@__mihir
My kids have no income, can’t squat 200lbs and literally have no pull with any government officials.
Dropped them off at the orphanage - I can’t have them pulling me down.
@Austen
Amazon can't sell Dune 2. They have a license that expires; when their license expires, you no longer are able to watch it. Are you really buying it, or is it like a very long-term rental?
We manage a unit in a HOA.
The water heater is out.
HOA says we can’t replace it until the board votes Wed.
Hot water is required for habitability.
We told them send us a letter accepting all liability for claims & lost rents & we will wait.
Stay with me for a second.
What if we dug holes to fill up with water when in rained, so we could “reserve” water for later. Still workshopping a name for the product, maybe a “resavoir”
I’m firing a client today with a pretty large portfolio.
Being disrespectful respectful to our staff while they are making earnest efforts to solve your problem is a zero tolerance fireable offense.
I hired an attorney from a fairly large law firm to handle a sizable issue I’ve been dealing with.
So far my experience leads me to believe he is better at billing than he at lawyering.
@BillAckman
@Harvard
@MIT
I hope a few resignations and firings don’t lead us to believe the problems are solved. We need to evaluate how these people came to positions of influence and make sure we don’t repeat our mistakes.
Lady at gym today: good job today, but you got rid of this thing (pointing to my belly)
Me: huh?
Lady: how often do you work out?
Me: four days a week
Lady: make it six and walk on the treadmill inclined with weighted vest everyday, you don’t need more than 20 poundss in the…
I judge people hard when they compromise their integrity over small $
Years ago, I had lunch w/ a broker who wanted to partner on a deal. Dude ordered h2o & then filled his cup up w/ 7up. It shook me. If you cheat someone out of $0.75, what’s happening when real $ is on the line
Hear me out.
Humans survived for somewhere between thousands of years and millions of years without taking their golden doodles to target for emotional support.
Maybe allowing humans to take their living security blankets with them everywhere they go is not a good thing?
PSA: if your rental property cash flows $150/month, it’s doesn’t cash flow. Repairs and maintenance will more than eat that up.
It’s not an asset, it’s an underfunded liability.
A buyers agents I’m working w/ right now is in the running to be my least favorite agent ever.
I asked for an update today, she responds
Danielle, I’m on vacation
Every time we talk, the first thing she says:
I’m on a boat
I’m skiing
I’m at dinner
I’m at the airport
I can’t.
My 3rd grade daughter, reads at a 6th grade level.
She just received the an Excessive Excused Absence Notice from the school.
My gut reaction is a Mark Twain quote:
I have never let schooling interfere with my education.
Am I wrong?
There’s an account encouraging folks to buy land.
I spent a good portion of my career in the development & entitlement space, incl. ~4 yrs working out busted land deals for the Lehman bk estate. Let me say the following:
Land is an easy way to lose $, and a hard way to make $.
We had a squatter at one of our properties, luckily, Management was able to get them out before they were able to establish any “rights”.
These knuckleheads absolutely wrecked the place. They spray-painted the lights, red and the air ducks black. 4k in damage.
To what end?
A buddy's insurance company just dropped him for non-payment.
His credit card was charged, then the insurance company reversed the charge, and THEN they dropped him for non-payment.
It's wild out there in the insurance space.
Ah, we are f*cked. I'm having dinner w/ a big law corporate capital markets guy.
He just mentioned a coming “wall of maturities.”
I was like, “I know cre is SOL, lolz.”
Broseph is talking about a corporate, not cre.
JPow is about to Houdini the cash on the sidelines.
Our kids have some kids over for their first play date today and one the kids asks if they can stay over for dinner. My wife says sure and asks if the girls would like spaghetti for dinner. The girl responds back, “no thank you Christine can you make steak with chimichuri”.
Last year we started pulling out garbage disposals across our apartment portfolio during turnover/renovation and replacing them with sempre screens.
End result for those units: $0 garbage disposal maintenance and 0 complaints about lack of garbage disposals.
Stay with me for a second.
What if we dug holes to fill up with water when in rained, so we could “reserve” water for later. Still workshopping a name for the product, maybe a “resavoir”
My main capital partner and biggest client just called and told me to charge their properties a few thousand dollars and to pass it on my team as a supplements to their bonuses.
I’m so thankful to have the opportunity to do what I love in the service of genuinely good people.
I met w/ an agent yesterday & he was telling me about this buyer he met through a lead gen program. The guy is looking for 3.9m home and
lives in New York.
Trades crypto
Only communicates via whatsapp
Offered to teach the agent to trade crypto
It broke my heart to tell this kid
A client who lives in a high fire zone in Corona, just emailed me asking about their renewal they got from Farmers.
Was $1,160 last year, this year it was $7,669.
Farmers has left the building.
New cafe opened near me that serves coffee in the morning and cocktails at night.
The place is so busy they had to buy the lot next door for more parking.
Why do we charge a full month’s security deposit when tenants have great credit?
Because every time we have an inherited tenant with a $500 deposit move out the unit looks like this.
Every damn time.
@nayibbukele
I can't imagine a better set up for an economic boom than freeing a country from the tyranny of corruption.
I have never seen a more optimistic population than the people of El Salvador when I visited early this year.
Long El Salvador.
Today we are adding a new line to our lease:
"Tenant is solely responsible for determining the appropriate dimensions for appliances they purchase on their own. Housing Provider will not modify the property to accommodate appliances that are not the appropriate size".
My banker at
@firstrepublic
has been proactive in communication. He and the management team have my full confidence. Our deposits are safe and are staying put.
California has approved new regulations to allow wastewater from showers and toilets to be purified into drinking water, as the nation’s most populous state braces for years of drought-induced shortages, per NYT.
13. Whether you intend to hire a property manager or not, you need to include a management fee in your underwriting. If a mgmt fee causes your cash flow to go negative, you aren’t buying an investment, congrats you just bought a low paying job.
I know folks are down on X - but it remains👑.
Last night I signed a term sheet w/ a bank I never heard of off the rec. of someone with 11 followers (includ. me).
I dropped the guy's name, & the relationship manager said he doesn't UW his deals anymore, it's just approved.
I stopped cold calling.
I started cold answering.
Cold Caller: Hi Mr. Morgan! Do you have a few minutes to chat about life insurance?
Me: Sure, but first, can we chat about your skincare regimen?
A family of 2 workers making $20/hr will gross about $83K/year. The max they qualify for is $2.3K (that's a studio in our market). If they don't win the affordable housing lottery, they are SOL.
We need to lower market rents, & the only way to do that is to build more homes.
@moseskagan
@ArtemTepler
Absolutely devastating.
I know this isn’t the time, but I can’t help but think ULA and other reckless regulations were contributing factors.
I don’t think policy makers understand the risks folks take to deliver housing (a thing most of them agree they want).
+9 years ago my wife and I were preparing to do a little painting at our house. We left to run a short errand and our dog some how opened an opened gallon of paint. My dude then freaks out runs all over the house. I mean every square inch of the house and furniture.
Billion Dollar idea.
An annual subscription to a service that provides you with appropriate cards for each holiday for your wife.
Who is building this?
LA cap rates need to be 100-200 bps higher than OC or SD to account for regulatory risk.
“while a judge has ruled that, under L.A.’s rent control law, there’s no legal reason to evict her.”
@trdny