My Model Said It Pencils—Then Taxes Returned From Vacation
- ricklahkar
- 12 minutes ago
- 1 min read
Broker: It pencils at 7% unlevered My Excel: circular reference; DSCR 1.31 -> 0.97 after real taxes, insurance, and TI/LC 😂 Lender: Send T-12, rent roll, estoppels, tie-out on CAM, and proof Other Income isn’t the vending machine Client: Can we close Friday? Me: Sure—after I find why vacancy is negative and OpEx says misc $0 😵💫
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