Short posts from Brent on how NPI runs on AI: deal screening, underwriting, PM diligence, and operating with a team of one.https://neelypi.com/en-ushttps://neelypi.com/journal/debt-is-where-deals-die/https://neelypi.com/journal/debt-is-where-deals-die/We spent six weeks working a local credit union for the debt on a couple of our deals. None of it turned out to be a deal term. It was a credit committee slowly talking itself out of the loan. Here's what that taught me about the part of a deal nobody markets to you.Fri, 19 Jun 2026 00:00:00 GMTUnderwriting discipline / debt structurebrent@neelypi.com (Brent Neely)https://neelypi.com/journal/pricing-power-what-i-believe/https://neelypi.com/journal/pricing-power-what-i-believe/A breathless "pricing power is back" alert from my property manager hit my inbox this week. I delete most of these. But two numbers in it confirmed the thesis I've been buying Boise on for two years.Fri, 12 Jun 2026 00:00:00 GMTBoise thesisbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/financial-plan-in-a-morning/https://neelypi.com/journal/financial-plan-in-a-morning/I spent a morning not chasing anything. I sat down with Claude and built one view of my entire financial picture, off my actual bank statements instead of my estimates. Two things surprised me, and one of them stung.Thu, 11 Jun 2026 00:00:00 GMTAI-as-on-rampbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/pm-dashboard-30-minutes/https://neelypi.com/journal/pm-dashboard-30-minutes/Three PMs in Boise, a day's work each to evaluate the hard way. I asked Claude Code to build me a dashboard instead. The dashboard was running before my coffee was cold.Thu, 04 Jun 2026 00:00:00 GMTAI-as-on-rampbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/why-the-wealthy-invest-in-real-estate/https://neelypi.com/journal/why-the-wealthy-invest-in-real-estate/Most high-income earners are told the formula is simple: work hard, save money, max the 401(k). Watch how the wealthy actually build wealth and you see a different pattern.Thu, 04 Jan 2024 00:00:00 GMTEarlier writingbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/what-is-real-estate-syndication/https://neelypi.com/journal/what-is-real-estate-syndication/A plain-English explanation of the structure most accredited investors have never heard of, but that wealthy families, private equity firms, and insiders have used for decades.Wed, 03 Jan 2024 00:00:00 GMTEarlier writingbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/how-real-estate-creates-tax-advantaged-income/https://neelypi.com/journal/how-real-estate-creates-tax-advantaged-income/Real estate is one of the few asset classes that lets you earn cash flow and show a paper loss in the same year. Why that works, and what the K-1 actually shows you.Tue, 02 Jan 2024 00:00:00 GMTEarlier writingbrent@neelypi.com (Brent Neely)https://neelypi.com/journal/how-you-actually-get-paid-in-a-real-estate-syndication/https://neelypi.com/journal/how-you-actually-get-paid-in-a-real-estate-syndication/The mechanics of distributions, preferred returns, profit splits, and refi/sale proceeds. A simplified worked example showing where the money actually goes.Mon, 01 Jan 2024 00:00:00 GMTEarlier writingbrent@neelypi.com (Brent Neely)