Arctic Multifamily G

Some motivation for the weekend; you are what you eat. I ate dirt and after 24 long years, now I am buying dirt. If you want to be a great developer, start eating dirt today. It taste great, sometimes you'll find a worm. #motivation #entreprenuer #retwit

@realEstateTrent A lot. Idk if there is a $5MM house for sale in all of Alaska. Most I have seen is shy of $4MM

$5M 2,000 square feet, no yard New York City’s a funny place. What does $5M get you in your area?

@mhbroker1 From home with no money?!

😂😂😂please

@elonmuskADO Twitter

Help building owners be a few percent better and you’ll make billions

@notaarongrant Alaska 🌊🏔️⛵️

@mhprvpmvp I believe the statement of God is not real is ignorant. You don’t know he is not real. Greek literature shows over 5600 individual manuscripts of the story of Jesus while Alexander the Great only has 4, 3 of which being based on the first. Why not have faith?

@HamzaAdonis I’ve bought and redone a few buildings. Then every day life, gym membership, some travel, and new experiences

Where do you spend your money as an ambitious young man?

Listing says "Great income! Do the math." I did. The math is poop.

@stfuayen 😂☀️🪜🔥

Serious Question; why do brokers list multi million dollar properties at $3,999,995 when you could simply say it's $4.0MM?

I really need costar to stop calling me to make sure my listings are accurate

@gas_biz Toss up between Costco or Vitus

Which chain has the best gas?

@Blind__Luck I’d say once you get married

When in a relationship when is the right time to merge finances?

I am underwriting with Schedule Es and I learned today how someone can depreciate land

@torysheffer This is an awesome story with such a great ending. Congratulations!!

We just bought this property yesterday for $1.2m. - 19 apartments (18 - 1 beds, 1 - 3 bed) - 8 (12x24) storage units - $14,780 current rent roll Here's how it happened: I cold called the owner in November of 22. He wasn't ready to sell. I tried to follow up consistently with no responses after that. June of 23 I got an email from a broker I know well announcing the new listing. Asking price $1.45m. I immediately offered $1.05m. Seller countered at $1.35m, I countered at $1.15m, rejected. Late July I followed up with the broker to see if pricing had moved. It hadn't. October I got a PRICE REDUCTION email. New asking price, $1.35m. Aka, no change. Updated my UW based on October rates, offer lowered to $1.05m. November, broker texted me that they countered another group at $1.25m to see if I could get there. First response after updating debt quotes, no chance. Two weeks later (Nov 17) got a great debt quote ~100bps below all others with 25 year am. Texted the broker that I could get to $1.20m. Seller countered at $1.24m. 10 days later (Nov 27) I got back to him and said $1.20m needs to be the number. Next day, broker calls me and said we got a deal. PA out immediately, fully executed November 30th. 45 day DD (0 issues), 30 days post DD to close. Closed February 13. Funded with $655k of LP equity raised in <24 hours with one email and a few phone calls. Debt terms: $900k loan 6.49% fixed 5 year term 25 year amortization 0.4% lender fee Now the real work begins!

@mhprvpmvp A national broker been selling Alaska MHPs at 5% caps. Not sure what’s up but there ain’t no way these parks are worth that. Land ain’t selling, nothing being developed. Can’t be a land play… yet they sellin at those caps (market 2 years ago was 10% cap)

Is there a housing crisis or just bad operators with a ton of vacant units?

@NNNIncome @realEstateTrent I disagree greatly with your opinion

@realEstateTrent Alaska. Hands down.

Many say Southern California has the best weather in the continental US. Which area has the worst?

@huntercoldcalls Can confirm, was one. Now I take cold showers and make cold calls

We have an ugly problem in America Cold emailers They’re dirty, smelly, and terrible for the economy They send their silly little emails because they’re afraid of picking up the phone A total waste of space and resources Here’s what the typical cold emailer looks like

@realEstateTrent As a broker I tell people I do deals with that if they bring it to me before market, I’m happy to give them my fee. Hasn’t worked yet, thinking of getting rid of my license soon 😳

Biggest blind spot in real estate: Buyers who get a real estate license so they can represent themselves and cash in on commissions. That $50k you think you're saving is costing you a lifetime of dealflow. And millions of dollars.