Daniel Johnson

1/ Managing Short-Term Rentals is a systems driven business. It can be done manually, but will absolutely burn you out quickly. Therefore, it is important to build systems and processes that will automate the mundane tasks of management. Here is a thread 🧵 on how we do it!

@lofty_ai Great update, here is my most recent updated review of Lofty on TrustPilot: trustpilot.com/reviews/691262…

You can now edit & delete your property reviews on Lofty!✨ If you own just 1 token, you can leave a review on a property. Just like Yelp/Airbnb. Coming soon: profiles for property managers. See all the properties they manage, overall ratings, & filter by the people you trust.

@PMDBT @lofty_ai Great update. Did you know TrustPilot also allows you to update reviews? Here is my most recent one: trustpilot.com/reviews/691262…

This update went out recently too on @lofty_ai ! Property performance and sentiment around sellers change over time as more data is available. The reviews should be able to reflect that change, so buyers are always updated on the platform too.

@AndyHVandenBerg Lots of that growth in PE backed RIAs is likely from non-organic growth.

Private equity backed RIAs are growing faster than independents. Assume this is because they’re spending more time and money on marketing. I wonder how long that lasts once clients start prioritizing independence again and the founders who sold to PE retire.

@PMDBT Hey @PMDBT wondering how I can be an active participant in the DAOs I own if I have been removed from the platform in which the majority of the communication occurs on? Being a participant isn’t just voting yes or no on governance votes, it is being a part of the conversation.

I guess it's time for my annual address on what Lofty is and isn't. Lofty is a marketplace for real estate. Instead of buying and selling entire properties, you can buy and sell fractional ownership of the equity instead. The tokens ARE the equity, which means you have legal ownership and can do whatever an owner can do. We do not manage your assets for you. You manage them yourselves with all of your co-owners, voting on and proposing things using your ownership. There are property managers, who handle the basic day to day tasks. But, YOU are responsible for monitoring their peformance and keeping them accountable as the owners. If owners completely check out for a year, they should not be surprised to come back and find that their assets aren't performing as they expected. If you owned your own rental property, you know not to just completely ignore every email/update from your property manager, tenant, or capital call. Lofty works the same way. Just because you do this online doesn't mean you can just walk away and ignore things. If you want a completely passive real estate investment, there are REITs and other managed funds you can deploy into. There is nothing wrong with that. But, if you want to be selective, deploy capital into specific properties of your choosing, and managing them actively, then Lofty is the product for you. In this particular user's case, if he believes that the equity tokens are trading below the property's market value. It takes him ~5 mins to draft up a governance proposal to sell the property on the real estate market and redeem his equity that way, instead of using the secondary market. But it would appear that over the years, he's proposed 0 votes on anything.

@blueprintsmb22 @PseudonymBear @dennis_unrein @SMB_Attorney None of these. For independent RIAs, it is firms like Focus Financial, Creative Planning, Hightower, Mariner, Captrust.

@PseudonymBear @dennis_unrein @SMB_Attorney who are the biggest strategics in the market? Schwab, Fidelity and LPL?

People laugh when I say this… But the two best business models are: - pest control - RIA If you’re trying to figure what business to start, look hard at each of these. Slam dunks for the right people.

@dennis_unrein @blueprintsmb22 @SMB_Attorney 7x EBITA would be very cheap. Most firms with > $200m will likely be 10x+, upwards of 18x. Sub $100m would likely trade on revenue not earnings. 3x revenue is what I’m hearing in most cases.

@blueprintsmb22 @SMB_Attorney RIA not cheap I’ve seen 7x - 9x for the good ones with right sized clients/ AUM See smaller ones for lower multiple, often times solo advisor and lower revenue / client

@SimpleCRE Great spot to be… we love living here.

Many disagree with me, but I think this city is primed to explode. So much positive momentum and amazing real estate opportunities. Truly a gem in the southeast.

@baldridgecpa It’s a big gamble. We could find ourselves in a worse place with global recession, trading partners who have established alternative partner markets and massively increased import costs(for products we have no way to produce locally).

Think of the United States as a massive business that has a ton of costs. Most of our vendors, including our government and other countries, have extreme customer concentration. We might be the only material customer of some of these countries, representing more than 75% of their sales (exports) Pushing back on terms is not stupid. Its the right thing to do. What if you had a customer that would sell you product, but when you went to go sell your service in return, they demanded a 50% premium to make their services more competitive? Would you continue to do business under those terms? I guess that sweeping tariffs are not a great idea in the long run. The gamble is that we can come to terms before they break us, and we can reset the game. Nobody else is going to buy all of this crap.

@StudentRentPro Are the bulk of your properties 3 bed or less?

@StudentRentPro Crushed it, I’m 100% sure!

@AndyHVandenBerg The niches are where you should focus. Figure out what your unique angle/planning specialty will be.

@dcjohnsoniii Agree. More used it as a frame for "sales"

Some risks are unsolvable before launching a business. As I prepare to launch my new venture, I've spoken to 10+ people who are years ahead of me on the same journey. The biggest risk for me is whether I can gather assets and grow a client base. They've all agreed it's impossible to know whether you'll be able to do that without doing it. I guess it's time to be risk-on.

@TKopelman @SlurpsWicks @chrissssjohnson

@chrissssjohnson sold all his RE for bitcoin Definitely different but both are stores of values in my mind I’m all about passive investing and building my business and staying focused there I have plenty of clients that own a ton of real estate. Those doing well are very wealthy and they offload it all and don’t care much about cash flow now Hard to get really good cash flow post everything, especially today

My thought is you should either own a bunch of rental properties or don’t own any at all I don’t know anyone happy owning 1 So much to learn, such little cash flow, etc. to not be replicated This is why many should not turn their primary home into a rental when moving

@SlurpsWicks @TKopelman All for BTC, but RE is a completely different story and strategy. Unlikely that there will ever be a big narrative of people selling RE to buy BTC.

@TKopelman @dcjohnsoniii The amount of people selling/trimming their RE portfolios to increase their Bitcoin holdings will only trend upward. It's a tough narrative to fade, and an even tougher ask to buy RE as an investment.

@BuySellBA @TKopelman Impressive! The most difficult piece is finding a PM that will provide the level of attention/service necessary. Most I have seen don’t want to raise rents, really manage tenants, and really take care of the property. They just want to be an answering service and collect rent.

Yes it’s a business and unless you’re an expert at it or have someone really good managing it then it can be a lot of work. But if you have a great property manager they can be profitable. But being a landlord In most places is not “passive”. Someone is doing a lot of work if they are doing it right. Still, I own several properties in different countries and they all do very well. But I have a lot of experience having owned a large property management company in South America, one of the toughest places on Earth to operate a business.

@olsonplanner Would be happy to discuss my fit. I work with a few physicians/retired physicians. More complex tax situations/RE exposure are typically a great fit.

Financial planners - I need your help! I’m looking for tax-focused planners who can work with physicians who are earning k1, 1099, and W2 income. My appointment schedule for new clients is getting pushed out so I’m looking for other planners to refer doctors to. Please reply!

@aaron_lubeck Now is it too much to ask to get 2-4 units allowed in all residential zoning???

@dcjohnsoniii They are required. Cities can’t do their own building codes in the state.

Last week, #NorthCarolina became the FIRST state to change its Residential 1-2 Family Code to the 1-4 Family Code, a reform that opens up: - lower cost triplexes & quads - more viable missing middle #housing - more flexible alignment with zoning It's potentially revolutionary for #affordability. And no one is talking about it.

@aaron_lubeck That is awesome.