CO-OH. Building a small empire of industrial & storage assets. Focus on niches within the niche. Currently Ground Up: storage condos - contractor garages & IOS
Thanksgiving seems like a great day to come out of the anonymous closet here on X.
I can say that this platform and our awesome
#CRE
community has changed my life over the past few years. I have met dozens of you in person, made friends, partners, & golf buddies here among other
@Storage_Venture
Rent your current house (keep that rate) and buy the new one.
Happy wife, happy life.
Can’t take the money with you when you die and your kids will lose it all if you give it to them (statistically).
Life is short, make it happen!
Hunting in the mountains will change your life.
It’ll change the way your brain and body view pain and suffering (if you’re doing it the right way).
It’ll humble you and make you realize how small you are and how big this world is.
It’ll teach you what you thought your
Are there any topsoil or dirt experts out there who can help?
I have a metric f*ck ton of super high quality topsoil that hasn’t been disturbed since the glaciers receded into Lake Erie.
I have a buyer for ALL of it.
But I want to monetize it to 10x their offer.
Am I crazy?
@gas_biz
Had someone tell me last week (with a straight face) that her “investment strategy” is to spend less on tickets than she makes from her winnings.
She truly thought it was a strategy. Sad.
Video Construction Update (from yesterday).
Electricians ghosted us mid week. Crickets. TBD on them.
Otherwise all is well, just a week or so behind.
Full Send between now and the end of the year to get this wrapped up!
Twitter is wild! Make a post about topsoil & a few hours later, you’re talking to the owner of . Shout out to Cliff for the call and advice!
Super cool platform/biz model.
People who refuse to talk on the phone and only work through email are such a pain in the ass. Sure unproductive and inefficient. Mostly boomers too…
-Pick up the phone.
-Have that hard conversation.
-Move on to the next thing.
Less typey, more talkey!
With all of the doom loop posts and negativity I’ve seen on X the last few days, I figured it’s time for some positivity via a Construction Update:
-20 Storage Condo units going up (22,560 sq ft). 18 of them are pre-sold.
Hoping for good weather over the next few weeks. Albeit
@adamguild
This is a terrible take and an even worse tweet-brag. Shows a total lack of respect for others.
Checked out your startup and honestly, your model is mediocre. Curious to know how you’re treated when your Venture fails and you’re job hunting in a year w/out a high school diploma
@JohnJBlatchford
Just drove past that today coming from Louisville and commented on how beautiful the skyline looks coming down that hill into the city. Cincy is a sleeper…lots of opportunity! 🍻
Between yesterday morning and now, I’ve reached out to 11 brokers about listed properties.
-Only one answered: great convo for 30 mins.
-Zero call backs from the other 10.
Astounding really.
Concrete was 5 days behind but we’re done with one pad. The other will be finished next week.
As of today, this phase is officially sold out! 🍻
Tag your favorite Brokers in Ohio:
-$5k commission per unit sold
-3 of 12 units in next phase pre-sold.
Construction Update Video:
Had a little fun with this one to address the naysayers out there.
Winners celebrate successes of others.
Losers try to tear others down out of jealousy and spite.
Don’t be a loser.
Happy New Year Winners! 🍻🍻
Sharing a big win -
Today, my partner and I closed on 50 acres of industrial.
Phase 1: Storage/Commercial Condos.
Been sorta quiet here for the last 3 months.
Looking forward to sharing our progress on this project with you all in the coming months/years!
Thought I’d do my first video project update.
With a face reveal at the end…
I’ll come out of the anonymous closet sooner than later.
Having a ton of fun on this project! 🍻
@derekvickers885
Ask him if he wants to partner with you. Buy in. Tell him you want him to be your mentor: Ask him to teach you what he knows and you start to learn operations, while he still retains 51% ownership…
@thesamparr
I was wiping the counters down pondering hard earlier and my wife asked me, “what are you thinking about?”
