Shiloe Bear @shiloebear Twitter profile

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Shiloe Bear

2 years

Land entitlement work is the closest path I’ve found to creating money from thin air in real estate. These projects are available at any scale and don’t require a ton of capital, but do require patience.

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Shiloe Bear

@shiloebear

1 year

What to do with a little house on a large lot? Move the house further to the back, build 6 row houses in front. This was fun to entitle using a little-known loophole called “mini-lot development” that allows each unit to be classified as a SFH.

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Shiloe Bear

@shiloebear

1 year

Floorplates too large to get light into the core on a multifamily conversion? Cut interior courtyards

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Shiloe Bear

@shiloebear

1 year

Sent a potential LP a deck for deal I was working on and he put the building in contract #Feelsbadman

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Shiloe Bear

@shiloebear

1 year

Only warm white LEDs ok? Unless you’re building hospitals, over 3500K is unnecessary violence

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Shiloe Bear

@shiloebear

11 months

Contrarian take: With a deep understanding of construction, ground up development is less risky than a rehab. Rehabbing, especially historic buildings has near infinite scope creep

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Shiloe Bear

@shiloebear

1 year

Can someone pls break down mezz debt vs pref? Is mezz just a bank loan and pref individual investors?

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Shiloe Bear

@shiloebear

2 years

@antonia_mdprjct Finished a battery lab build where I also did tile design. Inspired by beadwork patterns. Makes me happy

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Shiloe Bear

@shiloebear

10 months

People always ask how to build their project for less Instinct is to squeeze the subs or select cheaper materials I’m here to tell you the only real way to move the needle is to reduce the scope. Draw a big X on the plan and write ‘no work in this area’.

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Shiloe Bear

@shiloebear

1 year

Was crossing the street for coffee and flagged down a scrap metal truck hauling these steel windows to the recycler Diverted him to my jobsite - $50 each and free delivery I am my father's daughter⚡️⚡️

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Shiloe Bear

@shiloebear

1 year

Tile patterns are the fun part of my work. I build the patterns in sketchup to get the color right. This one I installed too (partly because I couldn't get anyone to take it on)

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Shiloe Bear

@shiloebear

1 year

Advantage is SFH codes apply when they work best, MF codes apply when they work best. Maximum flexibility. Appeals to buyers who don’t want an HOA (aka people who breathe air).

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Shiloe Bear

@shiloebear

1 year

Hubs and I were onsite managers for a 26-unit apartment building in the Bay for five years as newlyweds. We paid half of market rent and negotiated an additional $100 rent credit for every lease signed. That move allowed us to save $600/month that became the $36k 10% down

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Shiloe Bear

@shiloebear

2 years

To everyone who locked in 3% 15-year commercial loans in Jan 2021

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Shiloe Bear

@shiloebear

10 months

Many entrepreneurs boast about how they’ve never had a job, or could never work for anyone else. I’ve worked for many people and learned how to lead, how to be a reliable teammate, how to fix the coffee machine when it breaks right before the morning rush. There is no one way

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Shiloe Bear

@shiloebear

1 year

This wood-framed beauty was a manufacturing site for the SF Bay Bridge before sitting vacant for decades Great bones, but who needs this much height? Turns out climbers *love* a 55’ lead wall

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Shiloe Bear

@shiloebear

2 years

. @moseskagan said he wanted to create the kind of event he would have killed to have access to when starting out. He succeeded. He and Simran opened the door to people in this community who are generous, kind, and committed to elevating the rest of us.

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Shiloe Bear

@shiloebear

1 year

We target double-digit UYOC on industrial buildings, 20-50k sf with large lots and dense zoning in the SF Bay Area. Covert to biotech now and entitle for higher use in the next cycle. ✨

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Shiloe Bear

@shiloebear

10 months

We get hired by lenders to audit the finances/liens and construction progress of developments in default Business is up and it's bumming me out

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Shiloe Bear

@shiloebear

2 years

Walked away from a deal I’ve been working on for almost a year. This would have been our first with OPM. Getting to this point is one of the hardest things I’ve done, but walking feels right. Here’s the saga, and how I’m turning these L’s into lessons.

