I don't move fast on anything, so I did this in the order that felt safest. I asked one buyer what he wanted before I looked at a single house. He's a local guy with maybe 30 rent…
I do the work myself, mostly, which is why the numbers on these looked good to me in the first place. Framing, tile, trim, drywall if I have to. I sub out the panel and the HVAC.…
I care more about documents than properties, and on my first BRRRR that turned out to be the useful trait. Small two bed house, bought at 96k, rehab budget 34k. Before I signed an…
I've had 15 acres on a county road since 2016. Taxes are $310 a year, I do nothing to it, I drive out twice a year to walk the lines. The 5 acres behind me is landlocked. No road…
I've read four value-add memos in the last six weeks and the structure of the rent assumption is the same in all of them. Year one flat to slightly negative, concessions burning o…
Running a small service business means my capital shows up in irregular lumps, and I've got one now that I don't want in the market. Two things in front of me. First, roughly 300…
I've got two small buildings, 11 units total, and 8 of them will turn over the next 14 months as leases roll. These are consistent turns: paint, LVP, one bath refresh, roughly $9,…
First rental is close and I've read more about screening than about anything else, so of course I have a version of this question nobody I ask can agree on. The standard long-term…
The coupon on this fund was 10.25 percent net. I put 35k in because of one loan on the tape, and that loan is the reason I'm writing this. The fund is residential and small commer…
There's a 1950s three bedroom on my walking route that I'd been looking at for about twenty months. Gutter hanging off the back corner, mail wedged in the slot so hard the flap wo…
First property. Side by side duplex, 289,000, closing in three weeks. Unit A is vacant and freshly painted, unit B has a tenant who's been there nine years. Here's what I know abo…
The pitch I keep running into is that multiple units means one vacancy doesn't wipe out your income, and that sounds obviously true. But three houses on three streets seems more s…
I'm comparing published fee schedules and they aren't comparable at all. One is a flat 300 a year per asset with a 50 setup. One is 0.25 percent of account value with a 1,500 cap.…
Six months of no deals, but I've finally got a real decision instead of a spreadsheet. Roth self-directed IRA, 168k. A value-add fund I've been tracking is open for another five w…
I spend most of my time on the service side of real estate, so the acquisition part is new to me and this is the piece I can't picture. Everybody explains how to get a parcel unde…
This one started as a parcel I wanted to keep. 40 acres, mixed hardwood and about 11 acres of old pasture, two years of delinquent taxes at roughly 4,100 including interest, selle…
I've got both a traditional rollover and a Roth sitting at the same custodian, and I have to pick which one funds the real estate side. The money is the same money. The wrapper is…
I've been reading through purchase agreements from three different probate buyers and they split cleanly on one point. Two of them get a contract signed by the heirs early, weeks…
This is the argument I have most often with clients after five years of running a service business, and it never comes up until the build is nearly done. I can put the CRM, the ph…
Story
A tenant moved out of a two bedroom in my six unit in March. Clean move out, she got most of her deposit back, and I wrote the check without thinking about it. Then the state dead…