Jesse Di Lillo

Everybody gets paid when a deal closes.

The broker gets paid.

The lender gets paid.

The attorney gets paid.

The seller gets paid.

The question is:

Who's getting paid to tell you not to do the deal?

That's often the missing seat at the table.

Every acquisition should have someone whose job is to challenge assumptions, pressure-test the numbers, and protect the downside.

The larger the transaction, the more important that role becomes.

A renovated 1980s apartment building is not automatically Class A.

It may be a better deal.
It may be a better location.
It may even be a great investment.

But vintage still matters.

Class A is not just finishes. It’s construction, systems, layout, amenities, tenant base, and risk profile.

Underwrite the asset — not the marketing label.

Most investors hear “Class A” or “Class C” multifamily… but very few people actually understand what those labels mean.

And honestly, a lot of operators stretch the definitions to make deals sound safer, newer, or more institutional than they really are.

In this video, I break down:
• Class A multifamily
• Class B workforce housing
• Class C value-add assets
• Class D distressed properties
• and my favorite… “Class S” 😂

Because asset class is NOT just about renovations or granite countertops.

It’s about:
• age
• location
• tenant profile
• amenities
• operational quality
• and overall risk profile

A renovated 1980s property may be a great deal…
…but that doesn’t automatically make it “Class A.”

Understanding the difference matters because asset class directly impacts:
• risk
• cash flow
• maintenance
• tenant quality
• financing
• and long-term investment performance

What’s the craziest “Class A” deal you’ve ever seen marketed that clearly wasn’t? 👇