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The CRE Humor Jokes

Pro Forma vs Reality: Lender Brings a Calculator, Appraiser Brings a Shovel

ricklahkar
Apr 30
1 min read

Broker: DSCR pencils at 1.25 on stabilized 🧮 Lender: cool, send rent roll, T-12, SNDA, estoppels, Phase I, and your soul Appraiser: using 2019 cornfield comps; adjusting -37% for market vibes Me: cap rate went to lunch with SOFR + 350 and never came back 😵‍💫

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The CRE Humor Jokes

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