ChatGPT Image Mar 21, 2026, 05_41_11 PM.png

The CRE Humor Jokes

DSCR Hunger Games: Broker vs Lender vs Reality

Sep 16

1 min read

Broker: We're 95% occupied! Lender: Send estoppels, SNDAs, and the tenant's blood type. Underwriting brain: Argus says maybe... Excel says LOL no... DSCR 1.24 doing the limbo. Appraiser: Value is market-derived. Market: comps from 2019 and a Taco Bell ground lease. Client: Can we lock SOFR + 150? Rate desk: Surge pricing, bestie 🫠 Title at closing: Found a 1978 horse-path easement. Me: add to sources & uses?

Recent Posts

See All

Cap Rate Catfish: The Turnkey NNN That Turned On Me

Broker: Turnkey NNN at 5.25 cap, totally stabilized Lender: Need T-12, rent roll, estoppels, Phase I, AE, and a blood oath 🧮 Appraiser: Used a 2019 cornfield comp, value minus 11 percent Me: DSCR 1.2

When DSCR Says Yes But The Appraiser Says LOL

Broker: DSCR pencils at 1.30x, 95% “occupied” if you squint Lender: Cool—drop T-12, estoppels, Phase I, ALTA, and your childhood report cards 😵‍💫 Appraiser: Subject to roof at end-of-life, comps fro

Expectation: 30-Day Close. Reality: 30 Docs A Day.

Broker: 30-day close, seller super chill, 5.5% cap—easy. Lender: Need T-12, T-3, rent roll v12, estoppels, SNDAs, Phase I on the Phase I, and your sponsor’s blood type. Client: Cool, make it 80% LTV,

The CRE Humor Jokes

Comments