someone asked, the room worked it out
A 180 acre loblolly tract at age 22 illustrates this cleanly. Say the land appraised at 1,400 per acre at purchase, so 252,000 for the dirt. The timber cruise at entry showed 3.1…
Say you log a boarded Victorian because the siding is half gone and the yard is waist-high weeds. The owner of that property may be unreachable, in probate, or simply not ready. B…
Twelve months ago I was looking at numbers closer to 75 and the gap between what made sense to buy and what the seller expected was workable. Now I am seeing 85, 87, 88, and in on…
A draw procedure that works protects both sides, so it is worth spelling out exactly how the mechanics should run before the first dollar moves. The typical structure starts with…
Schedule B-II is where the story lives. Exceptions from coverage are not boilerplate, they are a list of things the insurer refuses to stand behind, and most buyers treat them as…
A vacant unit sits at the intersection of several different timelines: the outgoing tenant's last day, the cleaning crew's availability, any repairs that only become visible after…
Four addresses on a stretch of Tuscarawas Street in Canton that I have driven past six times since February. Each time I add them to my sheet with a note like "roof bad, window on…
Most PPMs I read say the LP preferred return accrues from the date capital is funded. That sounds clean until you look at a deal where equity sits in escrow for six weeks before t…
The answer I keep landing on is whoever can be replaced first. If the seller will talk to anyone who calls with the right price, the seller-side partner is more exposed than they…
Asking because I am trying to figure out what to expect on a duplex in Garfield Heights, probably a two bedroom over two bedroom situation, and I genuinely do not know if vendors…
Six months into mailing a 40 mile loop around Warner Robins and Monroe and I have sent 407 pieces total, hand-addressed envelopes on the first two batches, yellow letter format, a…
Mine wants a signed purchase agreement from the end buyer before they'll even send me a term sheet, which puts me in a position of needing the buyer locked before I know what the…
A case worth studying for anyone running luxury assignments where the earnest money conversation happens late. The estate was priced at 2.4M, seller accepted 1.85M, and the assign…
I have about $14,000 sitting in a HYSA right now earning 4.6 percent on a targeted $28,000 down for a duplex in Columbus or maybe Zanesville or Lancaster where the price points ar…
I'm looking at getting back into another Texas multifamily deal, this time as preferred equity rather than LP. The sponsor is offering 8 percent preferred with a 2x equity multipl…
Put 180k of capital gains into a QOF back in late 2019. The step-up benefit at five years was supposed to apply to 10 percent of the deferred gain, so roughly 18k excluded from ta…
A deal worth studying: a six-story 1958 office building, 42,000 square feet, acquired at $31 a foot with a conversion plan targeting 38 one-bedroom units. The hard cost budget cam…
There is a case worth examining here. Say a bird dog delivers 18 leads over six months, all within a two-mile radius of one submarket. The investor closes on two. At that point th…
A detached 480 square foot cottage, built for $210,000 all in, appraised at $137,000 on completion. On paper that looks like a destruction of equity. But the owner had purchased t…
I'm on the buying side so maybe I see this differently. The flipper I lend to privately has sent me a couple of leads through a loose arrangement we have, and two of them were lis…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
