donkeyDdevelops

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donkeyDdevelops

donkeyDdevelops

@donkeyDdevelops

Fmr inst apt developer. Venting, memes. Occasionally adds value.

Californialand Katılım Şubat 2025
610 Takip Edilen854 Takipçiler
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
How to be a successful RE developer: 1) Find deal 2) Get excited about deal 3) Tell everybody how awesome deal is 4) Actually underwrite deal, like fr 5) Discover deal is actually terrible 6) Abandon deal 7) Repeat Follow this formula and you will be very successful.
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
Why are you, as a working adult, still splitting meals and paying people on Venmo.
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ResiClub 🏡📊
ResiClub 🏡📊@ResidentialClub·
All 15 of the biggest homebuilders tracked by ResiClub are seeing year-over-year margin compression Bigger incentives and outright price cuts in the weakest markets, coupled with stubborn land prices, are squeezing margins
ResiClub 🏡📊 tweet media
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@Johnsonville26 Just like the pros do it! You, too, can own single family rentals. Just like Blackstone!
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
Main street is the ultimate bag holder, exhibit A:
donkeyDdevelops tweet media
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Pat Carino (d/b/a Acquisizioni)
Pat Carino (d/b/a Acquisizioni)@PatCarino·
Anyone on ReTwit nearby wanna get a drink? My dinner plans just push an hour and I don’t feel like looking at deals my analyst is sending me that I already know don’t pencil
Pat Carino (d/b/a Acquisizioni) tweet media
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@real_duder I would not attend. I think I died a little bit inside just by reading that.
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Dev Dude
Dev Dude@real_duder·
@donkeyDdevelops Strongest endorse imaginable! Major pet peeve of mine. I’ve got 1 group of friends who insist on Splitwise for BBQs and stuff, and everyone adds the 6-packs they brought… so petty. I honestly avoid these events with them because I don’t want paperwork coming out of my chill time
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
This. You can read the thing a million times, but until someone (or multiple someones) at the city CONCURS with your interpretation of the code, then you don't really have confirmation.
Pat Carino (d/b/a Acquisizioni)@PatCarino

Analyst: I read this one section of zoning and I think this is the answer Me: read the entire zoning section word for word and confirm Analyst: AI said this or this is the answer to your zoning question Me: read zoning word for word and confirm Analyst: would it be possible for me to just call the town to confirm? Me: no - read zoning word for word and confirm 😂 I remember going through this process (minus AI) when learning how to read zoning regs. Print out, highlight, use your brain THEN call the town to confirm anything you are unsure of.

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Terrible Maps
Terrible Maps@TerribleMaps·
Apologies for the accuracy on this one
Terrible Maps tweet media
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Jack Saba
Jack Saba@JKSaba44·
@moseskagan If condo laws were resolved, could units of a building be sold independently for less than the threshold and not be taxed under ULA even if the total sum of the building is above the threshold?
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Moses Kagan
Moses Kagan@moseskagan·
For those who haven't been following along: Most of the political class in LA (very much including two of the three leading candidates for mayor) actively supported the passage of a poorly designed real estate transfer tax (ULA), which slammed the brakes on development of the new apartments, office space, stores, hotels, warehouses, and, yes, mansions a healthy, growing, prosperous city needs. Spare me the "experience" takes, please.
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Grok
Grok@grok·
Haha, perfect challenge! The German word for that sweet post-leveling victory is **"Tiefstbieterunterbudgetglück"** — the profound relief and quiet triumph when the lowest bidder lands $20k under on an $8M scope after three brutal rounds. Use it in a sentence: "Endlich Tiefstbieterunterbudgetglück!" 😂
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Antonia
Antonia@antonia_mdprjct·
Is there a German word for “after three rounds of leveling, our lowest bidder was $20k below budget on an $8mm scope”?
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@otter401 Anti-housing pols and NIMBYS: "ItS tRiCkLe DoWn EcOnOmIcS!" I agree w/OP, but I don't think the argument sways anyone who wasn't already YIMBY
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Jeff Feldman
Jeff Feldman@Jefffeldman·
Me checking treasuries tonight.
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Jim415
Jim415@Jimmydahitman60·
@credealjunkie @donkeyDdevelops Type I construction with 4–10 stories underground and a legacy land basis likely needs a roughly $2,500/SF exit just to begin penciling out.
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
Have tried to buy sites from this guy 2-3x in my career and he was a nightmare to deal with. Completely irrational and unreasonable. This does not surprise me at all. I think it says more about him than the state of the market (although the dev market is still not great rn)
Nightingale Associates@FCNightingale

Entitled San Francisco high-rise resi sites fall into default before shovels hit dirt. Lender Arixa Capital has served Forma Development Design Management with notices of default tied to two downtown sites slated for residential high-rises. The defaults cover a $9.3 million loan linked to 896 Folsom Street and a $5.8 million loan tied to 777 Sutter Street. -TheRealDeal #commercialrealestate therealdeal.com/san-francisco/…

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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@FARlikewhoa Lotta guys grew up in the low rate high growth salad days of last cycle and they are shattered to learn they now have to grind and hustle to find deals that make any money It's not supposed to be easy
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Farhan Tariq Mahmood
Farhan Tariq Mahmood@FARlikewhoa·
Great piece by Sam Lawhead at CBRE in his substack. The apartment trade has shifted from a momentum trade back to a real operating business. Basis, cash flow and actual operation matter most. We may not see cap rate compression and excessive rent growth like we did in the last decade and that’s ok. Today we’re underwriting deals to get to 8%+ cash-on-cash and that is great. The easy money is over. Apartment investing isn’t. open.substack.com/pub/housingand…
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@Mac__Bernie Guessing there were tenants/income in those buildings at the time and maybe they underwrote that. I should call them and ask if they want to sell. The Sutter property in particular would be a great little apartment project assuming no parking
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Mac Bernie
Mac Bernie@Mac__Bernie·
@donkeyDdevelops It was an easy pass. Will be interesting to see how Arixa does. I didn’t realize they did land loans.
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donkeyDdevelops
donkeyDdevelops@donkeyDdevelops·
@credealjunkie Works about as well as every time I look in the mirror and command myself to be taller. I'm still waiting!
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Andrew Jeffery
Andrew Jeffery@credealjunkie·
@donkeyDdevelops If I say “we should make it easier to build” 100 times, does that make it easier to build?
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Keşfet

@weddingowner @Johnsonville26 @PatCarino @real_duder @JKSaba44 @moseskagan @grok @aussieflya