278: Christine Kwasny’s Risk Radar: A Framework for Smarter LP Deal Reviews

June 23, 2026

In this episode, Chris Lopez welcomes Christine Kwasny back to the show to break down the Risk Radar, a visual due diligence tool she built to help LP investors better understand where risk shows up in a private real estate deal. The tool grew out of Christine’s Substack, Net Zero Is a Win, where she publishes retrospective deal analyses on what went right, what went wrong, and what investors may have been able to identify in the original offering materials.

Christine walks through the Risk Radar’s three major categories: what is fixed at closing, what is sponsor driven, and what is market driven. Chris and Christine discuss how LPs can evaluate GP team history, “cockroach” risks, going-in cap rates, debt terms, reserves, expense assumptions, capital stack structure, waterfalls, exit cap rates, supply and demand, rent growth, absorption, and vacancy.

They also explore why retrospective analysis is one of the best ways to test whether risk was visible up front, why market timing can dominate long-term outcomes, and how tools like AI may help investors gather better data without outsourcing their own judgment.

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

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14 days ago

Very interesting deal analysis tool! Thanks for sharing.

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13 days ago

Where do I find the link to download the graphic Christine described? Great educational session!!

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Christine Kwasny

8 days ago

Reply to scott-laubach

Library of all the Risk Radar materials (downloadable graphics, how-to guide etc):

Special preview link valid today.

Permanent link valid from July 5, 2026.

Please use and provide feedback – this is a working draft. Thanks!

Last edited 8 days ago by Christine Kwasny

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8 days ago

Reply to Christine Kwasny

Thanks Christine. I signed up for your substack and gained access last week. Love how you pulled all of these aspects together in one graphic.

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Christine Kwasny

7 days ago

Reply to scott-laubach

Great! Let me know if you use it against a current or exited deal to see how well it predicted any points of stress.

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