When the OM Says 6 Cap and the Rent Roll Says LMAO
- ricklahkar
- May 4
- 1 min read
Broker: Clean 6 cap, stabilized, turnkey Lender: Need T-12, T-3, T-1, estoppels, SNDA, Phase I, and your childhood diary Me: Open model, DSCR 1.09, roof report says original 1987 — IRR hits Ctrl+Alt+Del 😵💫 Seller: No retrades; also drops CAM reconciliation from Narnia Client: Can we close Friday? Me: Sure, if SOFR naps and the anchor stops going dark 🔥
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