Deal write-ups, operating lessons, and the occasional opinion on the markets we work in. We’re building the firm first and writing about it second, so this updates when we have something useful to say.
Most groups buying mid-market real estate and businesses today are allocators. They model, they fund, they collect. We think the next decade of returns gets earned by people who actually run what they own.
Read the piece →Four characteristics tell us within an afternoon whether a community is worth diligencing. None of them are the cap rate.
Read the piece →HVAC, plumbing, electrical, roofing. Boring industries, durable cash flow, and an aging owner-operator class that almost no one is positioned to buy from properly. We think it’s one of the best risk-adjusted bets in the Midwest right now.
Read the piece →Want a note when the next one goes out?
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