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DiscussionSmall Multifamily (2-4 Units)

Cash to close on a $300k duplex, what am I forgetting besides the down payment

I've been slowly building a number for a duplex around $300k and my whole worksheet is basically down payment plus a few thousand for closing. A lender I talked to mentioned reser…

ehernandez74PO2BPRO74 replies

From the desk:Small Multifamily (2-4 Units)

The percentage model loses me money on 2-4 unit buildings

We manage 61 doors across a mix, and the small multifamily side is where my margin goes to die. Ten percent of collected rent on a triplex at 1,200 average is 360 a month for a bu…

angela_burkeServicePRO125 replies

DiscussionConsulting

Client wants me to sign the underwriting model I built for their LP deck

Sitting on an engagement where I built the operating model for a 180-unit value-add, and the sponsor now wants my firm's name on the model tab and a one-page memo that goes into t…

marcus_hale41CG4A2 replies

DiscussionConsulting

Two consultants, two different answers on whether the first call costs money

I've been putting together a shortlist of people who could help me sanity check a small market I've been watching for about a year. I emailed four, heard back from two. The first…

ehernandez74PO2BPRO716 replies

DiscussionProbate Real Estate Investing

340 filings pulled, maybe 60 own a house. Is that normal shrinkage or is my county weird?

Building a list rather than buying yet. Last full month for my county gave 340 new probate cases. I matched names and addresses against the assessor and got about 60 that look lik…

devon_pierce Get yoursPRO14Answered4 replies

WinProbate Real Estate Investing

Won a five unit at the confirmation hearing after losing the last one, here is what the overbid actually cost me

I spent $4,100 on diligence for an estate sale last year and watched somebody outbid me by $12,000 at the hearing. That money is gone. I went back in on a second one anyway and th…

39Rrenee_dubois Get yoursAnswered14 replies

DiscussionReverse Wholesaling

Real startup numbers for reverse wholesaling, if anyone has them

My first rental is coming and I'm reading everything, and I keep circling back to reverse wholesaling because it looks like the version with no down payment. Which makes me suspic…

paulgrant17PassivePRO7Answered12 replies

From the desk:Reverse Wholesaling

Found something that fits a land buyer's criteria. No idea what to ask.

I've been reading land for months without buying anything, and in the process I got to know a guy who assembles recreational acreage. He buys four or five parcels a year, all cash…

diane_kowalskiPassivePRO14Answered11 replies

DiscussionOpportunity Zone Investing (Passive Angle)

The tax exemption is a multiplier on a number I don't control

I put a sponsor's deck side by side with a plain non-OZ syndication this week. Eight-year hold going on ten, $250k in, pro forma that ramps to a 6% cash yield after year four, and…

15Bbrandonlee36Passive8 replies

From the desk:Opportunity Zone Investing (Passive Angle)

Somebody told me to put a $58k gain in an opportunity zone fund, starting from zero

Sold some stock I'd held since 2019 and the gain is about $58k. A friend who does commercial deals said I should look at an opportunity zone fund instead of paying the tax, and I…

chriswalton8CC1CPRO155 replies

LossPublic REITs (Capital Deployment)

Traded my REIT sleeve 11 times in seven months, and spreads and taxes took it

The thing I liked about public REITs was that I could act. Direct property takes months to buy and months to sell, and a REIT takes a click. So I built a 40k sleeve and used the l…

luis_carrera Get yours0 replies

LossMixed-Use Properties

$4,300 and six weeks on a building my lender was never going to finance

I've been reading here for a while and mostly posting about screening for the rental I have closing soon. This is the one before that, the one that didn't happen. Six unit buildin…

paulgrant17PassivePRO77 replies

LossGround-Up Residential Development (Spec Home Building)

Funded 62k behind a construction loan, ended up owning a house with no cabinets

Two years ago I put 62k into a spec build as a second position loan behind a 240k construction loan. Roughly 2,300 square feet in a decent suburban submarket, as-completed apprais…

sonia_alvarez Get yoursPRO64 replies

LossSmall Multifamily (2-4 Units)

Bought a triplex that was legally a duplex. 41k to find out.

This closed a bit over two years ago and I sold it in the fall, so I can write it down without flinching now. Building was a 1920s two-story in an older streetcar neighborhood, ma…

tylerbrooks9PassivePRO413 replies

DiscussionSmall Multifamily (2-4 Units)

Priced on NOI, appraised on comps, $80k apart

Fourplex, asking $720k. Seller's broker hands me a package showing $52k NOI and calls it a 7.2 cap, then points at 5-plus sales in the same submarket trading at 6.5 to justify the…

diane_kowalskiPassivePRO1413 replies

DiscussionStudent Housing

Who actually signs a student lease, the nineteen year old or the parent

I have been shadowing leasing at a by-the-bed property to learn the service side, and the paperwork question I did not expect to be a live argument is who the lease binds. Three v…

derekj19SB1B10 replies

DiscussionLease Options (Rent-to-Own)

Does the memorandum of option go on record, or stay in the drawer?

Reading a lease option package for someone else this week and the option contract is clean, well drafted, separate from the lease exactly like people here keep saying it should be…

sonia_alvarez Get yoursPRO62 replies

LossBookkeeping (Real Estate)

I couldn't prove basis on the parcel I sold because all four shared an account

I hold raw land, long. Four parcels bought across about three years, all in one LLC, nothing built, nothing rented. Carrying costs are small and boring: property taxes, occasional…

karen_whitfieldPG4APRO7Answered6 replies

LossCrowdfunding (Platform Investor)

Short term notes, they called it. Fourteen months to get 4k back.

The product page said short term, average duration under a year, and there was a redemption request option. I read that as a savings account with a better rate. It isn't. I reques…

carlos_nunezActive1 reply

DiscussionInvestor-Friendly Real Estate Agent

Thinking about getting my license myself instead of hiring one. Is that a bad idea for a small landlord?

Six units across two small buildings, self-managed, and I'm on my third agent in four years. None of them were bad people. They just didn't understand what I was buying. So I star…

13Rrenee_dubois Get yoursAnswered7 replies

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