Jonathan Grzyb (“Gribb”)

Real estate executive with investing and general management experience scaling institutional multifamily and single family rental portfolios and operations.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@ryanfreedman_ Your post popped up as I’m sitting in a 20th floor watching a traditional window washer thinking how scared shitless I’d be doing that- crazy it’s taken this long…

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@bhargreaves Amen!

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@Slackwatercap Great summary.

[SMB Attorney @SMB_Attorney]

I lost my blue checkmark.

While it’s gone, let’s do an experiment and see how much it matters:

Like, comment and/or retweet and let’s see how how many impressions this gets relative to my follower count.

Go!

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@Lawyer4Deals You’re an animal!

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@DanielSLoeb1 I’ve learned a ton from @TheLeanGuy - an amazing coach / advisor

[Jay Parsons @jayparsons]

America, we have a problem. According to the government's own data, individual homebuyers have outmuscled investors over the last eight years-- gaining market share and pushing up the homeownership rate to some of the highest levels in history outside of the bubble / GFC years.

And yet we have a shortage of for-sale homes, driving up prices.

So, naturally, we need a villain. A boogeyman.

Can't blame individual buyers who own more homes today than ever and whose market share is near record highs. That won't be popular.

Can't blame small local investors who own >95% of single-family rentals. That won't be popular.

So here's an idea. Let's zoom in on that tiny sliver on the charts showing ~3% of single-family rentals owned by large investors.

And even though this is a diverse group including publicly traded REITs based outside New York, let's use terms like "hedge funds" and "Wall Street" to paint a scarier sounding villain character.

And instead of looking at acquisitions AND dispositions to show net flows often negative for investors since 2016, let's mislead people by looking at just acquisitions.

And let's definitely not mention the facts from academic studies showing how rentals help diversify exclusive neighborhoods with renters who couldn't otherwise afford to buy there. Or how studies have shown rents in neighborhoods where investors are limited have risen more than those that didn't have such limitations. Or how some investors have rehabbed old crumbling houses into better shape, with many flipped back to individual buyers. Instead let's pick a few isolated anecdotes of "landlords" behaving badly. Easy.

(BTW kudos to the WSJ for mentioning many of these facts and taking a balanced approached to story. My comments are directed toward those in power who continually spread these myths, not the article.)

Facts are distracting. Facts don't help sell the boogeyman narrative.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@jefielding Any military experience across the 12?

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@ClintFiore My 9 y/o is thriving in competitive acro- it’s given her confidence that I didn’t realize she had and is teaching her a lot about teamwork, work ethic, and commitment. It’s been totally worth it for us.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@pinpulleddrmf @ChandlerReedSMB My heart rate goes up just looking at that thing.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@hitsamty Yikes. Repatriating their $11M note and jamming the LPs down into a riskier position in the stack with more $$ at risk. Using the word “alignment” in the doc is ridiculously ironic.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@MarginCFO High output management (Andy grove) or The Advantage (lencioni).

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@alexdanilo99 @realEstateTrent Good one ☝️

[Brian Sullivan @SullyCNBC]

I think I I have a pretty unique view on the pandemic and inflation.

Why?

Because I never stopped traveling.

I got Covid in June 2020. Was awful. 104 temp for two days. Hit me while driving to Wisconsin. Slept in the car at one point. Didn’t announce it on air because what’s the point. Anyway…

After that I went to or through 21 states in 2 years. We covered important stories and the election by flying with massive safety protocols and driving alone. At one point I was one of 3 people on a plane. Did 3,500 miles over the election in a car solo (by the way, nailed it in our coverage on @CNBC about counties that could flip. I think we got 4 of 5 correct).

I found that much of America didn’t shut down. Restaurants and bars packed. Many still going to offices. Florida had 2 hour waits at some restaurants in early ‘21. Car sales soared. Housing too.

Personal note: I would get home from a trip and my wife would send me to the basement for a week to keep the family safe (thank you home TV studio and the network caring). I probably took 100 PCR tests.

Yet the government kept stimulating the entire time as if everyone was in the same lockdown mode as DC, NYC or LA. Free money everywhere. New cars lined the roads. People bought boats off of PPP loans. Clearly fraud was rampant.

I get they couldn’t target the stimulus by region. And it’s not a judgment on protocols or reaction to the awful pandemic. It’s merely what I saw on the road (along with my brave and great crews .. they would say the same).

Much of that money saved businesses that would have gone under. I commend DC for quick and decisive action. Bipartisan urgent reaction was needed.

But to throw trillions randomly at an entire economy when half the nation never stoped operating at full steam was certainly going to have long lasting impacts.

And here we are.

Inflation will remain hot for a while.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@ClintFiore Go @KHendersonCo - well deserved.

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@ClintFiore Great share @ClintFiore

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@girdley This is me….but I’ve never heard it described so clearly- going fishing, running, biking, golfing, walking, hiking, skiing, etc etc etc - sign me up! Small group dinner with interesting people- love it! Large event with lots of small talk- no thanks.

[Bruce Marks, MBA, CM&AA @sbabmarks]

WSS: Question - Does it matter if it is a stock sale or asset sale?

Bruce, can we talk about asset allocation in a SMB Acquisition Transaction?

What might be the tax consequences and should I be allocating for this?

I'm glad you are considering these issues.

Ready, set, go!

[Jonathan Grzyb (“Gribb”) @jongrzyb]

Never underestimate credibility- @sbabmarks has built a reputation of credibility that precedes him. He is a man of his word and does what he said he’d do. In our case it was getting a big pari passu loan thru commitment last week. Thank you Bruce!!

[Jonathan Grzyb (“Gribb”) @jongrzyb]

@Lawyer4Deals Yes! I like this better.