For example on highly competitive properties a concession can make your offer much less attractive.

And when rates are high, competition is lower, meaning cost basis is lower.

By carefully balancing the collateral and ensuring rigorous underwriting standards, it is possible to mitigate potential downsides while capturing the upside potential, providing a compelling investment proposition in a competitive market.Uses of Mezzanine Debt CapitalMezzanine debt can be deployed effectively in several ways, including:- Liquidity Provision: Providing liquidity to set aside interest reserves for first lien lenders and tax and insurance escrows required by the first lender.- Property Improvements: Funding additional property improvements such as renovations, HVAC work etc.- Operating Shortfall Coverage: Addressing operational shortfalls during challenging periods.Objectives of Mezzanine DebtThe primary objectives when using mezzanine debt include:- Project Stabilization: Completing renovations, construction, or improvements and then stabilizing the property with 90%+ occupancy.- Interest Rate Management: Buying time until interest rates normalize or decline.

Typically 1k and up depending on property value and competition for taking it off market.

The management business is more competitive than when I started in 2016, you need experience and/or an edge.

In a competitive environment this is helpful.

By presenting a competitive offer and demonstrating confidence in our ability to complete the project, we were able to close the deal successfully.

Do the properties you are analyzing need no renovation, light, or heavy?  

Be prepared to lower your rent below you competitors who include water in their rent to stay competitive. 

As we have witnessed in the past, specifically the years of 2020-2022, when rates dropped, everyone jumps in to buy a house, which drives up competition, which in turn makes housing prices go WAY UP to the point that people OVERBID on properties.