However, given that the covid era is over, and I'm not getting involved in bidding wars, I'm referring to regular buy & sell negotiations.

Membership is consumptive and non-financial—no dividends, profit-sharing, voting, or control rights.

Quote from @Melinda Eilts: Hey everyone,For investors who regularly hire contractors:What’s your process for checking reliability and quality?

Quote from @Harvey McMurray: Working through an infill lot opportunity in Spartanburg SC with utilities at street, no HOA, and strong new-build comps in the $260k+ range.For those who work with builders or who wholesale land regularly, how do they typically evaluate:• Lot size• Utility availability• Comps• Dirt condition• Entry priceI shared the full situation in my Classifieds post per BP rules.Just trying to understand how builders in that area run their numbers.

Looks- As you can see above the Beige or Tan color looks the same as regular storage units.

Due diligence we built systems and network to assist us to get it done faster along with networking with other experienced investors regularly. 

They don’t usually foreclose like mezz— they take over control rights if things go sideways.Ideal for:Ground-up or heavy value-add where cash flow is lumpyDeals where senior lenders cap leverageSponsors who need flexibility on timing of returnsThe real deciding factor: cash-flow timing vs. controlIf you can make regular payments but don’t want to dilute ownership → MezzanineIf you can’t guarantee near-term cash flow but need capital to close the gap → Preferred EquityIf your senior lender forbids mezzanine (which happens often) → Preferred Equity is the workaroundOne more nuance most posts miss:Preferred equity comes in two flavors:Soft Pref – economic preference, no takeover rightsHard Pref – essentially mezzanine equity with control triggersUnderstanding which version you have matters just as much as the return.Both tools are powerful, if you pick the wrong one for the wrong project, it can wreck your risk profile.

This experience underscored the importance of clear communication, documented agreements, and regular progress updates.

Engaging in regular cost reviews and audits can highlight areas for improvement and potential savings.

I’m also interested in joining any investor groups or meetups that meet regularly in the Tucson area.