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From the desk:Self-Storage (Capital Scale)

Same-store revenue is negative and the distribution hasn't moved

Sixteen facilities, aggregation strategy, I'm four quarters in as an LP. Latest report: Same-store revenue down 1.8% year over year. Physical occupancy 89.4%, was 91.2%. In-place…

31Ttashaford30PB2APRO4Answered9 replies

From the desk:Commercial Wholesaling

Phase I recommends a Phase II. Seller wants an as-is close in 30 days.

Under contract on a 21,000 square foot neighborhood strip center, seven bays, 78 percent leased. Contract 1.44m, in-place NOI about 139k, so a 9.65 in-place. My buyer is at 1.61m…

tonyv88SO4CPRO6Answered3 replies

DiscussionCommercial Wholesaling

Two tangles: how commercial gets valued, and whether I'm allowed to wholesale one

Every spreadsheet I open turns into another spreadsheet, and I'd like to actually get to a first deal. Two things are tangled in my head. First, valuation. On residential I get it…

luis_carrera Get yoursAnswered4 replies

From the desk:Rural Land Flipping

2.1x in 5 months against a 32% premium over 96. My IRR comparison feels rigged.

Underwriting a single parcel and the two exits keep giving me answers that don't compare cleanly. Basis is $19,400 all in on 34 acres of mixed timber and pasture with paved road f…

dpatel_reCS4A1 reply

DiscussionRural Land Flipping

Will anyone insure a bare 10 acres while I hold it?

I frame houses for a living and I've been looking at rural parcels in two counties near me, some as cheap as $8k and some as high as $20k. Two questions keep coming up and nobody…

mitchell_ray4 Get yoursPRO121 reply

LossRaising Capital / Investor Relations

Renovation ran 340k over, and the capital call hit nine people who thought it was fine

Numbers first so nobody has to ask. 14 unit brick walk-up, pre-1940, second tier midwest market, bought for 1.02m with a 700k bridge and 1.35m of LP equity from nine investors. Re…

omar_haddadActivePRO1717 replies

WinRural Land Flipping

The two things that actually break on 31 land notes

I got into this sideways. A guy I know sells rural parcels on installment contracts and was tracking 14 buyers in a spreadsheet with a stack of paper checks in a drawer. I offered…

derekj19SB1B5 replies

DiscussionHome Staging

The payback math on $3,500 of staging feels too easy, so where's my mistake

Working through whether staging earns its keep on a resale and the arithmetic feels too easy, which usually means I've left something out. List price $415,000. Stager quoted $3,50…

30Hhannah_west29 Get yoursAnswered2 replies

From the desk:Home Staging

buying two furniture sets instead of renting, 22k up front against 14,400 a year of rental

Planning four flips next year in a fairly narrow band, 180k to 260k, mostly 1,300 to 1,700 sq ft. Every quote I get for staging lands between 3,200 and 3,900 all in, so call it 14…

devon_pierce Get yoursPRO14Answered2 replies

WinAppraisal

A pair of $2,400 appraisals moved my assessment further than I expected

Land parcel, 68 acres, mostly wooded with about 11 acres of cleared pasture and a gravel access easement. County reassessed it and moved the value up 41 percent in one cycle, whic…

karen_whitfieldPG4APRO7Answered5 replies

DiscussionLand Subdivide and Sell

The absorption math on twelve lots is the part I keep redoing

Tract is 60 acres at about $4,200 an acre, so $252k. Zoning supports 5 acre lots, twelve of them after the road takes its bite. Sold comps for 5 acre pieces within four miles are…

diane_kowalskiPassivePRO14Answered2 replies

WinLand Subdivide and Sell

Split 9 acres into two lots for $47k, and the whole thing was one form

I wanted the version of land investing that has no surprises in it, so I picked the smallest split I could find and did it slowly. 9.1 acres in a county about 40 minutes from a mi…

tylerbrooks9PassivePRO4Answered15 replies

LossCorporate / Furnished Housing

No guaranty on the master lease, then 14 months of paying for empty furniture

Three bedroom townhome, ten minutes from a hospital campus that runs a lot of contract specialists. I leased it from the owner at $1,850 on a 24 month term in early 2023, furnishe…

wendy_park48CapitalPRO1510 replies

WinCrowdfunding (Platform Investor)

Debt-only on platforms netted 8.9 percent. An extension clause nearly ate it.

Closed the loop on the first full cycle of this last month, so here are the actual numbers rather than the plan. $46k deployed across 21 debt positions on three platforms, most of…

sonia_alvarez Get yoursPRO620 replies

WinRV Parks / Campgrounds

Read a campground lease where the tenant owned the bathhouse

Somebody sent me a ground lease on a small campground to look at as practice, and I want to flag one clause for anyone new, because it took me three reads to see why it mattered.…

9Ddmitri_v6CapitalPRO70 replies

DiscussionSeller Financing (As Seller)

How much down before the down payment stops being a real cushion?

I'm walking through the math on selling one of my smaller buildings on my own paper in a year or two, and the down payment is the piece I can't settle. Argument for wanting a big…

22Rrenee_dubois Get yours3 replies

LossOpportunity Zone Investing (Passive Angle)

Exited a QOF interest in year four and paid for it twice

In 2021 I sold a piece of inherited farmland and had a $180k long-term gain. I put the whole thing into a two-asset qualified opportunity fund, ground-up multifamily in a small me…

17Kkevin_lombardPG1BPRO175 replies

DiscussionMortgage Brokerage

Four lenders will all take my call. What is the broker adding on top of that

I'm getting ready to put money into a first rental and I've spent the last month just making phone calls. Two credit unions, a regional bank, and one online lender that does DSCR…

19Sstephen_ok9CO2CPRO412 replies

From the desk:Section 8 / Government-Assisted Housing

Pricing a pre-inspection walkthrough for voucher landlords

A landlord I do turnover cleaning for failed her voucher inspection twice on the same unit. First visit it was a missing outlet cover plate and a loose stair rail. Second visit th…

mikeoconnell7SP2APRO17Answered4 replies

DiscussionSection 8 / Government-Assisted Housing

PHA came back at 1,275 on a unit the payment standard says 1,450

Two-bed unit in a small portfolio, payment standard for the bedroom size is $1,450, market for the same floor plan across the street is around $1,500. I submitted at $1,400 and th…

24Bbrandonlee36PassiveAnswered6 replies

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