Resi Novice

Standard NYC 20-something making low six figures trying to get my feet wet in RE investing. 3 Years Residential Acquisitions at $100B+ AUM shop.

[Resi Novice @Basement3cap]

@curtisrowe10 @realEstateTrent Was at a nearby mountain (Belleayre) today. More than half of the trails were open, more than enough space / snow for beginner and intermediate skiers.

[Resi Novice @Basement3cap]

@ThinkAppraiser Any tools you use to identify a growing medium to large city?

[Resi Novice @Basement3cap]

@KylefantNNN RTS ratios?

[Resi Novice @Basement3cap]

@ConradMadsen Can be the case for sales data, not true for leasing data at least on the retail side. I worked in tenant rep at one of these shops in NYC for 2 years and sharing data amongst the big names and internally was very common.

[Resi Novice @Basement3cap]

@skooookum Tony P on instagram strongly disagrees.

[Resi Novice @Basement3cap]

@TheRealEstateG6 Best sources to find deals that aren’t LoopNet?

[Resi Novice @Basement3cap]

And I’m sure brokers feel the same way about acq. people. A symbiotic relationship where both sides hate each other.

[Resi Novice @Basement3cap]

Really hard not to have disdain for brokers in my seat, everyone’s trying to sell you something, marketing materials and broker UW is complete BS and purposefully meant to influence your decision making. A lot of good out there but much much more bad.

[Resi Novice @Basement3cap]

@ThinkAppraiser Sounds scrubby but true - HBO’s Too Big to Fail breaks down the crisis pretty well. Pretty easy to see that we are NOT in a 2008 situation.

Whatever happens in the next few years will probably be a whole “new” kind of crisis.

[Resi Novice @Basement3cap]

@TheRealEstateG6 @jr66907422 The pull that replies like this has on young minds..

[Resi Novice @Basement3cap]

@realEstateTrent As an acquisition person at a large institution, I can attest. Seemingly only resi deals going through and the jury is still out on if resi rents are the next falling knife. NYC rent growth went backwards again this month.

[Resi Novice @Basement3cap]

@TheRealEstateG6 What is a good NOI margin to use?

[Resi Novice @Basement3cap]

@realEstateTrent @CHIREALTOR Hot take and I like it

[Resi Novice @Basement3cap]

@RandallHouseRE We’re you completely new to the Huntsville / Decatur market? Curious how interaction with the manager, contractors, etc were during your hold. Thanks!

[Resi Novice @Basement3cap]

@realEstateTrent And if you can, do investment banking for two years and then do whatever you want.

[Resi Novice @Basement3cap]

@realEstateTrent Any advice on how to do this if you’re working in a place like NYC with a stable acquisitions job?

[Resi Novice @Basement3cap]

@nickgerli1 ALSO worth keeping in mind that institutional SFR ownership represents less than 1% of the total single family market.. the masses of everyday home owners and overall market sentiment has much more influence than institutions.

[Resi Novice @Basement3cap]

@nickgerli1 This is happening but not necessarily market specific. The SFR reits had said they’re letting go of anything below a certain cap rate putting that into a money market account getting >5%

[Resi Novice @Basement3cap]

@CREdebtlawyer Think they’ll need a reason to lower them.

[Resi Novice @Basement3cap]

@KenjiCapital When do we start buying VNO stock?