Almost $12k of paper before a single stud gets bought
Getting quotes on the paper stage for a detached unit behind a house I already own and the soft costs are stacking up faster than I expected. Feasibility and zoning review $2,500.…
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Getting quotes on the paper stage for a detached unit behind a house I already own and the soft costs are stacking up faster than I expected. Feasibility and zoning review $2,500.…
Two adjacent infill lots in a first-ring suburb, bought in 2021 at $71k and $78k. The thesis was that the state was moving on ADU-enabling legislation and the city would follow, a…
I run property management, so operators call me when a luxury flip stops selling and starts costing. The question they ask is whether to put someone in the house while it waits fo…
The elimination of tax on appreciation for holds of at least ten years is the reason most people are in these deals at all, and now that the program is permanent the ten year wind…
The rental side is where my money sits, and I want a piece of the portfolio that doesn't care what house prices do. Certificates look like the closest thing to that. Here's the mo…
This is a deed state, sale is a public auction of the property itself, opening bid is the delinquent taxes plus costs at $9,340. House is 1,180 square feet, single story, frame, b…
Closed this out last month, still annoyed, so writing it down while the invoices are open. The deal: 3/2 ranch, 1,410 sf, bought at 168k off a wholesaler, 61k in renovation, all-i…
A broker sent me a 60-unit building he's calling independent living. The rent roll reads like apartments, $1,650 average, tenants sign a normal-looking lease, and there's a room w…
Been doing service calls in an age-restricted community for about two years. The developer kept back six detached cottages as rentals and is selling four of them off. He offered m…
I read the NCREIF timberland volatility figure three times before it bothered me. Around 6.9 percent standard deviation against roughly 16 for public equities, and the properties…
There is one certified residential appraiser covering my county and two adjoining ones. He's 63. Turn times on lender orders here run 3 to 4 weeks in season and I've had two deals…
Two commitments due by the end of the quarter and I've only got $400,000 to split. Fund A, residential bridge, first lien. Coupons 10.5 to 11.5, average loan $480,000, roughly 900…
Running the numbers on an open-end debt fund and I can't make the arithmetic close. Their book is 61 loans, weighted average coupon 8.9%, weighted average LTV 64%, all first mortg…
Two years in on a 10 room licensed house I took over with residents already in place. The number I actually track is average tenancy measured at move-out, and it went from 7 month…
I've asked a lot of embarrassing questions in this room and here's what came out of it. I had 9,000 to put somewhere and no idea what I was doing. I spent most of last year readin…
Still working out which strategy actually suits me and I'm suspicious of my own reasons for liking this one. The appeal is obvious: short project, no structural work, you see the…
Looking at funding short term paper on light rehabs and the draw mechanics don't map. On a full gut you have framing, rough mechanical, drywall, and each one is a visible mileston…
Two plain questions I can't get a straight answer to anywhere. First, does wholesaling luxury need a real estate license? I've seen people say absolutely not because you're sellin…
I was there to quote a full re-pipe. Copper, pinhole leaks in three places, house is about 25 years old and nobody has touched it since. Big house, five baths, pool, decent street…
What I usually do with a prospective buyer's agent is hand them a live listing and say tell me what you'd offer and how you got there. If they come back with rent comps I can trac…