I was like, “obviously, the Roman Empire…duh”
But no more than 50 Seals, with drones. No doubt.
After 6 months of negotiations & diligence:
On Tuesday, my partners (one who I met on Twitter) and I inked a deal with an 87 yr old seller who’ll be our mentor for the next phase of his/our Storage Condo development project. 13 acres left to finish what he started.
Aug. 30th
@realEstateTrent
@JohnMcDonaldSB
I’ve seen and met multiple people in real life whom twitter literally changed their life. Ignore this narrative 100%. I’ve made some amazing connections here. It is what you make of it…or you can just bloviate too and be content with that.
Project update: getting floors of 2nd building prepped for etching & epoxy!
Video shows a 6 unit space being built for one client.
Other photo shows single unit (22’ x 60’) w/out a bathroom. Need Heater hung and will be completed.
Metal interior is 🔥🔥
Prepping for winter and chopping wood this weekend and I realized:
The Real Estate game is a lot like chopping wood.
You start with just an axe.
You work your ass off just so you can stack it up in a pile…because you know you’re gonna need it someday.
You burn a little off
I’m truly shocked that so many smart people (including “experienced” GP’s) are speaking w/such certainty that rates “will” keep falling.
Hearing so much widespread bullishness should cause alarm and send 🚩🚩flying.
Rates aren’t falling because the future is bright and
Looking for takers on $1.3M of hard money, secured by industrial property:
Ideally:
-18-24 month balloon
-I/O for 12 months
Know anyone? Feel free to DM if you can help.
@BrockHBriggs
Instant follow for this take. Agree on the feeder 100%.
Harvesting a few whitetails via ambush style w/a bow for meat isn’t wrong, it’s just not “hunting” imo.
Feeder = not hunting.
Food plots = respectable.
@awilkinson
StripMallGuy took the words right out of my mouth and at the same time…in real time! 😂
Phone calls are a necessity unless you want to be purely transactional, which won’t last long.
Trick is to get right to the point (no small talk) and limit each call to <10 mins.
Start the
In the real estate world, there's a direct relationship between how many people you talk to on the phone each day and how successful you are.
Didn't say email, didn't say text - it's a relationship business.
The best sales people I’ve ever met (some of them) come from backgrounds of great struggle. They’ve had to deal with extreme grief or trauma.
They’ve already had the hardest conversations of their life. This little “sale” is nothing to them.
Don’t underestimate the unbreakable
A few thoughts about a major shift in thinking I had a few years ago that keeps getting stronger:
I used to look at properties & wonder if I was crazy for thinking I could do that. I have had a lot of big ideas.
Ground up development on 2.7 acres? *gasp* sounds crazy. (I said
It’s a good feeling when things finally start to come together…
Concrete under roof is all in. Drive Isles will be poured next week.
Walls, Electric, & Heaters will follow close behind. Still on schedule for Turkey Day (ish) delivery.
Contractors: What motivates you to ask for 50% down before you even lift a finger on the job-site?
To me, it’s a massive 🚩⛳️ for many reasons.
I’ve been on the other side as a contractor (owned a window washing biz) and would never have done this.
Help me understand why?
Things are coming along nicely in Sandusky. Watching the mini-excavator trenching these lines made me secretly want one. Dirt guys: what’s your favorite Mini??
Sewer & water lines are laid & ready for inspection Monday. On schedule for mid-November delivery.
When used properly (without the incessant, ego-driven, self serving part), twitter can be a very powerful networking tool. There is a ton of value that exists here if you’re a genuine, creative, and ambitious human. It doesn’t work without an abundance mindset. Cheers!
A few lessons learned as a rookie to ground up development - Vol 1
-Good contractors are hard to find. Reward them quickly and keep them busy.
-Bad contractors are a dime a dozen. Sniff them out quickly and move on.
-A mentor is worth $1M (literally).
