Just got a call from an out of country VA trying to buy my building which they knew nothing about. They thought it was a separate asset class. Cold calls definitely work but does having a VA do massive volume actually find deals for people?

I just got invited to be on my first podcast. Apparently they like the projects I’ve built. am I gonna be famous now?

The art of bidding to come in 3rd is quite a skill

How to find off market deal flow: Step 1: ask brokers what’s in their pipeline. Step 2: call them every few weeks Step 3: keep calling Step 4: keep developing the relationship Step 5: make offers Step 6: be a polite pest Step 7: repeat.

Been trying to get a rent roll from a broker for a week. First rent roll was missing 50% of the square footage. Second rent roll was missing 14 tenants. The bar is so low. I don’t get it. Check stuff before it goes to buyers. You’ll have a more competitive process.

My favorite part of Costar lately has been looking up the property I’m reviewing and realizing that my bid is below the loan. So I really need to call the lender.

This is a first. Looking to bid on something - and I called planning and zoning. They can’t tell me how much is under development in my asset class. I need to do a Freedom of Information Request

Just ran into new one….someone listed a deal in a FB group. I recognize the numbers and locations. He lists 3 more so I reach out. He went and tied up brokered deals that couldn’t sell. Now wants to flip it for a 3% fee. I just don’t get it - why burn your broker relationships?

Broker just told me only opex is taxes; ins, and operating software. No R&M bc it’s new. They also insisted it’s real. Than mentioned PM salary charged to property is $500/month. To which I said - well that’s not on the P&L. I just don’t get why ppl lie. This is a pass

Spoke w someone trying to flip a contract this week. Gave me the income & expenses as 1 line item telling me the rent roll and T12 will come if we go under contract with you. Who would go under contract with two numbers? Can someone please tell me what I’m missing?

ChatGPT has officially become my new rent roll analysis tool. What used to take me 25-45 min in excel to clean a rent roll and set it up for review-I can now upload a PDF to ChatGPT, prompt a few questions and have the same analysis done in 2 minutes. Huge timesaver.

This is a first..NDA sent to me had a paragraph that limited my ability to buy or have a competing business to the seller, within the county, for 2 years. lol…

If AI is in a bubble, the amount of dollars being spent on AI alone, when lost, will wipe out so much money it will help stop inflation. Thoughts?

Saw a few new deals Monday / Tuesday. I was surprised as it’s Thanksgiving week. Followed up w the brokers immediately to get the info. Still crickets-assume traveling Broker friends - why list deals Thanksgiving week? Most ppl are traveling. Why not wait until the week after?

Anyone else read posts and realize that someone is using ChatGPT to write for them? It’s pretty hilarious and the writing doesn’t feel natural.

Hang around the hoop is sometimes the easiest and best acquisition strategy. Just call the broker month after month when something you want is sitting on the market. Sellers will get realistic.

Trial / error / and a willingness to just keep trucking. Thats about it. The trick is knowing when to cut a trial and you’ve hit an error.

Saw a new deal hit the market by a small unknown brokerage - reached out to the managing partner & associate. MP responded that the associate will send the info next week as they are away this week. I struggle to understand how some people operate like this.

Started using Real AI over Chat GPT ..much better for real estate stuff

Just joined the got blocked by stripmallguy club! Didn’t pass judgement on a strategy bc I don’t have enough info Alexander Roth and challenged stripmallguy that he wasn’t asking the right questions or enough questions to pass judgement. Crazy ppl will block you for disagreeing