Real Estate is a highly specialized tax environment. 

The fact that you’ve had to step in so often suggests the management company may not be meeting even basic levels of service.You’re paying for peace of mind, but doing a lot of the work yourself.

I find it should scale easier than a flat basis point because you want to allow the LO flexibility to compete in an environment where borrowers are going to show. 

Especially since they're just twiddling their thumbs at home during this government shutdown (cue Lindsey Graham screaming his pretty little head off).Follow-On Effect: RussiaOne aspect of this deal that many folks may be sleeping on: the US is requesting China's assistance in negotiating a peace deal between Russia and Ukraine.

My underwriting does not depict this as good cash flow, but in this RE environment this is what passes for good cash flow today.  

Since you’re in Texas with rentals in both CA and TX, you’re juggling two very different legal and tax environments.

Not what you are seeing.A distressed single-family home in the $300-400K range in Austin is older than 1990 for sure (if not substantially older) and likely requires 40-50K+ in rehab to bring above $2,000/month in rent (or more precisely, to have the chance to do that, in an environment with 4-10% vacancy rate!).

If we build them right, we still capture some equity and minimize the capital we need to bring in,  but we’re definitely not in the same environment we were a few years ago.I actually just went under contract on what would be a “classic” BRRRR again, a heavily distressed property that’s already gutted (which I love, fresh slate).

Would love to hear how others are navigating note sales in this rate environment.

The current political environment has made St Paul one of the best rent growth markets in the US.