For investors
Five questions to ask any real estate operator.
Use these to vet anyone you're considering investing with — including us. We've answered each one with what you should be looking for, and what we actually do.
Question 1
What does your reporting cadence actually look like?
Why it matters
Vague reporting promises ("we keep investors informed") are the most common red flag. Sophisticated LPs want to see the actual artifact before they wire capital.
What a good answer looks like
A specific cadence (e.g. quarterly), specific contents (property-level P&L, rent roll, occupancy, market conditions), and specific delivery (PDF, dashboard, email).
How Fairmeadow answers
Quarterly property-level reports covering rent roll, occupancy, operating P&L, capex, and market notes. Investors see the full artifact for Deal #1 on the Track Record page before they ever commit capital.
See the Track RecordQuestion 2
How do you stress-test a deal before closing?
Why it matters
"Conservative underwriting" is claimed by every operator in the space. The only meaningful version of the answer names specific adverse scenarios the model survives.
What a good answer looks like
Explicit scenarios: rising vacancy, rate hikes at refinance, deferred maintenance, rent stagnation. The pro forma must still produce positive cash flow under each.
How Fairmeadow answers
Every deal is modeled against rising vacancies, rate hikes, and deferred maintenance before we offer. If the numbers break under pressure, we pass — full stop. The framework lives on the Resources page.
Read the Underwriting FrameworkQuestion 3
What's your track record — and is it public?
Why it matters
Paper underwriting is different from a real closed deal. Many operators talk in pipeline. Few publish actual closed-deal financials.
What a good answer looks like
A complete list of closed deals with purchase price, financing structure, current rent, occupancy, and operating performance against the original underwriting.
How Fairmeadow answers
One deal closed (West Boulevard duplex, April 2025). Full purchase, financing, rent, and occupancy on the public Track Record page — not gated behind an investor portal. We'd rather be honest about being early than pad the deck.
View Deal #1Question 4
Where is your own capital at risk in each deal?
Why it matters
Operator alignment is structural, not philosophical. If they don't have meaningful capital next to yours, their incentive is volume — not outcomes.
What a good answer looks like
Founder/GP equity contribution in every deal, disclosed at the deal level. Not just acquisition fees and a promote.
How Fairmeadow answers
Founder equity in every deal. Garrett invests his own capital alongside LPs in each acquisition — not as a sweep into a fund-level vehicle. The percentages and absolute dollars are disclosed in each deal memo.
Read Garrett's StoryQuestion 5
What happens if a deal underperforms the underwriting?
Why it matters
Most operators only rehearse the success pitch. The adverse-scenario answer reveals whether they have a real plan or just hope.
What a good answer looks like
A written plan: trigger metrics, communication cadence under stress, capital-call vs. distribution-pause vs. refinance options, and how decisions get made.
How Fairmeadow answers
A written adverse-scenario plan attached to every deal memo: trigger thresholds (occupancy, DSCR), monthly communication (instead of quarterly) once a threshold is crossed, and a clear hierarchy — preserve capital, then preserve cash flow, then optimize for return.
See the Strategy