quitting retwit anon (ex Industrial RE ANON)

I told guys at Investment Committee that make $5MM-$10MM a year that Cap rates don’t matter and was immediately fired.

@pathfinder17m @eatoncorp What size panel and voltage?

@eatoncorp how do you have a 6-8 month lead time on your "instant merchandised" switchboards???

@TheNetDaily All I see are a bunch of yz125’s torn down in the garage and a ford ranger In The driveway

The white version of Edgars

@robbiehendricks How does a profile investor like this short list sponsors to reach out to?

Had a call with a husband and wife couple earlier making their very first foray into the LP life. Very sweet, honest people. Their questions, though, were concerning. "Can I lose money?" "How do I get paid?" "What is a cap rate?" These are the types of people that would have happily given the usual suspects $100,000 because of a pretty deck and big follower count. So I slowly took time to run through the variables and assumptions that can crush a deal: • Rent growth • Expense growth • Tax reassessment • Cap rates (going in vs. exit) • Vacancy • New supply • Debt decision • Capital stack • Basis vs. comps • Renter demand/employers I explained how each of these little levers can be pulled or variables can be highlighted (or omitted) to make a deal work on paper. I think I temporarily scared these people away from being an LP, which in their case was the correct decision. You need to have at least some base level of awareness to swim in this pool. Don't need to be a financial analyst or market researcher, but you do need to know the basic questions to ask, how to assess a sponsor, and how to stress test their assumptions.

@otter401 @PatCarino I knew a guy that had pvc material delivered way too early on a site and left it over the winter. The PVC pipe turned into a habitat for something by the spring

@PatCarino What I hear is that you get a qualified biologist to do an endangered species survey on the property. Assuming no critters are discovered you find a guy with a tractor and disc the soil every three months until project ground breaking. That's what I hear at least.

Spent most of a call w/ equity walking thru a condition of approvals for one of my deals to remove any 🐢 we may find on site. They were hyper-focused because on another deal of theirs, they found endangered 🦎 and had to buy a separate property in that town for $6m (!) to relocate them to 😳 This industry is truly insane.

@HeLLaTaLL510 Earned a follow

Vacaville = Livermore Fremont = Curry Walnut Creek Alameda = Piedmont Island Orinda, Lafayette, Moraga = Marin County East Bay edition Albany is just more Berkeley. San Leandro is Pinole, but shittier. Dublin and Pleasanton are for people who blame crime on BART. Sunol is the more mentally ill shut in version of that. The entire peninsula south of the airport should be nuked. Gilroy doesn’t exist.

@nypost Not invited to the cookout

LA mayoral hopeful Nithya Raman proposes backyard BBQ ban trib.al/7BMBIBf

@iononrecourse Buzz boxes

Real estate companies used to put the principal owners' names/family on the door: Buzz Oates Fisher Brothers Schostak Brothers Hines Interests Silverstein Properties Trammell Crow Co. Cousins The John Buck Company Now the names are more vague and esoteric: Greystar Rialto Cortland Northwood Blackstone Starwood Spear Street Ideas on why that changed?

@patcarino Retail brokers with nice hair will love it

The Fitness equipment sales person keeps pushing this machine. I’m not a big gym guy, but I’ve never seen this at any of the gyms Ive ever belonged to. We expect the building to attract people between 25 and 50 years old. Will it ever get used? Should I allow it?

@christopherrufo In this house, we believe that this is retarded

It's hardly the most important part of the story, but Gavin Newsom spent $189 million to buy digital tablets for 90,000 prisoners—or, more than $2,000 per tablet. He's squandering taxpayer cash to give personal sex machines to every state prison inmate.

@projectxlence Yeah agreed. It’s good to work places during younger years where you get as much exposure as possible. Nothing beats “at bats” more than in development related activities.

one of the difficulties in managing these projects is acquiring enough knowledge to know what to ask "why" about. I am constantly amazed at the breadth of knowledge that construction managers, project managers, owners reps, have about all the different trades, permitting processes, contracting, all of it.

