someone asked, the room worked it out
I'm reading the paperwork on a licensed 6-bed home before I get too far in. The residents sign a "residency agreement," 30 days termination either side, and there's a separate rat…
A builder starting to look at the sell side, wanting to understand who the houses get handed to, gets a sample listing agreement from an agent. It says "exclusive right to sell" a…
A situation that comes up often at small brokerages. A seller has a property listed with a four agent firm. A buyer walks in off a sign call and one of the other agents wants to w…
Consider a lender's file. The borrower wants 140k on a 200k ARV with 30k of rehab, and the purchase agreement is with an estate. The decedent's daughter signed as the person handl…
I've been reading through announced office-to-residential projects and the ones that actually reached a closing almost all have some conversion-specific tax program, an abatement,…
A deck for a 180 unit deal reads "8% preferred return, then 70/30 split." The common reading, usually from people who own bonds, is that the pref works like a coupon, 8 percent a…
Here is a structure worth working through. A building with 4,000 sf of ground floor retail and twelve apartments above gets condominiumized into two units, a commercial condo and…
Take a 112 key select service property where the P&L looks clean until the segmentation report. Two crew contracts, both energy sector, account for 41 percent of room nights at a…
Work through a 180 unit garden style deal, roughly 42 million total cost, 68 percent LTC construction debt, 24 month build plus 12 to stabilize. Trended rents are the whole ballga…
An owner I've been talking with has a 42,000 rentable square foot facility, about 310 units, grossing roughly $560k. He's decided he wants out of the day-to-day and asked me to re…
A pattern that shows up on rural loan files. The marketing package includes aerial video and the broker treats it as part of the value story. The appraisal comes back with no refe…
Detached 780 sq ft, permitted, separately metered, own address, currently leased at $1,850. All in around $190,000 including the site work. Went for a cash-out refinance and the a…
Here is a situation that changes the math on a plat more than most first-time subdividers expect. The city wants a performance guarantee for the public improvements before it will…
There's a house two streets over from my first rental listed at $130k that needs new roof, kitchen, and floors. My agent thinks $30k of work and says it would appraise around $200…
A scenario that comes up often with owner-users. An operator is selling the shop building the business runs out of and leasing something cheaper across town. The building is free…
Here is a failure worth studying. Say a land seller pays a content contractor $250 per parcel for a 45 second drone reel, a set of captions and the long description. The package c…
I've been mapping vendors around this strategy because the service side is what interests me. Lead lists, skip tracing, contractor marketplaces, punch list apps, draw tracking. Al…
Scope creep, my own fault. The cabin was a 3/2 sleeping 8. During the reno I framed out a basement room with an egress window, so it's now a legitimate 4th bedroom on the plans, a…
Work through a rural interstate exit hotel: 78 keys, seller wants $2.1M, which is about $27k a key. Trailing RevPAR $47, occupancy in the high 50s. A 1998 build with six years lef…
Take a one page co-hosting agreement on a lake cabin that says the fee is 20% of gross booking revenue. That is the whole definition. Say the cabin does about $200 a night and boo…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
