Courses / Recon

Recon

The complete four-phase framework. Learn to identify the phase your market is in, read the indicators that move first, and run acquisitions, operations, and dispositions accordingly.

3Parts
10Lessons
63Questions
ECFCertification
01 / RECON Recon ONE READ · THE FRAMEWORK YOU ARE HERE

$997

In full, or 3 payments of $349 · Lifetime access

Join the enrollment list See curriculum
  • 10 lessons · 61,151 words · ~4.6 hrs reading
  • Cycle Score assessment + monthly re-takes
  • Signal Cards Tier 1 deck — physical + digital
  • 9 Knowledge Checks · 63 questions with explanations
  • ECF certification on completion
  • Lifetime curriculum updates
Overview Curriculum Instructor FAQ

Overview

Same disciplines. Different phase. Different answer.

Every program in this industry teaches acquisitions, operations, and dispositions as if the market were a constant. It isn't. The right rent strategy in expansion is the wrong one in hyper supply. The acquisition that builds a fortune in recovery destroys equity at the top.

Recon teaches you to establish where you are first — then gives you the playbook for that position across all three disciplines.

What you'll be able to do

Name the phase your submarket is in, and defend it
Separate leading indicators from trailing confirmation
Spot correlation being sold as causation
Adjust underwriting to phase rather than to sentiment
Set rent and renewal strategy by cycle position
Recognize a disposition window before comps confirm it
Price the cost of a tax or lender deadline against your read
Build a repeatable indicator dashboard for your markets

Curriculum

Three parts. Ten lessons.

Ten lessons across three parts — 61,151 words, roughly 4 hours 38 minutes of reading. Nine Knowledge Checks, 63 questions, every answer explained. You don’t advance by scrolling.

ONEAnatomy of Market Cycles and The Forces That Drive Them4 lessons · 39 min · 28 Qs
1.1.1What Is a Market CycleThe Foundation of Cycle-Aware Multifamily Investing13 min7
1.1.2Introduction to The Four PhasesUnderstanding the Signals, Strategies, and Risks19 min7
1.1.3The Big 3A Brief History of Market Cycles4 min7
1.2The Dynamic DuoNational and Local Market Signals3 min7
TWOThe 4 Phases Of a Market Cycle4 lessons · 209 min · 28 Qs
1.3.1The Recovery PhasePhase 166 min7
1.3.2The Expansion PhasePhase 245 min7
1.4.1The Hypersupply PhasePhase 343 min7
1.4.2The Contraction PhasePhase 455 min7
THREEThe Closing Summary2 lessons · 31 min · 7 Qs
1.5The Phase TransitionsReading the Turn13 min7
1.6The BridgeMapping Your Prior Education Across the Cycle18 min
Benjamin Inman working through the Econiq framework

Instructor

I didn't lose properties because I picked bad deals. I lost them because I bought into a phase with the wrong equity, lender, and partners.

Over $500 million in multifamily acquired. 4,500 units operated across two full cycles — the first as an employee inside a multifamily company, the second as investor and operator. More than $150 million raised. Markets across the Southeast — Nashville, Atlanta, Jacksonville, Daytona Beach, Greensboro, Knoxville, Houston, Orlando, Tallahassee.

I bought well in 2017 without being able to explain why. I exited most of a portfolio ahead of the 2022 repricing on instinct. Then I deployed into markets already tipping into oversupply, bringing institutional JV partners in to offset the timing. It didn’t work — you cannot out-operate the phase you bought into.

This is the framework I couldn't find when it would have mattered.

Read the full story →

FAQ

Questions.

Will this tell me when the market is going to turn?

No. The sequence of indicators is reliable and documented back through the 1800s. The timing and severity are not. This teaches you to read the ordering earlier than operators watching trailing data — not to name a date. Anyone promising a date is selling something.

I haven't done a deal yet. Is this too advanced?

No, and arguably you're the ideal student. The expensive mistakes happen on the first few deals, and phase awareness costs nothing to learn before capital is committed.

How long does it take?

About five and a half hours of material. Most people run it over two weeks so the submarket exercises have time to sink in. It's self-paced and access doesn't expire.

What's the difference between this and Special Ops?

Recon is the framework. Special Ops is applying it live, in a cohort, against your actual pipeline — including the full Collision case study with dates and numbers.

Do I need Cignal System?

No. Recon teaches the read manually, which is how you should learn it. Cignal automates it once you know what you're looking at.

Next

After Recon.

Enroll

Recon is open now.

Ten lessons, 63 questions with full explanations, the Recon Capstone Workbook, and ECF certification on completion.

Join the enrollment list Take the Cycle Score first