Brokers who were active in the early 2000s, worked through the crash, and are still working, are incredibly valuable right now. A higher percentage of them: - know how to work with lenders - know how long a crash takes to fully play out (hint - takes longer to start than anyone

This is so awesome.

On a recent deal that closed in one of my markets: Broker submitted an offer at $4.5m. 30d DD, another 30d to close. Closed less than a month later at $4.3m with a different broker. How?? Buyer had an all cash, 20d close offer. Lesson: determine what matters to you, and

Best concession I’ve seen this week: - 8 weeks free - branded bath robe - diffuser - poker set - coffee mugs - self-watering planter - farmer’s market bag - Box of tea from local vendor

💯

This is an awesome book. Recommend if you’re interested in: - old school deal making - aviation - gambling / casinos - real estate

If you’re in RE and find yourself with nothing to do… Go on a walk, pick up the phone, and call someone. - investors - brokers - another operator - your property manager - mentors

Looking for my next credit card deal - any recommendations? Recently completed or currently working on: - AmEx Platinum - 150k points after $8k of spend - Chase Freedom - 2x all points EOY 1

Weekly steps average: 14,459 Monthly steps average: 12,729 6 month steps average: 13,421 Go get it!

Meeting at 9:45a - 10:45a Received deal at 10:12a, but didn’t get back to my computer until 10:45a. Meeting from 12p - 1p. Verbal offer to broker at 1:40p. 💥💥

Lol

Thoughts on 50bp rate cut: - Cutting rates can actually slow activity as people wait for rates to go lower, especially when they announce that they expect another 100bps of cuts in the next year. The standard home buyer doesn’t understand how rates work / that they “price in”

Best multifamily amenity I've seen this week: a ski simulator!

Excuse me?

Baby boy coming in March!!

Starting in October, American Family insurance will no longer be taking on new business for multifamily assets in any market, of any age. Starting in 2025, they will be non-renewing every multifamily asset they have. The insurance market gets tighter!!

Real life is starting to make it into the earnings reports of some of the largest home builders. As a reminder, these reports are way lagging indicators. - gross margins down - orders fell short (units and pricing) - deliveries lighter than expected

Spoiler - this isn’t a trend that’s magically isolated to FL…

Broker just listed a $30m listing in one of our markets. He’s been taking to the owner / their family for 30 years, and they just decided to sell due to a death in the family. The family doesn’t own any other assets in his market! He spent 30y building a relationship, adding

I spoke to a property manager this morning who is using construction teams who previously worked for a large builder to turn units “because they don’t have anything to do right now.” However, the NAHB is reporting that there’s a shortage of construction workers. Which source