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DAE have a landlord who taught them more about cap rate math than any course, right in a Wendy's parking lot in Toledo
He pulled out a napkin and showed me why my $850k offer on a 6 unit building was $120k too high based on the actual NOI, not the pro forma, and I still use that napkin method today, so what's the weirdest place someone broke down a deal for you?
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wren_wilson931mo ago
Wendy's parking lot cap rate lessons are somehow more valuable than my entire finance degree. Mine was a gas station at 2am where a guy explained seller financing on the back of a lottery ticket.
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