every post in the forum, newest first
Land banking produces no income, so the property tax bill has to come from somewhere else every year for the length of the hold, and there are a few common approaches to funding t…
Take a pre-foreclosure purchase in a state with an unfamiliar equity purchase statute. An owner about six weeks from a trustee sale, payoff around $214k with $11k of arrears, agre…
Independent living lite properties sit right at a licensing boundary that moves state to state, so services have to be scoped carefully: light housekeeping every other week, a sch…
I've been looking at hold-and-wait plays and this came in from an agent who knows I'm patient: a 1,900 sf brick ranch, four bedrooms, priced about $60k under the comps, described…
Two houses under contract review, one of them has to go. House A: 3,200 sq ft, 4 bed 3 bath, single story, 0.4 acre. Asking 465k. Layout gets me 6 residents in 5 rooms if I conver…
Take a borrower bringing 300 acres, appraised at 1.6 million, with the appraiser splitting it into 900k of land and 700k of standing timber. The underwriting question worth workin…
Take a stabilized 140-unit facility in a secondary market where nothing new has broken ground in years. A typical mix might run 110 drive-up non-climate units and 30 climate-contr…
22 acres on the edge of a growing suburb, contract at $1.45M, contingent on rezoning from a two acre minimum residential district to something that would carry 74 lots. Fourteen m…
Worth laying out as a case, because the arithmetic is clean. A four unit turn in a small multifamily building, all four vacant at once after a roof job pushed everyone out on sche…
Sitting with a proposal I'm about to sign as the buyer, and the structure is bothering me more than the price. It's $1,900 a month for a mid size agent team and the deliverables a…
I've toured four age-restricted rental communities in the last month, which for someone who was selling insurance a year ago is a lot of clubhouses. Two of them were amenity heavy…
I want something to show an investor by the end of next month and I've got about $300 and four free weekends. Two ways to spend it and I keep flipping. Option one is data. A list…
Take a 340 page conversion fund package: a private placement memorandum long on risk factors written to protect the sponsor, a limited partnership agreement with the economics but…
Consider an owner holding 9 acres behind an existing small building, picked up years ago as part of a larger site and left in grass since. Planning tells them up to 4 lots goes th…
Take a partially built 138 lot subdivision in a metro suburb where the original developer stalled and a bank took the asset back. Phase 1, 60 lots, is recorded with roads, water,…
Two scopes for the same 1950s three-bed came across my desk this week, both written by the same investor, and I've been staring at them for days. Scope A is 38k. Kitchen, bath, fl…
A pattern worth flagging: a portfolio memo prices 14 facilities at a blended cap and then, on page 31, asserts a 75 basis point compression on exit reflecting portfolio scale. No…
I've read management agreements on five apartment deals in the last two years as a passive investor, and the base fee is almost never the interesting part. Everybody's at 2.5% to…
I have $200k I'm ready to place and two funds in front of me. I've never been in a fund before, only two small LP positions in single-property deals. Fund A: $75M value-add multif…
Take a first-time debt fund from a shop with an established equity track record. Loans are bridge, first position, quoted at SOFR plus 450 to 500 with floors, so roughly 10 to 10.…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