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Shiloe Bear

@shiloebear

1 year

Our second iteration of giant printed zoning maps just landed and I'm so happy with the upgrade. Now with OZ overlay maps in velum. Covering 3 East Bay cities. This is our "triangle"

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Shiloe Bear

@shiloebear

2 years

At it’s simplest, you buy a plot of land, get permits to build on it, and sell to someone who is ready to develop. You’ve absorbed the permitting risk and saved the next person a ton of time, which at the right time in the cycle can be worth $$$.

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Shiloe Bear

@shiloebear

2 years

👋 I’m Shiloe. I run a construction management and design firm, CreekDev, based in the SF Bay Area focused on repositioning industrial assets to lab/R&D/niche manufacturing spaces

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Shiloe Bear

@shiloebear

2 years

@zachklein Our usually quiet creek in Oakland this morning

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Shiloe Bear

@shiloebear

2 years

Hey #retwit friends – I need advice. First deal as GP. $3.3mm/20k SF light industrial in tech hub. LP’s want all-equity structure but the raise has been hard. I’m new, no family money, the world is shaky.

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Shiloe Bear

@shiloebear

10 months

This year @REconveneLA felt different. The overall sentiment was more cautious - there was more talk of risk and distress... But there was also a distinct camaraderie - a feeling of deepening core friendships and having each other's backs

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Shiloe Bear

@shiloebear

11 months

We have a company goal of performing 20% of our work at a 20% discount to local nonprofits. This is the project that started it all RYSE Youth Center - a new 18k sf campus designed by young people, for young people

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Shiloe Bear

@shiloebear

1 year

There are two secrets to our sauce 1 - creating highly-technical spaces without over-building 2 - adding fun design in unexpected places

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Shiloe Bear

@shiloebear

2 years

It’s official people – my ETT talk from @REconveneLA 2022 is up on YouTube. Watch, share, tell your friends, send to your mom. Ya girl is going places✨

Moses Kagan

@moseskagan

2 years

V proud to post @shiloebear 's Emerging Talent Talk from @REconveneLA . Rather than describe it, going to go out on a limb & promise this will be one of the best things you watch this year... just give it 5 minutes & you'll realize what a special person she is. Link below.

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Shiloe Bear

@shiloebear

10 months

I'm pleased to announce that I've been added to a new list! So have @fortworthchris , @kylematthewsceo , @gabebodhi , @joepohlen , and @BobKnakal so it can't be the mild burn it appears to be Cheers to the Second Tier 🥂😂

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Shiloe Bear

@shiloebear

1 year

Labor intensive for sure, but all 207 units get exterior windows

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Shiloe Bear

@shiloebear

1 year

We just got a major lab permit approved in record time in the City of Oakland. Not sure if it’s a sign that I’m nailing how to present the case for R&D space or that the whole town is hammers down.

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Shiloe Bear

@shiloebear

1 year

I’m ready to disrupt the switchgear industry. 4000A are now taking 15 months to get. We’re seeing pad-mounted transformers ship faster. How hard can it be to build a factory? (kidding, sort of)

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Shiloe Bear

@shiloebear

1 year

First Republic won't lend on brick buildings Frustrating as an investor, but that conservative underwriting (at the expense of growth) is looking pretty good this week

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Shiloe Bear

@shiloebear

1 year

@aussieflya House movers are underutilized, imo Standard setbacks for the rear house A little easier to see from this angle

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Shiloe Bear

@shiloebear

2 years

Spent the last weeks calling LPs who had committed to tell them the deal is off. Hope I’m building investor trust even though I’m not building an amazing lab right now. Onward and upward. There will be others.

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Shiloe Bear

@shiloebear

1 year

Retwit is like Thanksgiving dinner. Start talking politics or religion and we may disagree. But we value each other enough to set that aside and focus on what matters most - unlevered yield, low leverage, and tacos

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Shiloe Bear

@shiloebear

2 years

Other paths are - Buy a house/building on a large lot. Split the lot, re-sell the original structure, keep and entitle the vacant lot.

