Tanner Webster @twallyweb Twitter profile | Pikagi

Pikagi

Tanner Webster

@twallyweb

4,775

Followers

887

Following

488

Media

4,176

Statuses

Real estate developer, podcast host, and overall regular guy. Sign up for my mailing list 👇

Salt Lake City, UT

https://t.co/0eK8HIKoWu

Joined September 2021

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

Pinned Tweet

@twallyweb

Tanner Webster

9 months

I hit 3,000 followers so I felt like I should tell you all my life story as a re-introduction • Originally from St George UT🏜️ • Moved to SLC UT in 2016 to get a bachelors degree and become a doctor because my mom was a single, school teacher and didn’t make a bunch of money,

Tweet media one

Tweet media two

Tweet media three

Tweet media four

12

6

142

Last Seen Profiles

@Clubpresselyon

@AvielKandr46834

@bokeplokalmalam

@clock_26eu

@JamarrTowa41827

@Cagdastok

@penyukastw21

@JakeStorey8

@MwtbgthHotbedj

@PJenika11000

@ShyloC80719

@ibubohay2

@CaressaSPo

@ChateauVLV

@omarabdulazizk

@penyukastw21

@Alexand561555

@SMarylynn73582

@UN_HRC

@DaoJeremai62996

@ISHWARMALAV1998

@CLucresha66687

@Beatrice8128

@AkronWkro

@adaga17974

@benjit14

@cpgA2vvchW39153

@Sinchan44313725

@UN_HRC

@bokeplokalmalam

@ya71742

@draft_kaigi

@_mintbunnn

@zach_calzada

@motivacion

@s_majstorovic

@twallyweb

Tanner Webster

4 months

Former car wash to micro retail- maybe the coolest development I’ve ever seen. Well done @TheCaubleGroup Someone find me a site in SLC.

Tweet media one

Tweet media two

Tweet media three

55

58

1K

@twallyweb

Tanner Webster

8 months

Just discovered Jeff Shelton, an architect out of Santa Barbara. I love it.

Tweet media one

Tweet media two

Tweet media three

Tweet media four

41

50

1K

@twallyweb

Tanner Webster

7 months

The best looking man caves I've ever seen

Tweet media one

Tweet media two

Tweet media three

Tweet media four

90

32

868

@twallyweb

Tanner Webster

4 months

I am in search of an obscenely wealthy person/family to back me on doing little infill projects that don’t make much money, but would be really fun and you could brag your friends about it. Not quite a non-profit, just not banger returns. I’ll do all the heavy lifting, and you

Tweet media one

Tweet media two

Tweet media three

Tweet media four

74

28

749

@twallyweb

Tanner Webster

10 months

If I’m understanding this correctly: I can pay ~$200,000 for solar panels for my opportunity zone project: Have a federal 30% tax credit for $60k. A state tax credit of $20k Depreciate $170k in the first year through the bonus depreciation Then add $13.5k of NOI to my

56

30

629

@twallyweb

Tanner Webster

9 months

Am I an idiot if I spec build man caves like this? I’ll have some land owned outright by end of year and idk what else to put there. Zoning allows it with conditional use (just design standards)

Tweet media one

Tweet media two

Tweet media three

Tweet media four

151

14

563

@twallyweb

Tanner Webster

3 months

Average city council meeting

18

43

534

@twallyweb

Tanner Webster

11 months

From my house to the resort in 25 minutes. I love Utah.

Tweet media one

27

2

441

@twallyweb

Tanner Webster

8 months

If the Miller family actually pulls this off, this will be the best MLB stadium in the US.

Tweet media one

Tweet media two

Tweet media three

16

10

269

@twallyweb

Tanner Webster

1 year

Tonight I had dinner with a guy who sold a company in 2008 for $250,000,000 then started one of the best private equity companies in the state. Here are 10 of the lessons he gave: 👇🏻

8

22

270

@twallyweb

Tanner Webster

10 months

Fully convinced I am the luckiest guy on the planet.

