RE_dude

@BrandonMBlum If deal is pitched that way or circumstances change (longer hold) then absolutely

GP/LP real estate debate An argument I’ve heard good points on both sides: After an asset is stabilized, and the business plan is successful executed, Is it fair for a GP to participate in any part of the promote before 100 percent return of LP capital?

@stevegarthwaite That’s my mistake - you are absolutely right my friend. That’s a bold move on your clients part!

@RE__Sam I don’t know if you misread, but I didn’t represent the seller the first time. I represented the buyer. He didn’t know about the opportunity before me. Many people didn’t. I was the absolute procuring cause of him finding and more importantly winning the deal.

Deal Story Saturday. 🧵 - This STNL Giant hit the market in Sept 2020. Grocery was on fire. Giant had 1.5 yrs left on their lease - Seller was based out of Pittsburgh with no tenant relationship. They couldn’t get an answer on a renewal. - This building was in my market. I knew all the players and knew who could close. The listing broker was based out of Ohio.

@stevegarthwaite Of course you should get the opportunity to sell the deal in normal course of business (common industry courtesy) but it’s not absolute

@stevegarthwaite As a seller selecting a broker, if I find out you’ve redlined certain buyers and are steering deals towards a particular buyer pool for your future benefit I wouldn’t hire you. My point is it’s more about remembering who your client is

@shawngorham Totally different for many reasons, most of which are subtle with massive impacts

I was told today Park City UT is the Aspen of 20 years ago Is it true?

@stevegarthwaite It seems silly to not maintain the relationship. Stuff gets sideways sometimes during frothy times and he clearly was able to make a profitable sale without you - can’t blame him. This to me is part of doing business, he doesn’t owe you anything

- I’m much more proactive going forward about who I even try to pursue relationships with and if it will be a two way street. You also have to be in the game to get opportunities like this. Patiently waiting on the sidelines will never land one on your desk. Brokers need to know who you are and more-so WANT to have a relationship with you because they see it as a benefit to their own career. - Lots of business lessons here. I wanted to share for young brokers and principles alike. 🧵

@DonovanBuilds What’s the rationale for no fees along the way? Is the investor fronting 100% of the costs (including pursuit costs)?

Went under contract on 4 lots today that are all next to each other Investor (that I met @ Reconvene) was fully supportive of my new development fee I am including at this point We have 3 projects currently On those, I make $0 until a profitable exit - 70/30 split

@JoeCassandra @RussellLowery10 How do you know prices will keep going down? The reality is no one knows so if you have a sound investment thesis and the operational capability to complete the business plan, why would you not buy?

@RussellLowery10 That's different than actively buying when you know prices will keep going down

Met with a GP that lost his client's money during the crash in 2008. Also met some of the LPs who sued him and won. He went bankrupt. They got nothing back after suing and winning. They maintain a website and publicly tell everyone in town and online that he is a crook.

@Levijameshere Trammell Crow, Master Builder

@Retail_survivor Totally agree. Underlying fundamentals are still extremely strong. Retailer resilience and lack of new supply has helped rebalance the supply / demand dynamic. I’ll be watching holiday sales very closely - the next hurdle!

Retail is in a weird place. Values are coming down with spreads shrinking. Lenders going into their “retail = bad” phase again. Meanwhile our leasing is as robust as ever with zero dip since we came out of the pandemic. Values decreasing while income/NOI increases. 🤔

@OmarMoraIes The real question, how many towers will they build on the site!

Rockpoint just sold Mary Brickell Village for $216M ($1,080 PSF) to RPT Realty They purchased it for $113M ($567 PSF) in 2015 It’s 200,000 SF of retail in the middle of Brickell

@danefossee Play more than once a week

I used to golf a bit in my early twenties. Trying to play 1x week now. I understand the basics. I’m a ~15 index and would like to be a single digit asap. Best tips/strategies for shaving a few strokes?

@Stetson11QB A real estate investment job…

What is the best W-2 for someone who eventually wants to be a full-time Real Estate Investor?

@MRossG199 Thank you for your leadership - the world needs more people like you

Disheartened, sad, and angry today. But resolved to find ways to best support our team members impacted. And continue to build better communities across the country, together

Something no one tells you when you're 20 years old.. MD at investment bank= sales Partner at consulting firm= sales Partner at law firm= sales CEO at tech co= sales Partner at a VC firm= sales

@saoliver1051 @titlelawyerjoe I use them as a sounding board for creative ideas, navigating complexity and general deal strategy. If someone turned around and shared pieces or a conversation (even not naming me) or an idea I’d be very upset. I view them as part of the internal team

@RE__Sam @titlelawyerjoe Interesting! I’m sure that’s true for some. What are the perceived drawbacks?

To first-year law students: Social media can greatly increase your chances of getting a summer position.

@titlelawyerjoe @saoliver1051 Absolutely! And probably plenty of business to be had both ways

@RE__Sam @saoliver1051 Well Sam, always good to hear a different perspective. My experience with social media has been entirely positive, uplifting, and collaborative with many other leaders in the legal, insurance, & #CRE industries.

@khzny This is a dream. Grew up going to a lake like this and there is no better place to collect your thoughts.

One of those weeks where I needed to go for a solo night float in the middle of the lake to collect some thoughts. Development isn’t for the faint of heart.

@AdamShoup What is your rationale for 5 days remote? Are you content topping out at the level you are interviewing for?