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Shiloe Bear

@shiloebear

2 years

When the Bay Area office market ground to a halt in early 2020, I was sure our workload would take a hit. But as the weeks passed, the phone kept ringing. Public and private funds were pouring into research...

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Shiloe Bear

@shiloebear

2 years

@jdmiser @moseskagan Giant printed zoning maps. We overlay OZ and new state bills in Bluebeam, highlight sections we like with both, then look for scale. Run the APNs through Proprty Radar for signs of distress. Pick up the phone, knock on doors. Will look into Parlay 2.0

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Shiloe Bear

@shiloebear

1 year

@ArtemTepler Very grateful to Carla for saving you from black leather bachelor living 🙏

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Shiloe Bear

@shiloebear

2 years

In the first half of 2022, VC’s invested 52.4 billion in Bay Area based companies, more than double the closest competitor (NYC, 19.8B). The Bay has issues for sure, but the ambition and innovation density here is next level

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Shiloe Bear

@shiloebear

2 years

We work mainly in industrial neighborhoods and on every project, we plant street trees. I love watching them grow through the years to transform buildings and blocks. Can't recommend this practice enough. Do it once and it will change you.

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Shiloe Bear

@shiloebear

2 years

Things to know- 1.Where you are in the cycle matters. Land drops further and faster than all other assets, so pick it up low in the cycle. You’ll need to be prepared to hold it until things are cranking again, may be several years.

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Shiloe Bear

@shiloebear

1 year

subtle selfie

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Shiloe Bear

@shiloebear

2 years

Applying for new EINs and the IRS website is closed. As in, for the night. The little website shop keeper flips around the sign and turns out the lights.

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Shiloe Bear

@shiloebear

1 year

We're hiring a construction manager and a permit tech for commercial projects in the SF Bay Area 🚀 DMs open, or email shiloe @creekdev .com Send a few bullets of what you know how to do and let's talk!

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Shiloe Bear

@shiloebear

1 year

@DallasAptGP @seandsweeney @davegordon14 @Ryan_Tobias_JDP @djh11375 This one had unfairly good bones to start, but I'm proud of how it turned out

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Shiloe Bear

@shiloebear

1 year

@Camp4 When someone shows you who they are...

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Shiloe Bear

@shiloebear

2 years

3. Study your local zoning codes. Look for areas with good height and density to maximize profits.

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Shiloe Bear

@shiloebear

1 year

@ErnieBrownII No fire truck turnaround Sucks the soul out of every human-scale development

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Shiloe Bear

@shiloebear

1 year

@mhprvpmvp If you are serious about your real estate career, there is only one vest. A dark blue Patagonia with your company's logo in white on the right side. Best paired with a lighter blue checked button up, khakis, and all birds

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Shiloe Bear

@shiloebear

2 years

@creromans Real estate is god's gift to C students ✨️

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Shiloe Bear

@shiloebear

1 year

@Rose_ATXRealtor You got it!

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Shiloe Bear

@shiloebear

1 year

payment on the fixer house we still live in today. The crash course in multifamily PM and leasing was an added bonus. Highly recommend for anyone looking to get a toehold in life and real estate

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Shiloe Bear

@shiloebear

2 years

2. Depending on your region, you’ll need to budget for a survey, soils report, architect, structural engineer, MEP, and permit fees.

