Equity Splits in Real Estate Syndications

“The deal is an 8 pref with 70/30 equity split.” Got it? No? Welcome to the world of equity splits, where deal makers throw around words like “preferred” and “waterfall.” If you’re new to syndications, these terms can be...

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Over the past eight years, 8.9 million households have formed in the U.S., an average of 1.1 million per year. With this in mind, the number of people in the prime renter-age is expected to continue growing over the next few years. 2018 Multifamily Rent Growth Ends...

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In 2007, we told a story about the stability of housing prices, the prudence of bankers, and the ability of financial markets to accurately price risk. In 2009 we stopped believing that story. The Greatest Story Every Told What’s Your Frame of Reference for a...

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The Rate of Return on Everything – real estate outperforms every other asset class in both absolute returns, and it’s even better on a risk-adjusted basis (aka the Sharpe Ratio), via Viking Capital. 23 Life Choices that Are In Your Control, via Brad...

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84% of Americans are shopping for something at any given time, in up to six different categories. And in nearly one quarter of shopping occasions, shoppers say they turn to their smartphone first. Think with Google 84% of Americans are shopping for something at any...

Technology We Use

Live look at me writing this post I plan to write a longer post that goes into more detail about how we automate many of our business processes, but I thought some might just want to know what tools we use. So here they are. FullContact to capture business cards...

2018 Annual Letter

December 4, 2018 Dear Friend, This is the first of what I hope will be many more annual letters to investors. The obvious inspiration for this is Warren Buffet’s annual shareholder letters. And while I would be a fool to promise the same level of insight and...