Your uncle passed away and left you $10 million with the stipulation that it be invested in real estate in the next 90 days. As word of your newfound wealth leaked into the real estate brokerage community, a line of brokers formed outside your door. You should buy this office building said the first broker, Ira Our. At $20 million youll have to borrow money to buy it, but I know an Office Building REIT that wants to buy it for $21 million. The problem is that their Investment Committee doesnt meet until next week and the Seller needs a binding Letter of Intent this week. You can flip the building in 45 days to the Office Building REIT and, after all expenses, pocket a quick $500,000. It works out to a 32.5% Internal Rate of Return. How are you going to beat that? What are the practical and theoretical weaknesses in the investment/valuation methodology of Ira Our?