Adam Rose

Competed with a direct offer on this and generated $3M+ in additional proceeds for the seller. Feels good to see the power of a competitive marketing process.

@JMGregorchuk Not sure, I'm just the messenger

@AdamRose_RE How can I support them?

A ~700 home development is proposed in Moorpark, CA. This is what the path to approval looks like: Environmental study alone: ~2 years Earliest ballot date: 2030 Homes ready to sell: 2032–2033 at the earliest Another reason why California has a housing shortage.

@AdamHKlein Owner: “it’s NNN” Reads the lease: “How about that roof and structure”

A little louder for the uninitiated 📢 “Triple Net” properties are NOT always 100% management-free

@EAndkhoy @lawyer4SMBs You have the cross linking for keratoconus?

@lawyer4SMBs I’ve had keratoconus for 15 years now and have had to do the piggy back method for maybe 12 years. I now wear scleral lenses. Not sure if you’ve tried those but they’re still contacts nevertheless.

I'm getting implantable contact lenses (ICL) tomorrow. I'm blind as a bat. Tired of wearing contacts. Research says this is the least risky option for permanent correction. Anyone got any last minute stories/advice/cautions or desire to talk me out of it? 😎🤓

@_apryor My buddy who works for Amazon told me millions of people say thank you to their Alexa device every week

Unashamed to admit I reply with "thank you" and "please" to LLM's

@Snowball_Dev They like industrial SLBs right now

Found out today that Blue Owl bought a 7 cap sale leaseback with 2% rent bumps for 30 years (10 fixed + 4 x 5 yr renewals). Hartford Industrial. I guess thats better than lending to PE backed software firms.

@reelestateDave Also says “very walkable” lol

@AdamRose_RE Surprised it snuck through the checks

While someone listed this on CoStar and it's 100% fake, read the sale notes for a good laugh

@ClintFiore Similarly, a big reason sale-leasebacks don't pencil for real estate attached to M&A. The business usually can't support a market rent to justify the value

Got a seller lead yesterday I was very excited about. Go Kart track doing $1.2M revenue and ~$300K SDE. Found out he wants $6M for the biz and Real Estate. Found out he's already had an offer for $4M for just the Real Estate. I ended up telling him to take the $4M offer and relocate or liquidate the biz, and that I wasn't going to be able to get a cash flow seeking biz buyer to pay more than $4M for the package intact. Sometimes the right financial answer isn't keeping a profitable business going unfortunately. I know y'all ain't about to pay 20X earnings to keep this thing a go kart track.

@ShowMeYourCIM You almost always should, even if you’re leasing

Industrial/Manufacturing Buyers: how often are you getting a phase 1 environmental? Assume opco acquisition only and you’ll lease the real estate.

@FromWhiteCastle Thank you! Had to move fast because the direct offer was unfortunately very real.

@AdamRose_RE Congrats! (And I’ll bet you had to move really quickly for fear of the direct offer disappearing)

Competed with a direct offer on this and generated $3M+ in additional proceeds for the seller. Feels good to see the power of a competitive marketing process.

@SinaiLawFirm @rarepragency I like EKA. Have some bias though

If you are in California real estate and not working with @rarepragency what are you even doing with your life You need a real PR agency to promote yourself, don't kid yourself

@AdamB1438 Didn’t know if it was an off-market discount. Figured I’d throw the idea out there

@AdamRose_RE It's possible that we could remarket them at a lower cap rate, but I don't want to claim that I'm better at selling them than the current guy selling them :-)

"Family Office"-types I have a lead on ~$3m worth of long-term, highly credit-worthy leased properties that we may be able to get at a 9% cap rate. (I suspect there will be 2x-4x more like this in the coming year.) These are great deals for a conservative investor because of the long-term secure cash-flows, but they're tough for me as a GP because they don't really produce a promote. If you'd like to hear about these opportunities, reach out by DM!

@JMGregorchuk @paleonormie Able to say where you’re trying to build these?

@paleonormie Im going to give it a shot with 20 of these in a Build to Rent community that once established can be turned into for sale condos or TIC

They wouldn’t sell. The kind of people who buy new builds would consider them too small

Question I sometimes get: why do investors like sale-leasebacks? It’s pretty simple. You get a long-term lease from a creditworthy company with predictable cash flow backed by a strong asset.

Some industrial buildings built in 2021 with a long-term lease signed at the time are worth at or below what it cost to build. Cap rates are much different now.

@DarkfireCapital Shima?

JFC, might have been the best steak I’ve ever had…

@WeddingVenueGuy Ever looked at a sale-leaseback of any existing locations to help fund the next?

Any private lenders out there that would fund this? Will likely go SBA but at some point I’ll get maxed on SBA loans and the whole process turns my hair gray