TexasCRE

Opportunity and Freedom

[TexasCRE @TX_CRE]

@MayorMattie Your legacy has been written; you failed the children of Fort Worth by allowing the TEA to take over your public schools. 5x the amount of uncertified teachers under your watch...UNACCEPTABLE

[Blake Burge @blakeaburge]

Believe me: Life gets a lot better when you stop treating every inconvenience like it's the end of the world. Most things aren't "ruining your day" unless you decide they are.

[Adam Singer @AdamSinger]

Why do they not simply lock up the criminals

[Amy Nixon @texasrunnerDFW]

Things are getting heated across all of Collin County now. It’s not just Frisco

And yes, these tensions impact housing markets

[Dave Portnoy @stoolpresidente]

So you need a valid ID to shop at Mandami’s government grocery stores to make sure the system isnt taken advantage of

But the same people who love this idea will also scream racism if you say you need a valid ID to vote so the system doesnt get taken advantage of.

Hypocrites man…Either you should be for no ID for both or ID for both. But if you are split than you are prob a fraud

[Moses Kagan @moseskagan]

One of our primary goals at Reconvene: Surfacing interesting, new ideas for our attendees to copy in their home markets.

About six years ago, I wrote a tiny LP check into a mobile home park deal, which, notwithstanding the headwinds the ~entire real estate business has been experiencing, turned out to be one of the best passive investments I have ever made.

And it’s not hard to understand why: Zoning and NIMBY pressure mean almost no new parks get built, and existing parks are regularly lost to redevelopment. At the same time, the affordable housing crisis keeps deepening, making MHPs the largest source of unsubsidized affordable housing in the country. So the supply / demand balance tends to work in favor of owners.

But, as Michael Mirski, co-founder of TCC Management and host of our Mobile Home Park Breakout, has discovered, while the numbers are often great, acquiring and operating these assets at scale is not easy!

Michael co-founded TCC in 2018 to scale entrepreneurial platforms in niche asset classes. His flagship platform, The Churchlight Communities, has acquired over 150 parks and 10,000 lots across 26 states. His team famously bought a park every single week in 2021, and he is coming to Reconvene to share the hard-learned lessons that came with that rapid growth.

In this off-the-record Breakout, Michael will cover:

- Trailer Parks 101: Asset selection fundamentals including public vs. private utilities, tenant-owned vs. park-owned homes, market selection, and the diligence traps that kill deals
- The Trap of Cheap Parks: Why a 10% cap trailer park and a 5% cap manufactured housing community are vastly different businesses, and why buyers eventually learn to focus on quality
- Scaling and the Valley of Death: The operational intensity of growing an in-house property management company from a single park in Albuquerque to 125 employees in the U.S. and 25 internationally
- The Long Arc of Regulation: Navigating rent control, tenant ROFR rights, Fannie and Freddie financing, and what he learned about government from his time in DOGE and HUD
- The Institutional Money Boomerang: Why real estate private equity enters and rapidly exits the space, and what that turnover means for the go-forward opportunity set
- Bonus Depreciation: Why mobile home parks are one of the most efficient expressions of bonus depreciation

As always at Reconvene, we will leave plenty of time for Q&A, so come with questions for one of the most active operators in the country.

If you're interested in joining us in Santa Monica in early October, check out https://t.co/cJJy5L8ZTM or DM me.

[Saif @diol2n]

كان المصور سكوت يقوم بتصوير شاطى سيبرايت في كاليفورنيا عندما لاحظ رأس شخص يظهر ويختفي وسط الامواج العنيفة فسارع الى ابلاغ احد المنقذين

اتضح انه صبي بعمر 10 سنوات كان يركب الامواج على اللوح، قام المنقذ بالامساك به على الرغم من قوة وشدة الامواج الا انه تشبث به بقوه حاول البعض مساعدته لكن الامواج اسقطتهم فتراجعوا من الخوف لكن المنقذ استمر حتى انقذ الصبي

الاكثر اثارة في الموضوع ان المنقذ كان في موسمه الاول فقط من العمل

[Norgard @BrianNorgard]

Heroic. Notice how calm he stayed. Much respect, the lifeguards worked their asses off this past dangerous weekend given the large surf and rip tides.

