Just Julio

I farm | I wrench | #2A | Cyclones | Cubs | Proverbs 10:5 | Make a way or make an excuse

[Just Julio @julio4cy]

@steveconaway1 When you say “substantial increase” what was the % gain over the original purchase price? Thanks for the story, I see some of this too.

[Just Julio @julio4cy]

@_TheMizzouTiger Who are they?

[Just Julio @julio4cy]

@tmonteIH Same here. Sometimes dad is frustrating. Just glad he’s still here. Shows up and enjoys the work too!

[Just Julio @julio4cy]

@PlsntVlyFarmer Sleeper tractor.

[Just Julio @julio4cy]

Mr. BRRRR was playing with fire from the beginning. Bigger fire, more burned. Some people need to get back to Mr. Buffets scorecard.

[Chad Griffiths @ChadGriffiths]

Here is why this Brandon Turner situation pissed me off so much.

My issue isn’t that a real estate deal went bad. Anyone investing long enough will eventually make mistakes.

It’s that someone with enormous influence appeared to package speculation as wisdom and unsophisticated investors trusted that influence without fully understanding the risks.

Buying an apartment building at a sub 3 cap rate with adjustable rate debt was an aggressive bet that only worked if conditions stayed perfect.

And not understanding rate was equally as egregious.

As one person here said "Just my $.02 but if a GP is very communicative and 100% honest, and then admits that they didn’t understand how a rate cap works, that’s gonna make me feel worse than if they had just stolen the money."

People weren’t just investing in a deal. They were investing in the belief that a trusted public figure was acting in their best interests and applying prudent risk management.

Influence carries responsibility. When you build a massive audience teaching people how to invest, you should be held to a higher standard than “sometimes deals don’t work out.”

There are great GPs out there who are great operators, but perhaps not great promoters.

Figure out who you want to invest in because you'll rarely find a GP who is both.

Ultimately there are 2 things which I hope resonate long after the dust settles on this:

1. A LP is risking 100% of their capital. This needs to be emphasized to every single investor, especially the ones who may not have the financial savvy of more experienced investors
2. It's very, very difficult - if not outright impossible (unless you're a guru/grifter) to get rich quick in real estate. It is a long, patient journey which involves fully understanding your downside risk.

And to all the grifter/gurus here who are either defending or downplaying this reckless destruction of 15M of investor capital:

Do better.

Stop treating catastrophic losses like they’re just part of the content cycle.

Real people trusted these operators with years of savings, retirement capital and financial security. That deserves accountability, not spin.

And keep the memes coming (one more in the comments).

[Just Julio @julio4cy]

@clintwfischer Bonus points if the previous owner has been dead for over half a century.

[Just Julio @julio4cy]

@TorkWhisler About became a statistic with a bailer one night.

[Just Julio @julio4cy]

History doesn’t repeat, but it sure does rhyme.

[Degenerative Agriculture Advisor @PlsntVlyFarmer]

This getting old. We need to get some crops up and growing.

[Just Julio @julio4cy]

@CBKimbrell I came to the same conclusion, except it was the feedlot owners son helped me to see.

[Just Julio @julio4cy]

@sippingsuds Was it the flying around and spending money like water or telling the world how he practically did it single handedly? Blocked him years ago the only way I could get him off my feed.

[Just Julio @julio4cy]

@silagechopper At least it’s not a sound guard!

[Just Julio @julio4cy]

@Iowacrops Jews pretty low, gotta pump those numbers up to know you’re doing the Lords work.

[Just Julio @julio4cy]

“In the cloud” means someone else’s computer. Think they can’t harvest your harvest records? Please.

[Brady @BradyD78]

What if we are heading down a path where all the big Ag companies and trading firms will have access to our data (planted acres, yields, etc) through the technology on our machines except farmers. Farmers will be the only ones left in the dark. Just thinking out loud. Joe sees this also 👇

[Boring_Business @BoringBiz_]

Realizing that the only thing keeping the job market afloat are sectors that run entirely on government subsidies

The private sector is barely adding any new jobs

We already live under universal basic income

We just don’t want to say it out loud yet

[Just Julio @julio4cy]

@silagechopper I see you found a better use to that shop than just working on antique tractors. (I farm with the same vintage so it’s not a dig)

[Just Julio @julio4cy]

@steveconaway1 Didn’t know there was a book just about them…there was about a 4 year period in the late 30s the big companies wernt pursuing leases. Set 4 families up well because of dogged determination. Also helped put LBJ in office. Thanks for the recommend!

[Just Julio @julio4cy]

@moo4isu Hadn’t heard anything. Sorry for your loss.

[Just Julio @julio4cy]

Retweeted without comment

[Adam Lasch @AdamLasch1]

Too many people in ag look at the value of their land, equipment, bins, and assets and think......"It can't go down."

Everything is cyclical.

"But it's real! It can't go down!"

Are metals "real." 🤔

[Just Julio @julio4cy]

@AdamLasch1 What scrutiny are we talking about?

[Just Julio @julio4cy]

Crop reports day