-Concrete can make or
Grown Ass Men: PSA
When something doesn’t go perfectly in life or at work…
Don’t bitch and moan and whine and piss around like a child. It’s a bad look and shows how weak you are.
Find a way to fix it, or accept it and move on.
Resiliency is becoming a lost art.
@Scouting4Land
If they don’t have the cash to buy the property, they’re not gonna have cash for a lawyer. A letter or two from your legal team should do the trick…
@tripleoss
Assuming it’s from a capital gain, Call a tax strategist and deploy some $$ into an opportunity zone fund…get those tax $$ back and go look for projects. Give your grandkid’s grandkids money and give some to charity. But for real, find out why you’re paying 50% in taxes 1st??
Shingles are finished & everything is under roof.
Water & Sewer lines are inspected & backfilled.
Kick boards going in to prep for concrete to be poured on Monday.
Our guys have been kicking ass out here this week!
Overheard in the wild last week from a GP who manages a fund.
“We will just refinance when rates come back down over the next 12-24 months”.
Dumb & reckless logic w/anyone’s capital.
If everyone “knows” CAP rate compression is coming, wouldn’t everyone be buying right now? 🤦♂️
@ChrisRamsey60
We’re buying an existing development of storage condos to finish the build out on (Room for 200 more). It’s amazing what some of these guys do with their spaces: car collectors, model airplane guys, boat rebuilders. A lot of hobbyists
I traded futures actively for 8 years and became a total economics nerd: 🤓
There were boom years and there were break-even or bust years.
Ultimately, it was a zero sum game for me. It also is for 90% of market participants but they won’t all admit that they lose money every
@sweatystartup
This is the secret to life honestly. Mostly just be in a good mood and exude positivity. It can’t be fake though…you can’t fake this vibe.
Project Update:
We’re wrapping up finishing touches on this Phase of 20 Storage Condos (23,760 sf).
Final inspections scheduled for tomorrow.
About a month late but still under budget.
Trusses go up on the next phase of 12 units tomorrow. 💪
Super happy with the end product!
@privateinequity
@girdley
Who gives a 💩 ? We’re all here selling something in one way or another. He’s experienced in buying busineses so why not try to monetize it. Is your time free?
It’s a bad look for you to be calling him out to be honest
Storage Condo Buyer: “I have a special request for my bathroom”
Me: “Sure, you’re buying 6 units…anything for you Sir”
Buyer: “My assistant will send you a link to this special toilet seat. Can you install it for me?”
I can proudly claim that I’ll install the first ever Bidet
@Bethazor1
Well said Beth!
In my W-2, I’m a Regional Sales Manager and I learned to never “follow up”. If you’re just following up and “checking in”, you’ve already lost control of the sales process and you’re losing. Always add value, deliver an important message, or just stay silent
One cool thing about living in Ohio this time of year…back yard maple syrup.
The sap is runnin’!
This is a labor of love though. Lots of work but well worth it.
@mu2myoc
This is so true. No hard assets allowed but you can gamble on these options on 3x levered ETF’s until your net worth is way in the red!
But wait, there’s more: you can do it all on margin and don’t even need lots of cash!!
Calling on Midwest/Regional Industrial
Brokers & Tenant Reps:
-Share any needs/wants that your clients may have in the SW Cleveland MSA.
Closing on 50 acres of Light Industrial in 1-2 months: Will build to suit.
Looking to skip the line and have these convos now!
@KevinMoss216
Maybe they drive a lot and can’t text/email and drive safely? (guilty) 😅
People that only email are also weirdos.
Communicating via voice is so much more effective than email and leaves less room for interpretation/miscommunication.
@Levijameshere
I admittedly know better from being told this by more than one person. Still giving it a go. The land was so cheap and plan is simple. If I fail, I will fail forward & it wont put me under.
Every “developer” did their first property at some point. Will report back in 6 mo 🍻
@adamguild
Hey Adam - why delete the tweet? If you’re gonna say it, own it. I hope you’ll call that guy back, apologize by telling him you were having a bad day and ask him to come in and try the interview again. True leaders and CEO’s admit when they’re wrong and then make things right.
