someone asked, the room worked it out
Say a contractor recorded a lien three months before closing and the seller swore it was paid. The title company issues the policy, the lien waiver never makes it into the file, a…
Most investors assume their buyer's agent needs to know how to find deals, which is true, and how to run a basic cap rate, which is also true, but the skill that separates useful…
Lost offer number three last Tuesday, 340k asking, I came in at 338 with a standard inspection and she said I was protecting the money more than I was trying to get the house, whi…
I own the property free and clear after a payoff last March, so there's no senior lender to work around. The number I keep circling is $61,000. That's roughly what the buyer needs…
My Akron closing is in 19 days and the inspector I hired sent me a 58-page PDF at 9:47 PM with no call, no summary, nothing. I have been reading it for three hours and I am genuin…
That gap is not abstract. If the contract was at 3.1M and the appraisal lands at 2.91M, a 65 percent loan against the appraised value puts the lender at 1.89M. If the original und…
Looking at a deal right now where the distribution schedule says quarterly but the obligation language says "when cash flow permits." Those are different things and the gap betwee…
A 40-acre parcel with a creek running through the back third is a different piece of ground depending on whether the aerial shows the creek relative to the road, the neighboring f…
A deed into an LLC costs a few hundred dollars at closing and resets the liability exposure, but it also means a refinance or sale later runs through entity-level underwriting rat…
I am in a non-traded REIT that holds a mix of suburban office and light industrial, 14 properties, NAV stated at $10.44 as of last quarter. I pulled the most recent annual report…
New Jersey caps the interest rate at 18 percent. Winning bids at a competitive county auction last quarter were coming in around 0.25 percent, which means an LP reading the deck a…
A note I use to think through this: a seller carries 180k at seven percent over fifteen years, roughly 1,617 a month. Two years in, the buyer has never missed a payment. A note bu…
A 25 acre Cabernet block planted in 2008 sits in an awkward middle: the vines are past the replanting decision, the winery relationships are established, but the owner wants liqui…
I've been going back and forth on this. Found a place in Clovis six weeks ago, two-story, peeling fascia, side gate off its hinges, grass completely gone to dirt. Mailed the same…
That number stopped me because the problem is not the list size, it is that 4,200 rows treated identically produces the same result as 400 rows treated identically: noise. The dea…
The K-1 showed the loss. The update talked about occupancy and debt service coverage. Not one LP would have known to connect the two, which means not one LP could have asked wheth…
Most underwriting I see on these properties takes the headline vacancy rate and applies it the same way you would on a standard multifamily, a flat percentage off gross potential…
It's a hotel fund, so office is only about 18 percent of the total portfolio, but the amendment language around the extended hold period is doing something I can't quite parse. Th…
I have a gap loan sitting in Memphis right now, 14 months in, 11.5 percent, borrower is current and I expect payoff around month 18 when he refinances. That duration I planned. Bu…
Six months ago the standard advice was to get your deal in front of 2,000 emails and let volume do the work. That logic assumed the buyers at the top of any serious list were stil…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
