Paul

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@redwood_ryan_a @twallyweb Wooo baby on the pfp congrats!

@twallyweb Amen

Real estate people severely over estimate their business acumen

@aussieflya @moseskagan Can’t speak for Moses but I’m also on 4mg wegovy. You get and stay full with less food, so you don’t want to eat, you feel stuffed. You also just think about food less

@moseskagan You literally can't eat even if you want to?

[Warning: Non-RE / biz post] Down >20 lbs (~10%) from my peak weight, due to Wegovy (initially 1.5mg pills, now 4mg). Have got a little weaker, but not enough to matter. Only real downside was having to tap out of a particularly delicious omakase last week. To those on the fence: Strongly recommend.

@MorganBarrettX @moseskagan 🤣

@moseskagan When LA real estate is so slow you have you to renovate yourself

@rledbetterCPA Subtweet speedrun

@CREHiddenAlpha Immaculate timeline

Shot, chaser

@moseskagan @DallasAptGP How would the confidential information leak? Would you store that information on Google Drive (similar security level to Open AI or Claude)? Unless the issue is your employees getting higher access than they should

@CREHiddenAlpha @DallasAptGP There's all kinds of confidential information in there!

We are now using AI in a lot of different ways throughout our property management, construction, development, and investment businesses The most important thing that it has done for us is unrelated to AI We had to get our act together on the data side AI doesn't help when your data is scattered across seven places and none of it is clean. So over the past year we got very good at making everything easily findable. Every property, every loan, every service contract, every insurance policy. For the 123 Main Street file, everything is actually there (and the current version). Now AI works for us, because it finally has full context. But even if we weren't using AI, we are better operators today because we have gone through the effort of structuring and cleaning our data and files.

@moseskagan @DallasAptGP Why not? I would give it access in a heartbeat

@DallasAptGP What's frustrating me right now is that we have all this stuff in Appfolio, and I don't want to have to maintain it in two places, but I don't think I want to give an agent Appfolio access at this time (and not sure I could, even if I wanted to)

@SinaiLawFirm Yep

@CREHiddenAlpha most likely foreign buyers parking money

You can rent a $2.4 million house in Irvine, CA for $5,700. Let me know how that makes sense. Mortgage payment would be $16,000 a month. Prop tax is $2,580 a month, insurance and HOA is $969. With the cost of maintenance, you basically lose money even if you buy it all cash.

@SinaiLawFirm They actually bought it then immediately listed it for rent, never occupied

@CREHiddenAlpha they are not looking for a return they just want to cover some expenses, don't want to leave it vacant, and someone to maintain it

@BCassSF23 zillow.com/homedetails/57…

@tawillionaire @austindeano I think $120k a year would change a lot of people’s lives in Irvine (median household income is $136k)

@austindeano @CREHiddenAlpha Yeah, it’s not a great financial decision It’s a life decision If the difference between that mortgage payment and the rent is going to change your life, then day-to-day life in that neighborhood is probably too expensive for you, anyway

@StumpGuyTy Single family rentals is a bad business imo. Any time period other than 2009-2016

Best decision I’ve ever made is selling the old duplex that we owned for 3 years. Sold it in October of last year and I cannot express the mental clarity and happiness that has come from: 1.) Living somewhere nicer, for cheaper. 2.) Not dealing with maintenance and not being a landlord. Using all of that mental energy to just run our businesses has been a huge life upgrade. We will own a house again, but it will not be a financial strategy. It will be a happiness expense.

@californiacpa21 Maybe if it had the same time zone. Right now I just visit once a year

@CREHiddenAlpha Just move to China. It’s the same place for much less

@samuel_spitz True

@CREHiddenAlpha Market sales are what the most motivated buyers are willing to pay There might be only a handful of such buyers, for instance people that have immense wealth and just want the feeling of owning their home

@TheNathanRuff Me too 😂

I wish my wife would let us rent Owning sucks Also 2.4M homes rent for like 18k a month here

@Pref_Right Why's that?

@CREHiddenAlpha This post is gibberish

@Storage_Venture This owner did 🤷‍♂️, closed it in June 2024 and then posted it for rent the next month zillow.com/homedetails/57…

@CREHiddenAlpha You don’t buy that house for the sole purpose of renting.

@quivertweets He actually bought it for $2.6 million in 2024

@CREHiddenAlpha The owner is 80 years old and bought the place for 180k...the value of the rent from that perspective is good cash flow

@realjayg Why did he get it?

@CREHiddenAlpha I know. Just worked for a guy that bought a 2 million home and rented it and even if he paid cash I can’t imagine someone covering nearly $15k/mo for him to get a return and cover tax/insurance/maintenance

@enjoyerofchess Grey knotty LVP straight to jail

@CREHiddenAlpha The homeowners belong in fucking prison