Why We Passed · 4 min read ·
Why We Passed
Why Cardinal Oak passed on a Bowling Green, KY apartment deal in 2024: what we liked, the red flags, and what the market has done since.
Field Notes
The evidence behind how we invest.
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New to passive investing? Read these in order. Each one takes a few minutes.
- Step 1Multifamily Real Estate Investing for Beginners4 min read
- Step 2Five things that go wrong that your sponsor may not share4 min read
- Step 3Reading a deal package: find what's missing first4 min read
- Step 4Talk it through with JohnA twenty-minute call, no pitch
This week’s note · Why We Passed
Why We Passed
Why Cardinal Oak passed on a Bowling Green, KY apartment deal in 2024: what we liked, the red flags, and what the market has done since.
All notes
Investor Questions · 4 min read ·
Five things that go wrong that your sponsor may not share
The honest answer to what a sponsor may not share before you invest: five things that go wrong, and the questions to ask before you wire money.
Investor Questions · 4 min read ·
Multifamily Real Estate Investing for Beginners
A plain guide to multifamily real estate investing for beginners: how syndications work, how money moves, and what to ask before you invest.
Investor Questions · 4 min read ·
From a single-family mindset to a multifamily mindset
How John Todderud moved from single-family rentals to multifamily investing, what risks drove the shift, and what to ask before you make it.
Underwriting Notes · 4 min read ·
Value add isn't dead yet
Rents flattened after renovation, but value add still works. Cardinal Oak explains why the right baseline, and the right plan, still pay off.
Underwriting Notes · 3 min read ·
Why go big: what a 100-unit property does that a 20-unit can't
Why larger apartment properties often beat small ones for passive investors: scale, vacancy risk, management, financing and exit options.
Underwriting Notes · 4 min read ·
Reading a deal package: find what's missing first
How we read a multifamily deal package at Cardinal Oak: what we check first, the numbers brokers leave out, and why we assume something is hidden.
One Field Note a week, by email.
Field Notes and other educational emails on multifamily investing. No deal pitches.