Real estate investing, one discipline at a time
Six guides to the core disciplines of real estate investing. Each one teaches its subject in sequence — the process, the metrics, the vocabulary and the mistakes — and links to the deeper articles that own each topic.
Real Estate Underwriting
How real estate underwriting works, step by step: NOI, cap rate, DSCR, cash-on-cash, IRR and equity multiple, financing and exit assumptions, scenario analysis, and the mistakes that sink deals.
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Multifamily Investing
A working guide to multifamily investing: reading the T12 and rent roll, underwriting income, expenses and rent growth, financing and syndication structures, risk, and exit strategy.
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Real Estate Development
How a ground-up development deal is analyzed: the pro forma, land, hard and soft costs, contingency, construction financing and loan-to-cost, interest carry, completed value and development profit.
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Self-Storage Investing
How to analyze a self-storage facility: unit mix and street rates, physical vs economic occupancy, revenue per square foot, operating expenses, NOI, valuation and value-add opportunities.
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Single-Family Investing
Buy and hold, fix and flip, and wholesale, each analyzed on its own terms: rent and cash flow, ARV and rehab budgets, holding costs, the 70% rule, maximum allowable offer and assignment spreads.
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Property Research
What to research before making an offer: ownership and owner portfolios, mortgage and tax records, sales and MLS history, comparables, rent comps, demographics, and finding off-market properties.
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Looking for something specific? Every article lives on the blog, newest first.