Inspectable before you sign
The deliverable is an underwriting artifact, not an opinion: the carry ledger, the buyer map, the schedule for changing course if the market disagrees. Check the reasoning before committing; hold it to account afterward.
Naples · FL, USA · 26.1420° N
26 North is a real estate research and underwriting practice in Southwest Florida. We test whether a deal works before anyone markets it — then carry the same evidence through positioning, sales, and representation.
01 / Why we exist
A client hires once every seven to ten years, never observes the outcome the property would have had under different advice, and cannot separate a good decision from a rising market. So the work gets judged on presentation rather than on whether it was right.
We work the other way. Every engagement produces something inspectable before you commit — the evidence behind the recommendation, the carry math, the buyers by origin, and the plan that changes if the market disagrees with us. You can check it in advance and audit it afterward.
02 / The practice
Each line stands alone. Taken together they are a single chain of evidence — the research feeds the underwriting, the underwriting governs the marketing, and the representation carries both to closing.
Parcel, neighborhood, buyer-origin, absorption, rental, insurance, and competitive-product research assembled to answer a specific decision — not to fill a dashboard.
For those who acquire, reposition, and resell: sourcing of candidate properties, acquisition underwriting, exit strategy set before the offer, and the repositioning of product the market has passed over.
Product definition, unit mix, entitlement strategy, approvals, cost and schedule discipline, and owner-side coordination from a viable concept through closeout.
Product narrative, identity, renderings, offering materials, web, lead capture, launch strategy, and sales feedback — marketing governed by the underwriting.
Buyer representation, acquisition search and screening, offer strategy and negotiation, listing and disposition, and closing coordination — representation carrying the same evidence that underwrote the deal.
The first conversation is not a pitch. It establishes whether there is a real question here, and what it would cost to answer properly.
Begin a conversation →03 / The evidence base
Six databases and millions of records, joined and reconciled by methods we built and do not publish. The model is checked against real outcomes and refreshed continuously — what leaves the practice is the conclusion, never the machinery.
04 / What we are
26North Research studies the Naples market the way an investor would — property by property, owner by owner — and turns what we find into a clear answer: what the evidence supports, who the likely buyer is, and what to do next.
What we studyEvery engagement starts as research. It can stay research — or become the underwriting, the marketing, the development plan, and the deal itself.
05 / The standard
Three commitments that survive contact with a live deal — and that an incumbent cannot answer without becoming us.
The deliverable is an underwriting artifact, not an opinion: the carry ledger, the buyer map, the schedule for changing course if the market disagrees. Check the reasoning before committing; hold it to account afterward.
The research that answers the decision is the research that shapes the product and briefs the sales effort. Nothing is re-argued at the next stage, and marketing never quietly overrides what the numbers said.
Engagements deliver conclusions and the reasoning behind them. Underlying data assets and methods stay with the practice — which is what keeps the analysis worth commissioning.
06 / How an engagement runs
Four steps and a written scope, agreed before the work begins.
A conversation to establish what decision is actually being made, and what would have to be true for the answer to change.
A written scope naming the deliverable, the evidence it will rest on, and the timeline.
Research, model, and written findings — including the cases where the honest answer is that the deal does not work.
Where wanted, the same evidence carries into positioning, launch, and representation through closing.
Begin a conversation
The first conversation is not a pitch. It establishes whether there is a real question here, whether we are the right people for it, and what it would take to answer properly.