John | Real Estate Developer 🏘️

My latest house flip I completed. One of my favorite designs yet. Purchased for $180,000 Listed for $319,500 New roof, electrical, plumbing, showers, everything. Over $75k spent on upgrades. #realestate

@SunShakSunday I once offered $85k on a house cash for months, talk to her almost every other day. She signed a contract one day to sell it to a random wholesaler for $50k because she emailed me at noon and I hadn’t responded by 3 pm. True story.

Offered ~80yo couple $999,999 ~6 weeks ago + Transfer Tax (up to 1%) + Legal Fee (up to $2.5K) + Moving Credit (up to $2.5K) + Payoff HVAC loan ($7.5K) + Flexible Closing + Assistance finding next home They just listed on MLS for $1.075M WHAT THE ACTUAL MOTHERF#$%^&*()*&^%$

@Wildlaw406 This is happening in Texas in real time.

Law enforcement in Montana: Steal a $3 candy bar, and you get charged with a crime. Steal $70k of funds from a customer on the claim you need them to purchase materials to build their home that you then never build, and it's "a civil matter." Lesson: steal big or go home.

@JoshRainerGold I feel like this is a normal behavior for people under 35 in Austin.

Thinking of becoming a functioning alcoholic. Nothing crazy just having a few drinks spaced throughout the day. Has anyone tried this?

@LA_Multi_Fam But then you don’t get to call it new construction?

If you tear down a house in LA and build new, you’re going to pay “linkage fees.” But if you keep just one wall and call it a “renovation,” you avoid those fees. In high-cost areas like West LA linkage fees are $23.20 per square foot. So if you’re building a 3,000 sq ft house, that’s $70,000 straight to the city. Wonder why so many developers keep that one wall up :)

@moseskagan Exactly.

Sharing a painful lesson: As a real estate operator focused on a specific niche in a specific market, you are a source of: - Diversification for capital allocators, who give you a small chunk of their $, but - Extreme concentration for yourself, since you will, almost by definition, become vastly over-allocated to your market and niche This can be really great, if your market & niche go on a good run (like ours did, '12-'20). And it can be really bad, if your market & niche move against you (like ours did '20-present). There's not much you can do to shield yourself, except try to diversify as much as possible when you have liquidity (which is pretty unusual in our business!).

@CaseyMericle So you’re telling me I’ve over spent by at least $50,000+ in my career..?

If you flip Ask the title company for an open title binder Why? It can save you a bundle and title insurance There’s going to be big numbers for this post, mark my words!

@girdley This isn’t going to work. I always realize how much older people are on here than I am. The phone has become apart of their world at this point. It’s too late. Also who takes notes on paper anymore in higher grades?

I usually dislike Nanny State stuff but this new Texas law is amazing. 10/10. No notes.

@InvestFortWayne You should!

@johnxbuilds I've been considering creating a YouTube channel to document some new development projects, rental portfolio management, and house flips. Have watched his content for years and was going to follow his informal model. Seemed like a great guy. Thanks for sharing, Mark! RIP man.

RIP TO MARK One of the main guys that got me into real estate. He was always right even when i thought he was wrong and stuck in his ways. If you ever wanted full transparency on real estate, his youtube channel & ig are a goldmine. HUGE loss to the community. 🐐

@hunterjones Sitting here thinking, his page was one of the last fully transparent pages RIP

@johnxbuilds Super sad. Followed him since before I got into real estate. He was a real one.

@TyronMcDaniel Same… you never know

@johnxbuilds Just saw that today… would talk to him all the time on IG! Cherish life

@JeffGrenz I don’t think any of us are doing any of this right atp

Am I not doing this right?

I said this and I’ll say this again. Good labor is not cheap. Be willing to pay for the right people. Some of the best guys I use charge, but they always get it done.

@DanielKaplanRE I legit know 2 older guys with 8 figure portfolios that have said the same. Another guy has already done it but it was Vietnam.

My favorite real estate lead conversation to date: I was talking with an older individual who was looking to liquidate his portfolio Over the last 20 years, he built an 8 figure real estate portfolio without an ounce of debt Very successful in his endeavors The plan here was to do a full portfolio sale I asked him how come he was looking to walk away from these properties - He owned them free and clear - Was cash flowing a substantial amount - He had management in place to run his day to day ops Every persons dream I kid you not, with zero hesitation, he says: "Yeah I'm going to liquidate and move to the Philippines to marry some 20 year old" He said a couple of buddies did the same exact thing and he wanted to follow in their footsteps 😂 Legendary Somehow, that was not the first time I heard that from a seller

@DonovanBuilds My current funnel is: Events/Bars —> Build/Flip Real Estate —> Repeat I personally like holding single family homes in decent areas that I don’t expect to greatly cash flow but have significant equity and require less maintenance. I do believe in long term appreciation.

Cashflow on just a few C class rentals is a myth Of the 31 projects developed so far we refi’d 8 of them I’m in the process of selling them all The cleaning business I bought last year has distributed more than all 16 units Any amount of cashflow get eaten up by - unit turns - maintenance - vacancy - property taxes + insurance (in TX) I think it makes sense if I could’ve gotten to a critical mass of units but with rates where they are, didn’t pencil to refi anymore Was willing to ride it out with the higher rates and expenses but the nail in the coffin was housing authority reducing section 8 rents almost overnight by 10% In TX, it’ll be strictly build to sell however I still like the possibility of build to rent in CA due to prop 13 I have seen the light that the #SMB crowd has been preaching!

@RealEstateAnuj Yep, every contract is technically assignable

seller: remove "and/or assigns" from the agreement us: ok seller: signs we: assign anyway

@seandsweeney There’s a few, I think only 3 articles from them where I was featured. Didn’t know magazines still existed lol (They reached out, didn’t pay)

@johnxbuilds Were you in the magazine?

This a scam, right? Please help me so I don’t click on another bad link and get locked out of my account for days.

@GayBearRes Won’t happen. Physical labor work ethic is almost completely non-existent amongst the youth.