What you need is a team. However, the ebbs and flows of the real estate investment business make hiring full-time employees risky.
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.
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.
Most commercial leases are dense and complex. A lease abstract makes the information more digestible by outlining pertinent financial, business, and legal provisions.
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.
If you invest in commercial real estate, you’ve undoubtedly run into frustrating tax circumstances. Real estate investors commonly embrace tax-deferral strategies like the 1031 exchange
CAM charges describe the expenses a commercial property owner bills back to tenants in return for maintaining shared spaces. CAM is one of the most
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.
Justin Kivel, Founder of Break Into CRE, has done what many entrepreneurs dream of doing, evolving an idea into a successful business (from 0 to
There are many questions as to what the post-COVID “new normal” will look like for multifamily operations. I would submit that the “new normal” has
Many believe that multifamily is the easiest of all asset classes to underwrite. While this may be true, multifamily properties have their own set of
When acquiring improved commercial real estate, you have many things to worry about. The first step in a successful acquisition is to be and stay
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
In 2010, there were 600 standalone co-working locations – today, there are nearly 50,000. We can expect that period of exponential growth to come to
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.
There are hundreds, if not thousands, of free investment models online to help maneuver the seemingly complex world of commercial real estate valuation. Many of
LGIS Group offers the first patented investment-grade insurance coverage against foreclosure and deficiency loss for short term commercial real estate loans. Commercial real estate professionals
There a benefits and drawbacks to creating a remote team, actively building a bridge between communication gaps gives you the benefit of a powerful team in house and remotely.
What is Bullpen? Bullpen connects expert commercial real estate analysts with top companies who value time and efficiency. Like a staffing agency? Not really. Bullpen
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
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,
Your commercial real estate analyst might be good, but nobody is immune to human error. Long hours and monotonous PowerPoints will cause even the most
The situation … You run a small real estate investment/development organization. You have a ton of work … modeling new deals, pursuing relationships with brokers,
Why pay for a degree in real estate when you can learn how to model commercial real estate from the best on Youtube? We’ve compiled
What is it? Yield (also known as Cash on Cash Return) is a popular commercial real estate return metric. It measures the cash paid to
What is it? IRR, or Internal Rate of Return, is the most commonly used profitability metric in commercial real estate. Why is it so popular?
When underwriting your property, an analyst can “engineer” an investment IRR by adjusting the debt or business strategy in the pro forma.
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
Analysts work on a vast array of tasks, but what are the top 3 commercial real estate analyst tasks? Using data collected from hundreds of
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
Alternative (or non-traditional) assets are important for portfolio diversification because they allow investors to distribute risk across several investments, rather than build their portfolio (and
1. Account for adequate vacancy and downtime during renovation period A rolling renovation of multifamily units creates a sustained period of vacancy in the property.
A commercial lease governs the relationship between a landlord and a commercial tenant. There are seven main types of commercial leases, each of which comes
INTERNAL RATE OF RETURN (“IRR”) IRR is a return metric that considers the time value of money and the impact of re-invested distributions. It is