Protecting Your Capital
Return of capital comes before return on capital.
Every investor wants the upside. Our first job is the part nobody advertises: making sure the downside cannot take your principal. Here is exactly how we do it.
We build the downside first
Before the upside, we model the bad year. A property that only works if everything goes right is a bet, not an investment. How →
We verify every number
Seller pro-formas are sales documents. We rebuild income and expenses from the public record and actuals, then price to the truth. How →
We keep a coverage cushion
Conservative leverage and a comfortable debt-service margin mean a soft year means “wait,” not “lose.” How →
We honor a walk-away price
We set a maximum price before we negotiate, and we hold it. The deals we reject protect you as much as the ones we buy.
Five hurdles, no exceptions
Every deal must clear all five of our return hurdles in the base case — on verified numbers — before it ever reaches you. How →
Our money rides with yours
We invest alongside our investors and structure the split so we earn meaningfully only after you are paid. How →
Who this is for — and who it isn’t
This approach is built for investors who want durable, income-producing real estate and who value protecting the downside over chasing the maximum possible return. It is not built for anyone reaching for the highest number on a page, or who may need their capital back on short notice. These are patient, multi-year, illiquid investments that can lose value, including principal. We would rather be the right fit for the right investor than a fit for everyone — and saying so plainly is part of how we protect the relationship.
Keep Reading
See the discipline in full.
Our free guide lays out the seven questions behind all of this — the same standard we hold ourselves to. Read it, then hold every sponsor to it.