Charles

21.8K posts

Charles

Charles

@Charlesaf3

I like real estate. Hated being a lawyer. (me leaving law boosted my school to t4, so that's a win/win) Small Resi/SFR

Virginia เข้าร่วม Eylül 2008
913 กำลังติดตาม767 ผู้ติดตาม
Des Jennings (Ski Town Broker)
@credealjunkie The guy’s salary is paid by ~1.5 million Realtors’ dues who just want to hear that everything will be OK so that they don’t let their membership lapse after not selling anything for 2 years. He has executed the job perfectly.
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Andrew Jeffery
Andrew Jeffery@credealjunkie·
And you thought your job had low standards: — “We are encouraged that home prices, at least for now, have stopped declining.” — Lawrence Yun, NAR Chief Economist, July 2007 (home prices declined for another 22 months) “I don’t anticipate any further major sales declines.” — Lawrence Yun, November 2007 (home prices declined for another 17 months) “The market is scratching the bottom.” — Lawrence Yun, February 2008 (the market did not hit bottom for another 14 months)
NAR Research@NAR_Research

Could the median home price one day hit $1 million? NAR Chief Economist Lawrence Yun shares his prediction & breaks down what could drive home prices to that milestone. What's on your mind about the real estate market? Submit your questions by emailing AskTheEconomist@nar.realtor

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Charles
Charles@Charlesaf3·
@moseskagan There is a lot of room for good PMs to grow in most cities - below the big stuff theirs a huge hole. Granted, it's there for a reason, it's a painful business
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Charles
Charles@Charlesaf3·
@moseskagan In hindsight, you have to feel pretty good about it, though.
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Moses Kagan
Moses Kagan@moseskagan·
We raised our largest ever fund in ~'21, then gave it back a year later, bc none of the deals we saw during that year came close to hitting the target unlevered yield on cost I had informally promised investors during the fund-raising. Cost my partner and me whatever we paid in legals expenses (and time) to raise the money, ~$3MM in fees, plus whatever we would have earned in promote. 100% worth it to keep our integrity.
Jason Lee@jasonjosephlee

I don't think we will ever raise a fund or invest in a fund. It just doesn't make sense to me. I know some real estate firms who have raised a massive amount of capital who are feeling pressured to place it by the end of the year. My friend told me they are lowering their expectations and looking at mediocre deals so they can place the money and justify making their fee income. The deal comes first, not second. If you have a great deal, the money will come. There's always a way to capitalize a great opportunity. If you are working on a great multifamily opportunity, my line is always open.

