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From the desk:Land Subdivide and Sell

There are four lots on paper and I still can't price the two in the back

Seller wants $159,600 for 38 acres, which is $4,200 an acre. It's been listed a while, mostly wooded, one long side on a paved county road. What I think I have. Sold comps in the…

karen_whitfieldPG4APRO7Answered8 replies

DiscussionShort-Term Rentals / Airbnb

Why is co-hosting always 20 percent?

Looking at a small cabin about two hours from me and I can't get my head around the management side. Everyone in the comments of everything I read says get a co-host, they take 20…

megan_doyle15 Get yoursAnswered4 replies

LossShort-Term Rentals / Airbnb

Closed three weeks after the grandfathering deadline. The model was gone.

Rural lake town, population under 3,000, the kind of place I like because the price points are low enough that a mistake doesn't end you. This one nearly did anyway. The property:…

24Llaurenkim53PassiveAnswered1 reply

From the desk:Self-Directed IRA (Real Estate)

The UDFI question is deciding SDIRA versus Solo 401(k) for me

Old employer 401(k) with $310k in it. I have a side consulting income, real 1099 money, about $40k last year and probably similar this year. Three rentals held personally already,…

samantha_ruizAU4APRO5Answered11 replies

DiscussionSelf-Directed IRA (Real Estate)

Does a Solo 401(k) actually solve the UBIT problem on a leveraged IRA rental?

Working through a structure question. Say the IRA buys a $300,000 four-plex with $200,000 of IRA cash and a $100,000 non-recourse loan, so the debt-financed percentage starts near…

chriswalton8CC1CPRO15Answered2 replies

DiscussionJV Capital Provider

Operator co-invest or operator track record, which one carries more weight when you can only really verify one

Two operators approached me in the same month and I can't have both, so I've been sitting with what actually separates them. Operator A wants to put in 15% of the equity out of hi…

15Sstephen_ok9CO2CPRO42 replies

DiscussionLand Banking (Buy and Hold)

Inside the urban service boundary at $9,700 an acre, or four miles past it at $2,900

Two files sitting open on the same county. 18 acres inside the designated urban service area, sewer stubbed to within half a mile, asking $9,700 an acre. 40 acres about four miles…

devon_pierce Get yoursPRO1412 replies

WinLive-In-Then-Rent

Paperwork is the one part I got right on my first conversion

I closed on a 3 bed 2 bath in a decent school zone two Aprils ago, 5 percent down conventional as an owner occupant. Purchase was 312,000, so 15,600 down and 7,100 in closing cost…

14Ddmitri_v6CapitalPRO716 replies

DiscussionLive-In-Then-Rent

Sequencing four acquisitions when property two is the one that breaks DTI, not property three

Running the ladder out on paper and the failure point isn't where I expected. Property one: 340k, 3.5 percent down FHA, PITI plus MIP at 2,650. Market rent 2,450. Property two tar…

dpatel_reCS4A0 replies

DiscussionLand Development / Subdivisions

Rolling takedowns on a 62-lot deal, how are you pricing lots three years out?

Deal in front of me: 62 lots in two phases, raw land at about $1.9M, engineer's estimate on improvements around $55k a lot all in, finished lots underwritten at $105k. A regional…

nicole_adeyemiPassivePRO147 replies

From the desk:Land Development / Subdivisions

Seller wants an answer Friday and I have no idea what entitlement costs

A broker sent me an 11 acre piece on the edge of a town of about 40,000. Currently zoned agricultural, the comprehensive plan shows it as low density residential, and there's a se…

luis_carrera Get yoursAnswered4 replies

From the desk:Corporate / Furnished Housing

Unit 4 goes vacant in March. Pricing it furnished for corporate.

Two bedroom, 900 square feet, second floor of a four unit I've owned since 2019. Tenant gave notice, moving out end of February. Unfurnished it rents for $1,500 and I have never h…

9Bbrandonlee36Passive10 replies

DiscussionCorporate / Furnished Housing

Is corporate housing just a furnished rental with a fancier name?

A property manager in the county seat here told me she keeps two furnished units for the hospital's traveling nurses and the utility company's line crews, and she called it corpor…

15Llaurenkim53Passive2 replies

Story

A two dollar outlet cover cost my client six weeks

We do make-readies, mostly paint and floors, and last spring a guy hired us to turn a downstairs unit in a little duplex he'd just bought. He'd decided to rent it to a voucher ten…

monica_tran3SF4CPRO115 replies

From the desk:Boarding Houses

Owner wants me at 8% on a 14 room boarding house. My hours say loss.

Owner of a 14 room boarding house asked me to take over management from the guy who's been running it eleven years and is retiring in September. I've got the draft agreement on my…

tonyv88SO4CPRO6Answered30 replies

DiscussionBoarding Houses

If I start serving meals, am I still a rooming house?

I own a corner lot with an old four-square that's zoned for a rooming house by right, which is rare enough that I want to use it properly. Twelve hundred square feet of first floo…

diane_kowalskiPassivePRO14Answered2 replies

From the desk:Real Estate Agent (Buyer's Agent)

My loan officer and the agency guidance disagree about the concession cap

Contract price 425,000. My rep agreement says 2.5%, so 10,625 to my broker. Seller signed off on 3% in seller-paid costs, 12,750, and I was planning to run the commission through…

raj_mehta14CapitalPRO13Answered7 replies

DiscussionReal Estate Agent (Buyer's Agent)

Do I have to sign something before an agent will show me a house now?

I'm slow about this stuff so please bear with me. I went to an open house and the agent there asked if I had representation, and when I said no she said she couldn't take me to se…

ehernandez74PO2BPRO7Answered5 replies

LossDouble Close Wholesaling

Lost my earnest money because I assumed the end buyer's cash could pay for both closings

I had a small three bedroom under contract at 91k and a buyer lined up at 118k. I picked a double close over an assignment because 27k looked like a number that would make my buye…

17Ttashaford30PB2APRO4Answered30 replies

DiscussionHome Inspection

Two guys on my team, one talks the whole way through, the other barely speaks until the report

I run three inspectors. Purchase inspections mostly, a few pre-listing walks. One of them narrates the entire thing. Buyers follow him around, he explains the panel, he explains w…

angela_burkeServicePRO1212 replies

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