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.

@credealjunkie Tell him that has never happened in the history of real estate

Kid’s dropping truth: My 11yr old: What’s that website do? Me: This is a spreadsheet, it helps me value properties. Her: How? Me: I tell it how much income and expenses the property has, and it tells me how much we should pay. Her: Wow that’s a lot lines, how do you keep track of everything? Me: It’s tricky but I’ve been doing this a long time, I have a lot of practice. And we use the same template for every new investment. Her: Yeah but what if there’s a mistake in the spreadsheet and you don’t notice and you pay too much? Me: Well, that’s a phenomenal question kid.

@dfkenn I heard the original Asian recipe used to have cocaine in it. Wonder if it still does. Will report back!

@donkeyDdevelops China, years ago. Those cans are wildly heavy. No carbonation was a big plus too

When is the last time you saw (or drank) an OG Red Bull from Thailand?

So, we use @DealNav as our CRM at the office. It’s legitimately awesome and built by real estate people. My team wanted a feature built (pins on a map that shows deals nearby that you’ve also looked at) and they built it custom for us. Pretty badass and helpful. Anyway, I said I’d show @acquisizioni some Twitter love as a thank you, and totally forgot. Because, ya know, I’m busy and shit. So he busted my chops and now I’m making an offer to all my followers that he has not approved at all. Try @DealNav and they’ll give you the first month free if you mention this tweet. Also, you should think of any insane feature you can possibly imagine and see if you can get them to build it for you. Honestly, see how far you can push the envelope. And because I don’t get paid for any of this and I love supporting entrepreneurs, please keep me posted on the insane features you request. If you end up with great software and @acquisizioni has a nervous breakdown in the process, that would warm my heart.

Israel to Trump rn

Listen Claude. I’ve attached the entire data room in your project files. I need you to take my draft IM and expand on it. This is going to Oaktree and Artemis, follow the format we used for them before. I’m going to get a 3 martini lunch. Don’t fuck this up.

@credealjunkie Welp I guess I'm gonna have to turn on notifications for your account for the next couple days

Acknowledging that the Spanish have a bit of a checkered legacy in the Americas, they did leave behind some architectural gems. Kudos to the handful of local groups and neighborhoods that have kept these beauties in tact and modernized over the centuries.

@benjamintink Yes sir

Might have a project *pending due diligence* on the edge of an Eichler neighborhood. Go full infill, Eichler copycat?

@PatelBuilder @weddingowner More common than you might think!

@donkeyDdevelops @weddingowner How common is this actually

I think it's absolutely hilarious that GCs are convinced that developers make all the money in this business. Like, buddy, you're the guy with three Tahoe houses and a boat. I am the guy who drives a Toyota.

@RobTerrin Can't wait!

@donkeyDdevelops I'm rooting for you donkey! Just don't forget us little guys when you're big time

Me: is it a marketed deal? Broker: no, definitely not. completely off market. totally not talking to anyone else Me:

@credealjunkie Have heard amazing things about PC and would love to go one day

Good morning will be posting real estate p*rn all week from Casco Viejo in Panama City where apparently the only rule is that each building must be more beautiful than the next.

@otter401 I'm hearing about more private groups doing the WTE program without any tax credits. Still a low income tenant profile tho

@donkeyDdevelops For low income/LIHTC housing, yes. Not for missing the middle income cohort

This would be huge. I've posted previously that FL has Live Local, TX has HFC deals, Northeastern states have PILOTS. All of these make property tax exemptions available for properties that restrict incomes to between 80%-120% of AMI (missing middle). CA needs to do this too.

@Snowball_Dev At least one of us is making money!

@donkeyDdevelops I am pretty sure we will be in the money on every deal!

@RobTerrin One day I hope to be one of the few

@donkeyDdevelops GCs are probably right. Developers make all the money, but it's skewed, so only a few developers make all the money.

@SasqLocke All financed I'm sure

@donkeyDdevelops As a GC, the last few developer cars I’ve ridden in between locations: Mercedes G wagon, Land Rover, Audi A8.

@follard There's really no other reason we do this

Have invested in deals where the GC very clearly made more than the developer. Have also invested in deals where the agent made more than the developer. Take all the risk, get paid last, and drive a less expensive car than those who took none. For the love of the game!

@Snowball_Dev Paid now vs not paid at all!

@donkeyDdevelops Its a classic « paid now in cash » vs « paid later vi promote » trade off.

@DMAC_19 @credealjunkie Tech layoffs were at the big publics. Everybody got hired back at startups or went and started their own. Ai eating the world right now.

@credealjunkie You guys are defying gravity. The rest of the country is death by a thousand cuts and you’re selling 4.75 caps. What about all the tech layoffs?

What will happen first in the San Francisco housing market?

@TravisLipski @weddingowner So true

@weddingowner @donkeyDdevelops 30% margins or they get real grumpy.