Tweet media one

Tweet media two

16

2

258

@twallyweb

Tanner Webster

1 year

Was offered 50k on a foreclosure listed at $400k 12.5% of list price……

Tweet media one

64

3

248

@twallyweb

Tanner Webster

1 year

Quick intro for new followers: I’m a real estate developer doing sub institutional ($5M-$15M) deals in Salt Lake City and surrounding areas. I got my start as a realtor/broker and house flipper. 5 years later I’ve been owned/developed $22M in projects (photos below), almost

Tweet media one

Tweet media two

Tweet media three

Tweet media four

31

1

249

@twallyweb

Tanner Webster

9 months

Black Iron and Red Brick is my all time favorite color combo ever.

Tweet media one

Tweet media two

@twallyweb

Tanner Webster

9 months

Is this the most beautiful flex building ever?

Tweet media one

34

3

164

22

3

222

@twallyweb

Tanner Webster

10 months

@CypherHoax I am way too dumb to discuss that aspect of this. I am a smooth-brained real estate guy looking for yield. Sorry!

6

1

213

@twallyweb

Tanner Webster

3 months

I love this app

Tweet media one

8

4

192

@twallyweb

Tanner Webster

2 years

Visited one of my properties today, my tenants installed a stripper pole. It’s pretty secure and mounted to a stud, good tenants, always pay on time. I’d say we just leave it. Anybody think differently?

Tweet media one

67

3

188

@twallyweb

Tanner Webster

4 months

My retirement plans: develop low income housing in wealthy neighborhoods until someone murders me.

25

3

165

@twallyweb

Tanner Webster

9 months

Is this the most beautiful flex building ever?

Tweet media one

34

3

164

@twallyweb

Tanner Webster

1 month

I asked Grok for some suggestions and I am stunned at how good this looks.

Tweet media one

@twallyweb

Tanner Webster

2 months

Most of the feedback was that it looked like a prison. Version 2 after taking some suggestions

Tweet media one

37

2

141

12

1

150

@twallyweb

Tanner Webster

2 months

Most of the feedback was that it looked like a prison. Version 2 after taking some suggestions

Tweet media one

@twallyweb

Tanner Webster

2 months

SDs for a new townhome project. What would you change? I’m thinking 1. Bigger windows 2. More breakup on the front facade 3. First floor brick 4. End unit on north side needs something instead of a big wall of stucco

Tweet media one

Tweet media two

43

0

39

37

2

141

@twallyweb

Tanner Webster

3 months

One time I reached out to a broker for comps, they were recommended to me by a friend. I accidentally shortened their name, then they posted how it was unprofessional to shorten names without asking beforehand. I can’t work with that type of temperament. Missed out on a

@fesshole

Fesshole

3 months

My name in my email signature is Thomas, not Tom. Replying to me as Tom has just lost a builder a 90k job.

6K

273

31K

20

3

139

@twallyweb

Tanner Webster

4 months

LEASE IMAGE: @twallyweb DATE: 7/3/2024 ADDRESS: 1750 W Research Way MARKET: Salt Lake City ASSET TYPE: Office Condo

Tweet media one

21

0

134

@twallyweb

Tanner Webster

10 days

“You see, I just keep building the same thing over and over again, and each time I make $100k. My investors have referred to me as the infinite money glitch”

Tweet media one

9

3

124

@twallyweb

Tanner Webster

10 months

It is amazing what you can accomplish with enough caffeine and YouTube. AutoCAD certified now.

Tweet media one

9

1

120

@twallyweb

Tanner Webster

1 year

Just realized August marks 5 years in the real estate business for me. Since 2018 I’ve Sold ~75 properties as an agent/broker Purchased $24M of real estate with great partners Renovated 16 apartments Flipped 14 houses Built 12 townhomes Entitled 8.5 acres Raised a

Tweet media one

Tweet media two

Tweet media three

Tweet media four

11

2

111

@twallyweb

Tanner Webster

1 year

My first project ever: Everyday I live with the regret of painting that house white. However, a successful project and somehow I got 100% LTC financing. That guy still invests with me today.

Tweet media one

Tweet media two

24

0

108

@twallyweb

Tanner Webster

24 days

Occasional retail developer

Tweet media one

6

0

104

@twallyweb

Tanner Webster

2 years

Certificate of occupancy has been received. Preleased on 3/12 units. Learned a lot on this one.

