Dan Fleming | Apartment Investing

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Dan Fleming | Apartment Investing

Dan Fleming | Apartment Investing

@DanFleming99

Founder, Corto Realty Group. Multifamily Investments. Milton Friedman. Current Events.

San Diego, CA Katılım Kasım 2022
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Dan Fleming | Apartment Investing
If price controls on groceries lead to food shortages and breadlines, then price controls on rents lead to…
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Dan Fleming | Apartment Investing
Tesla FSD stops fully at stop signs even when there isn’t a car in sight. If my friends drove like that, I’d be annoyed. Odd that I don’t mind at all when it’s FSD driving me around.
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Dan Fleming | Apartment Investing
Politicians don’t build homes. They create the environment via policy in which it is easy or hard for risk takers to build. The only skin in the game politicians have is if they’ll be re-elected. Zero actual dollars at risk. I think we all know the kind of environment CA politicians have created over the last 26 years.
Tom Steyer@TomSteyer

Young Californians aren't doing anything wrong. They're just living in a state that stopped building homes. I'll build one million homes in four years.

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Dan Fleming | Apartment Investing
Politicians don’t build homes. The only skin in the game they have is if they’ll be re-elected. Zero actual dollars at risk. They create the environment via policy in which it is easy or hard for risk takers to build. I think we all know the kind of environment CA politicians have created over the last 26 years.
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Tom Steyer
Tom Steyer@TomSteyer·
Young Californians aren't doing anything wrong. They're just living in a state that stopped building homes. I'll build one million homes in four years.
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Dan Fleming | Apartment Investing
@econ_escape I’m thinking retroactively - looking at population growth for a MSA or a state and checking against actual numbers. Specifically, how accurate was the census in predicting a flatlining of CA’s population from 2020 to today?
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Dan Fleming | Apartment Investing retweetledi
F. A. Hayek Quotes
F. A. Hayek Quotes@FAHayekSays·
“The power that a millionaire has over me is much less than that of the smallest bureaucrat who wields the coercive power of the state, and on whose discretion it depends whether and how I am to be allowed to live or to work.” — Friedrich Hayek
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Dan Fleming | Apartment Investing
Listing broker: We’ll send the rent roll once we’re under contract. Me (internal thoughts): People actualy waste time going through the process without getting basic info. Wtf is this guy hiding? Any potential offer price just went down precipitously. Me: Can I see a unit or two? Broker: Once we have it under contract. Me: Pictures at least? Broker: You should drive by the property. Trust me. You’ll make boatloads of money. Me: How much? Broker: So much. Me (after driving the property): Yeah, lots of deferred maintenance. RSO too. Max rent increases of 1.5% per year. You have another similar size fully renovated deal for $240K per unit, and this one is $210K per unit but needs $30K per unit interior, roof, windows, painting, commissions, profit margin. Me: I’m nowhere near your price. Let me know if you don’t get traction. Broker: Tell me where you need to be. TBD
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Jon Fawley
Jon Fawley@oasiscre·
Seller: Yes please bring an offer. I want to sell but I am not sharing financials. Me: Good night!
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BarryRoland19
BarryRoland19@BarryRoland19·
I haven’t been through multiple RE cycles, but underwriting a value-add deal in a cap-rate-expanding market with eroding NOI — and still getting to your updated YOC — feels almost impossible. The price drop from the peak needs to be ~blatantly unreasonable to honestly underwrite a confident ‘W’. At some point, you kind of just have to say “fuck it,” pay what you would’ve paid 10 years ago, and bet that the market turns. In other words: you need optimism, massive balls, and just the right level of stupidity.
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Dan Fleming | Apartment Investing retweetledi
Moses Kagan
Moses Kagan@moseskagan·
One of the things that bug me about how he uses language is this insistence that *he* is going to build all the homes. In fact, if we are going to build hundreds of thousands or millions of new homes in CA, we will require the cooperation of countless private investors, developers, contractors, material suppliers and so on.
Tom Steyer@TomSteyer

The people who keep California running — teachers, nurses, child care providers, and bus drivers — can't afford housing in the communities they serve. The solution is simple: We stopped building homes. I'm going to build them again.

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Dan Fleming | Apartment Investing
@JulieChangRE Do this long enough, and a person becomes the most patient, solution-oriented person around haha Not even worth thinking about what was going through a person’s head anymore.
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Dan Fleming | Apartment Investing
Not a fan of the commercial light pole floodlight. Thinking about replacing the poles with classic black lampposts and fixtures. More character, better ambiance especially in the new BBQ area. Flood lights throw light down vs. out. But aesthetics are worse.
Dan Fleming | Apartment Investing tweet mediaDan Fleming | Apartment Investing tweet mediaDan Fleming | Apartment Investing tweet mediaDan Fleming | Apartment Investing tweet media
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Dan Fleming | Apartment Investing
Water shut off today for a water heater and shower valve replacement. Resident in one of the impacted units decided she’d fill her tub with water to have water for the day. Got a call from the plumber noting an apparent leak coming from the 2nd floor. Resident thought it’d be a good idea to not report the crack in her tub and then fill it with water. Another day in multifamily. Hashtag passive income
Dan Fleming | Apartment Investing tweet media
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