Eric Howell

@realEstateTrent I love strip mall guy - however I own 400k of retail acquired mostly on cash on cash returns of 12%-20% - love the monthly cash flow

The biggest blind spot in real estate investing? The focus on cashflow above everything else. That's what people ask about most, not the actual asset. Not the merits of the deal. Why? Digging into whether the purchase makes sense or not takes lots of expertise, time and effort. Saying "well this is a 5 cap, and that's a 6 cap" is easy to get your head around quickly. It's like focusing on the milk and not examining what shape the cow's in. If you buy a $3M property that you really should have paid $2M for, you're losing almost 7 years of that cashflow right away, as a paper loss. Those monthly checks become the smoke and mirrors. They're distracting the investor from what's really going on underneath the surface. The smartest money's looking at the asset first - that's what real estate investing is. That's how you get ahead.

@realEstateTrent Love strip mall guy - my attorney has invested in my last twenty deals - in fact never asks to be in but if offered he has never said no. Good decision

Since 2006, we've had many different investors. Top execs at multi-billion $ real estate funds, private equity execs, private wealth managers w/ decades of experience, publicly traded company execs. But no attorney has ever participated. Just something I recently observed.

@sweatystartup Extra space and public charge 5% management fees - 10% seems above market

A real estate deal of ours with $10 million of all in costs will generally be financed as follows: $5 million bank loan $4.65 million investor cash (LP) $350k our cash (GP co-invest) LPs own 93% of the deal. We own 7% of the deal. We also own 35% of the upside (carry).

@tobydoyhowell How about Aaron judge or MLS soccer valuations?

What was the last Big Thing that actually turned out to be a Big Thing? 5-min delivery❌ Micromobility❌ Clubhouse❌ Metaverse❌ Web3❌ DAOs❌ FTX❌ Other than addictive short-form video, I feel like there's been way more misses than hits recently

@tobydoyhowell Not even close - raspberries and strawberries are the bash brothas of the fruit league ! Team one

Roommates and I did a fruit draft last night. Who wins? Team 1: Raspberries, strawberries, cherries, apples, acai Team 2: Watermelon, kiwis, peaches, bananas, grapefruit Team 3: Blueberries, mango, pineapple, clementines, lemons

@Forbes L#fm

Interviews with more than 20 former employees, most of whom worked directly with the founder and CEO, Maryellis Bunn, in MOIC headquarters—several still at the company right until March’s layoffs—point to a culture problem that cuts across the company on.forbes.com/6014Guvh6

The @NoLayingUp podcast with Steve Elkington is the greatest thing I’ve ever listened to. Every other pod is vying for a distant second. Absolutely hilarious.

How sad

American Airlines has lost their way