Connor Greissing

Long time listener, first time caller. Been lurking for the last few yrs and found some confidence to start Brick Row based on the lessons I learned on this bird app. Quick intro / background: I run a lean investment/ development firm in Austin, Texas focused on on two strategies - Strategy A: Office Reset - meaning the opportunity office investors have ahead of us to reimagine the workplace and office assets, given the reset basis (assume > 40% discounts across the board). Strat B: infill mixed use. This is a land focused thesis, looking for the best sites and determining the optimal mid term use for a) cash yield b) entitlement enhancement and ultimately c) appreciation in land value.

@Bay2WallCRE We need to be in the 20s LIRR over 5y and 300bps of spread to attract equity

what are institutional office value-add required returns? I am going off like 14-18 irr 7 year hold? feels like too much? Thinking like 10-14% 5 year irr? Not a lot of capex but high lease up costs in years 1-3

@atxREpodcast Idk - I went to an open house last week in central Austin and it was slammed for a tear down / major reno project. Probably saw 8-10 other couples in 30 min

Gentlemen is claiming Austin is the 2nd most motivated Sellers market in the country. Any boots on the ground perspective to share?

@burrfeast @ATXVideos Think once the construction of the new developments on west 5th and 6th start we’ll see less of this in Clarksville. Too many vacant tear downs right now. L

I live in Clarksville and had a homeless man attempt to break into my house this morning. He tried opening the back door, which my wife heard, he then pushed the grill, laid down and began humping the storm drain. The cops knew the man, said they have interacted with him 100’s of times, we pressed charges for trespassing and this man will be out in less than 48 hours. Ridiculously eventful morning.

Wish this wasn't so relatable, but it is. Welcome to Austin, where we have close brushes with death just for the crime of existing. Normal people who have to rely on the city bus deal with more frequent random acts of violence and pure hatred than probably any other demographic.

@Snowball_Dev Come and take it 🤠

Unpopular and unlikely, but all remaining soccer nations should fly home and let Mexico and USA duke it out in NYC, winner gets Texas.

@RandallHouseRE What svc?

Hire the virtual assistant. Every week, mine pulls every rental that leased on Zillow in the last 7 days. This is how you track where competitors and understand what’s happening beyond your own property.

@JCacciapaglia Austin. Office and mixed use

How many of you seeing this are Texas real estate investors? I've had this X account forever, and have used it for various real estate related businesses in multiple states. I'm curious how many of you invest in Texas or are in the real estate industry here. Comment your city.

@robbiehendricks No. Think 1.75x or higher yes. If it’s that quick

@ConnorGreissing I would not take 1.5x, no. Would you?

@travisk 🙌🏻

First day at our new Lake Austin office. 5 minute jet ski ride to work.. 😏😅😂

@Jason @travisk @NickolasJensen @LAUNCH @twistartups We got you. 823 Congress. Our newest project - catering to Austin start ups

@travisk @NickolasJensen need 16 desks for the @launch & @twistartups team — are you subletting?! 😂😂😂😂

@realsaadasad @incogni17344541 How do you mean wealth? What if you own a company (highest % of self made wealth) … do you suppose that individual pays tax annually on that above corporate taxes? Who’s the arbiter of value? ….and where does the newfound monies go?

The floor means that every year, a billionaire adds up every dollar she paid in taxes. If that total is already 2% of her total wealth, nothing changes. If it's less, she pays the difference. In practice, it mainly hits people who've been legally avoiding realization, the borrow-against-shares structure. You also need to have the option to defer until a liquidity event. Here's a fairly unbiased presentation of one method of administration, and they review some of the issues, too. taxfoundation.org/taxedu/glossar…

A wealth tax at the federal and international level, NOT STATE LEVEL, is the right move. Wealth concentration is power concentration, over media, politicians, and markets. Historically, a progressive tax system has been the main check on that. And for most of the income scale, it's true, rich people pay proportionally more in taxes At the very top, it breaks down. A teacher pays about 25% of his income in taxes. Meanwhile, a billionaire's wealth can grow 7% a year, and she pays taxes on almost none of it. Not because she's cheating, evil, or "greedy"! The system was never designed to reach her. Her wealth isn't a salary. It's a stake (or stakes) in a growing company. You only owe tax when you sell. And it may not make sense to sell. But she can borrow against her shares instead, which isn't taxable. Yet wealth compounds, and the tax system never triggers. So that's why we need a MINIMUM floor for them. If they are already paying their fair share through income, property, capital gains, etc, then no correction needed. But it must happen at the federal and international levels; otherwise, billionaires will simply move capital. If enough big countries participate, the escape valve closes. Countries that opt out should face trade and finance penalties from participating ones.

@joeybaum13 Bought 4 this past year

who's buying office buildings ?

@fortworthchris @JLL When do ODCE funds and institutions come back into office? 2029-2030 or earlier? Will we see spec office break ground before then? Just a tiny bit Self serving 😂

I’m sitting down with Mark Gibson, CEO of @JLL Capital Markets on Tuesday. We’re focusing the entire conversation on the current state of real estate market. Very few people are as close to what’s really happening than Mark. What about this market would you like to know?

@batwood011 Odd take.

Very sad about Josh Baer. Austin's startup scene is already miniscule. Without Josh, it may never have been considered any kind of "hub" in the first place. RIP

@TheATX1 Their new hq is actually down the road. Fmr Indeed HQ

@jaybsauceda @JoshuaBaer Literally the first text I received when I went out of my own was from @JoshuaBaer Loss of words today. He was a giant across spectrum and connector of Austin’s builders.

Austin lost one of its most important people last night. @JoshuaBaer died in a plane crash near Laredo. He was 50 years old. And if you spent any time in Austin's entrepreneurial world, you felt him. Whether you knew him personally or not. People will write about what he built. @CapitalFactory, his businesses, investments, portfolio companies, etc. It all matters. But what actually gets founders through the hard stuff is someone believing in them. A random text. A connection made at the right moment. Walking into a room and feeling like you belong there. That was Josh's superpower. And he gave it away constantly. He was the hype man for all entrepreneurs. You'd feel it in his social posts. You'd feel it in a message out of nowhere. You felt it in every Capital Factory space he built, long after he left the building. He created an environment where people believed something was possible before they had any real reason to. Technology developed in Austin will 3D-print buildings on the moon. Technology developed in Austin recently saved pilots who were shot down near the Strait of Hormuz this week. Businesses in Austin will continue to build hard technology that doesn't exist yet. Solve problems that seem impossible right now. Austin isn't just weird. Austin is audacious. It's audacious because Josh Baer spent decades making people feel like they could actually pull the impossible off. He was Austin's hype man. But he meant every word of it. Our community is what it is because of him.

@BernieSanders He literally builds rockets, cars, internet providers, satellites…his “wealth” is almost irrelevant. Not some oligarch sitting on a mega yacht in the Adriatic…literally working this minute changing the world. So yes, we should celebrate him. Bravo sir @elonmusk

@fortworthchris We have space if they need it 👊

Called it.

@fortworthchris what is total square footage? Trying to comp that to the new Dell campus in NW ATX

Houston's Texas Medical Center is the largest medical complex in the world.

@fortworthchris The latest bet by our team

The US is the greatest economic engine in the world. Texas is the second largest yet fastest growing economy in the US. The Texas Triangle is the greatest economic engine in Texas - $2.3T in GDP. Place your bets.