Tweet media one

Tweet media two

Tweet media three

15

1

100

@twallyweb

Tanner Webster

10 months

NEW RENDERING JUST DROPPED🚨

Tweet media one

Tweet media two

Tweet media three

Tweet media four

20

0

100

@twallyweb

Tanner Webster

1 month

Bought some dirt today

Tweet media one

18

0

98

@twallyweb

Tanner Webster

1 year

Every once in a while I think about the guy in my office who sold 75% of his rental portfolio to put all of his money in Crypto around fall of ‘21. RIP

18

2

93

@twallyweb

Tanner Webster

14 days

44,000 square feet of newly built contractor garages and large self storage.

Tweet media one

Tweet media two

Tweet media three

Tweet media four

11

1

90

@twallyweb

Tanner Webster

7 months

I feel dumb frequently, but not many people make me feel dumber than @rhunterh . Hunter's perspective on the allocation side brings a lot of information that I've never had the chance to learn. We discussed Late Cycle Phenomenons REITs Vs REOCs Shorting Office REITs How GPs Are

14

4

85

@twallyweb

Tanner Webster

11 months

We really need to work on understanding taxes as a country. I was talking to a seller about me buying her property for $9M. Her: but I’d have to pay $7M in taxes! 25% capital gains and 40% income taxes + whatever you have from your 1091 exchange. Me: ?????????????

16

1

77

@twallyweb

Tanner Webster

22 days

Emailed about deal: 11:00 Toured deal: 12:00 LOI sent: 2:15 Refreshed my inbox: every 8 minutes since

11

1

73

@twallyweb

Tanner Webster

11 months

There’s a guy I know who claims to have “1,000 doors” but he just invested in a fund as an LP. Hilarious, dumb, and fraudulent.

17

0

73

@twallyweb

Tanner Webster

1 year

I am very worried about my generation

Tweet media one

10

0

72

@twallyweb

Tanner Webster

1 year

I did a hard money loan a few weeks ago. Two guys borrowed $450,000 from us on a $550,000 purchase House just appraised for $655,000 on their refi🥴 I told him I’d foreclose on him if he wanted me to. He said he’ll keep me posted🤞🏻

13

1

69

@twallyweb

Tanner Webster

9 months

John McNellis. The OG stripmallguy. Much taller in person. @realEstateTrent John wanted to say hello to you. Podcast coming soon!

Tweet media one

@twallyweb

Tanner Webster

1 year

John McNellis should be talked about more on twitter. He’s the man when it comes to real estate education. His series from the Urban Land Institute is so good, also his hair is 🔥 I watch this series every 6 months and always pick up some wisdom @John_McNellis

Tweet media one

7

2

61

13

1

71

@twallyweb

Tanner Webster

10 months

Ground up development? In this economy? Sure!

Tweet media one

13

1

66

@twallyweb

Tanner Webster

1 year

Learned more in 20 minutes with @fortworthchris than I did in 4 years of college.

Tweet media one

6

0

65

@twallyweb

Tanner Webster

1 year

An example of why we need more diversity in real estate development: A friend of mine is the only female working at a development company. They were looking at a site plan and all the guys agreed that the layout was perfect, until she pointed out the poorly lit, long (honestly

10

2

66

@twallyweb

Tanner Webster

2 years

Met a new investor today. He said he was considering investing with another sponsor who is pretty famous online. Other sponsor: $30,000 onboarding fee (???) 4% acquisition fee No preferred return 10% management fee 50/50 carry Buying SFRs in Florida and AZ!?!?!?!?!?

21

0

63

@twallyweb

Tanner Webster

1 year

I, like a lot of people on here, didn’t have as much of a traditional background learning real estate. I’ve spent a lot of time on the internet googling what entitlements are, what mezzanine financing is, and the difference between 4% & 9% LIHTC projects with little success. I

Tweet media one

12

7

62

@twallyweb

Tanner Webster

2 months

Structure for my newest project: a JV with my most active limited partner. Acquisition fee: 2% on the land Development fee: 5% of hard costs No refi fee No co-invest No asset management fee All equity so no guarantee fee 80/20 over an 8% preferred return Promote

12

1

63

@twallyweb

Tanner Webster

1 year

John McNellis should be talked about more on twitter. He’s the man when it comes to real estate education. His series from the Urban Land Institute is so good, also his hair is 🔥 I watch this series every 6 months and always pick up some wisdom @John_McNellis

Tweet media one

7

2

61

@twallyweb

Tanner Webster

2 months

@chriswhatch @lancesasser That’s crazy. What’s the address? Don’t want to end up over there.

