Brian C Scott

@Chazzym22 I began questioning last year whether some inquiries on a premium service were bots to make me believe there was some engagement. Life was also better before CoStar and Loopnet became one.

OK. I am conducting an experiment: I'm buying one CoStar Platinum listing upgrade for an investment listing I just put on the market. It will cost $2,500 a month just for this upgrade. I am actually VERY interested to see what happens. Any guesses?

@credealjunkie Poi

I made a Skill! Tired of spending hours (or telling your analyst to spend hours) putting together those POI maps no one ever looks at? Have Claude do it. Pop in the address, out pops a map you can drop into your deck or OM. Reply "POI" and I'll DM you the Skill.

Spent $2800 online @HomeDepot, shipper AAA Cooper @knight_swift is going to deliver whenever they feel like it, not when promised on website. Weather perfect. Sitting 2 hours away since Wed at 5 am. 4th new target is Tuesday 1-7. Store says they are terrible and don't trust it.

@SMB_Attorney LOI

We just released our 2026 Lower-Middle-Market LOI Template. Built from: > 500+ deals > $1.6B+ closed > And the busted ones It’s designed to reduce retrades and increase close probability. If you want the template, comment: LOI We’ll auto-DM you the download link. We’re on a mission to build the #1 LMM M&A firm and the #1 provider of value in the space.

@nickshirleyy The street view side of the building has a more legit storefront dating back for a decade, spelled correctly, and had a prior daycare as well. I have very little doubt that fraud was com.itted here but I want a more complete picture of the location to judge by. Thank you.

🚨 This is a prime example of the BILLIONS of dollars in fraud happening right now in Minnesota, this is one of the hundreds of “daycares” receiving millions of dollars from the government, this daycare (that can’t even spell learning right) received $1,900,000 in tax exempt funding from CCAP in 2025. This is just one of the 1,000’s of fraudulent businesses operating in Minnesota.

@KirkHerbstreit @TexasTechFB @Joey_Galloway Very kind words for Lubbock and thank you for the generous donation to the Ortiz family.

“The nicest human beings on the face of the earth” 🌎🇺🇸 @TexasTechFB #nonstop #Lubbock

@gunsupnation I really don't like the color change from dark red to a more pinkish tone. I wish they would have at least left the black outline. If they just wanted to remove the bevel to be like every other modern logo because it prints and scales easier, that is about a $20 job on Fiverr.

Now that enough time has passed, which logo do you like better? ⤵️

@texas_jeep_guy Some weird AI mixed in. I found these spellings: Buc-ee's, Buc-Ue's, Buc-Uee's, Buc-Be's, Buc-Cee's Buc-Gue's, Buc-Que's, Big-Que's And Be-Gue's It is all there, I promise, along with Donucs.

From a tiny Texas gas station to a roadside legend. What is your favorite snack?