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Shiloe Bear

@shiloebear

1 year

Ran into the one and only @Cashflow_Cowboy on the last night of @CapitalCamp 🎆

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Shiloe Bear

@shiloebear

1 year

@Farajidc The fine print is my secret weapon. Especially when there is a way around condo regs 💫

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Shiloe Bear

@shiloebear

1 year

@shawngorham My first boss in construction only had one rule Never, ever build a deck over a living space

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Shiloe Bear

@shiloebear

1 year

@EllliotttB So all the people coming back from NMHC this week talking about it raining mezz and pref are referring to capital in general? Sorry, am finance bro in training

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Shiloe Bear

@shiloebear

2 years

@PaulinaJones @fullrecourse Found this beauty under glue down carpet

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Shiloe Bear

@shiloebear

2 years

Cut the concrete, plant, water for 2 years. Low cost/high impact path to: - Reduce urban heat island effect - Soften the landscape - Filter contaminated ground water We've planted 86 trees and changed entire blocks. Trying to hit 100 by year's end 🎉

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Shiloe Bear

@shiloebear

1 year

@chernobelskiy @chrisderose Vest season has passed, but keep the blue oxford, pair with pastel shorts and loafers. If you're working the Sunbelt, you may swap the oxford for a polo. If you're on a coast, try a neutral henley and white sneakers. Spring has come to CRE!

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Shiloe Bear

@shiloebear

2 years

@jdklein33 If you're a small investor, I'd recommend starting smaller. The first parcel I bought was for $11k at tax auction. I could afford to hold it without debt and take my time.

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Shiloe Bear

@shiloebear

2 years

Partner with a seller who can’t sell. Get appraisal at current value, split the difference in sale price from pre-entitled value post-entitlement sale price. Collect upside as if you own the building.

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Shiloe Bear

@shiloebear

2 years

Everyone thinks lab construction is suuuper complicated, but once you get a handle on bioreactors, cell fermentation, and biosafety levels, it’s pretty chill😎 What did I miss?

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Shiloe Bear

@shiloebear

1 year

@shawngorham I think you need to see through to the back windows from the front door. Imperfect, but something like this

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Shiloe Bear

@shiloebear

1 year

@seandsweeney Lesson learned, believe me

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Shiloe Bear

@shiloebear

1 year

@the_cooplife When you find out please lmk

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Shiloe Bear

@shiloebear

2 years

@moseskagan We've been making target parcel lists all week!

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Shiloe Bear

@shiloebear

1 year

@StudentRentPro @moseskagan @REconveneLA This was the first time I told my story publicly and the response was incredible. Many thanks 🙏

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Shiloe Bear

@shiloebear

2 years

@BilsierraBill Just a warning that they eat into future entitlements. If you (or next buyer) wants to build up, you have to buy out the lease and they will fight for equity in your project. They make more money here than the leases.

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Shiloe Bear

@shiloebear

2 years

@xw3121 @jdklein33 Sure, bought a small, 4k SF parcel. Spent $2k clearing up title and did the first round of drawings myself to get zoning approval. Hired arch and eng for building permit sets, 2 years to permit, held for 2 more, sold for $100k, made about $70k after expenses.

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Shiloe Bear

@shiloebear

2 years

@mhprvpmvp @StudentRentPro @reconvene @sweatystartup Being called a CRE Bro warms my heart. Does this mean I have to trade in my Redwings for Allbirds though?

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Shiloe Bear

@shiloebear

1 year

@shawngorham If he's looking for a place to put some of that to work, hmu

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Shiloe Bear

@shiloebear

2 years

If you weren’t sure about making the trek to @REconveneLA , I can assure you that it is 100%, without a doubt, worth your time and energy. You will find the people who will help you find your way, or they will find you, and your life will change.

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Shiloe Bear

@shiloebear

1 year

@Camp4 Thanks KD In development, a mezz is an expensive platform with more steel than seems necessary

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Shiloe Bear

@shiloebear

2 years

I got to hang with @RussellLowery10 irl yesterday. Dude's super sharp at navigating the political waters of development deals. Kicking myself for not getting a hardhat selfie - next time!