[Steve Hilton @SteveHiltonx]

Here it is – our first ad from the people who created those fantastic videos for Spencer Pratt.

The People vs The Machine:

[Chef Andrew Gruel @ChefGruel]

Before you toss your eggs, check the carton. The recalled eggs have plant code P-1950 or 0840962 and a Julian date between 157–184 (printed on the side of the carton). If yours matches, don’t eat them

[TexasCRE @TX_CRE]

@bairdk may want to use their rental set, have fun...

[Alvin @Alvin1492840]

A guy bought a $1,500 Samsung TV 3 years ago.

He watched Netflix. He watched YouTube. He thought the picture looked fine. He assumed that's just what a TV looks like.

His friend, a home theater installer who calibrates TVs for a living, walked into his apartment and looked at the screen for 5 seconds.

"You're watching everything in demo mode. The motion smoothing is on. The eco dimmer is cutting your brightness by 40%. Your TV is taking a screenshot of your screen every 30 seconds and selling your viewing data to advertisers. And you're watching a $1,500 panel in the same picture mode Best Buy uses under fluorescent lights to make TVs pop on a showroom wall."
He changed 9 settings in 12 minutes.

The picture looked like a different television. The soap opera effect disappeared. The colors became natural. The TV stopped spying on him.
Here's every setting he changed 🧵

[Tee Times @TeeTimesPub]

Bryson shoots 67 and has responded to Nick Faldo saying he has "zero clue of strategy"

THIS LEAGUE!😂

[CaliRN619 🚑🩺🚑 @CaliRN619]

When someone fraudulently charged $25 on my credit card, I knew within 24 hours and fixed the issue.

When my Door Dash order gives me a small fry instead of the large fry I paid for, I get a refund within a day.

When my Instacart order is missing the bananas I ordered, I ensure it’s replaced immediately.

So why can’t the government figure out how to spot fraud and abuse that’s rampant across all taxpayer funded programs?

The auditors (Congress) are in on the grift and/or the government has way too much of our money that would be better managed at the local level where we can track it easily.

Either way the only solution is for the feds to go back to using our money to fund only the items specifically spelled out in the Constitution and give states responsibility for everything else.

[Chris Powers @fortworthchris]

Since 2022, the S&P is up 75%. Commercial real estate is down 20 to 25%. Mark Gibson of @JLL says that gap is why the world's largest allocators are looking at real estate again.

"It's underperformed virtually every other asset class that you can invest in over the last four years."

His explanation: development and value-add bets ran into COVID cost overruns and 200 to 300 basis points of cap rate expansion.

"The math doesn't work."

In this clip, why a far more stable market has the biggest investors ready to move back into hard assets.

[Chef Andrew Gruel @ChefGruel]

Interestingly, using goats is a great way get rid of weeds without using harmful herbicides. It’s been promoted a lot lately as a way of decreasing their usage. It’s almost as if someone encouraged the government to get ahead of this.

[Documenting Saylor @saylordocs]

The max one can pay into social security per year is $10,453.20.

If you did that every year from age 18 until retirement, the max you’ll get from SS is $4,873 /month.

If you put it into an S&P index fund instead, you would receive $32,583 per month.

Social Security is a scam.

[Carnivore Aurelius ©🥩 ☀️🦙 @AlpacaAurelius]

i've been looking into blood type diet and there's something to it.

your blood type is a signature of how you evolved.

O = mammoth hunter
A = scandinavian fisherman
B = Mongol herdsman / peasant
AB = hybrid

if you want to truly eat ancestrally, it makes sense to eat more like your genetic lineage.

O = lots of steak, bison, lamb, liver, eggs, berries, some rice, no wheat

A = cod, salmon, trout, sardines, eggs, turkey, fruit, even some wheat, rice and oats...but less cow

B = lamb, goat, beef, venison, milk, cheese, kefir, yogurt, rice, lots of fruit

AB = fish, lamb, fermented dairy

some blood types do way better with beef, others do way better with other animals and dairy.

experiment on yourself and see what works.

[Andrew Follett @AndrewCFollett]

Defense is 8% of US government spending.

Education 15%!

Welfare is 47%!

[rebelEducator @rebelEducator]

The reign of public school is ending