Jason Richards @SimpleCRE Twitter profile | Pikagi

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Jason Richards

@SimpleCRE

11,079

Followers

668

Following

317

Media

6,447

Statuses

I like real estate and LP investing. Principal of a CRE firm/fund. Former @NAIGlobal Board Chair. *Not selling a course.

Greenville, SC

https://t.co/LkyMsL3TB9

Joined December 2020

Don't wanna be here? Send us removal request.

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@SimpleCRE

Jason Richards

3 years

I started investing in real estate at a young age and thought I knew it all. I was wrong, and I've learned over two decades that an established network of expert providers is essential to make it in this business. A thread of the contacts every property investor should have: 👇

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@SimpleCRE

Jason Richards

3 months

Two public plazas in the middle of our downtown that have seating and tables. Two blocks apart. One is always full, and one is usually completely empty during the day. Can you spot the reason?

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Jason Richards

5 months

Fun fact I learned yesterday: The combined GDP of these six states would make them the world's third largest economy.

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Jason Richards

9 months

A business friendly environment with a reasonable cost of living and a growing population - investing here seems obvious.

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Jason Richards

5 months

@dieworkwear He lost me when he said no one wears bow ties. Factually incorrect.

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Jason Richards

7 months

This duplex is what I would consider "covert density." A single outer door opens to a courtyard that hides the two front doors from the street. It blends in perfectly with the surrounding single family homes.

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Jason Richards

12 days

If you work in the real estate business and someone emails you from an AOL email address, you'd do well to take them seriously. IYKYK.

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Jason Richards

5 months

Over 40 years ago, our city leaders made the decision to narrow our Main Street and plant trees. The photos show the same spot at the beginning stage and again just yesterday. The impact is clear. Every downtown in America should figure out how to add trees.

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Jason Richards

2 years

Always wondered how the small, hard-to-find fountain pen shop here stays open. Always empty and pens $100-$3k. Finally went in today and chatted with manager (and learned a lot about pens). They sell 200 pens. PER DAY. 95%+ online. Store is basically the business HQ. Love it.

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Jason Richards

2 years

I feel like this needs to be said explicitly on Twitter every now and then: If you have a 9-5 job that you enjoy, pays you well and enables you to invest for your future and retirement, don't let people on here make you feel bad about it. You're lucky.

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Jason Richards

4 months

@RobertMSterling I believe the long-time Ace Hardware near my house still allows individuals to have a store account that gets billed at your home monthly. Old school style - not a credit card.

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Jason Richards

1 year

The same view separated by several decades. This is the type of positive change that can occur when you have a city that actually follows through on strategic plans and embraces public/private partnerships. I am so fortunate to live and work here.

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Jason Richards

19 days

If you're in real estate development long enough, there will come a time when you realize that railroad companies are crazy powerful. Those easements... 👀

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Jason Richards

3 months

Your weekly reminder that living in smaller, secondary markets in the southeast is a thing. And it’s wonderful.

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Jason Richards

3 months

Not sure I've ever seen a single family home where the deck's footprint is larger than the actual house. Can't imagine what that cost to build. Cool spot, though - $3M for house on 65 acres about 20 minutes from downtown Greenville, SC.

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Jason Richards

1 year

A major indicator of having “made it?” When things that used to be “problems” become “inconveniences.” Your home’s AC is out. Your refrigerator dies. Your car is on its last leg. For many, these issues can be a major financial blow, and they may not have the flexibility with

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@SimpleCRE

Jason Richards

1 year

Here's my advice if you're a novice looking to get started in real estate investing and have $25-50k you want to place right now: Don’t.

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@SimpleCRE

Jason Richards

8 months

You want opportunity? $929 billion in commercial real estate loans mature in 2024. There you go.

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Jason Richards

5 months

@SpaceCoastCRE This is the American way. I have a friend who is a senior partner at a large local accounting firm that handles tax returns for lots of folks we know. He doesn't share names of course but says I would be shocked at how little people make and how much debt they carry.

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@SimpleCRE

Jason Richards

3 years

Everyone on Twitter who says "don't go to college" went to college.

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Jason Richards

3 months

@dieworkwear I asked you last year for an umbrella recommendation, and you gave some great options. I was so thankful for the intro to Davek - I bought several and love them. Your knowledge of quality products is unsurpassed.

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Jason Richards

5 months

A pedestrian street with sidewalk cafes and a giant sunshade? The world needs more of these.

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Jason Richards

2 years

Real estate investors: you can either complain about rates or you can find a way to take advantage of the fact that you're entering a period with less competition and more product. Those with the right mindset will win.

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Jason Richards

1 year

I know I’ve posted it a dozen times, but come on… how could you not want to live here? I love this amazing, walkable city.

