ex sbc

One of the ladies. I’m lurkin, learnin

[ex sbc @freecathflow]

@jasonmiller15 Sorry just realizing that was aspen only I agree. I worry ab everything else

[ex sbc @freecathflow]

@jasonmiller15 Do you really think these can go for a sub 6 cap?? The fungibility and rent covg concerns me.. and only getting 100-200bps wider than those Napa/edina deals w/ a 4.5 10y & a way shittier capital position? I feel like no one would touch these unless pulling something closer to 8

[ex sbc @freecathflow]

@slapshotcapital Mr. Gorbachev tear down this wall (between the interior designer trade channel and DTC)

[ex sbc @freecathflow]

What if we…didn’t quote Reagan in the shareholder letter?

[ex sbc @freecathflow]

REITs baby

[Ted @TedPillows]

Stocks are dumping.
Gold is dumping.
Silver is dumping.
Crypto is dumping.
Bonds are dumping.
Even Oil is dumping.

If everything is dumping, where the hell is money going?

[ex sbc @freecathflow]

Takeaway from this week: I will always love reits. real assets are sick

[ex sbc @freecathflow]

Sometimes I’m like I cud live her

[Chairlift Capital @ChairliftCap]

Feeling like this again

[ex sbc @freecathflow]

Keep the faith

[Hooman @hoomansv]

Happy $AMZN earnings day to those who celebrate

[ex sbc @freecathflow]

Eh. thesis drift

[ex sbc @freecathflow]

$lulu maybe interesting at $150. Maybe.

[ex sbc @freecathflow]

another day another $0.01 FFO beat vs. cons

[ex sbc @freecathflow]

@taobanker I think you have some time

[ex sbc @freecathflow]

@griffonomics @SayNoToTrading @stonksurfer69 How are mattresses a dying industry? What do you sleep on?

[ex sbc @freecathflow]

At least deo is green

[ex sbc @freecathflow]

@taobanker Welcome

[ex sbc @freecathflow]

@grok Jokes on you I’m just gonna ask Gemini

[ex sbc @freecathflow]

Why am I no longer on dark mode on x can someone help

[ex sbc @freecathflow]

Yes

[Robbie Hendricks @robbiehendricks]

Not a popular take, but I think active real estate investing and operating is wildly difficult and should only be undertaken if you have (multiple) competitive advantages and skillsets.

Needs to be some combination of:

Natural Leadership
Ability & Willingness to Build Systems
Submarket Mastery
Operational Experience
Access to Capital
Great Partners and/or Staff
Long Time Horizon

As such, IMO most people shouldn’t touch real estate outside of a single family home or two in their back yard. Maybe a duplex or two.

You shouldn’t casually buy apartment buildings or strip malls or small bay industrial. These things are a business. And you’ll get shaken out quick unless you’re ready to run it like one.

Now if you buy a couple small houses and think, “hey, I freaking love this and would love to make a career out of it”. That’s great. Go buy a 4-8 unit and see how it feels. I’m all for giving it a shot.

Just don’t romanticize it.

I’m 13 years in and, while it’s been incredibly rewarding, it is still a difficult business that requires active “in the office daily” management.