one click, then see the split
Been building the cost sheet for a first rental and the line that keeps breaking it is a $7,000 sourcing fee. My actual closing costs on a $150k house pencil around $4,200 in my m…
Reading through material on lien funds and the phrase that keeps appearing is government-backed. I've read it maybe a dozen times this week and I still can't tell what it covers.…
I own nine doors, five of them on vouchers, and all five sit inside a single authority's jurisdiction. That was accidental at first and then it started to look like a feature. One…
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…
Bird dogging tends to get framed as the thing done for six months before wholesaling or buying starts, an internship people assign themselves. But some operators run it as an ongo…
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…
Read enough SFR pro formas and the same pattern shows up in nearly all of them. Rent grows 3 percent a year, expenses grow 2 percent, and by year five the model produces a number…
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…
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…
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…
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…
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…
Standing rule in most of the training I've read is that you never reference how you found the owner and you never put their foreclosure in the first line. Lead with help, let them…
I've been sitting in on pricing conversations at two shops in the same metro, similar door counts, and they've gone opposite directions on the same math. Shop A charges 10.5% of c…
Take a live-in-then-rent buyer at month 11 in the current house, deciding between two orders of operations, with lenders giving conflicting guidance on which one helps. Order A: f…
I've got a build decision to make and it changes what I spend the next year on. Option one is depth. Two states, learn them properly, one attorney per state on retainer, contract…
One for every strategy in the guide. Each has its own discussion, live deals, outcomes and polls.
