live deals, numbers on the table
Here is a question that comes up more than people admit. Take a fourplex in a market like Fresno, bought in 2019, refinanced once in 2021, and touched almost nothing since. It cas…
Here is a fund pattern worth working through, because it catches a lot of first time LPs. Eighteen months in, an REO fund has deployed maybe 35 percent of committed capital. The t…
The buy side pencils cleaner on day one because the income is already there, 13,200 a month collected, and my lender will size against that. Build side I'm staring at 18 months of…
I have a former textile mill under LOI right now, 28,000 square feet, Greensboro NC. My hard cost number I feel okay about. What I cannot figure out is the carry. Permitting on ad…
Got a $310k bridge request on a duplex in Raleigh, borrower has been solid for two loans prior, 14 months combined with no issues. Sent my terms at 12.5 percent and he came back w…
Found a property in Dayton, Ohio last month, seller at 74k, end buyer verbal at 96k. Looked like 22k gross before costs. Transactional funding quote came back at 1,840 for a 5-day…
Bought a duplex in Macon County 14 months ago with a 3.5% FHA down. Lender counted the ADU income at 75% of the appraiser's market rent estimate, which came in at $1,040. So the q…
Spent two hours on this today. The sponsor looks fine on paper, March 2023 offering, $50M raise target, office/industrial mix in the Carolinas. Audited financials, yes, but I went…
Say you pull the sold data on seven properties over $3M in one metro for the last 18 months and the average days on market comes back at 214. An operator whose units sit nowhere n…
Take a private lender who is comfortable on real property and knows exactly what a deed and a survey mean when they land on the desk. Now the collateral offered is a tax certifica…
Here is a situation worth working through. A 14 acre parcel goes under contract at 9,200, an assignment is written to an end buyer at 16,500, and the buyer's lender then requires…
Consider identical tile and millwork specs and the same cabinet sub, with the number on a 2.4M project coming in about 22 percent higher than on a 900k job the year before. The co…
Saw a name with a 65% payout ratio and thought it looked conservative, but FFO has been down three quarters straight. So is the ratio even the right number to watch here?
I closed a sub-to in Fresno six weeks ago, 287k existing loan at 3.875, seller wanted out of a property she'd been managing remotely for four years. Deal makes sense, cash flows f…
Specifically the working capital safe harbor. Every QOF data room shows a written plan, but very few show what happens if deployment runs past the 31 month window. Picture an inve…
I pay a photographer per shoot and he hands me finished photos, so I don't touch editing at all. But two of the properties I'm involved in had some pretty rough listing photos bef…
Here is a situation worth working through. An eight unit strip mall, 1.1 million purchase price, sourced off market, with a preliminary title pulled as part of due diligence prep.…
Trying to figure out if this is timing, fees I missed in the PPM, or something else. Fund is a closed-end bridge vehicle, 3-year term, I'm in for $50k. Manager said the gap was "a…
Here is a situation worth working through. Take the T12 from a listing broker on a 14 unit in Akron and rebuild it independently. The buyer's number comes out at 94k NOI against a…
I have a gain sitting in a fund right now, subscribed in March, and the manager keeps saying "Q3 deployment" without giving me anything more specific than that. I get that they ca…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