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Charles
Charles@Charlesaf3·
@James_West_PhD yeah I really think this is a structural issue, more than a political issue, these days, and there would be bipartisan support for a good plan. Which is a huge caveat I grant
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James West
James West@James_West_PhD·
@Charlesaf3 I am 100% sure you're right. It's nearly impossible to get insurance for the employees of a small business - I've had that problem in TN, and I've heard it's a major problem elsewhere.
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Charles
Charles@Charlesaf3·
I really think this country's happiness would be much higher if we do two simple things: Decouple Health insurance from employment and make housing cheaper by providing more of it. Both right and left should agree.
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Charles
Charles@Charlesaf3·
@KaoticLeftist @Zprtr1 Because primaries like this are a debate within the far left and general elections are a debate within the normal electorate. Applies to Republicans too, primaries are really messed up in the US and should be redone
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Charles
Charles@Charlesaf3·
@moseskagan So you're telling me you only get to see the most horrible things in every meeting? You must have PTSD by now
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Moses Kagan
Moses Kagan@moseskagan·
@Charlesaf3 Those get handled without my attention, unless they rise to the level where they cause flooding and potentially mold, in which case they are "remediations" and go into "complex maintenance issues"
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Moses Kagan
Moses Kagan@moseskagan·
Just finished my weekly meeting with our Director of Property Management and you all might appreciate seeing the list of issues we track together on a weekly basis. For each of these categories, people who work on in PM and/or Accounting complete their sections, then our Director reviews and presents to me at our meeting (which usually runs ~2 hrs). - HR and Office Operations - New Initiatives (procedures / tech) - New properties in Onboarding - New properties in Discussions - Fire compliance - Annual unit inspection program - Problem pets - Special situations (like tenants losing their minds, responses to break-ins, etc.) - Evictions - Complex maintenance issues / projects - EV Charger install projects - High water usage buildings / fixes - Systematic Code Enforcement Program inspections & follow up - City violations & follow up - Lender inspections & follow up - Insurance inspections & follow up - Section 8 inspections & follow up - Units on leasing hold & follow up - Online reviews tracking - Open work order tracking -Delinquencies tracking - Collections tracking Putting in place this system ~3 yrs ago was probably the single best thing we've ever done, from an operations perspective.
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Charles
Charles@Charlesaf3·
@James_West_PhD Oh god, I'm not sure I have a clue. Maybe a mandatory insurance system like a bunch of Europe has? I really think the current system hurts entrepreneurialism though.
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James West
James West@James_West_PhD·
@Charlesaf3 Devil's in the details! I'm wondering how you'd even START with decoupling health insurance from employment (and I agree that it would solve several structural issues to do so).
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Charles
Charles@Charlesaf3·
@Caffeindated @moseskagan I'll need to go back again. I actually drink a lot of wine but I mainly order it from California
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Moses Kagan
Moses Kagan@moseskagan·
If their kids aren't in the business, *so* important for self-managers to identify, vet and hire a property good, honest manager *while they're still young and energetic enough to oversee the transition* (and pull the portfolio back, if it doesn't work out). Otherwise, when they get too old to manage themselves, this is the result. (Recognize this is a self-interested post, but it happens to be good advice.)
Andrew Jeffery@credealjunkie

Heard a story that’s more common than anyone can imagine in SF multifamily: Family accumulates a portfolio of apartment buildings over 50 years. Handed down to adult children to manage. They can’t handle it, total disaster. Half the units left vacant. Portfolio liquidated.

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Charles
Charles@Charlesaf3·
@FreddyLA7 Best reason to support Germany in the World Cup
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Freddy🇩🇪
Freddy🇩🇪@FreddyLA7·
I just opened this Instagram account to help stop all the fake profiles and especially the ones trying to scam. You don‘t need to follow it, the most important stuff will still be on here, but I‘ll probably spam some random photos from the day into the story.
Freddy🇩🇪 tweet media
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Charles
Charles@Charlesaf3·
@molzer I've heard the food is great in KC. Forgive me but it's the main reason I would ever want to visit
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Zach Molzer
Zach Molzer@molzer·
Okay fine; Bar Phoebe food leak: Breakfast Burrito w/ smoked salsa It will change your life.
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Jason R Gaines™️
Jason R Gaines™️@RetailBrokerHTX·
@imxianx Hey whoa there…I represent nothing Bundt cakes down in these here parts. Wildly successful concept.
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Jason R Gaines™️
Jason R Gaines™️@RetailBrokerHTX·
A client bought an old Kroger leased to pickleball. He ranted to me his basis, that it was a 10% cash on cash, etc Called me just now - May/June they short payed rent, they “don’t see a path to getting above water” By 2030 pickleball will be gone and will be a cautionary tale
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QSR Franchisee ⚡️
QSR Franchisee ⚡️@MUnitfranchisee·
@RetailBrokerHTX You know who is making money though? Basketball and volleyball facilities. Between AAU, kids rec leagues and general demand for adults that want to rent them out hourly, it’s nearly impossible to get a reservation. Some of them are rented out months in advance
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Charles
Charles@Charlesaf3·
@RetailBrokerHTX I think it'll still be here but not at anywhere near its current consumption
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Charles
Charles@Charlesaf3·
@robbiehendricks Is it worth offering the job as a side gig to one of your employees or would that cause issues? Property maintenance is not my favorite thing but I will say I have every tool from a backhoe on down around here somewhere though I admit I have trouble finding half of them
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Robbie Hendricks
Robbie Hendricks@robbiehendricks·
Just met a guy that makes $125k/year cleaning residential grills. Quick story: I've got a built-in outdoor Coyote grill. Those things are a bear to clean and maintain. So like anyone, I googled "Grill Cleaning"....and John shows up. The grill cleaner. Quoted me $395 to do a full "back to new" grill cleaning. Here’s the conversation: ----------- me: seems steep john john: it's probably a 5-6 hour job if you do it yourself me: i don't want to do that....how long will it take you? john: probably 4 hours since I have all the gear and the best cleaning stuff me: hmm...how many of these do you do? john: do 2 a day during the week, sometimes 1 on saturday mornings me: and these are all $395? john: yup, at least, depending upon size and brand me: so you make over $100k per year doing this? john: i take 8 weeks off a year, so it's around $125k before small expenses me: do you spend any money on ads? john: nope me: do you have a shop? john: nope, just a van me: how's consistency and repeat biz? john: very consistent, i get people on annual maintenance plans so most of my business is just pre-booked rinse and repeat me: not a bad gig, john ---- There are so many ways to make money if you're just willing to take on projects that other people don't want to do. John is just another example. He could probably scale this thing, too. Has a huge book of repeat business. Trust with his customers. Could probably bring on staff and scale into another home care item or two. Or he could just keep it simple, make $125k, and live a low stress life. Nice gig.
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Charles
Charles@Charlesaf3·
@mcuban Extend Medicare and raise the rates. This might cost more, but we really need to decouple insurance from jobs in the U.S.
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Mark Cuban
Mark Cuban@mcuban·
I have an idea for you. Get a bunch of Dem donors to buy or lease or take over a small hospital. Plenty are close to going out of business. Have it charge ONLY MEDICARE RATES. For everything. Be completely transparent with every penny you spend so everyone can see what it truly costs to run a small hospital. See if you can make it work. See what services you can offer. Do not ask for any government subsidies. It has to operate at least to break even. There are some hospitals that already do this. It wouldn’t be unique. If it works out, you can buy another one. Then another one. Till you have a network. I’ll help where I can. And for those asking the inevitable, I have tried. As I posted earlier, they all ghosted me after learning how transparent I wanted to be.
Ro Khanna@RoKhanna

