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
DSCR Is for Lenders — But Investors Should Love It Too
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DSCR is one of the most talked-about metrics in real estate — and for good reason. It answers the most basic question every leveraged investor feels: can this property pay the mortgage?
In this episode, Louis Hiza breaks down why DSCR matters to both lenders and investors, while explaining why it’s still only one piece of the puzzle. Through several real-world deal examples with actual numbers, he shows how a property can have a strong DSCR but weak investor returns — or a lower DSCR with far better capital efficiency.
Along the way, we explore how Debt Yield, Equity Yield, and margin-of-safety metrics reveal the deeper structure of a deal and help investors understand not just whether a loan survives, but whether the investment truly performs.