Ariel

RE Salesperson, Building Service Businesses

[Ariel @Ariel_J_]

@bobbyfijan @groundupgrind @khzny I thought all of the objections to affordable housing are cloaks of ^^

[Ariel @Ariel_J_]

And then the lord said unto thee, use Lightroom or you ain’t gettin’ the listing

[Ariel @Ariel_J_]

@groundupgrind @MasonFiascone Too much fun to be a stick in the mud. Literally changing the world!

[Ariel @Ariel_J_]

@ZarathustraCap Ha! Talking about philosophical discussions - run a 50 yr waterfall & see what happens around yr 20.

Hard to turn down one in the hand, but you’re golden if you can control a few hundred units and just don’t sell.

[Ariel @Ariel_J_]

@moseskagan @mu2myoc There’s got to be someone you can pay to go through the brain damage. Seems like the best terms on the market… if you wanted to recap in a decade w higher rates, gives you the optionality to throw mezz on top & lock in low rates for most of the cap stack.

[Ariel @Ariel_J_]

@ZarathustraCap Didn’t know you were a GP; wasn’t meant as a diss.

For LPs that pay taxes and don’t have a better alternative, not sure it is really in anyone’s best interest to sell good assets.

Happy medium is probably to mark to market, crystallize promote, and roll over into core fund.

[Ariel @Ariel_J_]

@tintinren1 Shouldn’t trust anyone who says they’re honest, but we’ve done about dozen roofs since November and haven’t charged anyone for sheathing yet. If you’ve got some work in the Hudson Valley, I’d love to put up a bid. Hudsonvalleyroofer dot com.

[Ariel @Ariel_J_]

@rwdaigle Congrats man

[Ariel @Ariel_J_]

@excel_ranger @DonovanBuilds Good luck!

[Ariel @Ariel_J_]

@jasoncoxnc @moseskagan @iononrecourse @rhunterh @RohunJauhar @EllliotttB @seandsweeney @PinkPoloShorts Hit up local hard money shops. If it’s small, unlikely you get better than like 10% mezz debt. Typically few mill min to get better.

[Ariel @Ariel_J_]

@EllliotttB Didn’t really see very much distressed pricing (despite bankruptcies) outside of, like, Houston on the private side.

Took advantage of the hospitality REIT mispricing, but even w like 30% returns over those few months, it didn’t seem to be a better play than $SPY

[Ariel @Ariel_J_]

@moseskagan @iononrecourse @rhunterh @jasoncoxnc @RohunJauhar @EllliotttB @seandsweeney @PinkPoloShorts So much $$ on the sidelines. Why give a mezz shop 8%+ & introduce a ton of red tape when existing LPs would love to hop in?

[Ariel @Ariel_J_]

@EllliotttB Doesn’t work there bc of construction demand there. Ie. That Aurora office deal that sat on market for a while

Have had deals pencil in tertiary markets w/ super old office stock ($8 psf gross / 40% occ) that happened to have high resi rents ($24+ PSF) & deep labor markets.

[Ariel @Ariel_J_]

@ibuyrvparks @somehotelguy It’s a tough model bc you can’t support a full time front desk. We tried a self service model / phone support, and guests killed our reviews.

Few years ago, though, & older crowd. Lmk if I can help with anything!

[Ariel @Ariel_J_]

@BarryRoland19 I don’t have any experience in RC, but my understanding is that here in NYC they tied up a bunch of the loopholes folks historically used to destabilize a few years ago, like investing artificially high amounts of CAPEX to drive rent

What’re the table stakes for RC upside in LA?

[Ariel @Ariel_J_]

@mu2myoc @Cribdilla I’m probably missing something, but it seems like his message seems to be: buy under-rented strip malls a decent basis, release at market, and sell at an inflated basis to someone who focuses on yield.

[Ariel @Ariel_J_]

@BarryRoland19 If you’re taking the stabilized declining annuity approach to RC units, it seems like the fundamentals are worse in a high inflationary environment.

Do you think the stability in pricing is due to lower caps or is there something else to it?

[Ariel @Ariel_J_]

@FreightAlley 100% - two cups of black coffee is all you need before 2 pm