Broker vs Lender vs Excel: DSCR Thunderdome
Broker: Pro forma says 8.5% cap and 1.35x DSCR—EZ close Lender: Neat—send T-12, rent roll, estoppels, Phase I, and proof the roof isn’t a rumor Excel: Circular reference found; replaced your TI/LC with #VALUE! 😌 Client: Can we close Friday if we start Wednesday? Me: Only if NOI grows by vibes and a surprise Starbucks lease 🦄
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