Jason Richards

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Jason Richards

Jason Richards

@SimpleCRE

I like real estate and LP investing. Principal of a CRE firm/fund. Former @NAIGlobal Board Chair. *Not selling a course.

Greenville, SC Inscrit le Aralık 2020
686 Abonnements13.5K Abonnés
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Jason Richards
Jason Richards@SimpleCRE·
I started investing in real estate at a young age and thought I knew it all. I was wrong, and I've learned over two decades that an established network of expert providers is essential to make it in this business. A thread of the contacts every property investor should have: 👇
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Jason Richards
Jason Richards@SimpleCRE·
@redwood_ryan_a That’s one of the OG ones. Used to be Greenville car wash on Laurens and Canopy on Wade Hampton.
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Jason Richards
Jason Richards@SimpleCRE·
Our market went from maybe 3 premium car washes ten years ago to probably 40 now. What is happening?
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Jason Richards
Jason Richards@SimpleCRE·
@1tommyblake Surprised Walmart and Costco haven’t done it (at least that I know of)
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Tommy’s
Tommy’s@1tommyblake·
@SimpleCRE HEB grocery store just built a $10 Drive thru. Dropped my membership at fancy car wash. Game Over!!!!!
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Jason Richards
Jason Richards@SimpleCRE·
@RHMultifamily Yep - it's clearly a location driven discount, but... wow... I just can't get over how nice it looks. I hope the area is on the upswing if it truly isn't great.
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Ryan Haggerty
Ryan Haggerty@RHMultifamily·
@SimpleCRE Location, location, location. Stunning interiors and facade, but most of the money left a while ago in response to high petty and violent crime. Seems like things are shifting, similar with Detroit, so who knows in the coming generation vs suburbs.
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Jason Richards
Jason Richards@SimpleCRE·
I know that it's neighborhood and market specific, but it's WILD to me that this restored 1800s mansion in Louisville that includes a 3BR carriage house is listed for $1.15 million. A beautiful property!
Jason Richards tweet mediaJason Richards tweet mediaJason Richards tweet mediaJason Richards tweet media
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Jason Richards
Jason Richards@SimpleCRE·
@jonbrooks Makes more sense to me there with the humidity and the salt air along the coast, especially.
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Jon Brooks
Jon Brooks@jonbrooks·
@SimpleCRE we have a tremendous amount of cash washes in florida too
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Jason Richards
Jason Richards@SimpleCRE·
@CaseyMericle I think I have this right - there was a third party owned car wash next to the plant to which BMW gave its employees (only the ones who drove BMWs) free access. But then they realized it would make more sense to have their own, so they built one on the campus.
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Jason Richards
Jason Richards@SimpleCRE·
@dsidgrant I would think self-serve would be the way to go from an ownership perspective.
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GreenAcres
GreenAcres@smellsofbourbon·
@SimpleCRE What about an A+ location in a C market and a 7.75cap rate?
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Jason Richards
Jason Richards@SimpleCRE·
Seeing a LOT of CVS/Walgreens properties come on the market with 3-4 years left on initial term. Give me the right cap rate and a B+ or better location, and I'll take that risk.
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Jason Richards
Jason Richards@SimpleCRE·
@MarshalSingh7 May take you up on that. There is real value in understanding the nuances of those buildings.
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IRRMerchant
IRRMerchant@MarshalSingh7·
@SimpleCRE I have a broker that backfills those all day, let me know if you want me to connect you to him
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Jason Richards
Jason Richards@SimpleCRE·
@JaleneCooke I think it's an HOA without rules, which maybe ironically is the worst kind of HOA?
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Jalene Cooke
Jalene Cooke@JaleneCooke·
@SimpleCRE Sounds like a HOA, what am I missing? Or do they just call it something else for the sake of optics?
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Jason Richards
Jason Richards@SimpleCRE·
Just saw this in a listing for a townhome: "There is no HOA fee. This community fosters a cooperative environment where homeowners share insurance costs, ground maintenance responsibilities, and collectively decide on enhancements to common areas." Would you buy into that?
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Jason Richards
Jason Richards@SimpleCRE·
@PoisedM1 Yeah, that's kind of how I felt. HOAs stink, but at least it's a process that stinks. This seems like it's primed for total chaos.
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Jason Richards
Jason Richards@SimpleCRE·
@shawngorham There are so many who say that college (especially liberal arts) is a waste of money. But I can’t think of a more critical time than now to have an understanding of politics, history, economics and science. Education is always good and useful.
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Shawn Gorham
Shawn Gorham@shawngorham·
Amazing how many are anti college. Let me remind you there are still noble careers that require college. To name a few: Doctor Lawyer Engineer And well, regardless of how you view Harvard, graduating from Harvard in any of the fields above is a big deal and makes a difference.
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Jason Richards
Jason Richards@SimpleCRE·
@thegeneralmills Agree that, at a base level, an accomplished GP or fund manager shouldn't be marketing their fund on social media anyway. Success breeds reinvestment from existing investors and word of mouth demand from their friends/associates.
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Mills Snell
Mills Snell@thegeneralmills·
@SimpleCRE I’ve found that the people who market their deal results also make me skeptical. Best deals I have been in have been word of mouth, capital sourced quickly from “in- network”, and familiar counterparties can move quickly.
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Jason Richards
Jason Richards@SimpleCRE·
If someone you're thinking of investing with spends more time marketing their lifestyle than their deal results, you may want to reconsider.
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Jason Richards
Jason Richards@SimpleCRE·
The answer to every question about what's normal in real estate investing starts with "it depends."
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