For those active in the performing note space, have you raised your minimum ROI or minimum interest rate to maturity calculations in the last 6 months?

For BTR, I am willing to accept performance above 0.8%, but what are you willing to accept and where do you think interest rates will be in 6 months, 12 months, and 18 months from now?

If it needs upgrades/work and you are expected to perform such work, then walk away from it.

You will also not have the luxury of spreading major CAPEX expenses and some maintenance expenses across all units (one roof, one electrical system, one lawn, one parking lot, one HVAC system, etc)- When you buy the portfolio, there is a pretty good chance that at some point you will want to sell off the lower-performing assets in the portfolio or the assets that cause a headache.

This is how we perform rental analyses for prospective clients.

@Stevo Sun: If you made a seller an offer and seller accepts... and you both execute a contract but then either you (or seller) fails to close... then there is a breach of contract and the defaulting party can be sued for specific performance by the aggrieved.

You’ll be surprised how much better your property will perform as a self managed unit.

At that point I'd make a cash offer to the seller for the return that I guaranteed.The way the contract is structured the contractor is being hired by the seller to perform the work.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

We communicate well, work as a team, I don't step on their toes and mostly avoid interacting with tenants, but sometimes do visit and perform work on my properties.