Eli Dragon

Texas Graduate | Mostly Real Estate | Perpetually Curious

[Eli Dragon @eliastdragon]

@TexasDoughnut_ I’ve been trying to convince many friends of this for years.

Another point I always raise is timing - the smaller, local project is more likely to complete its project life cycle in a fraction of the larger, institutional project.

[Eli Dragon @eliastdragon]

@JohnPetersonFW @TateHorsford Or if you have the means you can do both.

Go ahead and take the time to seek entitlements and plat it as aggressively (as many lots) as possible then do nothing and sit on it. When you’re ready to move on you’ve already created massive value for yourself.

[Eli Dragon @eliastdragon]

Net margin of 13% that includes a third party GC fee seems extremely healthy in the current operating environment.

Most Builders in DF/W are happy right now with a 8 - 10% net margin and they self manage the project.

GC fee is probably another 5 - 8% of the sales price? So actual net margins of high-teens?

What am I missing here?

[Eli Dragon @eliastdragon]

@bgurley @BlackLabelAdvsr Not my cup of tea but agreed to each their own. There’s a cohort that wants a low(er) maintenance house with lots of space. Makes sense.

[Eli Dragon @eliastdragon]

Are Dubai chocolate and peptides strictly American FOTM? Or a broader trend world wide?

[Eli Dragon @eliastdragon]

Well known spin off of Lennar with (relatively) cheap cost of capital for large production builders. Usually require something like 15% earnest money and 12% interest.

It's all so the large public production builders can continue to be 'asset light' while maintaining control of a lot pipeline. Anything above 20% invested of the final lot price and they have to consolidate on their books.

So this allows them to maintain control of a lot of lots and it doesn't show up on their balance sheet. In theory they could walk away from their earnest money and these lots if things got bad, but obviously would be blowing up relationships.

[Eli Dragon @eliastdragon]

@PerrySolem @mhp_guy That is basically the area that filters into Plano High West. Certainly a nice area and a great location but neither of these things is true. Property tax rate is low 2.00%. Property values range from $700k up five or take.

[Eli Dragon @eliastdragon]

@MarkAllenMulti Are LPs looking at the stabilized gas on cash and they’re taking on the brain damage for long term holds? Or just looking at the value add opportunity to step into broken properties, turn them, and dispose in 3 - 5?

[Eli Dragon @eliastdragon]

Saw a woman stranded on the service road 50 yards from a gas station… out of gas. Before I could park and jog her way to help push, THREE people beat me to it and already had it handled.

A little faith in humanity restored. Only in Texas.

[Eli Dragon @eliastdragon]

RIP my bracket. It was nice while it lasted.

[Eli Dragon @eliastdragon]

@JesseTayRiver @steffenjade Sort of makes it all the more impressive to me.

[Eli Dragon @eliastdragon]

@JesseTayRiver @steffenjade I have no idea how this came across my algo, but 6 - 10 yogurts a day?! Just a way to hit the sweet tooth? Or something more behind that?

[Eli Dragon @eliastdragon]

@sciencegirl @grok review all respondents and make sure I don’t follow anyone that responded above a 5.

[Eli Dragon @eliastdragon]

@ChrisDeMuthJr @NiohBerg Would be great to be able to safely visit the cradle of civilization - Persepolis, Pasargadae, etc. - one day.

[Eli Dragon @eliastdragon]

How many other gold medals is the equivalent of one men's hockey gold medal?

10 feels about right to me right now.

[Eli Dragon @eliastdragon]

You will never be as mad as a toddler who was just told she can not wear her dirty outdoor shoes inside.

I swear I saw her starting to turn green.

[Eli Dragon @eliastdragon]

@The_Dug_0ut @akm515 This has to be engagement farming because actual full-time daycare expense is close to 50% higher. Perhaps part-time, a few days a week is closer to that number.

That also isn't a Frisco-specific issue. Childcare is expensive. Yet we all make it work.

[Eli Dragon @eliastdragon]

They really left Texas out of the CFBP for these two schedule merchants?

[Eli Dragon @eliastdragon]

1. First team with 3 Top 10 wins since 2019 LSU.
2. Losses against #1, #2, and Florida - ALL away.
3. By far the strongest SOS for anyone ranked.

If you're going to hold Texas back because of a loss to Florida then you should use the same logic on Alabama for a loss to Florida State - who Florida beat.

[Eli Dragon @eliastdragon]

Texas over Alabama in the playoffs just makes sense.

Texas with losses to the #1 and #2 teams in the country and are being unfairly punished for their schedule.