Expectation: 6 Cap. Reality: 6AM Chasing Estoppels
- ricklahkar
- May 17
- 1 min read
Broker brain: 45-day close, easy Lender: send fresh Phase I, real T-12, 7 estoppels, and the tenant’s blood type Seller: “Use our pro forma, it’s basically guaranteed” Me at 2:13am: Excel froze at 1.24x DSCR—whispering sweet nothings to a cell 🙃
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