Anthony Michael

[Anthony Michael @AAnthony_22]

@TheJSantiago Messaged you

[Anthony Michael @AAnthony_22]

@realEstateTrent Unlicensed broker. They source deals like a broker does, But instead of capping their commission/fee at 2-6% they sell the contract to purchase the property at a pre negotiated price. Though, they usually do this under the guise of the end buyer without telling the seller .

[Anthony Michael @AAnthony_22]

@thmoneycircle @rei_chronicles @Jacob_Naviaux And he’ll forever be fighting over $9,000 EMD’s instead of $90,000.

[Anthony Michael @AAnthony_22]

@thmoneycircle For you. Dm me I’ll make it work .

[Anthony Michael @AAnthony_22]

@TheJSantiago Messaged you

[Moses Kagan @moseskagan]

What every voter and apparently, the NY Times Editorial Board, should know about housing policy:

1. Rents reflect the balance of supply of apartments and demand for those apartments in a given area. That’s it; there’s no magic. If you want lower rents, you can hope for a recession that destroys jobs and, therefore, demand. Or you can add supply.

2. There is no amount of money that any big city government could feasibly spend that would add materially to supply. This is because, depending on the location, new apartments cost $250,000-1,000,000 to develop… building even a few hundred of those starts to stress any city budget, and many big cities need tens or hundreds of thousands.

3. On the other hand, investors (including pension funds and endowments, insurance companies, rich families, etc.) can collectively **easily** provide enough capital to build as much housing as we need **so long as they are confident they can get a reasonable return**.

To get those investors to fund the creation of the housing our society needs, we must do two things:

1. Dramatically reduce the time & complexity associated with securing governmental permission to develop housing. This means reviewing and simplifying the overlapping regulations that constrain housing production: zoning codes, building codes, parking, ADA, etc. But it also means changing the cultures within the relevant governmental agencies from “default no” to “how can we help you?”.

2. Provide certainty around on-going regulation of apartment operations.

The way investors get a return from building rentals is as follows: They hire managers to lease the apartments, collect the rents, pay operating expenses and any mortgage payments, and then send the investors the cashflow that remains.

But governments all over the country have been restricting the manner in which apartment buildings can be operated in all kinds of ways.

For example: Cities have been making it harder to screen tenants, while also making it much harder to evict tenants who don’t pay. You can see why both of those measures are politically popular. After all, who doesn’t want people to get second chances? And who wants anyone to get evicted? But, as a manager, the combination of those two regulations makes it much harder to predict, with any certainty, that the rent will get paid… and that makes it very difficult to get investors to provide capital to create more housing.

Another example: Rent control. Again, I understand why renters love rent control and why politicians want to give it to them. But, if, as has been the case in NY, LA and San Francisco, city governments hold annual rent increases below the rate of growth in the operating expenses of the buildings, the cashflow payable to the investors shrinks… making them much less likely to invest capital in building more apartments.

In conclusion: For ~every other good or service in the economy, we allow the market to function, and the result is that we have a surplus of choice at all price points (think of food or clothes or cars), which is spectacular for the consumer. If we want a surplus of choice at all price points in housing, we need to get comfortable with the idea of allowing the market to provide it.

And that means allowing investors to build rental apartments *and* allowing them to operate those apartments in a manner consistent with making a reasonable profit.

Remember: Every developer of rentals is either a landlord-in-waiting or hoping to sell to one.

[Spitfire @RealSpitfire]

911……I’d like to report a murder…..💥💥💥👇🏼

[Paul @LA_Multi_Fam]

For the newbies, rent control regulations kill housing supply, leading to increased rents.

[Paul @LA_Multi_Fam]

Who knew the ultimate rent control is no rent control

[John Otter @otter401]

What do all these cities have in common?

Answer: All of them have built a ton of new apartments since COVID

[Anthony Michael @AAnthony_22]

@sellercarry @mattjonesmcm Messaged you

[Dan McLaughlin @baseballcrank]

A society that valorizes heroes will last longer & accomplish more than one that valorizes victims.

[Nick Huber @sweatystartup]

Gay person: im gay

Retarded person: I’m retarded

Gay retarded person: I use 24/7 Claude agents on a MacBook mini and they are blowing my mind

[Cimmerian Pervert @cimmerian_v]

Where was Gondor when the Costco fell?

[Anthony Michael @AAnthony_22]

@DanielKaplanRE Messaged you

[Anthony Michael @AAnthony_22]

@moseskagan Ramp by far the best. Saves you a step in book keeping when purchasing, renovating and turning units.
@dmac090eth

[M @Americassaviur]

Trump 2028. Mar a lago 📍

[Chamath Palihapitiya @chamath]

This was beyond reckless and irresponsible.

They should play this “side by side” clip on BBC so people can see both versions and judge for themselves.

[Anthony Michael @AAnthony_22]

@Jason______A This is the way