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Jason Richards

3 years

How to get started in real estate investing: Buy something. If it goes well, you make money. If not, you'll scrape and do whatever possible to salvage your investment - and learn a lot along the way. The bad small deals I made early helped make me a success later. Jump in.

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Jason Richards

2 months

These three quonset huts (4,000 sf each) have been for sale FOREVER in our market. They are not too far from our downtown and are oddly in a fairly residential area. Other than storage, are there any creative uses for these types of structures?

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Jason Richards

1 year

This is one of my favorite creative uses of small, excess space - probably <150 sf total. The building owner cut a window into what was basically a storage area and leased it to a nearby Chick-Fil-A location. It's open M-F from about 11:30-2 and gets replenished hourly from the

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@SimpleCRE

Jason Richards

4 months

@dieworkwear Impeccable suit AND a bow tie. I like that guy.

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@SimpleCRE

Jason Richards

1 year

When people visit our downtown, one of the first things they comment on is our tree canopied Main Street, and they always say they wish their city had the space to do the same. Here’s the thing: they do. Our Main Street was your typical wide thoroughfare (see the before photo)

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Jason Richards

1 year

Every city’s downtown should look like this on a beautiful Saturday morning. Local governments need to invest in creating a sense of place and/or allow private developers to do so. My city has done a phenomenal job of this - especially public/private partnerships. Every downtown

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Jason Richards

1 year

Has anyone ever done deal math on the FRONT of a napkin?

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Jason Richards

9 months

@shawngorham The I-85 corridor - basically Richmond to Raleigh/Durham to Charlotte to Greenville to Atlanta. Moderate climate, no hurricanes, growing population, tech, finance, manufacturing. Close to the coast and the mountains. Pricing still reasonable.

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Jason Richards

1 year

@mnolangray Cinnabon >>> Louis Vuitton boutique

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Jason Richards

1 year

Planning some upcoming family travel. I know I am in the minority, but I still think that nice hotels are 100X better than Airbnbs.

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Jason Richards

3 years

There are so many who say that college (especially liberal arts) is a waste of money. But I can’t think of a more critical time than now to have an understanding of politics, history, economics and science. Education is always good and useful.

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@SimpleCRE

Jason Richards

3 years

I've gotten a lot of DMs lately from people who are looking to start investing in real estate as an LP (which is a huge compliment). But if you're just getting started and looking to invest $25k, I don't think Twitter is the best path. Here's what I'd recommend. 🧵👇

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@SimpleCRE

Jason Richards

1 year

Most business books are unreadable or full of bad info. This is neither. After seeing this mentioned so often, I got a copy, and as one who has been in real estate for a long time, I wish I'd had this 20 years ago. A must read if you're interested in real estate investing.

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@SimpleCRE

Jason Richards

8 months

I'm not the only one who is bullish on the I-85 corridor from Raleigh to Atlanta. Here's an almost 1.2 million square foot SPEC building that just hit the market for lease between Charlotte and Greenville. Love to see growing inventory.

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@SimpleCRE

Jason Richards

1 year

Just got a sale flyer for this three unit building. Trying to get creative - what business goes into that 272 sf end unit with the window AC?

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Jason Richards

2 months

A high net worth means nothing with no liquidity or cash flow. I know plenty of real estate folks “worth” >$10 million who often struggle to pull together a few thousand bucks at any given time.

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Jason Richards

3 years

Secondary market city life is the best life. Nice little stroll less than a mile from my house.

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Jason Richards

3 years

I started investing in real estate almost 20 years ago. Some properties that I thought were "too expensive" then are worth 3-4X (or more) now. Real estate is a long term strategy, and you must have that mindset from the start.

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Jason Richards

6 months

A lot of people on here act like a W-2 job with a six figure salary and benefits is the worst thing in the world. Newsflash: It's not.

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Jason Richards

1 year

Just left Portland after my first visit, and I have to say I don’t understand at all the frequent negative narrative around it. My family explored extensively and experienced a beautiful, walkable city with friendly people, culture and amazing food. I can’t wait to return.

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Jason Richards

3 months

@ClarenceWongCRE Exactly. Trees are ideal, but artificial shade is better than none. I’ve been surprised the city hasn’t put any in the other plaza, but they may just not have the money.

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Jason Richards

1 year

I can't imagine another business where being smart is more of a liability than in real estate.

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Jason Richards

1 year

I don't care what business you're in - if you return all your phone calls and emails within 24 hours, you're ahead of 95% of your competition.

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Jason Richards

6 months

Is there anyone else who visits the county website's GIS tax map to look up one thing and then spends an hour clicking on random parcels? Just me?

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Jason Richards

6 months

@CaseyMericle This is a coastal vacation area. That’s not a good representative of the real estate ecosystem as a whole. Insurance alone is destroying those markets.

