{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Episode 281. NOI Is Not Your Paycheck (And This Is Where New Investors Get Crushed)","description":"Most new investors think NOI equals cash in their pocket. It doesn\u2019t. In this episode, I break down what NOI actually is, how the capital stack works, why GPs get paid last, and how misunderstanding this one concept can destroy deals before they even start. If you want to avoid rookie mistakes and underwrite like a pro, this is required listening. ","author_name":"Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires","author_url":"http:\/\/smallaxe.libsyn.com\/website","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39434030\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/196633145"}