Devin Baker

Houston Real Estate • Land/Development/Housing

[James Choi @JC_Investment]

Another soft landing hopes, but hard landing reality. History repeats itself.

[Texas Rangers @Rangers]

THE TEXAS RANGERS ARE WORLD SERIES CHAMPIONS!

[Joe Pompliano @JoePompliano]

Kelvin Kiptum set a new world record marathon time today at 2:00:35.

That’s a 4:36/mile pace…for 26.2 miles — and he beat Eliud Kipchoge’s previous record by 34 seconds.

He is only 23 years old!

That’s one of the greatest athletic achievements ever.

[Devin Baker @elduderino53]

Next up…requiring cyclists to get their registrations to share the road!

https://t.co/k76VDj3gzy

[Devin Baker @elduderino53]

“Early 2021, the Fed said inflation was transitory... Similarly, the Fed told us they expected the Fed funds rate to be 0.625% YE23, that’s a bit low since it’s now 5.375%. Now the Fed is saying higher for longer. Take that with a grain of salt.”

https://t.co/6KE3Zdd7h8

[Devin Baker @elduderino53]

Takeaway: Real estate is fun and real estate is scary. Learn from my mistake and make informed choices with the right team on your side. Would love to hear thoughts and similar experiences below….

[Devin Baker @elduderino53]

#CRE will always humble you and prove to you there is more to learn…..

- 07/2019: Joined a six-member partnership to secure interest in a multi-phase apartment.
- 12/2021: Refi opportunity came; cashed-out some equity, combined the multiple phases into one. All parties....

[Devin Baker @elduderino53]

Key Lessons:
- No matter how much experience you have, ask more of the right questions upfront
- Do not be afraid to say no or hit pause
- Have the right team in your corner. The right CPA and attorney would have realized the original oversight of failing to file a 754 election.

[Devin Baker @elduderino53]

🔑 Key Lesson: Always put together a team that represents YOUR interests. Even though the others involved were not intentionally misleading, the oversight of not filing a 754 election back in 2019 proved costly. A solution and a fresh CPA engagement search are both underway.

[Devin Baker @elduderino53]

📅 Spring 2023: Reality struck with the issuance my K-1 statement, reflecting a negative $500K capital account Unbeknownst to me, I inherited this half a million in losses and depreciation from the previous investor, resulting in a potential six-figure liability...

[Devin Baker @elduderino53]

"People do not decide their futures, they decide their habits and their habits decide their futures." -FM Alexander

Your present is a result of your actions in the past. Your future is a result of your actions in the present.

Small things become big things.

-@SahilBloom

[Lance Lambert @NewsLambert]

IF U.S. incomes spiked 69%, we'd return to pre-pandemic housing affordability levels.

IF U.S. home prices fell 41%, we'd return to pre-pandemic affordability.

IF mortgage rates fell 4.3 percentage points (from 7.26% to 2.96%), we'd return to pre-pandemic affordability.

[Dan Go @CoachDanGo]

When an athlete is told to run at 85% they run faster than if they're told to run at 100%.

It's called the 85% rule and here's why it works:

Carl Lewis was a 9 time Olympic gold medalist who was known as a master finisher but a slow starter.

He began races 2nd to last but usually ended up finishing first.

It became known that he's wasn't performing at full throttle.

He was going at 85% the whole time.

Why 85%?

When you have your best performances it's never when you're trying your hardest.

Instead the task usually feels easy & effortless.

Going at 85% is a mindset about relaxation & performing at a high level while being in flow.

It's about pacing, form & finishing.

At 85% you're not striving or straining by operating at the very limit of your ability.

You have room to think, focus & adapt.

Applying the 85% rule helps you balance intensity while being focused & relaxed.

Here's a few example of how to do it:

At work:

Instead of going full throttle, take your time, release the pressure & focus.

Put an emphasis on optimizing your systems & adopt a mentality of expending 85% of your mental energy towards a task.

Your perception of energy is the biggest component to your productivity.

In your diet:

Instead of trying to be perfect aim to get 85% of your food choices right.

This takes the pressure off of you and gets you away from an "all or nothing" mindset.

You want to be adaptable to any situation and hitting 85% is enough to get your body in shape.

In your workouts:

Instead of going to failure for every exercise aim for 85% intensity so you can focus on good form & keep your body injury free.

We have a rule to keep 1-2 reps in the tank when lifting and this fits perfectly into it.

Keys to the 85% rule:

1) Relax
2) Focus on form
3) Set your mind to 85% intensity
4) Work just below your maximum threshold
5) Stop when you feel close to 100% of your mental/physical capacity

Instead of putting the pressure by trying to go 100 aim for 85% instead.

Doing so might help you unlock new levels of performance.