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Real-estate investor math, without the guru agenda

Every article here pairs with a calculator on this site. Concept on the left, math on the right — both written by an operator with no commission tied to the deal, both cited to primary sources (Fannie Mae §B6 / §B7-3, Damodaran NYU Stern, NCREIF, IRC §168 / §1031 / §469 / §199A), both reviewed quarterly.

Income Property

What cap rate actually means — and where the metric breaks

Cap rate = NOI / value. The metric works well for comparing comparable income properties at scale and breaks down in three specific scenarios most investors have to navigate. Here's the math, the mechanics of the band-of-investment derivation, and where the metric stops being useful.

Updated May 8, 2026 · Pairs with /calculators/cap-rate

Portfolio Strategy

BRRRR strategy: the math with honest numbers

The BRRRR pitch — pull all your capital back out, do it again with the same money — works on YouTube and breaks on real timelines. Here's the actual math when rehab runs over, the appraisal comes in light, the refi LTV is 70 not 75, and the 'all your money back' becomes 'most of your money back.'

Updated May 8, 2026 · Pairs with /calculators/rental-cash-flow