Insights
Method, written down
How we read an operating statement, what a cap rate is and is not, and the coverage arithmetic that usually sets the price. No market calls and no forecasts.
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What a trailing twelve actually tells you
The operating statement a seller hands you is a description of how a building was run, not how it will run for you. Reading the difference is most of the work.
6 min read -
Cap rate is a quotient, not a quality
A capitalisation rate is one number divided by another. Most of what people mean when they call one “good” lives in the two numbers, not the ratio.
5 min read -
DSCR before price: how a lender reads your building
When debt costs more than the going-in yield, the loan sets the price. Working the constraint backwards is faster than negotiating forwards.
7 min read
Contact
Contact Ryan McMillan
Send us the building. You get a written analysis whether or not you transact, and whether or not you transact with us.
Ryan McMillan, Broker, OR #201262100. Brokered by eXp Realty. The first substantive conversation about a specific property is a licensed act and belongs to the broker.