@realEstateTrent Love this. I met @greeninvests_ on this very app in 2015. So crazy to think a tweet blessed me with my husband and now our handsome baby boy. ๐
Not sure normies understand how disastrous this is for the developer, so let me explain:
At this stage in the process, all of the capital budgeted to build this apartment building has been drawn down and spent.
This means that, in addition to having pay carrying costs (property tax, insurance, security, etc.) for this empty building, the developer is *also* paying interest on *all* the money to build it.
Because the developer gets paid last (after the contractor, the construction lender and the equity investors), very likely this delay means this developer will make $0 for all his work building this thing.
Let me ask you two questions:
1. If you took an enormous financial risk personally, convinced a whole bunch of your closest contacts to go in with you, worked for 3-4 years, and then made $0, would you do this ever again?
and
2. If developers like this won't build again, how are we going to get the housing we need?
Final steps to go: lighting and landscaping.
Hereโs a before and after of our latest project. @greeninvests_ and I took on a vintage throwaway.
Building had been vacant since around 1996, then heavily damaged in Hurricane Harvey. Basically left to rot. Roughly 9,000 sqft converted to vertical mixed use.
Know a small business looking for a space on the south Texas coast? Message me! ๐
Financial problems are among the leading causes of divorce.
Spending $100k on a wedding just as youโre starting your lives together will likely lead to financial problems.
Looking at it rationally, itโs a simple decision.
Letโs normalize casual, simple weddings.
My wife's cousin and his fiancรฉ visited us earlier today.
He's 26, she's 25, and they shared their weddings plans with us.
Big guest count, expensive venue. I started to wonder how they can afford it, so I asked what it will cost:
$100k.
I was shocked. I am not yet sure if