How to Reconcile a 15 IRR With a 25 IRR

The lack of humidity makes 10 degrees in Denver feel like 30 degrees in Philadelphia. And the weather, when is the snow season? Doesn't it warm up relative to other parts of Colorado pretty quickly? It does. But where I grew up in Western Mass,. where I went to college in Philadelphia, a snowflake falls in November. And that same snowflake is on the ground in March. Yeah. If you get nothing else from this podcast, you do know that snow melts deep inside the cave. You came from Wall Street. There's only so much advantage you could have in that world. Then you look at sub-institutional real estate and you could say, there's alpha there

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