Levered Lenny

[Levered Lenny @LeveredLenny]

@pestctrlguy Take it a step further and have it add the meals to the family calendar with the recipe. I use Muse but imagine Grok can handle that step too if connected.

[Levered Lenny @LeveredLenny]

Most underwriting I saw (save for a few idiots) was more like mark to market over 2 years then 3% thereafter. The issue was mark to market flipped negative at the same time you’re getting higher rates which feels paradoxical but is possible with a huge growth factor like AI.

Yeah it’s over a 2-year period, but starts are still relatively elevated too. Likely outpaces demand to the point occupancy moves to around 88%.

[Levered Lenny @LeveredLenny]

@resetbasis The answer is no, they are not properly rated

[Levered Lenny @LeveredLenny]

@JakehellerPD @AppFolio Resident conversations save time for accounting teams? Huh?

[Levered Lenny @LeveredLenny]

@GenZMultifamily You’re clout chasing with fake AI hype before you even validated it works. You could know for sure it won’t make errors by actually using it before posting about it lol. You’ll give it away for free because that’s what it’s worth..

[Levered Lenny @LeveredLenny]

@LeylaKuni You should see their loans to Nitya, the group that took out a paid ad in TRD saying they’ve never lost investor money. Those are worth probably 50% of loan balance.

[Levered Lenny @LeveredLenny]

@Mr_Neutral_Man @Jefffeldman AI looking very bubbly

[Levered Lenny @LeveredLenny]

@jayparsons @resetbasis Yeah but those borrowers also aren’t very impacted by rates at the moment. I thought you were talking specifically about distressed deals.

[Levered Lenny @LeveredLenny]

@jayparsons @resetbasis I think that’s a bit backwards. Soft rents and occupancy have been far more challenging than higher rates. Interim cash flow can be solved more easily than upside down values. You could justify kicking in more money if rents were growing.

[Levered Lenny @LeveredLenny]

@credealjunkie Well as long as it’s not resident facing!

[Levered Lenny @LeveredLenny]

@Stealx @tommywarboys The worst news to get from a broker is that they found a lot of qualified buyers. We need more unqualified buyers.

[Levered Lenny @LeveredLenny]

@thematthew And they “stabilized” even lower than expected

[Levered Lenny @LeveredLenny]

@jayparsons Don’t forget higher rates = less affordable home ownership = more renters.

[Levered Lenny @LeveredLenny]

@CashionEast @timthecpa Same! We built a system to auto map relationships between entities in complex vehicles, integrate capital activity alongside operating agreement logic to run recursive waterfall calcs, etc. Reliable relational mapping and chaining amendments is the complex part.

[Levered Lenny @LeveredLenny]

@timthecpa @CashionEast It’s more about the architecture of the file system and building it to cost effectively extract and structure terms to be used in powering calcs, etc. If you just OCR and store the data, the context window and costs will be too big at scale. Fine for smaller use cases I guess.

[Levered Lenny @LeveredLenny]

@HowardRoark90 @bot Have they found you any deals yet?

[Levered Lenny @LeveredLenny]

@robbiehendricks Are you going to fund tho?