2

0

57

@twallyweb

Tanner Webster

1 year

Whether you worked at a trammel Crow with a Harvard MBA or you started off with a duplex in Jackson Mississippi, there are a lot of things they don’t teach you about running an investment management business. You gotta know a little about accounting, law, finance and a multitude

2

4

58

@twallyweb

Tanner Webster

1 year

This week I get to interview the man himself @DonovanBuilds on the podcast. $10M across 54 units in ground up duplexes by the age of 27. What do you wanna know?

Tweet media one

Tweet media two

Tweet media three

Tweet media four

6

1

56

@twallyweb

Tanner Webster

1 year

After today’s refinance, I no longer have any debt that balloons until 2026. I am now going to change my market sentiment to very bearish and make as many comparisons to 2008 and the Great Depression as humanly possible.

3

1

55

@twallyweb

Tanner Webster

1 year

In preparation for @fortworthchris ‘s meetup. I relistened to my top episodes of the fort podcast. Here they are: kind of in order

4

3

55

@twallyweb

Tanner Webster

1 year

Devastating News. So many people had similar interactions as I did with Artem. Simple one off conversations, always incredibly kind, open, and helpful. A perfect embodiment of the American dream. I will miss him deeply in our little community. Gone far too soon.

Tweet media one

Tweet media two

0

0

53

@twallyweb

Tanner Webster

10 months

I was joined by the drive thru king himself @NNNIncome to discuss CRE brokerage, drive thru development, and apartments. Chris also gives his secrets for getting brokers to send you deals. btw, if you have a @DutchBros site please send it his way. Enjoy!

5

4

51

@twallyweb

Tanner Webster

2 months

Just saw a pitch deck with a $90k acquisition fee on $500k piece of dirt from a guy building self storage in a random southeast town. We’re so back🚀🚀🚀

8

0

52

@twallyweb

Tanner Webster

6 months

“We’re not like everyone else. We underwrite these deals very conservatively”

Tweet media one

3

1

50

@twallyweb

Tanner Webster

6 months

Today’s stats: Calls: a lot Answer rate: idk Interested sellers: zero Hinge matches in between calls: zero Rough day at the office. Back at it again tomorrow!

@twallyweb

Tanner Webster

6 months

Getting back on my bullshit with cold calling owners. Remarkable how many old construction guys own a hundred thousand square feet with no debt, just building stuff and holding on🫨

9

0

23

4

0

50

@twallyweb

Tanner Webster

5 months

Perks of being a landlord.

Tweet media one

5

0

48

@twallyweb

Tanner Webster

6 months

“We’d like to get 18% net IRRs over 10 years without going above 60% LTV, and we also won’t take construction risk.” ‘Yes, and I would like to play centerfield for the Yankees’

3

1

48

@twallyweb

Tanner Webster

8 months

When I grow up, I want to be like @TexasDoughnut_ from Ocotillo Capital Partners. Josh and his partner are Texas natives doing the coolest projects I could ever dream of doing. Capitalizing on the long term US-Mexico trade expansion through 100k+ tilt up industrial buildings as

2

0

48

@twallyweb

Tanner Webster

1 year

1. You’re not going to be profitable for 3 years after you start your business *if you want it to be big*. It takes time and a ton of money to get the flywheel spinning.

1

0

45

@twallyweb

Tanner Webster

11 months

I just don’t know how anyone thinks they can compete with the institutional players in Self storage. Public storage issued $500M of bonds at .875% Extraspace issued $600M in 10 year bonds at 2.35% Their cost of capital is soooooooooo much better

11

1

47

@twallyweb

Tanner Webster

5 months

In the early 90s, my grandpa sold the back half of his lot to a twin home developer, part of the deal was that he got to keep a unit. He was a high school history teacher and it was going to be part of his retirement. That investment turned into a pretty mediocre one, because

Tweet media one

5

0

47

@twallyweb

Tanner Webster

1 year

@CohenSite @mnolangray You just got put on a watchlist for this comment

0

0

45

@twallyweb

Tanner Webster

2 months

This is me. First development deal was done with a guy who guaranteed a construction loan, and put up 85% of the equity for me and my non existent track record. Met him once before that at Buffalo Wild Wings.

