@JulieChangRE The costs to run these things is always higher than you want. I’ve never had success buying 2-4 units. You just end up competing against people just trying to break even and need someone dumber to take you out. Too much brain damage unless you steal them
@HendoVentures @abakermont @moseskagan@sweatystartup Just did this myself, said a wild number to a broker, he delivered. Traded out of a 1950s 7 unit $3mm deal into a 30 unit new construction $17mm deal. Closed today.
Pound-for-pound, New York real estate has more chutzpah than any other industry on 🌎. It's a blood sport, rife with improbable tales of moguls who bent the skyline to their will. As we launch what we believe is the spiritual heir to "Skyscraper Dreams," let's talk through some.
@LanceTheobald@EstateRanger These are gold, request a % of profits. You can typically fit 4 carriers on each pole and each will pay $3-5k a month. Depends on how in demand the location is. The operating costs are largely covered with some return on just the first tenant and tenants are sticky 99% renewal
@moseskagan I created a document that describes all the relationships, where everything was and replaced my normal top corner watermark logo on my memos to a skull and cross bones, figured I’d at least give everyone one last laugh when they really had to dig in