12 acres, gently rolling, edge of a small town about 40 minutes from a metro. Bought at $16,500 from an absentee owner, sold on an installment contract at $27,500 with $2,000 down…
I posted here a year and a half ago about modeling a brokerage to death and never opening it. Opened it. Here's what actually happened. Year one, ending last month: 5 agents inclu…
I'm looking at the lending side rather than running a firm, so my interest here is what a brokerage's balance sheet and liabilities look like from the outside. Someone told me a b…
I spent about a year on this forum working out what a first deal actually costs, so here are my real numbers now that six months have gone by. Small brick building on a secondary…
Five month placement in a three bedroom near a medical campus ended in October with nothing booked behind it. The unit sat seven weeks furnished before the next inquiry, and for s…
Reading through this room, the thing that shows up in every failure story is the same. The buyer stops paying and the seller still owes the underlying lender, on time, every month…
Finished the 90 day review on this one last week so the numbers have settled enough to be worth posting. Client is a wholesaling operation, three acquisitions people plus one disp…
Co-invest, $400k, alongside a fund I'd been tracking for two years. Two properties, 466 units total, 1998 and 2001 vintage, one metro, closed spring 2022 at about $205k a door all…
I manage 22 doors for three owners and we shoot every unit that turns. My photographer charges $185 for a standard set, about 25 images, delivered next day. Last year we turned 14…
I'm most of the way through the licensing course and the brokerage I'm interviewing with sent over their vendor sheet. Their photographer does $185 for anything under 2,000 square…
Sponsor's minimum for a side letter was 250k. Individually the four of us were 60k, 75k, 90k, and 85k. Nobody was getting anything but the standard subscription docs and a PDF twi…
I put $60,000 into what I understood to be a limited partner position in a 250 unit apartment deal. It wasn't. The entity I subscribed to was a special purpose vehicle that pooled…
Story
My uncle has four houses he bought between 2008 and 2014, all in one small city, all rented long term. He's not sloppy about money. He's just been doing it the same way since the…
Working through a pref position on a 140 unit 1980s value-add and I keep landing back on the same problem, which is that the position doesn't cover itself out of operations for th…
Reading an amended LLC agreement for a preferred equity piece on a construction deal and one section stopped me. On a "Preferred Return Default", defined as failing to pay the cur…
I've been on this forum saying I'm building a list and not buying. Still true on the buying part. I did just close an option and I think the terms are worth writing down because t…
Story
I've been trying to price out what my first deal actually costs, and a guy I know let me shadow him on a commercial one so I could see the real line items instead of the podcast v…
I'm doing scope pricing for a group buying a 288 unit 1996-vintage property in a Sun Belt submarket where deliveries are dropping off hard after 2026. Two scopes on the table and…
Looking at an LP slice in a 9 MW single-tenant facility in a secondary market. The lease is twelve years with two five-year renewals at market. The power side is a seven-year bloc…
I have 47 acres under contract at $380,000, so about $8,085 an acre, with 60 days of due diligence and 22 of it gone. 620 feet of frontage on a paved county road, gentle slope, on…