Reader

I built something this week you can use right now.

Put a deal's numbers in — revenue, expenses, financing, exit cap rate — and watch what happens when expenses outrun revenue, or when the buyer at exit demands a higher cap rate than you underwrote to.

It's the second question from the framework I've been writing about: is there a pref, does the waterfall make sense, and — underneath both — what actually has to go right for this deal to work?

Most sponsors won't show you that. Now you don't need them to.

No signup. Nothing saved. Your numbers stay in your browser, and when you close the tab, they're gone.

​Run the stress test →​

If you're evaluating something right now, run it before you sign.

-JB
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The next live event

Thursday, November 5th, 6:30 PM. The first one sold out in three weeks.

Investor? RSVP For November Here​

Sponsors: a handful of slots are open for the November room — a short window in front of investors who showed up once already and are actively looking. If you've got a vetted deal and want in front of this room, reply and let's talk.