Our Journal
Field notes from inside the deal: how we read a property, price what it can become, and run it to a clean close. Plain language, real Miami numbers.
The price is a decision. The loan is arithmetic.
A term sheet says up to 80%, and up to is the operative phrase. Three tests run against the same building, and the smallest answer is the loan.
The permit record is the building's medical history
Title records who owns the land. It does not record what was built, or whether the city ever agreed to it.
The recertification letter
It arrives as ordinary mail and forces a decision the owner had been comfortably deferring.
The lot is zoned for more than what is on it
Two lots on the same block, same width, same vintage. One holds a duplex. The other holds six units.
The buyer pays tomorrow's tax bill, not today's
The tax line on an operating statement is accurate, documented, and close to meaningless to the person buying.
What the building actually nets
Owners quote a price. The headline number is the one figure in the entire transaction that nobody receives.
For your reference
The words income real estate is priced in, defined the way we use them in real deals. Plain language, Miami examples, every term in English and Spanish.
Read the next one first.
One email when something worth reading goes up, including what traded nearby and what the number really meant.
We do not call or text subscribers. Unsubscribe anytime. See our Privacy Policy.