someone asked, the room worked it out
Structure I'm being pitched. Operator wants 60k from me to cover a seller's equity on a house with a 198k first at 3.4%. I'd take a second deed of trust recorded against the prope…
Something about how this strategy gets discussed does not add up. Filings are up and repossessions are up sharply, and everyone quotes the numbers. Yet the practical experience of…
Scoping a BRRRR now and the scope has already grown from $52k to $70k on paper, which is my usual disease. About $18k of the growth is mechanical: sewer lateral, 200 amp service,…
Proposal in front of me is $1,800 a month for 25 qualified leads. I asked what qualified means and got back "motivated and open to discussing price." That could describe half the…
The two decade figure of roughly 9 percent annualized on the all equity index keeps getting used as the case for owning REITs broadly. The problem with using it as a planning numb…
Look at this from the money side rather than the contract side. A common micro network structure has one member sourcing and another bringing the end buyer, with the spread split…
A colocation lease abstract looks almost nothing like the leases most investors are used to reading. Rent is quoted per kW per month. There is a defined critical load figure that…
Reviewing a hospitality fund allocation. 300m target, five to seven year hold, 2% management fee on committed, 8% pref, 60/40 above with a full catch-up. Sponsor's stated strategy…
Driving for dollars is the task nobody wants to do themselves, which is exactly why there is a service business in driving routes and selling the addresses to local investors. The…
A question that comes up constantly from newer note investors. The pitch is that non-performing second liens can be picked up for a couple thousand dollars each, which sounds like…
I'm mostly on the rental and screening side, so treat me as an outsider here, but I've been helping someone sort a dispo buyer list and the numbers are strange enough that I want…
Consider a 45 space corner surface lot asking $1.1M with trailing NOI around $78,000, about 7.1 percent on the income alone. The site was a branded gas station until 1987. Tanks w…
Take a $240,000 purchase where the buyer's side of the settlement statement carries about $6,300 of items with no obvious home. Loan origination of $2,400. Title and settlement fe…
I've run this spreadsheet three times and the answer changes every time, because I don't know what belongs in the occupancy row. Duplex, one side would be the test unit. Unfurnish…
The Fannie Mae change that lets a borrower count ADU rent toward qualifying income on a one unit house, up to 30 percent, confuses a lot of house hackers. Take a buyer planning a…
Picture an owner winding down a small service business who also owns the building it runs out of and is thinking about carrying paper for the buyer. The accountant calls that an i…
I do fast flips with thin margins and I want to add this as a lead source, but every course I look at wants four figures before I've seen a single address. What's the real cost of…
An investor who does not want to run a building day to day should price management before pricing buildings. Every article says 8 to 10 percent of collected rent. Quote a hypothet…
Working through a deal a mentor sent me so I can see how the bigger end underwrites. 300 units, 2016 vintage, secondary Sun Belt market. Ask is $72m, so $240k a door. The sponsor'…
I've sat through three planning commission meetings in two counties where someone proposed a rooming house or a conversion to rooms. Every applicant led with the affordability cas…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