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Jason Richards

5 months

@dieworkwear I don’t understand the anti-bowtie sentiment that so many are spouting on here these days. Bow ties are phenomenal.

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Jason Richards

5 months

@Hudson830 I won't hate on my southeastern neighbors, but I just laughed out loud when I read that. Well played.

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Jason Richards

1 year

If you’re a competitive person whose self-worth is tied to your material wealth relative to those around you, it’s best not to visit a tax haven.

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Jason Richards

25 days

"Call for pricing." No.

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Jason Richards

1 year

I talked with a potential seller who had purchased a building for a project that fell apart. Owes the lender and investors. Told him the market price (which is down obviously). "I can't sell for that price - I will lose all my equity." Your equity is already gone, my friend.

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Jason Richards

2 years

If real estate agents/CRE brokers weren't worth the money, they wouldn't exist. There are plenty of flat rate offerings and places to post online for free, but people continue to pay full fees to brokers and agents because they deliver value. Find good ones and use them.

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Jason Richards

1 month

@realEstateTrent I don't think it's intentional generally. Texting has become so commonplace that my phone is overrun with them. If I can't respond right at the moment I receive it, there's a reasonable chance it gets forgotten. Apple needs to evolve the texting app for better organization IMO.

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Jason Richards

2 years

Our firm's fund is in process of developing a spec 535k sf industrial building and just leased the whole thing. It's always nice when a plan comes together!

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Jason Richards

2 years

To all the sellers who somehow didn't get the memo and are still listing at crazy prices: You missed the top. Some of these OMs are laugh out loud comical.

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Jason Richards

1 year

Anyone want to buy an airport in South Carolina for $1.5 million? Listed by a competitor but sharing anyway because I think it's interesting. I love unique property types.

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Jason Richards

2 years

One of my retired partners always said that the secret of the commercial real estate business was "knowing what to do when there isn't anything to do." I think that's pretty relevant right about now.

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Jason Richards

9 months

Our city council just voted to buy a 2.1 acre lot to prevent a developer from building 6 new homes in order to "slow gentrification" of a neighborhood. I know it's complicated, but won't restricting new supply ultimately cause the opposite result?

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Jason Richards

10 months

I did an LP investment in a small real estate fund seven years ago. Got the final distribution last week as it closed out. IRR over that period? 31% Once you find a great GP, never let go.

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Jason Richards

3 years

Two pictures from the same vantage point in downtown @CityGreenville separated by several decades. This is what is possible when you have a city that engages stakeholders and embraces public-private partnerships. I’m so fortunate to live and work in this community.

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Jason Richards

3 years

Many real estate investors think self-management is the best path because hiring a property manager eats into the margin. I consider the money I would lose by spending my time dealing with issues that I can pay someone else to handle. Always consider the value of your time.

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Jason Richards

2 years

One of the people I follow said he was looking at GIS at a traffic light. I suggested he check out the Landglide App (life-changing if you don't have it). Even though he's in real estate full time, he had never heard of it. It made me think: What real estate apps am I missing?

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Jason Richards

2 years

Figure out the range in your real estate market that is too large for most individual investors and too small for institutional investors. Focus on that, whether on your own or with a few investors, and you can make a killing.

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Jason Richards

8 months

Another benefit of secondary market life: Left my house, drove 14 miles to the airport, parked in the garage, walked to and through the terminal, made it through security and am sitting at my gate. Total time since I walked out my front door? 35 minutes.

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Jason Richards

2 years

@GuyDealership Looking forward to getting a good deal in the next 12-18 months on a nice practically-new car and likely a practically-new watch as well. Lots of luxury goods (and real estate) will hit the market.

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Jason Richards

9 months

Tried a slightly different route for my downtown Saturday walk and stumbled across this gem in a side alley. I love it when people take the time to do something fun and colorful even knowing that not many people will see it.

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Jason Richards

9 months

I recently asked someone who is a business associate and casual friend for a business related favor - not a big one, at that. He looked at me and said, "What's in it for me?" I thought he was joking, but he was dead serious. I didn't have a direct answer ready, so he declined my

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@SimpleCRE

Jason Richards

3 years

“I will read contracts before they are fully executed.” 100X. He won’t make that mistake again! Sometimes, the old ways are the best ways.

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Jason Richards

2 years

Wrapping up a much-needed weekend getaway. I know I am in the minority, but I still think that nice hotels are 100X better than Airbnbs.

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Jason Richards

10 months

If you're in a real estate related discussion and someone pulls one of these out of their pocket to run numbers, you can pretty much be assured that they are legit.

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Jason Richards

2 years

I've had two listing brokers say some version of "Bring any offer - you won't insult me or the seller" this week. Lots of good buys on the horizon.

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Jason Richards

2 years

It's pretty impressive when someone owns $50 million worth of commercial real estate. Until you realize that it WAS worth $75 million and they owe $55 million on it.

