real estate
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The Secret Key to Market Research
If you really want to understand a neighborhood – if you want to see what others can’t – you need to get out there and talk to everyone. Continue reading
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The Profitability Paradox
Someone presents a deal that checks every box. Prime location, strong rent comps, great cap rate, and a pro forma that shows an impressive margin. Continue reading
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Options and Incentives
People don’t use options enough. And I’m not talking about stock market options. I’m talking about options inside deals – the kind that give you flexibility, alignment, and leverage. Continue reading
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Buy Now, Right Before Interest Rates Drop
“Let’s wait a few months. Let’s see where the market goes.”Sounds reasonable, rightBut in my view, that is exactly why now might be the best time to buy. Continue reading
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The Paradox of Financing Against Project Surplus
Let us look at a real estate project example and unpack one of the most interesting paradoxes in development finance — how you can finance equity using the very surplus that the project is expected to generate. Continue reading
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Where Does the Developer’s Profit Come From?
Every developer builds a pro forma that includes something called “developer profit.” It appears in every model, almost like a natural law. But why is it there? Who decided that a developer should earn this profit? And where does it actually come from? Continue reading