Beyond IRR
Beyond IRR is a real estate investing podcast focused on what actually drives performance — not just the headline returns.
Hosted by the team behind BHPA, this show breaks down the metrics, structures, and assumptions behind real estate deals. Each episode goes deeper into topics like IRR, cash flow durability, leverage risk, volatility, capital structure, and exit sensitivity — helping investors think more critically about how returns are generated.
If you want to move beyond surface-level analysis and understand the mechanics behind the numbers, this podcast is for you.
Beyond IRR
IRR Is a Storyteller
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IRR is the most cited metric in private real estate investing — but what is it actually telling you?
In this episode, we break down how Internal Rate of Return works, why it heavily rewards early cash flows, and how refinance assumptions, exit cap rates, and leverage decisions can dramatically influence projected returns. Through real numerical examples, we examine where IRR is useful, where it can mislead, and what it fails to capture about risk and durability.
If you’ve ever compared deals based solely on headline IRR, this episode will give you a more disciplined framework for evaluating what’s really driving performance.