Same- Why are we speccing an r9 roof when we are long term owners Why is the design builder (LOL) budgeting 10k CY export and 10k CY import and not using any of the onsite fill to raise the site? (Hint 💰 💰) Why is there tile and granite countertop in a warehouse bathroom and frp in the office bathroom Why are we not putting in infrastructure for primaries and secondaries to maximize power upgrade in future even though utility gives us a 750kva transformer day 1? Why are we paying $1200 a foot Rule 20 UG conversion when my neighbor paid $300 Why do we have so much vision glass outside of potential office entries when it’s a security issue for goods? Why are the roof drain scrappers and overflows at roof line low points not aligned with the man doors below Why don’t we throw in extra conduits in the pour back strip to get future power to the vacant side Why is the site so flat with minimum cross slopes when the soil has high plasticity and natural PVM Why are we looking at straight shaft piers when market is belled in this area

@TRIGGERHAPPYV1 Average plumber in Scottsdale

This guy is going viral for his insane rig setup towing a camper with a boat on top of his truck with people saying he won at life

80 cent rents, $190/sf sale Vs $2 rents and $490/sf sale Both class A markets Pick your playground

@alexjcampbell @BayAreaREMatt Read about that. Dang.

@YOCspread @BayAreaREMatt mostly sonoma ponzi, but yes

To all the new AI money buyers in SF, just know that if you cross the bridge you can get a super sweet home in Piedmont for a fraction of some of the SF homes. Like this 1915 Julia Morgan home thats nearly 12k sq/ft on about an acre that closed for 8.4M last week. Has a gym, pool, movie theater, and bay views!

@alexjcampbell @BayAreaREMatt Is this the north bay ponzi guy

@BayAreaREMatt Do you know the story about the sellers of this property? Let's just say, I wouldn't count on being able to collect on any disclosure issues.

@PalmerLuckey @ADeermount How else will my neighbor get a bid for $79000 for new blinds from her handyman?

It is time for the United States Postal Service to ban junk mail. Unsolicited spam calls are already prohibited by the FCC. Emails are heavily regulated by the CAN-SPAM Act of 2003. Junk mail is the majority of mail, 100 million trees per year. Enough!

I hang it behind the second story vision glass in a new industrial building iykyk

@devahaz Not going to happen.

This data does not appear to be all that accurate, and some neighborhoods like Rockridge are ripping at near SF levels. But Oakland as a whole is not reaping big benefits from latest SF tech boom. Huge opportunity if local government makes it a priority.

@Jason @ROLEX Top tier troll post

Going to buy my first watch... the @Rolex speaks to me. I need to learn how to buy a new one. Do you just go to the Rolex website or store? educate me please

@EthanBishopRE @robbiehendricks They are climbing the risk profile and looking for greater returns. 12% annualized public company return is not the same as a 12% net IRR return to an private investor

@robbiehendricks Truthfully I just don’t get why people don’t just buy well established REIT’s , index funds vs being an LP. Or just actually buy real estate on their own ?! Makes no sense to me.

$24M of LP capital. Nuked. The biggest violation of trust by these guru GPs is not that they lost LP capital. That's bad, yes. Losing capital is terrible. But IMO, the worst offense is that most have been unwilling to publicly demonstrate even a shred of humility or take a single ounce of responsibility for these situations. It's brand above all else. Now I'm not saying full atonement is possible, at least not quickly. The reputation hit will linger. But I do believe there is honor in being upfront about mistakes made and lessons learned. As an LP myself, I wouldn't disqualify a GP because of a loss in the past. But I will definitely disqualify a GP that doesn't clearly identify and take responsibility for where they went wrong...and what they're doing to ensure it never happens again. I don't want to hear about the Fed. The new supply. The vacancy. The insurance. The concessions. The property management company. The lender. or your partners. No, I want to hear where you failed to build enough margin in your choices as the steward of my capital that led to this failure. I want you to own it. Anyway, this is a brutal video from a local guy in our market that discusses one such loss. It was forwarded to me and was the genesis of this post. I am not going to link it, but if you're interested, you can go take a look.