Field notes for real-estate investors.
Deep dives on data, markets, and the craft of finding deals most people miss. Published daily.
San Francisco Rents Are Up 22% This Year — Mesa, Arizona Is Down 7%. New Data Shows the 'National Rent Recovery' Is a Myth
New July 2026 rent reports from Zumper and Apartment List show the 'national rent recovery' headline is masking a massive split: supply-starved coastal metros like San Francisco are re-accelerating into double-digit rent growth while oversupplied Sun Belt markets like Phoenix and Austin are still falling. This piece breaks down the metro-level data investors need to underwrite rent growth correctly in 2026 — and the mistakes landlords make when they apply national averages to local deals.
The DOJ Is About to Pay Landlords $1 Billion for COVID Eviction Losses — the Deadline to Join Is This September
The DOJ is negotiating a roughly $1 billion settlement with landlords over lost rental income during the 2020-2021 CDC eviction moratorium, after a federal appeals court found the ban may have violated the Fifth Amendment's Takings Clause. The statute of limitations to join the case closes in early September 2026 — here's the legal backstory, the real numbers behind the payout, and how to check whether your own losses from that period could still be worth claiming.
Florida Voters Are About to Give Homeowners a $250,000 Tax Exemption — Investors Could Get Stuck With the $12 Billion Bill
Florida's Amendment 3 slashes property taxes for homesteaded homeowners while quietly changing the rules for rental and commercial property owners. State economists project a $12 billion annual revenue hole by year five, and investors, who already generate 64% of Florida's property tax revenue, are the most likely place counties turn to fill it. Here's what the bill actually does, and how to model your exposure before the November 3 vote.
Only 21% of Investors Look Off-Market First — New Data Shows the Other 79% Are Losing the Best Deals
A Q4 2025 investor survey and a separate OfferMarket poll reveal that while only 21% of investors say they look off-market first, 40% of recent purchases actually came from off-market sources — nearly double the rate of investor attention. Here's what the data shows, the mistakes investors make chasing off-market deals, and how to build an off-market pipeline with PropGPT.
The FBI Just Warned That Scammers Are Selling Vacant Land They Don't Own — 62% of Title Fraud Now Targets Deals Just Like Yours
The FBI just issued a fresh nationwide alert: criminals are impersonating vacant landowners, forging deeds, and selling property they don't legally own. This piece breaks down exactly how the scam works, the hard numbers behind it (62% of title fraud now targets vacant land), and a PropGPT-powered verification workflow that catches it before you wire a dollar.
Two Housing Reports Just Dropped. Both Say Prices Moved 2.5%. One Means a Crash, the Other a Record High.
Realtor.com and Redfin published contradictory national price reports one day apart this week, both citing a 2.5% year-over-year move in opposite directions. Here's why they're both right, why four sources quoted mortgage rates 37 basis points apart the same week, and how to pull the local ask-vs-sold data that actually matters for your next offer.
House Flipping Margins Just Snapped a 7-Quarter Losing Streak — Here's Why Pittsburgh Investors Are Clearing 85.9% While Austin Flippers Get 2%
ATTOM's Q1 2026 Home Flipping Report shows profit margins rose for the first time in seven straight quarters, snapping a two-year slide — but the 25.4% national average hides a massive split: some metros are clearing 85.9% ROI while others barely break even. This piece breaks down where the real flipping money is in 2026, the price tier quietly outperforming everything else, and how to screen for it before the next investor does.
242 U.S. Cities Now Have $1 Million 'Starter Homes.' Here's Where Investors Can Still Buy One for $120,000.
Zillow just confirmed that 242 U.S. cities now have 'starter homes' priced above $1 million, nearly triple the pre-pandemic count. But the same data shows real sub-$150,000 entry points still exist in Birmingham, Pittsburgh, Detroit, and Memphis. Here's how to use that split to find your next deal instead of your next headline.
Government Red Tape Added $132,000 to Every New Home Built in 2026. Here's Why That's a Long-Term Landlord's Secret Weapon.
NAHB's June 2026 study reveals government regulations now add $131,734 to every new U.S. home — a 40% increase in five years, compounding at more than twice the pace of income growth. This breakdown explains why the 1.2-million-unit housing deficit isn't closing, what that means for long-term rent growth, and the PropGPT prompts investors can use to identify supply-constrained markets where existing rental inventory has a durable competitive advantage.
$3,500 to $6,500: How Co-Living Investors Are Doubling Rent From the Same Single-Family Home
Co-living turns a 5-bedroom home from a $3,500/month single-family rental into a $6,000-$7,000/month income property by renting each room individually to working professionals. This article breaks down the underwriting math, the best markets in 2026 (Denver, Austin, Colorado Springs, Nashville, Indianapolis), common execution mistakes, and five copy-paste PropGPT prompts for market screening, zoning research, and side-by-side deal analysis.
Subject-To: How to Acquire Real Estate at 3.25% in a 6.5% Rate World (Without Applying to a Bank)
When rates sit at 6.5–6.9% and foreclosure filings are up 14%, investors who know Subject-To are acquiring rental properties with inherited 3–4% mortgages — no bank approval required. This guide breaks down the mechanics, the math (you save $740/month on a $300K deal vs a DSCR loan), how to find pre-foreclosure deals, and exactly how to use PropGPT to underwrite and close them.