The Capital Letter

A correspondence on private lending,
for the people building portfolios.

A note every other week on private lending, market shifts, and what real estate investors are actually doing right now. Operator perspective, no fluff, no pitches you didn't ask for. If a deal breakdown, a rate move, or a new program is worth your time, you'll see it here first.

Sent by The Pinnacle Team. Replies come straight to us.

What's in a typical issue

Four things, none of them ads.

01

A rate or program move worth knowing about

When a lender opens a new product, drops a minimum, or pulls back on a guideline, you hear it from us before the rest of the market reprices.

02

A deal breakdown, with the numbers

An anonymized recent close. Purchase price, rehab, ARV, financing structure, exit. The kind of detail that shows you what's actually possible right now.

03

A market or submarket the data is pointing at

Where capital is flowing, where it's leaving, and which neighborhoods and price bands are quietly working for our investor borrowers this quarter.

04

One tactic from operators we work with

A specific move someone made. How they structured it, what it cost, what it returned. Operator to operator, no theory.

A two-story home in mid-build, scaffolding still up against the framing under an open sky.
In progress. Still the most interesting part of any deal.
Quiet correspondence

Two issues a month. That's it.

No daily blast. No drip funnel disguised as a newsletter. Two notes a month, written by the people closing the loans, sent because we have something worth saying. Unsubscribe in one click any time. We will not miss you, but we will respect you.