Working through a public non-traded REIT prospectus and the share class mechanics don't reconcile for me. Class T carries a 3.0% upfront selling commission plus a 0.5% dealer mana…
I have 18k sitting from a settlement and the first rental doesn't close for another five months, so I've been reading about public non-traded REITs as a place to put part of it in…
Priced a 700 sq ft detached at $150,000 hard cost, which I was comfortable with. Then the site work came in. Existing 4 inch clay lateral, plumber won't tie a second dwelling into…
Passive position, $150k into a small fund building detached ADUs in a permissive metro and selling them to homeowners as a turnkey product financed by the homeowner. Two year proj…
Five years in with my service business and my office has been a bedroom in this house the whole time. Roughly 12 percent of the square footage, and my accountant has been taking d…
14 months into the current one. 1,100 sq ft bungalow, bought at $228k, about $41k in so far, and the remaining work is exterior and one bathroom. Comps say $340k finished. My wife…
Sitting with a 1978 concrete frame office building, 11 floors, 22,000 sf plates, post-tensioned slabs. Perimeter glazing is continuous strip window, sill at 30 inches, so the dayl…
I want the boring thing that works, and a conversion is not that, but a small one came across my desk and I looked at it seriously for about ten weeks. Single story former bank br…
Story
The whole reason I own two rentals instead of doing anything else with the money is that I don't want a second job. So when the spreadsheet started taking me a Sunday a month I we…
Passed a pre-foreclosure to a buyer I hadn't worked with before. Single family, 1,800 square feet, owner about eleven months behind, and I'd had two long conversations with her. S…
I've been sitting in on vendor demos for the new UAD format, the one in broad production since January with mandatory use coming November 2 this year, and I can't work out which d…
I'm finishing up licensing and I've got two possible directions in front of me, and people I trust are split down the middle. Option one is joining a small advisory shop. Three pe…
Small market deal, 11 units, all in around 640k with the lender covering the rest, so the equity need is roughly 260k. I have interest from enough people to fill it either way, wh…
I'd been billing turnovers at $38 an hour for a property manager with about 90 doors. She liked me fine but I was one of four cleaners she used, and I was getting maybe 3 units a…
I've been reading pref equity summaries for a couple of months and one line keeps stopping me. The pref investor doesn't get a mortgage on the property. You get a membership inter…
Something an inspector said to me stuck. He said a meaningful slice of his work now is second inspections on houses that already failed once, either because the first buyer walked…
Triplex under contract at 585k, small city, all three units occupied, 2 bed each, rents 1,150 / 1,150 / 1,275. My fourth deal and the first one where the report actually scared me…
I've been sitting in on calls with heirs to learn the language, and the same moment keeps coming up. Somebody asks what the house would sell for on the open market, and there's a…
I ran this two ways this month and I can't decide which column I believe. Column one. Distressed three-bed, 110k purchase, 40k rehab, all in around 158k with carry and closing. Re…
I'm about two thirds through the pre-license coursework and I have four vacant houses on a street near me that nobody seems to be doing anything about. Two have notices taped in t…