Coopdog

Yesterday in Minneapolis was an execution. I'm a Trump voter, I support ICE, criminal aliens need to be deported & these protesters are a pain in the ass. But that was an execution. An American citizen engaged in the exercise of his civil liberties was executed by federal agents.

@WKRN Gryffindor @AndyCordan? I would have thought Hufflepuff.

Hate speech does not exist legally in America. There's ugly speech. There's gross speech. There's evil speech. And ALL of it is protected by the First Amendment. Keep America free.

@emPatheticTurtl @profplum99 Perhaps the point but not the outcome. Values will fall to the point the cost to carry still provides a sufficient return relative to other investments. If return is on one side of the equation, tax and value are on the other.

@cmagli @profplum99 That’s the point.

Shift to Georgist tax structures that end land hoarding and incentivize land development

The murder of Charlie Kirk is a double tragedy. The first is a man’s life cut short, his friends and family bereft, his voice stilled. The second is that the costs of speaking up and speaking out have now risen dramatically. Not just democracy but civilization falters when people become afraid to express themselves or become the public face and voice of an idea. In a civilized society, speaking up and speaking out should not make you fear for your life. In that sense, this death is an act of terror. It makes every thoughtful public figure who writes and speaks worry that they might be next. That this happened to someone who loved to engage in calm debate makes the whole thing even sadder.

@KobeissiLetter This is largely an illusion. >24 can drive for Uber/Lyft. Actual Un/Underemployment is greater than reported.

US graduates are struggling to find a job: The unemployment rate among new college graduates has averaged 6.6% over the last 12 months, the highest in a decade, outside of 2020. The jobless rate for people aged 20 to 24 who are looking for work and have at least a bachelor’s degree has risen by ~1.3 percentage points in 3 years. By comparison, the nationwide unemployment rate stands much lower, at 4.2%. Furthermore, the unemployment among college grads aged 22 to 27 averaged 5.8% in Q1 2025, according to the NY Fed. As a result, the unemployment gap between young graduates and the general population is now the largest in ~35 years. Graduates are facing an unemployment crisis.

@KobeissiLetter Paging @profplum99

What is happening here? The number of year-over-year private job gains in 2024 was likely overstated by a MASSIVE 907,000 jobs, according to BLS data released Wednesday. This comes as the Quarterly Census of Employment and Wages (QCEW) data covering 97% of employers showed a private payroll growth rate of 0.6% for December 2024. This is 50% lower than the 1.2% growth rate initially reported in the monthly non-farm payroll (NFP) reports. To put this differently, there was a 907,000 gap between NFP data and QCEW data in 2024. This means jobs were likely overstated by an average of 75,583 PER MONTH in 2024.

@NashSevereWx 4232 two rivers lane, Franklin. Very intense for about 30 sec. Could have been microburst but seemed very “vortexy”. The “train” sound was what made me get up and look and see what was going on.

@cmagli where exactly?

@NashSevereWx train sound. crazy winds. lasted about 30 seconds.

@jnconkle @profplum99 How do you know someone is on keto? They’ll tell you.

@profplum99 your duty to work "keto" into the convo 2-3 times, never know if it'd be a life changer

Status check… the passenger next to me just self-congratulated that he, “Didn’t need the seatbelt extender after all!”

@TheRealEstateG6 What's the cap rate on $0/SF? Perhaps he needed to rent it among a sea of vacant buildings? Or the tenant wanted to drop $1,000,000 in a crappy building and needs time to realize their investment? Renewals are just one variable among many... Or the LL could be an idiot.

