Your model should indicate how much you should pay for the desired return.In an unpredictable market like this one, I would be cautious about 1) valuing deals using proforma NOIs and 2) utilizing the capitalization technique solely to value levered acquisitions.

Real estate investors should be cautious, as the spread to risk-free is not sufficient compared to other asset classes that come with higher risks.

Newbie here this eviction moratorium has me cautious and not actively pursuing and stacking more capital.

@Nathan G. and @Jay Hinrichs I agree that you have to be cautious as to where you are buying as the REIT and other regional players have definitely bumped up the supply in the primary markets. 

I love the concept of creating notes with MP's, but I'm a bit cautious about this type of business in the California market.

I have a fair amount of experience with loans but am still very cautious about my knowledge level when it comes to this stuff.

I've been successful in RE so far (I've been very cautious and slow, perhaps too much so).

If you do so, my only advice is to be cautious when you do so, because it's a seller's market and prices tend to be inflated in many cases.

I think you will see a gap get wider and wider.. the landlords with the decent rentals are going to be uber cautious going forward the tenant that  cant check all the box's is going to get forced to look as less quality housing were the landlords might be more lenient given the quality of  their product.

It's solidified my resolve to stick to the cautious approach.