Serious Questions:
What happens when a cemetery runs out of space?
Do they put up a “No Vacancy” sign or ?
Is it just a “dead” piece of ground at that point in terms of profitability? 🥁
How do they pay for maintenance and upkeep, mowing, etc?
No, I don’t want to get into
In sales, if you’re manifesting your insecurity by over-talking and referencing things that show how much “experience” you have vs addressing the customer goals & the product/solution….
The pros in the room see you. Learn to read a room.
@LandlordRev
Nothing wrong with this at all imo.
Maybe he was starting out 2-3 seasons ago and was hungry for customers. Low prices are a great way to get folks on the hook at first. Maybe his time is worth more now.
Most services like this won’t even leave the house for less than $50/job.
Played golf with someone I met on twitter this week. Wild world we live in. Can’t believe this place is free, or only $8/mo.
Lots of real players in the game here. Highly underrated.
Good morning to everyone except the brokers who list shitty, tertiary self storage properties with a hypothetical “current” NOI on a hypothetical possible conversion and then price it to a hypothetical 5 CAP…with a sloppy pro-forma laden with errors. ☕️😬
“Dress the part”
I’ve learned a lot about attire and presentation through my career in sales.
Be a chameleon.
Don’t show up to meet an 87 year old seller of a dirty industrial building in a bible salesman outfit or nice shoes.
Brokers: you too! If these types of sellers feel
@JohnPetersonFW
@sweatystartup
This is absolutely untrue and obviously comes from someone who’s never spent more than one day at 12,000 ft in snow, wind, and rain.
@KUIU
for apparel and
@kifaru_intl
for packs and shelters. Top of the line and Murican made.
@JeffFeldman_
Happy I came out of the closet yesterday…seems like this will be a trend. It’s unfortunate for guys who truly add value because of their expertise, but who also have a lot to lose by exposing truths of an industry, etc.
Dan just ruined it for everyone though. One Bad Apple…
Branding:
Given our plans for growth & a steep ramp in 2024 (with a massive acquisition in motion), we need consistency w/branding.
Snowball Capital will now become Storage Stache across socials, etc.
Also, doing our first trade show this weekend at Cleveland Boat Show. LFG
🍻
When someone starts our interaction by telling me how many years of experience they have in “this business/industry” (Not RE), my first thought is that they likely have “x” years of bad experience.
Still doing things the same ole way as 20 years ago is a 🚩🚩…
@constantraise
I’m not a broker or an agent but this is a great breakdown and probably a legit opportunity for some folks (who have what it takes to build this sort of product). Well done…
@realEstateTrent
Anytime anyone complains about my kids on a commercial flight, I just tell them they should fly private if they don’t like it.
There’s not much difference between a greyhound bus and an airplane other than road vs air.
@Molson_Hart
Have you ever been to 12k feet Molson? You’re not wrong by being concerned about obese folks in general but even those in the best shape at sea level can have their asses kicked above 9-10k ft.
(I lived & played well above 8k ft for 15 years, have seen it all)
@roblabonne
Yeah, probably the safe play Rob…I do have a guy who we could partner with who has everything we need except for the screener.
Will report back as this evolves! 🍻
@maxfisherRE
Pricing now vs what it was a year ago on pre-fab steel warehouse buildings is technically down, at least from the pricing I got initially to what I got a few days go. Overall contractors seem more eager to compete on price now vs a year ago
Good morning from Phoenix!
Those mountains were a welcome sight with the sunrise, but all I could stare at was this gorgeous small bay & SS facility across the highway. 😍
Which one of you owns it?
Whatever it is that you woke up to go out and do today, go do it well.
What does that mean?
It means to do exactly what you said you were going to do. If you do that AND you do it well, you’ll be in the top 1%.
It really is that simple.
LFG!!