every post in the forum, newest first
Say a self-directed IRA is funding a single loan to an investor buying a rental, first position, around 60 percent of value. Licensing requirements for making a mortgage loan turn…
Take an investor with 340k across a traditional IRA and an old profit sharing plan, both movable, and a plan built in three lanes: 40 percent first-position private notes, 40 perc…
The reason absentee owners of rural land sell at steep discounts usually is not that they are bad at math. It is that the parcel produces a bill every year and nothing else: no re…
A cautionary pattern in rural land flipping: 40 acres, half pasture half scrub, in a county where a given parcel might trade only a couple times a decade. A seller says she inheri…
Worth studying: a twelve bed licensed assisted living purchase in a small metro, 1.35M, 30 percent down, bought with the operations as a going concern. Eleven residents at close,…
A syndicator with a track record of closing deals one at a time over several years, working with the same group of roughly thirty investors, eventually runs into a familiar reques…
Three apartment fund PPMs, all describing themselves as value-add, can turn out to mean three very different things. One buys 2019 vintage lease-ups at a discount and does essenti…
Take a preferred equity offering on a 300-unit 2019-vintage asset where the real question is whose value the position is protected against. Structure as presented: a fixed-rate ag…
I'm going to lay this out simply because I understood almost none of it at the time and I suspect other people reading are where I was. A friend I've known 15 years owns a 210-uni…
A common point of confusion on FHA financing for small multifamily is whether the 3.5 percent down applies only to the unit the buyer will occupy. It does not. On a 500,000 dollar…
Take a triplex bought two years earlier at 412k, 3.5 percent down, with the owner occupying the smaller back unit. PITI including mortgage insurance around 3,205. Two rented units…
Consider roughly 400k of long term gain coming off the sale of a minority interest in an operating company, with two funds in front of the investor. One is closing on a current zo…
Take an investor who closed out a seasoned position in late September with a gain of roughly $610k, mostly long term, and a 180 day window running out in the third week of March.…
Worth arguing out rather than guessing at, because both positions have serious operators behind them. One school says decide the exit up front. You write the purchase contract kno…
Two lenders I've been talking to underwrite the same flip completely differently and I can't decide which one I'd rather be. The first caps every loan at 70 percent of after repai…
Consider a 110 key select service hotel near a regional airport, $23M capitalization, $8.1M equity raise. An investor coming in for $400k is often large enough to get a conversati…
Here is a comparison sheet worth breaking. Non traded NAV REIT, quoted distribution rate 5.5 percent on NAV, sponsor's own materials suggesting low single digit NAV appreciation o…
Working through the valuation section of a public non-traded REIT raises a fair question about how much weight the NAV can carry. Monthly NAV, an independent valuation advisor rev…
Consider a 180-unit garden deal where the senior is sized to a 1.20x coverage on its own and the sponsor needs another 4.5 million to close the refi gap, with the old mortgage aro…
Take a content operator running listing packages for agents and small investment shops: 16 posts, 4 short videos, and two listing writeups a month at $1,450. After rebuilding prod…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
