John Anderson

micro family office….recovering asset based lender…former SVP national apartment portfolio

[John Anderson @JayayInLA]

Try some gold miners: little or no debt, tech-like gross margins, very tough to increase supply, sale price of the product going to keep rising as the central banks around the world are buying tons of the stuff as that product is going to replace the U.S. Treasury bill as the preferred asset in the world. No counterparty risk.

[John Anderson @JayayInLA]

@porterstansb @threadreader unroll

[John Anderson @JayayInLA]

@Alvin1492840 @threadreader unroll

[John Anderson @JayayInLA]

Hi Jeff. I live in Torrance, California. We moved here 35 years ago from Northern California. The youth soccer movement started here in Torrance at the middle school two blocks away in the late 1970’s. My kids played. I refereed for many years up to the U18 level. My older son still plays in Australia on club teams. The Yank has been the MVP of the team and top scorer for several years. Hey, it’s a new game here. England has been playing football since they blew air into pig’s bladders and kicked it from town to town.

In the last 30 years we’ve built, from scratch, a 20-team professional league, many dedicated soccer stadiums, had women’s teams win the World Cup and have 7-8 million kids 8-18 playing in the U.S. A couple of world cups ago we had zero players who played in Europe. This year we have 17 who currently play in Europe. And soccer is not our most populous sport. Given the trend, what do you think it might look like in another 30 years?

[John Anderson @JayayInLA]

Most all the replies have some degree of validity. Yes, youth soccer is expensive and our best athletes play other sports. But look at the trend: l live in Torrance, CA where the youth soccer movement in this country started about 40 years ago. There was zero soccer in this country at the time. In 30 years we have come from zero to a professional soccer league with 20 teams. Our women’s team has won the World Cup. Soccer is extremely accessible most everywhere in the county. Chat GPT say 7-8 million kids 6-19 play organized soccer in the U.S. We are a country with 300 or so million people. A few world cups ago none of our players played for European clubs. This year I think I read we had 17 players playing in Europe. Based on the trends, the future looks pretty good. I have 43 year old son who played club soccer in Southern California. His team won the League Cup in the Premier Division of the Coast Soccer League when he played U-19. He is a striker. He plays to this day, for clubs in Australia. He has been voted the MVP of his team 4 or 5 times and has been the league leading scorer more than once. Have some patience. The trend is our friend.

[John Anderson @JayayInLA]

@simon_ree Nice looking family, by the way.

[John Anderson @JayayInLA]

@simon_ree Looks great, Simon. Isn’t northern Italy great! My wife and I did a driving tour of South Tyrol (the Dolomites) a few years ago. Fantastic. Thanks for all you do. I look forward to the email from you every morning . You hit what’s really important to think about for the day.

[Contrarian Thinking @Contrarian]

It’s July 4, 1776.

A room full of entrepreneurs signs the Declaration of Independence.
Hancock. Franklin. Washington. Adams.
Shipping. Media. Agriculture. Brewing.
Owners, every one of them.
They didn't fight for the freedom to clock in somewhere.
They fought for the freedom to build something.

That spirit is what our country was built on.
Happy Independence Day.

They didn't wait for permission to build something. Neither should you.

[John Anderson @JayayInLA]

@KingKong9888 My experience has been the same, Eric. Thanks for all you do.

[John Anderson @JayayInLA]

@CultureExploreX When Palos Verdes was developed it was the first community in the US with architectural restrictions. In general, all houses were to be single story and painted white. Roofs were pitched and used tile for roofing. It remains a spectacular place to live.

[John Anderson @JayayInLA]

@TracesofTexas I grew up in Dallas with chiggers. Moved to CA at 13. The people moving from CA to Texas don’t know what they’re in for.

[John Anderson @JayayInLA]

The bank cannot ask for more security as long as the borrower is meeting his responsibilities under the loan covenants. If the borrower fails to meet the covenants the loan can be declared in default and the bank can take steps to realize on the collateral. If the borrower asks for loan reinstatement, the bank can ask for anything it wants, including more collateral, to feel secure and reinstate the loan. It’s a free-for-all after default. The little guy, an owner of a few investment properties, has little leverage. In Australia, as I understand it, real estate loans are recourse loans, meaning that if the borrower defaults, and the bank forecloses and sells the property for less than the loan amount, the bank can come after the borrower and his personal assets for the deficiency. This is a huge club the lender has over the borrower. You don’t want a bank or its loan collectors coming after you for years.

[John Anderson @JayayInLA]

@MarioNawfal Here in L.A. there is a large Persian community that has a big presence in the local real estate scene. I’m told that when dealing with Persians the real negotiations start after the contract is signed.

[John Anderson @JayayInLA]

@KingKong9888 Hi Eric. I’m a big follower.. Your stuff is really good. Thanks for all you do.

[John Anderson @JayayInLA]

@VolSignals @@threadreaderapp unroll

[John Anderson @JayayInLA]

This is a great series. I have been both a non-bank commercial lender and later a borrower on a portfolio of over 30 medium to large apartment properties. Shlomo is correct: workouts are long and detailed, unglamorous, and expensive. You have to pay attention to every sentence in the loan docs. Personal recourse is brutal when the lender comes after you. Very few people consider the impact of recourse loans. Lenders in the end will have collection companies come after you and they are nasty.

[John Anderson @JayayInLA]

Hard to say why, Don. I was in my 20’s then. That music came out of nowhere. The dagger in the heart, I think, was the reality of Vietnam. The courageous American experience died in the realty of the real CIA, the incompetent politicians. But in the end, you’re right: You had to experience it.

[John Anderson @JayayInLA]

@Rainmaker1973 1960

[John Anderson @JayayInLA]

Great thoughts, Ben. Good remarks as well. @rameswar’s comment is germane as well: it’s a lifestyle shift and it is liberating. Now you are 100% responsible. You are not dependent on a paycheck. You get many paychecks every time someone buys your service. You eat what you kill, very simple. But you have to show up. No more paid sick days.

[John Anderson @JayayInLA]

I’m a Boomer. We didn’t cause the problem. We just bought houses before the forces caused by government stupidity set in: inflation, bailouts, money printing, easy mortgage credit and 2.5% interest rates. I paid 10% or so for my first mortgage and only only one income could be used to qualify for the mortgage. The Boomers were not in power when the seeds of the crisis were sown: Reagan’s tax act, LBJ’s largesse, I don’t think the average Boomer was responsible for the Wall Street bailouts in the GFC. Wall St. boomers, maybe, but that’s more Wall St. than the average working guy Boomer. Nobody asked me who to bail out. That said, as Theil suggests, the only answer is more housing. In a city like mine (Los Angeles) the answer is higher density and building up. Santiago Chile is a beautiful city where the predominant recently built housing are attractive mid-rise condos. We can do that. Will Boomers fight it? I don’t think so. We want housing for our kids like everyone else. What Boomer do you know who doesn’t want reasonable housing for their kids?