someone asked, the room worked it out
I've been sitting down with owners to figure out where a service business could actually be useful, and parking keeps producing the same complaint. One owner with two garages, bot…
Diligencing a first-time value-add multifamily fund. Terms are 2% on committed capital during a three-year investment period, stepping to 1.5% on invested capital after, 8% pref,…
A common pitch at local meetups: a sponsor group doing office to apartment conversions offers a $50k LP unit. The terms are an 8 percent pref with a 70/30 split after that and a t…
Every wholesaling video says the wholesaler sells their equitable interest rather than the property, and almost none of them explain what that is. If the wholesaler never takes ti…
A line item startup budget for a six room boarding house is worth pressure testing before any offer goes in. Take an existing single family in a jurisdiction that lists rooming ho…
Building out a list of who I'd need if I actually start buying, and I've got two names for what looks like one job. The title company has a closer who handles the settlement state…
For anyone focused on small rural markets, the line in the new law about extra benefits for rural zones deserves attention. The version repeated at investor meetups is that rural…
I've been reading two sponsors' updates side by side while I work out what I'd be signing up to owe investors on a first deal. One sends about 300 words every month. Most months a…
I've been asking managers what they pay for software and getting numbers between $2 a unit and $12 a unit with no explanation of what's in either one. One of them told me the AI l…
Say an owner wants better marketing on a vacant two bedroom that is being re-listed, and the agent says get a virtual tour. Two vendors come back at $145 and $340, and both invoic…
A buyer who deals with commercial package policies in a business context will not blink when an insurance agent quotes a package policy on a fourplex. Then the loan officer says s…
Take a small pool of nine non-performing firsts, average UPB 118k, average as-is value about 141k, all in judicial states, with the seller asking 62 percent of UPB. A typical mode…
Trying to get the refinance done on a single family I've been rehabbing. The lender ran it and told me the debt service coverage ratio is 1.08 and their minimum on this product is…
The offering document for a typical pref tranche says accredited investors only. A claim that circulates in other forums is that preferred equity is debt like, so it is not really…
Every institutional apartment piece I read says the same thing, which is that vacancy has peaked around 8.5% and values sit 20 to 30% under the 2022 high, so this is the moment fo…
Bidding at a county trustee sale next month and I'm trying to stress test my title work before I put cash down. My understanding is that the foreclosing lien wipes junior liens, s…
Career changer, zero deals, reading everything. Every write-up about full guts says the same thing, that you need established contractor relationships. Fine. But I don't have any,…
A property manager I met through my licensing course said she'd send me turnover cleans if I could also haul out whatever tenants leave behind. I've got a half ton pickup and a 5x…
Take a wholesaler keeping 9 to 11 files open at once, mostly assignments with a few double closes, paying a coordinator $500 a file. She is good. She is also, over time, doing thi…
The live-in flip keeps coming back for people who are patient and short on capital, and the first practical question is what an owner occupant is legally allowed to touch. The cla…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
