You want to make the big money you have to be the guy.
More risk.
More work.
More pressure.
More responsibility.
If you want the upside, you have to carry the weight.
You gotta pay the cost to be the boss.
McConaughey: "A nice guy gets along... They don't necessarily have discernment or judgment, not sure what they stand for or against."
"A good man has ideals he stands for and stands against. When tested, a good man is not a nice guy."
🚨 Here is the full 42 minutes of my crew and I exposing Minnesota fraud, this might be my most important work yet. We uncovered over $110,000,000 in ONE day. Like it and share it around like wildfire! Its time to hold these corrupt politicians and fraudsters accountable
We ALL work way too hard and pay too much in taxes for this to be happening, the fraud must be stopped.
Friend just had me look at her landscaping plan from a private equity owned landscaper: $202k
Sent her to a buddy who bid it at $44k
These roll-ups are long term doomed.
I predict the original owners will buy back for penny’s on the dollar.
These days everyone says they are a "value-add" buyer.
Almost nobody understands what the term actually means.
Let's start with what it does not mean.
Value-add does not mean random free money.
That does not exist at scale. It's not a business.
Sellers are not stupid.
Value-add does not mean buying a half-vacant building at an 8% cap and renting it out to get to a 16% cap and flipping it.
Those deals do not exist.
Value-add does not mean buying a property at a 6% cap and doubling everyone's rent to double your money.
Those deals do not exist at scale.
Looking for dumb lucks deals like that is not a business.
It's a fishing hobby that may reward you once every few years, but likely not.
The bottom-feeders of the real estate world are out of a job.
There is too much capital and too much information out there - and I don't know if this will ever change.
Value-add takes expertise, it's really really hard, and it's a total grind.
You need to know how to lease a space nobody else can figure out how to lease.
You need to know how to make the property appealing to tenants in a way the previous owner did not think of.
You need to create a co-tenancy that will increase foot traffic to the property.
You need to, well, here I will say it:
Actually create value.
That is what value-add means.
Really think turning college campuses into luxury resorts has done a double disservice to students. It burdens them with debt and acclimates them to a lifestyle they can’t maintain at 22 with an entry level job. So they get pissed twice over.
What is HAPPENING here?
Between 2012 and 2023, it appears that average OECD reading, math and science scores have declined consistently.
This is not (just) about pandemic learning loss. It’s not about one US city. It’s not even just the US. This is the entire developed world.