I Lost Money in 2021 — Here’s What I’m Doing Differently in 2025+
Monday, May 05
Let me say something most syndicators won’t: I lost money. Not on every deal. But enough of them. When you have done 2 Billion dollars of deals you are going to have them... hint for new LPs, trouble is most new syndicators on their first dozen or two projects are not going to have long of a run ...
Inflation, Tariffs & Real Estate
Monday, May 05
Back in 2020, I was mid-development on a multifamily project when lumber prices spiked 4x seemingly overnight. That single cost line item turned what was supposed to be a predictable, well-underwritten deal into a scramble. We made the decision to bite the bullet and purchase materials at inflate...
Student Loans: High-Income Professionals Must Exit the SAVE Plan
Monday, April 21
In my early days of real estate investing, I learned that small mistakes cost big over time - like doing a 15 year mortgage cause I thought I was saving interest. The same applies to student loan plans. As a high-income professional pursuing PSLF, the SAVE plan — while appealing on paper — is a t...
The Strike Zone Strategy: How I Avoid Deal Overwhelm as a LP
Monday, April 21
In 2016, I was reviewing a flashy new deal from an up-and-coming sponsor — 28% IRR, high-growth market, strong team. I had a good feeling. But something didn’t sit right. The deal assumed 6% annual rent growth. Exit cap was lower than purchase cap. And there was almost zero budget for capital res...
What is Internal Rate of Return (IRR)?
Monday, August 02
https://youtu.be/7WixwYh7Suk Personally, I don't really look at IRR because it is a highly manipulated metric. Showing an unrealistic refinance in year 2 instead of year 3-4 will likely turn a 13% IRR deal to 16-17%. Magic! The best way to explaining this is for you to download an IRR calculator...
HOW I USE IBC: BANKING FROM YOURSELF
Tuesday, July 20
“Whenever you find yourself on the side of the majority, it is time to pause and reflect” -Mark Twain Banking from yourself (with life insurance as the mechanism) allows cash flow investors to augment the investing they already are or will be doing. In 2016, I learned about this little-known fina...