Mark, I appreciate your thoughtful and sincere approach on. Are you familiar with Alison Galvani work at Yale. She shows that extending Medicare to 55 is not that expensive. It would save costs because Medicare has lower administrative costs. People aged 55-64 some of the most expensive in private market and you would reduce spending on them. You also need Medicare to have more leverage to negotiate for drug prices --something you have led on. Yes, there is a cost but having progressive taxation to pay for it means that working and middle class Americans would be paying less than on their premiums and employers would be paying less than they would premiums. You eliminate a lit of the middlemen costs like hospital facility fees, private insurance executive cost, administrative and advertising costs, high mark up on drugs etc. Do you agree that a single payer system would be better for costs? Are you open to expanding Medicare? What would it take to get you on board? If you made the case and on the administration, it would help!

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Charles
Charles@Charlesaf3·
@HistoryBoomer There is bipartisan agreement on being insane idiots. Both sides are just absolutely in love with their stupidest takes.
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Carl
Carl@HistoryBoomer·
Republicans just need to not be crazy. I took an Uber home from the gym this morning because I won at poker on Monday ($81 big ones!). My Hispanic driver and I chatted about the weather and kids (he's got four!), then segued into COVID (we were seeing lots of kids in graduation caps on the street, and I mentioned that my son's college graduation had been semi-canceled due to COVID). After I made sympathetic murmurs ("yeah, that time sucked"), he went off on a restrained rant about how we went too far, keeping kids home, wearing masks in cars, and it was bad that people lost their jobs because of requiring vaccines. I don't know how he voted, but I bet there is a strong chance he went Trump in 2024. And I'll bet, given Trump's dropping poll numbers among Hispanics, there's a good chance he won't vote Republican in 2026/2028. All Republicans have to do is not be crazy, and they can scoop up voters disenchanted with Dem excesses. So what are Republicans talking about? A stupid Iran War and taking away women's right to vote. 🤯🤯🤯 Insane.
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