@DDrolapas Was interesting when PT lost its street in like ‘17 in a city auction. Some investors in the South Bay bought the street and even tried to charge for parking on the circle. I think it was eventually all reversed, but nightmare for owners in PT for a while.
@Camp4 Great, easy calculator! Thanks for building this!
Savings on Mortgage interest, RE tax deductions (ex: in CA), etc... might make the “theoretical ownership cost” lower in the calculator.
@JWurzak This makes me think of the St Regis Hanelei / Princeville that Starwood kept back from the Marriott transaction and now is a 1 Hotel Princeville. Likely not possible to recreate.
@MRossG199@hybridvigorish It gets worse when they say they can “get around” providing clear ROI when software could be attributed to the fund level and spread across properties. Man this is awful.
Yearly reminder: If you have enough to eat, a warm place to sleep, are fairly healthy, and can pay your bills handily...you are one of the luckiest humans alive.
The rest is just details.
There is so much to be grateful for - have a wonderful Thanksgiving.
@recostseg Great thread!
One challenge is state laws. Ex: CA doesn’t abide by TCJA.
Are you familiar with how this affects fed returns for directly owned RE with states that don’t accept Bonus Depreciation?
Think this acts differently for K-1 partnerships.
@fortworthchris@MikeArrieta What’s it like now being a father and trying to build a business in a new industry?
Particularly after being single building a career at such larger companies.