I am Nate Anderson, the founder of Hindenburg Research referenced repeatedly in this bizarre and fantastical interview. During my career, I helped expose numerous financial scams, including over a dozen Ponzi schemes and numerous instances of public companies lying to and stealing from investors: hindenburgresearch.com/about-us/ I am immensely proud of that career including our work on Nikola Motors referenced in the interview. Trevor Milton is a convicted fraudster held criminally responsible for the incineration of hundreds of millions of dollars in retail investors’ hard-earned money. As should be unsurprising, Milton in this interview seems to just fabricate key events and information out of thin air – unfortunately with zero critical questioning or pushback from Tucker. For starters, contrary to Trevor Milton’s implications that his prosecution was some sort of Biden administration conspiracy, conveniently neither Milton nor Tucker share that the investigation into Milton was started and disclosed in September 2020 – under the first TRUMP administration and well before the 2020 election. There were numerous inaccuracies throughout the interview. The claim that Hindenburg paid employees for inside information is patently absurd. The key whistleblower discussed in the interview was only briefly a contractor for Milton. He was so horrified by what he viewed as Milton’s repeated false claims that he did a tremendous amount of research on his own, unraveling numerous additional suspected lies that Milton peddled to the investing public. Further, Hindenburg didn’t “coordinate” anything with media or the DoJ. Such entities ran their own investigations for their own purposes unconnected to us. There was ample evidence that Milton misstated numerous aspects of his business, as the company itself later acknowledged. It would take hours to write about all the other absurdities, half-truths, innuendos and false statements in this interview but in the interest of correcting some of the record, here’s a handful: - Milton waxes on about his pardon, but no one mentioned that Milton’s lawyer was Brad Bondi—the brother of AG Pam Bondi. Nor did anyone mention that Milton donated $900 thousand to Trump in October 2024, less than a month before the recent election—strategically timed well after his criminal conviction and immediately prior to the presidential election. Trump acknowledged he had never heard of Milton before being asked to pardon him but relied on others for the recommendation. - Milton failed to mention that immediately prior to his resignation from his company, beyond the extensive allegations of fraud, he was also publicly accused of multiple instances of sexual assault, including by his own cousin, who went on-the-record with her allegations. - I can only wonder what kind of investigation Tucker undertook of the fraud allegations against Milton before having him on. Milton literally video-taped a truck rolling down a hill implying that it was driving under its own power. He also went up on stage and said a truck that didn’t work “fully functions and works.” - Waxing poetic about hydrogen in the interview echoes Nikola’s lies to retail investors that it successfully produced hydrogen at a cost ~81% lower than anyone on earth, a feat that would have upended the entire energy industry had it been remotely true. Nikola’s head of hydrogen production, presumably in charge of this world-changing scientific breakthrough, turned out to be Milton’s own brother, who had no scientific background and previously did odd construction jobs in Hawaii. - These weren’t one-off misstatements—there were dozens of examples like these. As the DoJ said – and proved in court – Milton “made false claims regarding nearly all aspects of Nikola’s business.” The company itself admitted to many of these false statements, agreed to a $125 million fine, and won an arbitration against Milton holding him personally liable for his conduct. - Milton claimed that Hindenburg made $30m-$100m on our Nikola investment—this isn’t even close (we made a fraction of that). Trevor seems to just be making these numbers up out of thin air. Hilariously, Tucker opened by suggesting that short selling was illegal until 2007, a claim that is completely false. After confirming that he knows nothing about the subject, he went on to suggest that short selling should be criminalized outright. Short selling has existed for hundreds of years, and for good reason. Short sellers play a critical role in the functioning of healthy markets, similar to the role of investigative journalists, (which I presume Tucker considers himself akin to). Most companies are a force for good and economic growth. However, some companies lie and engage in fraud. Short sellers have exposed nearly every major corporate fraud in the past several decades because just as there is an economic incentive for identifying the good companies, there is also an economic model for identifying the scams. This is how free markets and free speech works—helping weed out the bad companies and those stealing from investors so good companies have more room to thrive. Claiming to be a free speech advocate while casually advocating for the imprisonment of anyone who dares to speak critically about public companies is a contradiction of the highest order. In short, Tucker, I highly suggest you actually vet the people you welcome onto your platform. If you find yourself staring, mouth agape at your interviewee, repeatedly saying “Wow! This is unbelievable!” it may in fact be because it’s unbelievable. You reach a lot of people and this one was an avoidable miss. Good day.

@3NDeveloper Wow! Great post. This is the kind of highly detailed, property specific, CRE information I love that I only find on this platform. Thank you!

Want a very easy rule of thumb to prevent major losses in CRE investing? (Almost) at all costs - avoid acquiring bank buildings greater than 5k SF. These big banks are still benefiting from their perception as fortress CRE investments. Why? Think about it. Think about the bank building you have seen within prominent trade areas. Massive structures designed by famous architects aiming for one simple goal: use human psychology to build trust with consumers. They were built and designed to convey the following simple message to the public: 'We are fortresses for your hard-earned money. You can trust us." Over time, these banks began a hyper-expansion policy - all of them competing for the best corners and pad buildings in your markets. If Bank of America was on corner, then Chase HAD to be on the other corner. Operating expenses (rent) were not the primary drivers behind the expansion strategy - market share (of real estate and of mind) was the primary driver. So what did we get? Lots of big banks paying very high rents. Developers flocked to these tenants because they were literally money printing machines: - High rents - Low exit cap rates Brokers loved to pitch these investments by oversimplifying them: - "This bank has $X deposits! Top Y% in the State!!" - "The banks spent too much money installing these vaults into the buildings, and it would cost too much to remove them if they vacate... so they'll never vacate!" - "XYZ credit rating and ABC market cap. Perfect for your 1031 exchange!" Yes - they became magnets for 1031 buyers. Partly due to the deep trust we were conditioned to have with banks, and partly due to how they were marketed as investment grade / bulletproof assets. So what happened? The GFC hit, and banks were literally rattled to their core. They all panicked, and immediately pursued aggressive cost reduction strategies. How? Among other things - 'Activity-Based Costing' Some of you may know what that means. Management Consultants were hired in droves to help banks understand their costs (via 'ABC'), and to execute on cost reduction strategies. Tens of millions spent to figure out how to save hundreds of millions. Banks realized they really didn't need 5k - 20k SF footprints anymore - everything was going digital anyway. So that's how we landed where we are today - lots of 1031 buyers who were bulldozed by reality. Want a case study?

@StudentRentPro Love the transparency! Amazing job.

@gas_biz Your best sales line: "We built our business with zero salesman. Not one. We have lived and died on reputation alone."