@moseskagan

Moses Kagan

2 months

As you think about how to present yourself & your company to the world remember: Your entire career in real estate can be made by one guy with an AOL email address taking a particular liking to you

24

6

306

1

1

45

@twallyweb

Tanner Webster

1 month

Grateful to my grandpa, the livestock industry, and the savings & loans institution that allowed him to borrow 100% of cost for land in the middle of no where.

2

1

45

@twallyweb

Tanner Webster

10 months

This one checks every single box of things I make fun of. Incredible.

Tweet media one

Tweet media two

Tweet media three

Tweet media four

8

0

43

@twallyweb

Tanner Webster

7 months

@charliewrich Feels good to know I’m not alone.

1

0

42

@twallyweb

Tanner Webster

1 year

Garden style tilt up. Have no idea why anyone would ever do this, but it’s at least kinda cool

Tweet media one

Tweet media two

Tweet media three

Tweet media four

11

2

43

@twallyweb

Tanner Webster

4 months

Editing @financeguy725 ’s podcast so my religious friends can still listen.

9

0

44

@twallyweb

Tanner Webster

2 years

My pipeline is now full! 7 foreclosure deals now in motion!!

Tweet media one

5

4

42

@twallyweb

Tanner Webster

1 month

This is how home marketing should be done.

7

1

43

@twallyweb

Tanner Webster

2 years

Figured I should have an introductory tweet before I meet everyone at @REconveneLA 26 y/o operator based out of Salt Lake City Utah Former real estate broker/agent started off by flipping about $11,000,000 of single family homes. Transitioned to the development/long term /1

5

1

43

@twallyweb

Tanner Webster

9 months

It’s tough being the sole landlord in a group message full of communists.

Tweet media one

3

2

42

@twallyweb

Tanner Webster

6 months

I was joined in studio by @tyleralley24 so he could teach me how he builds stripmalls better than everyone else. We go through the entire cycle: Acquisition- working with economic developers Design- the optimal strip center depth Financing- with lots of tangents Construction- so

6

1

42

@twallyweb

Tanner Webster

1 year

Signing on my largest development to date today 4 retail pads (LOIs/PSAs signed before closing) 4 acres of flex industrial in the back 4 years of seller financing Now the real work begins! Big thanks to @CRE_Legends for the emotional support along the way.

Tweet media one

6

2

40

@twallyweb

Tanner Webster

1 year

8. True wealth comes only from owning a business, he sold his company for 20x EBITDA. Impossible to gain that wealth with a job.

1

0

40

@twallyweb

Tanner Webster

7 months

One of my friends is doing his first townhome development, and asked me for advice 1. Contingency should be 10% of hard costs. 2. Hire an owner’s rep on your first project. 3. Make sure you budget for utility fees. 4. Do lower leverage than you could. 5. Decide for rent

5

0

38

@twallyweb

Tanner Webster

1 year

2. If you don’t love what you do, retirement will kill you. After he sold his company, he had two options; collect dividends and refresh his big portfolio balance every morning and wait until he dies, or go out and help young entrepreneurs expand their business. He chose the

2

0

37

@twallyweb

Tanner Webster

1 year

One of my private lenders manages his family’s holdings. Part of those holdings is a ~100 acre farm in the middle of town. He borrows against on that on a revolver for prime +50 bps. Then lends out to fix and flippers for 2 points and 12% APR. Not a bad life.

3

1

39

@twallyweb

Tanner Webster

2 months

New Lamborghini in the gym parking lot today. Someone’s about to learn about the fundamentals of infill industrial assets today.