This owner destroyed $1MM in value at his own building by not including a single clause in his lease Below are the lease terms for an industrial deal I was looking at buying a few months ago Everything’s fine with the property but the seller made 1 massive error in his lease that’ll cost him $1MM So what’s the error? When you sign a commercial lease, you often include lease renewal options There’s nothing wrong with that, but you need to make sure your upside isn’t capped when you allow those renewal options in the contract In this case, the lease was signed in *2014*. The initial lease was a 5-year term with a base rent of $4.29/SF. There were then five 3-year renewal options, all at a 3% increase from the previous term’s rent (laid out in the picture below). So 20 years total on the lease Guess what the current rent is at the property? $4.55/SF. Guess what the current market rent is? $10/SF Less than half of market rent. And there’s nothing you can do about it Even more comically, the contractual rent is $4.97/SF in 2034 but the market rent today is $10/SF. Basically in 10 years, the contractual rent will be less than half of what the market rent is *today*. At a time when inflation is 5%+/year. The market rent could easily double to $20/SF by then. That’s an absolute disaster If the lease had a FMV clause in it for it’s next renewal (we’ll discuss what this means later), I’d only have 2 years of having to deal with the below market rent before the next extension allowed me to mark the rent to market in 2025 Since there’s no FMV clause and the lease extensions go another 10 years until 2034, however, the entire value of the building changes // Current Value // $4.55/SF * 14,000 SF = $63,654 NOI. At an 8% cap rate, $796k value // Market Value // $10/SF * 14,000 SF = $140,000 NOI. At an 8% cap rate, $1.75MM value The seller destroyed ~$1MM in value in his own building because he didn’t know what he was doing So how do you avoid this result (how do you “uncap” your upside)? Well first off, every new year of the lease should have an escalation. So the escalation shouldn’t only happen when the renewal options are exercised, they should happen every single year. And they should be at 2%-3% But that only solves part of the problem. What if market rents increase faster than 2-3%? This is why you should include a “Fair Market Value” clause in each lease extension option. This means that the new rent isn’t just “the old rent + 3%” Instead, when the option is exercised, you have the market rent determined by a mutually agreed upon 3rd party appraiser and the rent for that extension period gets readjusted to the new market rent. This allows you to capture any market rent upswings (as a side note, you should always structure the lease so the renewal happens at “the greater of the previous rent + 3% or FMV as determined by a mutually agreed upon 3rd party appraiser”, that way you have a capped downside of 3% and theoretically unlimited upside of the market rent) It’s really pretty simple but it can be catastrophic if you don’t know what you’re doing Never sign a lease without an FMV clause unless you want to lose a lot of money // If you want to make real money in real estate but don't know where to start Apply below to the Acquisitions Bootcamp to work with me to find a profitable deal that fits your needs //

#CRE How much are you paying for placer.ai?

@cre_cole My worst experience in commercial real estate by far involved a vacuum repair business. Run away!

Just signed an LOI with a tenant for vacuum repair store. They’ve been in business for yrs and are relocating. We happen to have a partner in the deal who also owns some retail. We get a random email from him that they’re vacating his other center with 3 yrs of term left 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️

@CollinRugg If it's Boeing, I ain't going.

JUST IN: Audio released after Southwest Airlines Flight 3695 was forced to make an emergency landing after its engine cowling detached during takeoff. The pilot can be heard calling for an emergency landing. The Boeing 737-800s engine cowling detached and “struck the wing flap” during takeoff. The flight was able to turn around and land safely at Denver International Airport. “Southwest Airlines Flight 3695 returned safely to Denver International Airport around 8:15 a.m. local time on Sunday, April 7, after the pilot reported the engine cowling fell off during takeoff and struck the wing flap. The Boeing 737-800 was towed to the gate. The aircraft was headed to William P. Hobby Airport in Houston. The FAA will investigate,” the FAA said in a statement.

@rohindhar What do you think @pelotondon?

What do people think of the Solo Stove fire pit? Any good?

Had I realized I was colluding, I would have charged more.

@mhprvpmvp Doesn't the "P" stand for... ah nevermind

@AdamKleinROI @Bethazor1 Stock trades are not free. They sell your order flow.

My take on NAR settlement: Broker fees are in focus, so 📈 using social media and AI has never been more impt. 🤖 (@Bethazor1 is right on this as usual) Remember when you had to pay for stock trades and now they’re free? Stock brokers felt safe in the 1980-90’s too. Brokerage fee compression (Resi + CRE) is here and while many brokers will find a workaround near term, this is just step ☝️