanics are new to me. A manager quoted me 10 percent and I assumed that meant 10 percent of the $1,700 rent, so…
Five guys work for me in a small service outfit, and I've been paid to fix other people's rentals for years. Now I'm about to own one and I've talked myself into two opposite answ…
Writing this out because everyone told me owner financing was the easy way to sell and I believed them. Background for anyone new like I was. Seller financing means I sold the hou…
I own a small rental free and clear, inherited it, and I'd honestly rather have a monthly check than a pile of cash I have to figure out what to do with. Two people have asked abo…
I've been comparing two structures on the same kind of asset and they produce completely different risks rather than different returns. Structure one is all cash. A 78,000 sf buil…
An operator I met through a local meetup asked me for 110,000 as a second position loan behind a 240,000 first. Interest only at 10%, two year term, one year extension option. Pro…
Running a small service team, so I'm looking at this partly as something I might operate for owners and partly for myself. What I can't work out is the tooling. For nightly rental…
I sold a small timber parcel last fall and have about $140k that isn't doing anything. My default is more land, but I've been reading a ground-up industrial flex deal on one of th…
Two offerings sitting side by side on the same platform, same asset. One is senior debt at 9% fixed, monthly pay, 24 month term. The other is common equity in that building, 15% t…
Two buildings in front of me in a small market three hours from anything institutional. First one: 1985 build, 22 foot clear, four dock doors, 19,000 square feet, one tenant payin…
I've been sitting in on scope walks with two different crews this spring and they price materials risk in opposite directions, which makes it hard for me to tell what normal even…