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LossHard Money / Private Lending

Lent a flipper $40k and never recorded anything against the house

This was two and a half years ago, before I'd read anything useful. A guy I'd known for a while, done two flips, seemed competent, was short on the rehab money for a third. He nee…

devon_pierce Get yoursPRO14Answered6 replies

DiscussionHard Money / Private Lending

The loan only pencils on the borrower's ARV, not mine

Rehab deal in front of me. Purchase 240k, rehab budget 85k, so all-in cost 325k. Borrower's ARV is 430k off three comps, two of which are on a street with newer builds and bigger…

dpatel_reCS4AAnswered2 replies

From the desk:Timberland / Vineyards / Orchards

Year one costs on a 60 acre timber parcel, plus the line I think I'm missing

First land purchase, so please poke holes. 60 acres, mixed pine and hardwood, asking 145,000, so about 2,400 an acre. Seller is an estate and there's no rush on their side. Here's…

aliyah_bAU2APRO916 replies

DiscussionTimberland / Vineyards / Orchards

Almond block, 320 acres, water district cut allocation to 40 percent. Do I underwrite the trees or the well?

Sitting on an offering for a mature almond block, roughly 320 planted acres, trees around year 11 of a stated 22 to 25 year productive life. Seller pro forma runs on full surface…

31Llaurenkim53Passive0 replies

DiscussionDriving for Dollars

Can my techs log addresses while they're already on route?

My guys are in neighborhoods all day anyway for service calls. It seems obviously wasteful that they drive past twenty rough looking houses a day and nobody writes anything down.…

angela_burkeServicePRO122 replies

DiscussionDriving for Dollars

After you log an address, is knocking ever the right first contact?

Slow decisions are my whole personality so I've been sitting on 60 addresses for two months without contacting anyone, which is its own answer. Before I do something, I want to he…

ehernandez74PO2BPRO75 replies

DiscussionVirtual Assistant Agency

Do you make the VA work your hours or theirs?

Nearly signed for a seat and then realized I hadn't thought about the clock at all. The agency offers either overlap with my business day, which for their side is overnight, or th…

tylerbrooks9PassivePRO42 replies

LossEducation / Coaching

Built an entitlement course over nine months, six sales, no student result

Finished and buried this one, so here are the numbers. I built a course on taking raw parcels through rezoning and preliminary plat in secondary markets. 14 modules, real submitta…

nicole_adeyemiPassivePRO147 replies

WinLive-In-Then-Rent

The occupancy rider is what saved the timing on my fourth conversion

I closed on house number four in March and the rental lease on number three started April 1, so the sequence held for another year. Posting the actual numbers because the version…

wendy_park48CapitalPRO15Answered18 replies

DiscussionLive-In-Then-Rent

What does converting to a rental actually change about the loan I already have?

I look at loans from the lending side rather than owning, so I understand the origination math better than the aftermath, and I want to fill that gap. Say someone buys with 5 perc…

sonia_alvarez Get yoursPRO6Answered3 replies

DiscussionBuyer's Agent (Investor-Focused)

What do the dues actually run before I earn a single commission?

I've been buying and holding raw land on my own and a couple of people I know keep asking me to look at parcels for them. Rather than doing it for free I'm thinking about getting…

diane_kowalskiPassivePRO14Answered9 replies

LossBuyer's Agent (Investor-Focused)

Four months, 10k of retainers, nothing closed

Structure was a 2,500 monthly retainer, creditable against commission at closing, non-refundable if nothing closed. Twelve month term, which I talked down to four. He pitched it a…

aliyah_bAU2APRO9Answered4 replies

Story

I pulled conduit in a windowless building with one tenant

Spent about five months on a jobsite last year that I didn't understand until near the end. Single story, enormous, no windows, concrete everywhere. I was on the electrical crew r…

mitchell_ray4 Get yoursPRO123 replies

DiscussionRaising Capital / Investor Relations

One sponsor said we haven't known each other long enough. The other made me upload two years of tax returns

Same week, two conversations, two completely different doors. The first sponsor said their offering only takes investors they already have a relationship with, so they'd put me on…

megan_doyle15 Get yours0 replies

WinReal Estate Debt Funds

Land pays nothing for years, so I put the tax-and-hold money into a debt fund

I own three parcels I intend to hold for a long time. They generate no income and they cost me property taxes, a mowing contract on one, and liability insurance. About 7,400 a yea…

karen_whitfieldPG4APRO72 replies

From the desk:Fix and Flip (Cosmetic)

Inherited a dated house I never planned to renovate, and now I'm pricing paint

My usual business is land and long holds, so this is out of my lane. A 1960s ranch came to me through a family situation, 1,320 square feet, clean inspection, everything works and…

nicole_adeyemiPassivePRO14Answered7 replies

DiscussionFix and Flip (Cosmetic)

The 70 percent rule says 192k while flippers here are paying 240k

I mostly do land so treat me as an outsider on this. I ran a house near me as an exercise. ARV I'd defend is 325,000. Cosmetic scope, paint, floors, fixtures, kitchen refresh, cal…

nicole_adeyemiPassivePRO14Answered4 replies

DiscussionHome Inspection

Agent referrals or straight at buyers. I can only afford one.

I'm close enough to being licensed that I'm working out where the phone calls come from, and every person I ask gives me the opposite answer with total confidence. Agent referrals…

23Rryanmck27SC2C6 replies

DiscussionTitle Company / Title Services

As the lender on a small note, do I let the borrower pick the title company?

Writing private notes on residential, first position, small balances, mostly $80k to $250k. My loan documents currently say I select the settlement agent. I've had two borrowers p…

sonia_alvarez Get yoursPRO68 replies

DiscussionLand Wholesaling

Buy and hold the parcel yourself or assign it and move on

I've been researching land mostly as something to hold, and the more I read the wholesaling side the less obvious the choice gets. Assign it: no capital tied up, no property taxes…

diane_kowalskiPassivePRO143 replies

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