JustAnotherLandDeveloper

@ChrisRamsey60 Good to know I'm not the only one who thinks like this.

I’m sure there’s very good property management companies out there. But I just can’t trust my $15 million property to a third-party manager. Can’t do it.

@KrissBergTweets Yes. Here for the details. 🍿

Regional car wash chain on the block for $21M 😳 Whatcha think fam, should I take a run at it?

@DietCoke82 She’ll love it

Her Closet

@naelbis @ChrisRamsey60 agree!

@RE_INVSTOR @ChrisRamsey60 That is better than most I have seen. Even that 60ft shrinks real fast when other tenants have trucks or equipment parked outside. Revenue maximization and actual ability to fully meet tenant needs are not always aligned.

Lease up on small bay industrial is a different game. 50,000 sq ft warehouse One tenant One lease One negotiation. 50,000 sq ft of contractor garages or small bay warehouses The advantages of this is we are not depended on one tenant less risk. Disadvantages it’s more work but I’ll take more work with the less risk any day.

@jase_lachowiez Awesome! Bathrooms in each unit or no? Climate control?

@RE_INVSTOR Awesome stuff, love the scale of it. Building out 10 contractors garages here in 🇨🇦

GarageSuites KC ... Construction update: Almost ready for concrete. These contractor garages will lease fast!

@dylthorn One yr then mo to mo

@RE_INVSTOR Do you do 10 year leases or what on these

@_specofdirt Excellent question, and I considered it. My logic: breaking project into 2 phases would equate to phase 2 likely being 15% more expensive to build, plus added headache of construction traffic / staging / logistics. 77,000sf here. Time will tell. About 45 days from CofO.

@RE_INVSTOR What’s the thought behind building all 7 garages at once and forgoing early tenants rather than phasing and leasing as you expand?

@naelbis @ChrisRamsey60 Excellent point Rudy. Always a challenge to reconcile maxing out developable area vs providing ample space for reasons you mentioned. At this location we have a 60 ft drive aisle width at the narrowest point, increasing to 90 ft between bldgs at the center of the site.

@RE_INVSTOR @ChrisRamsey60 As a consumer of such places, I have to say that I love the price point and convenience. I also LOATHE the layout. The buildings are too close together to safely back a trailer and the lack of parking/outdoor storage is a PITA if you have any kind of equipment beyond a truck.

@shawngorham 🤟

@RE_INVSTOR I have a license

Would you do this deal as a house flipper?

@DietCoke82 Truth.

Funny to hear how AI will replace so much in 5 to 10 years where construction and development have so much friction in the simplest tasks! One could only hope it gets easier.

@ChrisRamsey60 I'm following your lead.

The path of least resistance is industrial real estate. The best place to start in industrial real estate is contractor garages to learn the game. When you have acquired and managed all asset classes, this becomes obvious.

@acquisizioni Very tidy. Any incentives?

Numbers on one of my deals that’s through executive committee: Size: ~ 400 units Type: 5/6 story wood, partial podium Land: $45k/unit TDC: $388k/unit Rents: $3.81 psf/mo blended (10%bmr) Opex: 12,700/unit Exit Cap: 5.5% YOC: 6.83%

@Dudewithacigar Not everybody has the flexibility for this, but many airlines, including most star alliances airlines, release unsold revenue seats into award inventory as flight nears. I have had a good success booking award tix (biz class 50-80k pts each way) 2-10 days from travel date.

Full disclosure: peak first-world gripes. Must-do Italy trip late May, prices sky-high. Figured I’d burn 20 years of Amex + frequent flyer points (Clooney-level stash, baby). AI swears business class one-way: ~50k points. Actual availability? 350k+. So I lean in and ask @AmericanExpress , @AlaskaAir, and @AmericanAir : it was all a scam, right? #PointsDontFly 😏

@SERobinsonJr @grok what was the ground lease rate?

SPACEX: The Port of Brownsville's Board of Navigation and Canal Commissioners approved negotiations with SpaceX for a 50-year lease on an 83-acre parcel directly on the south side of the Port of Brownsville. SpaceX plans to build a "Heavy Duty Dock" to support Starbase operations.

@LALMuse Can win a championship with USB-A sockets in the lockers🔌

Luka threw towels at AR during his interview because he didn’t get a birthday present for Luka: Austin says: “Your such a f-, I got you a present you freaking idiot.” 😂😂😂

@DietCoke82 wide brimmed straw hat with chin strap?

Getting my yard ready for spring - cutting back English ivy and climbing plants - pruning hydrangeas - cutting back drift and tea roses - digging out dead plants my rhododendrons did not last - dead heading prairie grasses - plant spring bulbs - Gladiolus, Blue Liatris, elephant ears, all the tropicals soon Gardening is my happy place. I burn through books and podcasts while I work and I love it!