With people at so many different stages of their journey in this group, I’m curious… how have you all seen your underwriting change over time?
I feel like I’m getting better at what calls “visionary underwriting,” seeing a path to value 5 to 10 years from now, rather than underwriting for the 10 cap today. But I’m definitely still way more conservative than some of the people I’m losing deals to. Is this just because I’m a timid and inexperienced newbie? How have you all seen your underwriting change over time?