3

1

40

@twallyweb

Tanner Webster

2 months

SDs for a new townhome project. What would you change? I’m thinking 1. Bigger windows 2. More breakup on the front facade 3. First floor brick 4. End unit on north side needs something instead of a big wall of stucco

Tweet media one

Tweet media two

43

0

39

@twallyweb

Tanner Webster

6 months

Can everyone put a 🤞🏻 in the replies for this LOI I just wrote? It’s a beauty.

14

0

38

@twallyweb

Tanner Webster

7 months

Some light reading this afternoon

Tweet media one

5

1

38

@twallyweb

Tanner Webster

2 months

Utah State University is doing something really cool right now. Development is a hard business to break into for students that aren’t well connected. They’re launching a fund to invest with real estate developers in exchange for teaching their interns the processes involved.

3

0

38

@twallyweb

Tanner Webster

6 months

Please only refer to me as Tanner Webster, HOA president. Since I am not rich, I have to do deals that involve a lot of work, over the past 6 months I’ve been working on documents to amend the current CC&Rs and HOA docs of an office condo development so I can build a flex

Tweet media one

Tweet media two

10

1

38

@twallyweb

Tanner Webster

1 year

6. He had his employees in sales spend the first week of their training with operations. He had his employees in operations spend the first week of their training with sales. When you have two sides of your operation out of sync and unappreciative of each other, you’re

1

1

37

@twallyweb

Tanner Webster

18 days

Working on something exciting: impact investing. One of my favorite LPs (sorry everyone else) talked to me about getting involved in affordable housing. Salt Lake City’s new initiative can streamline the permitting process, and add additional density to make this more

11

0

38

@twallyweb

Tanner Webster

3 months

Three generations of Websters. Happy Pioneer Day🇺🇸

Tweet media one

9

0

38

@twallyweb

Tanner Webster

6 months

The IRS hates this one trick

Tweet media one

8

2

38

@twallyweb

Tanner Webster

11 months

I had a general contractor call me on Tuesday. He called and said “hey do you have any upcoming projects for me to bid on?” What would’ve worked much better: “Hello. I recent bid a townhome/industrial/retail/whatever building. These are the specs, and this is how much we think

@moseskagan

Moses Kagan

11 months

Example of the kind of high value content brokers could produce & disseminate to build trust: Go get a friendly prop mgmt co. or two to give you anonymized P&Ls for, say, 5-15 unit buildings. Create benchmarks for various opex line items. Create an easy-to-digest report.

14

4

144

2

2

37

@twallyweb

Tanner Webster

6 months

If i were to make a true apprenticeship model for real estate development, it would probably be: Year One: on site superintendent Year Two: accounting Year Three: leasing broker Year Four: capital markets brokerage Year Five: marry someone rich

9

0

36

@twallyweb

Tanner Webster

6 months

Gear secured 🔒🔒🔒🔒🔒

@twallyweb

Tanner Webster

7 months

Close on this project in two months. Trying to order electrical parts today.

Tweet media one

6

0

24

6

0

37

@twallyweb

Tanner Webster

8 months

I always chuckle when people say that residential real estate is emotional, but CRE isn’t. Every seller I have ever talked to is convinced they own the greatest piece of real estate God has ever created and any buyer can assume CPI + 15% for yoy rent growth due to the

6

0

36

@twallyweb

Tanner Webster

4 months

This needs to be designated as a historic landmark.

Tweet media one

6

0

35

@twallyweb

Tanner Webster

21 days

BTS of my creative design processes

Tweet media one

Tweet media two

Tweet media three

6

2

36

@twallyweb

Tanner Webster

1 year

In the last 127 hours : 1. Got fully subscribed for my largest equity raise to date. 2. Signed a purchase contract for a 4,000 SF industrial building 3. Received an LOI to assign a land development deal to another group 4. Hit 27 over through 9 at a public course⛳️

2

2

35

@twallyweb

Tanner Webster

6 months

Far and away the most important thing in the sub institutional real estate world is buying from motivated sellers. If there is no motivation, you’re either spinning your wheels or buying a dramatically overpriced deal. Where does motivation come from? Pain points To quote

1

1

36

@twallyweb

Tanner Webster

1 year

This is exactly how every ‘pattern trader’ sounds to me. Hope he has a course I can buy. Thanks for the clip @kylascan

2

3

36