Floor 3

former tech co peddler current building guy

[Dr. Maalouf ‏ @realMaalouf]

TERRIFYING: Zohran Mamdani attended Friday prayers at a mosque where the imam literally called for the killing of infidels (non-Muslims).

This did not get enough attention.

[Moses Kagan @moseskagan]

Every regulation which decreases the forecast net operating income of proposed apartment buildings reduces the propensity of developers to add to supply.

[Geiger Capital @Geiger_Capital]

"We have room for but one language here, and that is the English language."

- Theodore Roosevelt
26th President of the United States

[Jon Matzner @MatznerJon]

(Warning: long rant)

BRAVO !

articulate, passionate, and (me thinks) totally talking about the wrong point!

I just read 1000 words from a smart guy about who’s to blame for what, who’s winning, who’s losing, and how millions of people are supposedly racing to one political side or another.

Here is what I DIDNT read.

A recognition that maybe just MAYBE…the problem isn’t that the wrong team is winning.

The problem is that we’ve created a system where politics touches EVERYTHING.

You want to know what’s really radicalizing?

It’s not liberal teachers or conservative activists.

It’s the fact that every aspect of our lives has become ABOUT POLITICS.

Crime rates, schools, healthcare decisions, what we can say at work, how businesses operate….everything runs through the political machine first.

POLITICS SHOULDNT BE THIS IMPORTANT.

Make Milton Friedman Great Again.

When government gets big enough to GIVE you everything you want, it gets big enough to TAKE everything you have.

Right now, government is so big that every election feels EXISTENTIAL because, well, it kind of is!

We’ve built a system where politicians ( or the left and right) promise to solve every problem and fix every injustice, and make every decision for us.

But that’s playing their game!

My friend Robert just eloquently wrote 1000 words treating politics like it’s the Super Bowl, complete with team allegiances, score-keeping, and commentary about who’s winning.

But you’re channeling righteous anger about real violence into… what?

More POLITICS….just wielded by your preferred team.

But why should there be such a massive apparatus in the first place?

When local prosecutors can unilaterally decide not to enforce laws, that’s not a left or right problem!

That’s a “what the fuck are doing giving so much power that’s to unaccountable officials” problem.

Crime isn’t a political issue!

Robert is mad that the “wrong” prosecutors and mayors are in charge.

But why do we have a system where individual prosecutors can nullify laws, or where mayors control police policy from city hall?

But now, let’s be PRESCRIPTIVE about an alternative.

Instead of fighting over WHO gets to pull the levers of power, maybe we should be asking WHY there are so many levers to begin with.

Want safer communities? Let people protect themselves and their property.

Leave business owners alone - not forced to follow asinine policies from EITHER side.

Want better schools?

Let parents choose where their kids go to school.

Let teachers teach without 🐂 and political mandates.

Want a functioning economy?

Get government out of the business of picking winners and losers. Stop subsidizing failure and penalizing success.

POLITICS IS THE LAST RESORT.

The best societies are ones where politics matters LEAST in daily life.

Where you can start a business, raise your kids, and live your life without constantly wondering what some dumbass politician or bureaucrat thinks about it.

We’ve built the opposite: a society where everything is political because everything requires political permission or a part of our brain to “consider the politics”. Then we wonder why elections feel so INTENSE.

Every minute you spend arguing about whether liberals or conservatives should control these systems is a minute you’re not questioning why these systems have so much control in the first place.

THe path forward is very very simple.

Stop trying to WIN the political game. Start trying to SHRINK it.

Every power we take away from government is one less thing that can be weaponized by whichever side you don’t like.

The goal should be to build an apparatus so small and limited that it doesn’t matter which team controls it.

Robert’s anger is real.

The problems Robert is describing are real.

But the response…. “political mobilization”…is exactly what got us here.

Stop trying to capture the state and start trying to make it matter less

[Brendan @verypiratey]

Monday. This moment.

[Notre Dame Football @NDFootball]

IRISH WIN THE 2025 ORANGE BOWL

#GoIrish

[Michael Huseby (Investment Fund Lawyer) @investing_law]

4 graphics explaining how investment fund distribution waterfalls actually work 🌊

1. European Waterfall
2. American Waterfall
3. Preferred Return
4. GP Catchup

Please share this thread 🧵 if you find this helpful 🙏

[Gordon Gekko @GordonGekko420]

Why you should care about the proposition of taxing unrealized gains even if you don't have $100m:

1. Every tax in US history has started "out of reach of the average man" and has been expanded to encompass everyone. ex: Income tax didn't even begin until 1913

more below

[Chris Hatch @Dirtdog]

Underwriting a potential fast food CRE building purchase.
A 🧵:

You are in the market looking for a passive income option in the world and you have heard of all of your really really cool friends talk about net lease retail being a hands off asset class and your hella jelly.

[᛭ Ian ᛭ @KnightspurHouse]

To the countless names we do not know,thank you.

[StripMallGuy @realEstateTrent]

Ugly building, no credit tenants:

The properties I love the most

Bought: $1.7M
Sold: $4.27M

Here's how it happened:

[Restructuring__ @Restructuring__]

BOFA FIG ASSOCIATE DEAD TODAY

“He served as a green beret officer for about a decade and then went through BofA’s Veteran Program last spring, placing out as an IB associate in FIG. 