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Shiloe Bear

@shiloebear

11 months

@moseskagan They eat into future entitlements. If you (or next buyer) wants to build up, you have to buy out the lease and they will fight for equity in your project. They make more money here than the leases

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Shiloe Bear

@shiloebear

1 year

@marioEbrown Nuance is not the strength of the bird app. Assume you're talking to a real person and show them grace

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Shiloe Bear

@shiloebear

1 year

@moseskagan For sure. It's counterintuitive but on really big sites, adding by subtracting can make a huge difference! We've taken roofs off between structures to make walking paths with trees in place of hallways and they're magical

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Shiloe Bear

@shiloebear

2 years

@mwmoedinger Onerous permitting increases working without permits, which decreases regional construction standards. They can't see the monster they're creating.

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Shiloe Bear

@shiloebear

1 year

@benrgallant @iononrecourse Concrete walls, clear heights

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Shiloe Bear

@shiloebear

1 year

@StudentRentPro My copy hasn't arrived yet, but the Retwit book-of-the-month that I've been told will answer my financing and deal structure questions is Investing in Real Estate Private Equity by Sean Cook

Investing in Real Estate Private Equity: An Insider’s Guide to Real Estate Partnerships, Funds,...

Investing in Real Estate Private Equity is your practical guide to investing in real estate through private offerings with established companies. The passive investment strategies for wealth building...

www.amazon.com

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Shiloe Bear

@shiloebear

1 year

@shawngorham maybe he just hasn't met the right GP 😎

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Shiloe Bear

@shiloebear

2 years

Thanks to everyone who reached out and offered a hand up. I’m grateful we met.

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Shiloe Bear

@shiloebear

2 years

@RaminGREP @realEstateTrent @moseskagan @sweatystartup @Levijameshere @antonia_mdprjct @Keith_Wasserman @bobbyfijan @DallasAptGP @seandsweeney We hire a few trades directly where we have deep relationships and great pricing, but still let the GC incorporate those costs into their percentage fee. The savings are worth it.

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Shiloe Bear

@shiloebear

2 years

In two years, developing R&D space went from something we did a few times a year to more than half our business. Here’s a look behind the curtain if you’re considering jumping in.

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Shiloe Bear

@shiloebear

1 year

@girdley I build pretty biotech lab spaces, am occasionally witty, and have been saving this vintage Chili's pic to troll you

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Shiloe Bear

@shiloebear

1 year

@twbuilds This one is in Oakland near the rose garden

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Shiloe Bear

@shiloebear

2 years

@NNNIncome Call it a 'lease confirmation' and let them know that it's for their benefit that the new owner understand their rights under their lease term. AKA - you're looking out for them

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Shiloe Bear

@shiloebear

1 year

Dry powder in lab speak is fire suppression used when you have too many water-reactive metals in your building As in: There’s a lot of dry powder on the sidelines waiting for a lithium explosion

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Shiloe Bear

@shiloebear

1 year

@realEstateTrent Feels like a group text with smart, kind, patient friends

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Shiloe Bear

@shiloebear

1 year

We found a cartographer to stitch together the 3 data sets and then manually added back in the legends. Worth it to see path-of-progress at a glance and target cold calling to blocks that check all the boxes

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Shiloe Bear

@shiloebear

2 years

I’m super lucky have a solid team of underestimated and unrepentant badasses who are also just great people. I’m here to learn and meet other folks on a similar path. Hit me up if you want to connect IRL or on zoom.

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Shiloe Bear

@shiloebear

2 years

@bobbyfijan Exactly Bobby. Too much risk with debt. You need to have patient capital and a masochistic streak to sit through city council meetings

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Shiloe Bear

@shiloebear

2 years

Early tech investors dropped as the stock market and bitcoin fell. Old salty real estate guys remain. They like the deal. Said go find non-recourse debt. I busted it, and found IO non-recourse bridge loan, 65% LTC, 7.75%, 2-year term, includes const. costs.

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Shiloe Bear

@shiloebear

1 year

@mwmoedinger Yessss Current vision board

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Shiloe Bear

@shiloebear

2 years

@iononrecourse @moseskagan owning a home gave me the stability I'd spent most of my life looking for it freed up mental energy I didn't know I had been wasting

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Shiloe Bear

@shiloebear

2 years

Anyone going to be in Austin Friday and want to meet up?

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