{"id":38328,"date":"2026-05-12T17:05:07","date_gmt":"2026-05-12T17:05:07","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=38328"},"modified":"2026-05-12T13:05:46","modified_gmt":"2026-05-12T17:05:46","slug":"what-they-still-dont-teach-you-at-cbre","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/what-they-still-dont-teach-you-at-cbre\/","title":{"rendered":"What They Still Don\u2019t Teach You At CBRE"},"content":{"rendered":"<div class=\"postie-post\">\ufeffBy Larry Chiang<br \/>\n18.  TVPI vs. DPI, IRR, MOIC \u2013 Simple comparison table. 19.  Good TVPI Benchmarks: 1.5x+ for family offices. 20.  Gross vs. Net TVPI (fees eat returns). 21.  Real Example: VC fund hitting 2.3x TVPI. 22.  Why TVPI Matters for Illiquid CRE Assets. 23.  Case: Hypothetical multifamily deal TVPI calc.\u202824-30. Step-by-step TVPI calculator walkthrough (7 slides with examples). 24.  Common TVPI Pitfalls in CRE. 25.  #PRPRPI: Patterns in over-leveraged deals killing TVPI. 26.  Historical Rhymes: 2008 CRE crash TVPI lessons. 27.  Austin-Specific: Turning around a property  using #ExternalAPI 28.  Visual: API\u2019s mapped and TVPI growth curve chart. 29.  Interactive: Quick audience TVPI brainstorm with an eye toward vision mapping a self-audit. 30.  De-Risking Entry Point: Use TVPI as your North Star metric. 31.  #RMRMRE Rule: Only chase deals with path to 1.8x+ TVPI. 32.  Treasure Management Tie-In (#ch2): TVPI as treasure tracking. 33.  Summary Graphic: TVPI in one image. Section 3: Applying TVPI to Commercial Real Estate (Slides 41-70) 41.  CRE vs. Traditional PE: Similar illiquidity, different risks. 42.  Multifamily, Office, Industrial, Retail \u2013 TVPI Profiles. 43.  Austin Market 2026: Data + projections. 44.  Cap Rate Compression &#038; TVPI Impact. 45.  Leverage &#038; TVPI: When debt boosts, when it kills.\u202846-55. 10 Real CRE Deal Case Studies (TVPI calcs, before\/after). 46.  #PRPRPI Patterns: Spotting winners early (location, sponsor, exit). 47.  Family Office Angle: Multi-gen wealth preservation via TVPI. 48.  Co-Investment Structures for Better TVPI. 49.  JVs with CBRE: How they enhance TVPI. 50.  Tax Strategies &#038; TVPI (1031, opportunity zones). 51.  ESG Factors Boosting Long-Term TVPI. 52.  Tech Integration: PropTech for better residual value. 53.  Risk-Adjusted TVPI Framework.\u202864-70. Visual dashboards &#038; scenario modeling (7 slides). Section 4: De-Risking Playbook with #RMRMRE (Slides 71-110) 71.  #RMRMRE Core: Risk Mitigation, Minimization, Elimination.\u202872-80. 9 De-Risking Levers (one per slide: due diligence, structuring, ops, etc.). 72.  Pattern Recognition (#PRPRPI): Red flags &#038; green lights checklist. 73.  Insurance &#038; Hedging for TVPI Protection. 74.  Portfolio Construction: Diversification for stable TVPI.\u202884-95. 12 Austin\/Texas CRE De-Risk Case Studies. 75.  Family Office Governance for #RMRMRE. 76.  Exit Planning: Engineered for max TVPI. 77.  Crisis Simulation: What happens in downturn? 78.  #ch2 Integration: Treasure mapping your CRE pipeline. 79.  Tools &#038; Templates: Downloadable #RMRMRE scorecard.\u2028101-110. Advanced Tactics (10 slides: syndication, secondaries, etc.). Section 5: Treasure Management #ch2 Deep Dive (Slides 111-130) 111.  #ch2 Intro: Treasure Management Beyond Cash \u2013 Access, Credit, Flows. 112.  Larry\u2019s Treasure Map Framework (visual). 113.  CRE as Treasure: From acquisition to generational wealth.\u2028114-120. 7 #ch2 Subroutines for CRE (credit hacks, founder financing analogs, etc.). 114.  Cold Shower Analogy: Building resilience for de-risking. 115.  Pattern Recognition in Treasure Hunting (#PRPRPI). 116.  St. Patrick\u2019s Day 24\/7: Finding pots of gold in CRE. 117.  Creative Financing for Better TVPI Entry. 118.  FICO \u2192 CRE Score: Building institutional credibility. 119.  Mentoring &#038; Networks: Human capital in treasure mgmt. 120.  #RMRMRE + #ch2 Synergy Graphic. 121.  Common Treasure Traps in Family Offices. 122.  Daily\/Weekly Treasure Routines. 123.  Case: Applying #ch2 to a $50M CRE portfolio. Section 6: Implementation, Q&#038;A, Close (Slides 131-150) 131-140. 10 Action Steps Checklist (implement tomorrow). 141. CBRE Partnership Opportunities for TVPI Alpha. 142. Metrics to Track Post-Event. 143. #PRPRPI Homework: Audit one holding this week. 144. Resources: Books, videos, contacts (LarryChiang.com style). 145. Final Visual: Treasure map with TVPI paths. 146. Key Takeaway: De-risked CRE = Repeatable #RMRMRE Wins. 147. Call to Action: Schedule family office deep dives. 148. Q&#038;A Slide. 149. Thank You + Contact (650-283-8008 vibe). 150. Bonus: \u201cWhat They Don\u2019t Teach\u2026\u201d closing quote + group photo prompt. This outline is ready to build in PowerPoint\/Google Slides\/Keynote<br \/>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-38328 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.duck9.com\/blog\/what-they-still-dont-teach-you-at-cbre\/screenshot-39\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/www.duck9.com\/wp-content\/uploads\/2026\/05\/image0-4-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"gallery-1-38329\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-38329'>\n\t\t\t\tScreenshot\n\t\t\t\t<\/dd><\/dl>\n\t\t\t<br style='clear: both' \/>\n\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ufeffBy Larry Chiang 18. TVPI vs. DPI, IRR, MOIC \u2013 Simple comparison table. 19. Good TVPI Benchmarks: 1.5x+ for family offices. 20. Gross vs. Net TVPI (fees eat returns). 21. Real Example: VC fund hitting 2.3x TVPI. 22. Why TVPI Matters for Illiquid CRE Assets. 23. Case: Hypothetical multifamily deal TVPI calc.\u202824-30. Step-by-step TVPI calculator [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-38328","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/38328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=38328"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/38328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media\/38329"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=38328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=38328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=38328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}