@StudentRentPro Own a rent house with a LOMR. Each subsequent owner of note would not see that and would then hit me with high dollar force placed flood insurance. It was a pain each time to get corrected so I just paid it off.

@StudentRentPro I should say raising is common. Can't get remodel permits above minimal $ without elevation certificate. Small house bids to lift pier&beam were $25k plus. Elevation certificates ~ $1k. A lender requires the flood insurance so you just have to prove to them but not always easy

@StudentRentPro Common in Houston. Requires raising finished floor elevation to be 2' above 500 year DFE and then get an elevation certificate. LOMR is much bigger deal. Currently bringing 3.5 acres out of 8 acres in flood for commercial site. Dirt work plus engineering >$500k plus 1 year+.

@3NDeveloper I tell my clients that cap rates look forward, not backward. The real truth lies mostly at last lease signing. Ask: Is tenant replaceable at the same rate? Will there be demand for that space/location if vacant? Focus on the real estate first and the tenants second.

Want a great reminder? If you are purchasing a new construction retail development, the most important part of your review process will be the leases. Sophisticated Developers will give unbelievable incentives to tenants in order to juice the NOI. Developers will increase the sales price by ~$20,000 for every $1,000/year they can boost the NOI. This creates a perverse incentive to negotiate artificially inflated rent figures. When reviewing the leases, keep an eye out for the following common tactics: - Extensive Tenant Improvement Dollars - Extended Free Rent periods Often, Developers will give Tenants $50 - $60/SF in TIAs (whereas the market TIAs may be $0-$20/SF). In exchange for this massive TIA, the rent will bump from $4/SF to $5/SF. Tenants will accept this because it significantly reduced their capital 'at risk' and boosts their IRR metrics. On a 5,000 SF building, the developer will pay $200,000 in extra TIAs, but will capture a price increase of $1M - $1.2M on their exit. The other common method is where Developers will also give extended 'free rent' periods, in exchange for spreading out that free rent into the remaining term. How does this work? Let's say a Tenant wants to lease the 5k SF space for 5 years for $15,000/month as-is. The Developer will offer the Tenant 6 months of them paying no rent (in the beginning), in exchange for rolling that $90,000 into the remaining 4.5 years of term. This translates to bumping the rent from $15,000 to ~$16,670/month (an 11% increase). In exchange for $90k in abated rent, the Developer will capture a price increase of $400,000 on the exit. Across both of these common methods, the new owner ends up overpaying for the asset based on a financially engineered lease agreement. In sum, these can easily translate into $500k - $1M+ overpayment for the asset. The worst offenders will combine both of these methods together to maximize the squeeze.

@bethanyjbabcock VERY impressive. Existing retail landlord side leasing was my least favorite commercial brokerage activity due to wasting time weeding through those calls, explaining NNNs, etc. when I knew there was a near zero chance of making a deal. I didn't want to be rude, either.

Landlord leasing agents get hundreds, if not thousands, of calls each year that go something like this: Caller “Can you send me info for the property on Bandera rd?” Agent “sure we have 11 on that road, which one are you interested in?” Caller: “the one next to the restaurant” Agent “ok that’s either Center Square or Pavillions. What kind of business are you searching for” Caller: “dance studio” Agent “great, we have an exclusive at Pavillions because of the dance school but Center Square might work. How much space do you need and what is your budget?” Caller: “like one room? And $400 max” Now combine this times 80 something listings and include a long list of tenants that most landlords don’t want. cBD, tattoo etc. How many hours does it take to sort through that and find out what’s real, enter into the CRM and also track the ones that aren’t for owners reports? 58 hours a year per agent. We know that exact number because we receive and track every single inbound call, qualify it, categorize it and database it before transferring to the listing agent. How do we do this? Licensed, in person and salaried inbound agents that do not compete with the listing agents. This comes from the firm side and does not impact agent commissions at all. This helps gather all the necessary info for owner’s reports, track market intel and save leasing agents an average of 58 hours a year on that one task.

@StudentRentPro Balconies overlooking pools in your spring break short term rentals are not a bonus.

@DMAC_19 I brokered a sale and both principals show up to negotiate at the site driving old cars & dressed poorly except I knew both sides were worth >$100m each. Got stuck at 6% apart & they looked at me. Gave up zero & sold it. Don't get played. Some guys ask for a fee cut every deal.

Real estate gods must’ve heard me. Been in escrow for 30 days and buyer/seller are $16k apart on a 2.05M deal. Neither side will budge initially. Seller finally agrees to all $16K. Representing Seller and her husband is not happy. She has another building she will eventually sell. Do you chip in a few grand as a good faith gesture?

@realEstateTrent Gas station air compressors for tires

What’s the most unreliable product in the world besides airplane wifi and those automatic hand dryer things at the airport