I've been reading up on this for six months and this part still won't sit straight in my head. My buyer representation agreement, the one I have to sign before touring anything no…
I shoot my own rehabs for my records. Framing, mechanicals, the ugly parts, then the finished rooms. Nothing fancy, phone plus a cheap gimbal, but I've got a system because I've d…
Sat down with a listing agent about a duplex and she had clearly written her whole property description with AI. It read fine. Better than the last three descriptions I read, hone…
Pitched on a package that's $2,500 a month for SEO with a six month minimum, and they were fairly blunt that paid ads turn off the moment the card stops. I've got a small portfoli…
Reading through a deal package on a small multifamily syndication and there's a line I haven't seen broken out this way before. The sponsor charges a 2 percent acquisition fee, an…
Renovation is my usual lane and I keep getting handed these because nobody else wants them. Current one: seller inherited, holds title alone, house is full floor to ceiling, and h…
I want income that doesn't turn into a second job, and every free video I've watched says wholesaling is how you start with nothing. Lock a house under contract, assign the contra…
Story
I bought a corner lot with a 1954 house on it because I wanted the dirt. Half an acre, three streets away from a plant that keeps getting money spent on it, and my whole plan was…
Ran the arithmetic on three years of my own buy-side spend and the percentage structure looks harder to defend the bigger the deal gets. On a $180k rental, 2.5% is $4,500 and the…
Here's the argument I got into with a guy who's been doing this longer than me, and I've been chewing on it for a week. His position: the tax treatment is part of the return. If y…
I've been building the sponsor side of a small deal on paper to see whether the first one is even reachable, and the pre-close spend is the part I keep getting wrong. What I have…
I've been comparing the two ways I can actually get at this as a passive holder. Listed REITs, where I can read the 10-K, and a non-traded private fund a broker sent me at 1.25% m…
Got a letter, then a call, then a draft option agreement, and I'm out of my depth on the parts that matter. 62 acres, flat, cleared, about a mile and a half from a high voltage tr…
First house I've gotten to the bid stage on after way too long looking. 1,450 square feet, 1978 build, three bed two bath, in a suburb where finished comps run $255k to $272k. Pur…
Story
I left a job in logistics eight months ago to figure out how to do this and I've been collecting stories from anybody who'll talk to me. My old boss found out what I was up to and…
My land holdings produce no income and I'm fine with that, the whole point was appreciation and patience. So when I look at REITs I have to decide what job they're doing in the po…
Two decks landed on my desk this month from the same introduction. One is a sponsor I've watched for about three years, eleven deals, they answer email on a Sunday and their quart…
Two operators I've been talking to model the same gut completely differently and I can't tell which one is actually more conservative. The first one models 150 days of carry as th…
Three cosmetic flips in and I'm trying to step up to a real gut. On the cosmetic jobs 10 percent contingency was plenty, I never used all of it. Put the same 10 percent on a 100k…
I've been underwriting a $4.5M gap on an office to residential conversion for six weeks and the sponsor has offered me two ways in. Either a mezz position at 12.5% current, 1 poin…