So, the question is, why are workers leaving in droves and what can employers do about it?
While the future can be notoriously difficult to predict in a fast-changing industry like electric automobiles, we think that potentially lucrative real estate markets share five characteristics …
When Congress passed the Tax Reform Act of 1986, it was then-President Reagan’s top domestic priority and it was a landmark piece of legislation. The purpose of the law was to simplify the tax code, reducing the number of tax brackets and lowering the top tax rate from 50% to 28%. But, that wasn’t the only major change. The law also created the Low Income Housing Tax Credit Program (LIHTC Program).
On July 11th, 2021 UK entrepreneur, Virgin Galactic founder, and billionaire, Sir Richard Branson successfully completed the first private space flight. It lasted roughly an
Commercial real estate investment strategies can be broken down into four categories: Core, Core Plus, Value-Add, and Opportunistic. These terms are used by commercial real estate investors as shorthand for the risk profile, quality, location and strategy of an individual property.
The operating expense ratio, or “OER”, is a simple formula that’s easy to calculate and reveals how efficiently a property runs on a day-to-day basis.
A project’s cost is a function of the number of hours that it takes to complete it so providing an accurate estimate is critically important. Get it right and you’ll deliver within the client’s budget. Get it wrong and you risk upsetting them.
The New Markets Tax Credits program, or NMTC, is a component of the Community Renewal Tax Relief Act of 2000. The goal of the program is to stimulate investment in low-income areas. Commercial real estate developers use the NMTC program to secure advantageous debt and equity terms for developments.
Use the following 8 tips to level up your multifamily real estate modeling!
A Ground Lease, sometimes called a Land Lease, is a long term lease whereby a property owner agrees to lease their land to an investor/developer.
At Bullpen, we ask our analyst candidates a mix of quantitative and qualitative questions to determine their competency. We’ve curated some of our favorite …
If you’ve been following Bullpen’s blog for a while, you’ve probably started to notice that we’re transitioning our excel-based real estate financial models to Google Sheets.
Real estate development is like walking through a minefield with a 5-year-old map. It’s fraught with risks and unknown variables. Underwriting models do a great
Financial modeling is the most foundational skill in commercial real estate. However, the underwriting process usually involves an underwriting tool that is filled with headaches …
REO (Real Estate Owned) real estate refers to bank and angency owned properties transferred to the bank/agency due to a foreclosure or breach of lending contract.
The following blog is a compilation of teaching notes and best practices for the creation of an institutional quality real estate investor presentation from my
A good development project starts with the land. Watch as consultant Marina Gitas shows Greg Dickerson how she analyzes a potential development using both a
Site visits are a key component of due diligence and can often be overlooked. A wise buyer will dig deep on environmental hazards, ingress/egress and easements, parking, and more. These principles apply across real estate asset classes and should be considered for any acquisition.
Opportunity zones are a hot topic in commercial real estate. Why? Investors receive big tax benefits when investing in these government-designated areas. However, no good
This piece is an excerpt from a recent interview with Lawrence Vo, a Bullpen freelance analyst and data center expert. In the interview, we discussed
The planning process is the most important part of a New York real estate development project. One key component of this process is a market
Content is king. Commercial real estate gurus are embracing the new age of content marketing, creating impressive online followings. These content creating influencers use podcasts,
Think of a car manufacturer building a new model. Now, think about the team required: marketing, strategy, engineering, etc. In commercial real estate, the real
As a Bullpen freelance analysts, you’ll regularly meet with potential clients on the phone. During the phone interview, clients want to learn about you and
An equity waterfall, also known as a distribution waterfall, maps cash flow between sponsors (general partners) and limited partners of a private equity fund. A fund’s limited partnership
One of the biggest challenges that small to medium-size investors and developers face when building a commercial real estate syndicate is finding qualified investors. We’ve
The commercial real estate market is more competitive than ever. How do you write a compelling commercial real estate offer on a potential purchase? Ask
1. Reduce and control fixed costs: Real Estate investors and developers remember the Great Recession and recall the pain of layoffs. Fixed costs are defined