every post in the forum, newest first
Comparing two LP offerings acquiring small parks across the same three states can turn up assumptions far enough apart that one of them has to be wrong. Fund A models a 5 year hol…
This one's closed out so I can tell it properly. Eighteen months ago I wanted into manufactured housing and couldn't afford a park. What I could afford was homes. I bought two 199…
An exclusive buyer's agreement can carry language like this in the compensation section: "Buyer agrees compensation is due on any acquisition of real property within the Territory…
Most investor-focused buyer's agents build their model around repeat clients, and treat the fee as a normal cost of doing business across several purchases. That framing doesn't q…
I've been reading both sides of this for a week and I genuinely can't tell which way to go for a first hire. The agency route: they recruit, they've already trained the person on…
A first virtual assignment run 900 miles from the operator, closed at a reduced fee, is a useful case for the real costs involved. Numbers: list and data $340, skip trace $220, di…
Take a 22 acre rural parcel at the edge of a growing metro under contract at 18,000 dollars, standard purchase agreement, and/or assigns, 21 day close, 500 dollar earnest, 10 day…
Consider a land assignment JV where one partner is the money and the other is the work. Say the deal is 22 acres, seller is an out of state owner who inherited it, contract price…
Take a sponsor buying a 96-unit active adult property, ten years old, currently 93 percent occupied, in a second-ring suburb. Agency-style senior debt sits in first position at ro…
I've gone through the books of four operators this year while deciding where to put money, and the split was two and two. Two of them ran everything in a single accounting file wi…
Consider a case where a relocation firm's interest letter got treated as a commitment, and the underwriting followed it. A buyer working toward a first purchase gets far along on…
A sponsor I'd been following for two years opened a $30M value-add fund and had about $8M soft circled for the first close. I asked for the limited partnership agreement and the s…
Take a listing where media went live in two phases, which makes for a useful comparison of how staggered assets affect early listing performance. Media spend was $860 with one pro…
I've been reading gap deals for a few months without funding one, and the two lenders I've talked to sort the world in opposite ways. The first one underwrites the collateral almo…
Business reserve cash sitting past what is needed for payroll gaps sometimes gets pointed at mortgage REITs, where screener yields commonly run 11 to 14 percent against a savings…
I've been screening income names and a handful of mortgage REITs come up with yields between 11% and 15%. Everything else in the REIT list is at 4% or 5%. I read a comment somewhe…
Been going back and forth on this for a couple of weeks and I can't get to a clean answer, so I'll put it up. Small metro, maybe 180,000 people, and an investor client wants motiv…
Here is a scenario worth working through, the kind that shows up after months of building a list. A 1940s two story, 1,640 sq ft, vacant maybe three years. Knob and tube in the ac…
There is real inconsistency in how the term full gut gets used. Some investors call a job a gut when both baths and the kitchen were ripped out and the flooring replaced, even tho…
Consider a syndicator who bought a 12-unit in a small metro in 2022, raised $310,000 from five investors who are personal friends, and has paid quarterly distributions since the s…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
