The largest commercial real estate data firm (CoStar) just bought the largest homebuilding/new construction data firm (Zonda)
Why it matters...
My latest for @ResidentialClub
https://t.co/iikzpoULpO
Fun week in the RE investing world. Bought 2 duplexes last month. Appraisal came back today $71k higher than estimated.
Signed docs for a closing for a SF home today to close tomorrow. Appraisal came in $30k higher than estimated.
Now just need to execute on renovations!
Underrated life advice: Have more hobbies and fewer opinions. Learn an instrument. Plant a garden. Build something with your hands. Cook. Paint. Run. The happiest people I know spend less time debating life and more time actually living it.
I’d like to give Brandon Turner sincere credit for this post on IG.
He fully owned up to the loss of LP capital publicly.
Explained his responsibility, which is the most important, along with the market factors the affected the downfall of this deal.
This is exactly how a sponsor should transparently communicate when something like this happens.
It doesn’t make the loss of capital easier, but I have true respect for people that take ownership.
The guru class has butchered the handling of their errors over the past 5 years.
Brandon is the first one I’ve seen to step forward and address it.
Credit where credit is due.
Bravo.
Frank Zappa's daughter is selling her home, which once belonged to actor Christopher Lloyd (Doc Brown from Back to the Future).
1920s Spanish architecture. 3 bd, 3 bath. 3.4k sq feet for $2.8M (will prob go for more). 742 N Sycamore Ave in Los Angeles.
Dream Finders makes third bid to buy Beazer and become America's 6th largest homebuilder. Beazer already rejected it
@Dream_Finders' bid: $25.75 per-share
@BeazerHomes says its book value is $41.83 per share
My latest for @ResidentialClub: https://t.co/oJg74xDvtT
New deal signed:
Single family home
2/1
909 sqft
.17 acres
PP $70k (wanted to negotiate lower but decided to give them what they wanted instead of getting cute and losing it)
Renovations $45k
ARV: $160k
Will likely hold this one as a BRRRR. Gonna breakeven but solid upside.
Choose your words carefully. The way you talk about your life shapes how you experience it. Call everything stressful, & it'll feel that way. Over time, the way you speak becomes the way you think. The way you think becomes the way you act. And the way you act becomes your life.
Listing a property today from a seller I started speaking with 6 years ago on this exact property!
This isn’t a get rich quick business.
It’s all about building relationships and massive delayed gratification.
A friend of mine used to say: “Show up on time, with a good attitude, and do what you said you’d do. That’s it. That’s 90% of winning in life." The older I get, the more I realize just how right he was.