His first M&A deal got announced this past Monday. It was a combo of a buyside M&A deal + lead left for a follow-on equity offering to support the transaction. Folks in his group said he was pulling 120 hrs / week for four weeks straight and drinking excessive amounts of energy drinks to stay awake. “

“Left behind a wife and a kid”

Absolutely tragic, guys remember this is just a job and at the end of the day, we’re all just moving money from / to the same companies / investors.

No worth deteriorating your health, let alone your life and family.

[BuccoCapital Bloke @buccocapital]

1. I’ve been lucky to work with some incredible people throughout my career

I’ve randomly posted the great advice they’ve shared, but thought it was worth consolidating them all

Maybe some folks will find these helpful. I certainly have…

[INVESTMENT HULK @INVESTMENTSHULK]

TAKE A MOMENT TO APPRECIATE HOW LUCKY YOU ARE TO EXIST ON THE TIMELINE WHERE THE UFC IS A HOTBED OF AUSTRIAN ECONOMIC THOUGHT.

[Miscounted Cash Flow @Miscountedcf]

You know shits all fucked up when you find yourself writing out the excel formula on paper

[High Yield Harry @HighyieldHarry]

Having officers visible and present is important given how shitty the subway is getting. This is just a sign there’s nothing bad going on which I’ll happily accept. But it’s fanciful to think the Subway hasn’t gone to shit and a presence isn’t needed.

NYC is LT doomed because eventually Brooklyn ppl will outvote “moderate” Adams candidates and we’ll get even worse policies. Last election, Adams looked reasonable compared to the other options, so just imagine how much worse it could get.

[Floor 3 @floor3___]

@mronge @Astropad Deleted the original post b/c the support team was able to help me fix my problem and quickly!

[The Real Estate God @TheRealEstateG6]

One of the biggest places beginners get tripped up is the property tour. They don’t know what to look for and they don’t know what anything costs

Here’s what to look for when touring a property so you can accurately price the renovation costs:

Generally a reno for a Class C 1-bed unit costs me $15k-$20k

Below are the items I focus on when touring to maximize rent & minimize cost

You should think about the property in the 3 categories outlined below
1. Bathroom (~$5k)
2. Kitchen (~$8k, grouping in all appliances & materials)
3. Floors/Paint/Other (~$2k)

Bathroom 
1. Shower/Tub: What’s there right now? Do you have to rip everything out or can you reglaze or tile over? Does the shower valve & fixture need replacing? Will you tile the shower or install an acrylic shell? [Redo costs can run you between $250 & $2.5k]
2. Floor: Are you going to tile the bathroom or run LVP? Can you run the LVP over what’s there now? [LVP runs you ~$5/SF & tile $7-15/SF]
3. Toilet/vanity/mirror/lights: Do you need new ones? [Price materials online, labor should be minimal (~$50-100/item)]
4. Extras: Do you want to add something to increase longevity or attractiveness? Embellish walls (tile, shiplap, wainscoting), shower niche, sliding glass shower door, stone countertop, shower ledge [costs can get out of control. Avoid this by looking at market rent comps. Only renovate to that scope. Additional renos won’t get you higher rent]

Kitchen
1. Cabinets: Do you like the layout of the kitchen? If so, can you refinish & reuse the cabinets? If not, can you just buy new doors for the cabinets? [Even just sanding & painting cabinets can cost $1k. Going new is usually the move unless you really don’t need to change anything. New cabinetry will probably run you $2k-$4k with installation]
2. Countertop: Can you keep the countertop? If you replace, will you use laminate or stone? Will you use a counter lip, tile backsplash, or both? [Countertop costs ~$35/SF on laminate & ~$50/SF+ for stone with installation]
3. Appliances: Can you reuse any appliances? Will you add a dishwasher? [Can get a decent one for ~$1k]
4. Floors: Are you going to tile the kitchen floor or run the LVP? [Same as above, ~$5/SF for LVP with labor]
5. Lighting: Do you need new lighting under the cabinets, overhead track lights, or pendants over an island/counter? [Can do for $250-500 all-in. Just don’t small-talk the electrician]
6. Extras: Removing the wall for an open floor plan kitchen, gooseneck faucet, barn sink, garbage disposal, under mount sink, glass door cabinets, butcher block counter, etc. [Keep original scope & only upgrade the kitchen as needed]

Floors/Paint/Other 
1. Floors: What type of floor is in place? Do you want it? Is it hardwood & if so does it make sense to refinish? Can you go over the floor with LVP (difficult but possible with carpet)? Do you want carpet in the bedrooms? What quality LVP will you use? [Refinishing the floor will run you ~$4/SF]

2. Paint: Do you want to repaint the unit? Do you have to repaint the ceiling? [Paint is cheap, but the labor adds up. All-in this can cost $1k-2k for a 600 SF unit]
3. Other: Can you add a washer dryer in the unit? Can you add an extra bedroom? Does the unit need new doors, lighting fixtures throughout, windows, doorknobs, closet shelves, blinds, partitions, etc. [Try to include all these smaller items in the initial scope]

That’s mostly it

In terms of items that actually meaningfully move the needle for asking rent, look at adding a bedroom (~$2.5k), washer/dryer (~$3k), or dishwasher (~$1k)

Lastly, there are few single places where you can save large chunks of money - a successful renovation scope & execution is achieved by making over a hundred good small decisions

I’m hosting a free live training on 2/27 showing how I turned $800k to $4.1MM in just 22 months with one deal

Will be going over the entire process step-by-step & you can ask any questions you want

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