Just reviewed a LP capital call -
GP is looking for their LP's to come up with capital to repay the *entire loan* and lend to the property at 5%.
If an LP fails - they are charging default interest against their share
Help me find a tenant - 65,000 SF industrial building in Little Rock, AR - with 2 acres of parking, 10 docks, 18'+ clear. Can be demised into two suites and I can offer rent far below market and delivered repainted w/ brand new LEDs
In the wake of the Walgreens downgrade and risk of STNL deals - I want to introduce you to my favorite investment type. Below market STNL with long term leases - in these deals the downside, often is the upside.
When done well, many of these deals have a downside IRR of 20%+,
Help me find a tenant - 65,000 SF industrial building in Little Rock, AR - with 2 acres of parking, 10 docks, 18'+ clear. Can be demised into two suites and I can offer rent far below market and delivered repainted w/ brand new LEDs
Excited to host tomorrow night’s NYC meetup with Clean & Jeff. Only have two or three more spots open - but we’ve got some good guests from top tier shops including:
JPM
Midtown Equities
KABR
Octillo
DB
Invesco
CBRE
HKS
48 hours ago,
@GrulkeLamonte
and I were strangers. 48 hours later, we’ve gone for tacos, I’ve met his father in law, transacted with him & I’m extremely tempted to fly him into NYC to gut reno my bathroom
This platform has serious power
At the 1 yard line on a lease with a tenant that I’m excited about, they ask for one final comment - a 60 day notice termination option Any tips
@Bethazor1
@creromans
Deal update - we gave the building a paint and power wash - upgraded all lights to LED’s and replaced the dock bumpers & signed a lease!
Who wants to come for the journey for the other two buildings?
Help me find a tenant - 65,000 SF industrial building in Little Rock, AR - with 2 acres of parking, 10 docks, 18'+ clear. Can be demised into two suites and I can offer rent far below market and delivered repainted w/ brand new LEDs
My list is going to be even smaller - and less exclusive - 2/8 if you’re interested in hanging out w/
@CREdeallawyer
&
@JeremyGlantz
more to be announced soon
Hope everyone had a nice New Years, and looking forward to many new conversations on here, and new real life relationships in 2024 🙌
Wanted to share some thoughts on the gala 🙏
I'll start by saying how thankful I am for the thousands of requests, many of which have come from
I recently closed on the acquisition of a 70,000 sf center, 3 buildings, 1 retail, 2 flex industrial, 20 tenants. I’ve learned a lot following
#retwit
over the past 18 months, planning on documenting the journey here 1/4
🚩🚩🚩 I see in LP decks
1. Being a member of Forbes Real Estate Council (it is 100% pay to play)
2. Using a Click Funnel
If a GP has both - they most likely have less than 3 years real estate experience & are advertising some combined [ridiculous] year count 🚩
@therepeguy
Real Estate 201
Stabilized Yield on Cost > Market Cap Rates = Make money
Stabilized Yield on Cost < Market Cap Rates = Lose money
Stabilized Yield on Cost = Market Cap Rates = Waste of time (unless your are a capital allocated making AM fees)
🚨🚨🚨 - join some of your favorite institutional and entrepreneurial retwit friends for drinks & bites in NYC next Wednesday
Including
@CleanTo2ndLien
@JeffFeldman_
@aussieflya
and more
Today, I got the worst pitch I’ve heard in at least a year
- 70s built multifamily
- tertiary market
- “basis play”
- “just increase rents 20%”
- seller financing available
- 800 units
- 3.43 cap on in place
- several shootings
Alright alright alright 🤙
Thought of a fun idea - I have a small deal in need of a refinance - would love to retwit an inside look on the refinance - deal profile, lender list, Q&A, and quote matrix live over the next few weeks of the process. Y'all interested? & mortgage brokers - if there is a lender
I'll be honest never thought I'd get to 999 followers but have had a lot of fun meeting all sorts of cool people here - who's going to push me over the line?
I’m getting a little jealous of my friend PI - if this gets 100 likes I’ll share my townhome (up to 10 unit) development model. 100 retweets and you get my industrial STNL model
LBO MODEL!!!
GUYS! WE GOT 285 REQUESTS! WE BROKE FKN TWITTER
OUR SMM CAN'T SEND LINKS ANYMORE! WE'RE LOCKED
HERE IS THE MODEL
pw: jtg
thanks for supporting! keep reposting to support our mission
WILL BE OPEN FOR 6 HOURS!!!
Seeing all of these super positive posts about
@ReconveneLA
&
@SideHustle_LP
has urged me to come. Is there a kosher track for the meals, which sounds like where all the magic happens?
@TripleNetInvest
I worked like a dog for a few year (80+ hours a week) for a top broker, under-paid like crazy, treated like a mutt, but made great connections and copied the strategy of one of our smartest clients in a flyover state vs. Tristate area
Was a great time! Thanks for everyone that came out. Learned some good tricks of the trade from
@MarcSGilbert
& loved hearing about
@jonwei8
’s new business
We’ve got a seat saved for
@JeffFeldman_
for V2 in early Feb
Great turnout on short notice for
@bridgelenderguy
's get-together. This is most of the 12 who showed. Gotta get
@ShlomoChopp
next time, and I know that
@aussieflya
has aching FOMO looking at this!
@chernobelskiy
The mortgages are almost always pooled in RMBS trusts, if it was owned by your local very strong arguement that they’d give you a discount.
The Deal
50,000 square foot warehouse, purchased vacant in August, with expensive, low-leverage debt. We thought we had a GSA in tow (live model below).
But the lease contract stood on their desk for more than 4 months waiting to be signed.
Finally, while I was going through a
Thought of a fun idea - I have a small deal in need of a refinance - would love to retwit an inside look on the refinance - deal profile, lender list, Q&A, and quote matrix live over the next few weeks of the process. Y'all interested? & mortgage brokers - if there is a lender
@chernobelskiy
I like buying functional but ugly warehouses at a significant discount to replacement cost, cleaning them up and renting them out at high rental rates
The number one thing to understand - if you want to understand the US multifamily market is how much the US gov’t subsidizes it - with subsidies eventually comes regulation or end of subsidies
It's kind of strange that GP's provide less information to their LP's than they do to their Lender
- I think a PFS & Liquidity statement are fair game for an LP to see from the person backstopping a deal - along with making reps about their personal history
@realEstateTrent
Guy I know owns 20+ mixed use buildings in Brooklyn (including the one his pizza shop is on the ground floor is on) still cleans the tables and runs the cash register
I’ve read nearly 100 books this past month here are my top recommendations:
- The Book with No Pictures 🌆
- The Very Hungry Caterpillar 🐛
- Dear Zoo 🐒🦍🐼
- Never Touch a Dinosaur 🦕
- Real Estate 🏡 With My Daddy
Date & Venue confirmed for the next one (2/8). Will try to keep it small and intimate like last time & leading off with 20 min fireside chat from a serious CEO
Saving you a seat
@JeffFeldman_
@aussieflya
and
@bobbyfijan
Great turnout on short notice for
@bridgelenderguy
's get-together. This is most of the 12 who showed. Gotta get
@ShlomoChopp
next time, and I know that
@aussieflya
has aching FOMO looking at this!