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Jason Richards

1 year

I don't know who needs to hear this, but if you can't find a good deal, it's ok not to buy anything.

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Jason Richards

2 years

@sweatystartup Two words: mass transit There are many reasons that the NYC model works (to the extent that it does), but none of it would be possible without transit.

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Jason Richards

1 year

@iononrecourse This is equal parts inspiring and depressing.

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Jason Richards

11 months

@rohindhar Laughing at the 1031 suggestion. Better to pay taxes than to invest in this one.

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Jason Richards

3 years

There's a buyer in my market whom 15 years ago I would have described as reckless - going with his gut and buying properties that others couldn't quite underwrite to their satisfaction. He's now one of the largest, most successful investors in the region. There's a lesson there.

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Jason Richards

1 year

No room for a patio or any outdoor seating? I love when buildings connect indoors and out.

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@SimpleCRE

Jason Richards

3 months

@moseskagan At some level, I feel like every condo HOA is a ticking time bomb. Whether one year or 25 years down the line, at some point the needed maintenance will exceed reserves, and there will be a huge internal struggle. It's just a matter of "when" rather than "if."

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Jason Richards

2 years

Our fund just closed on 331k sf of 1966 vintage office space just a few blocks from our own building. It's a beauty - retro in the best possible way with great possibilities! Needless to say, we're pretty bullish on the office asset class.

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Jason Richards

2 years

Was talking with a newish real estate investor, and he said in light of economic instability, "I like RE because I know it won't go to zero." Well, no, the property likely won't, but your equity might. So many people invest without understanding even the most basic concepts.

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Jason Richards

5 months

@the_transit_guy Given that probably 80% or more of arrivals are literally going to the same street, this makes sense here more than just about anywhere else in the world.

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Jason Richards

3 years

If you have cash on hand and can close in <30 days, this is the best time of year to be a real estate investor. Tax implications are a great motivator for potential sellers, and as a result, some of the biggest investors I know make their best acquisitions every December.

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Jason Richards

3 years

A seller who says "no" today may say "yes" next quarter, next year or even in five years. Unless they explicitly tell you to leave them alone, never stop checking in regularly. Real estate is a long game where patient and persistent people win big.

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Jason Richards

3 years

$1,084,632,508 - that was our company's transaction volume for 2021. Don't sleep on real estate in secondary and tertiary markets - big things are happening!

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Jason Richards

8 months

Coffee in the morning/burgers and beer in the afternoon served on trail front picnic tables is a pretty solid business model.

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Jason Richards

3 years

Just returned from Italy where one stop was Venice. This was my first time there in two decades, so the first visit looking at it through a real estate lens. The density and complete lack of cars makes for a wonderful time. Is there ANYWHERE in the US that is remotely similar?

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Jason Richards

2 years

Our fund and its partners just broke ground on a 1.2 million sf spec building in Spartanburg County, SC. Don't sleep on the Carolinas - the I-85 corridor is booming!

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Jason Richards

1 year

This property came across in my email this week. 900 sf office built in 1935 on the edge of downtown Liberty, SC - a quaint spot between Greenville and Clemson. Renovated interior. I love the look of this building. What kind of business should go here?

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Jason Richards

11 months

Not everyone on here cares about golf (and many belittle it), but I am really darned proud of this tee shot uphill over the water. And yes, I made the putt.

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Jason Richards

8 months

I see so many young people trying to be creative in order to get an edge in business. Don't overthink it: 1) Respond within 24 hours to emails and voicemails 2) Be on time for any scheduled meetings, calls, etc. 3) Don't be a jerk You'll be ahead of 95% of your competition.

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Jason Richards

22 days

@TeamHerrold I saw a guy walking through the airport in a full red adidas track suit and a pair of Stan Smiths while carrying a full size Louis Vuitton duffel bag. I’m not sure one gets more respectable than that.

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Jason Richards

5 months

@moseskagan I saw it at a bank board presentation (those six states are their footprint). I looked it up. Here are the 2023 stats: FL - $1.58T GA - $805B NC - $766B VA - $707B SC - $322B AL - $300B So $4.5T total. Puts it behind US/China and just ahead of Germany.

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Jason Richards

3 years

Twitter is one of the greatest resources for those interested in real estate, finance and SMB, but it can also foster a great sense of FOMO. Just remember that you can't (and shouldn't) invest in everything. Educate yourself, find your path, and focus on what's right for you.

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Jason Richards

3 years

@CavemanREGuy I can't imagine another business where being smart is more of a liability than in real estate.

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Jason Richards

4 months

If your downtown is empty and your city isn’t creating a robust programming schedule, they aren’t serious about fixing it. Farmer’s markets, art fairs, concerts, etc. occur weekly here. Give people a reason to come downtown and they will. And redevelopment follows.

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