Nick O

MF buy guy // stanford baseball // golf // sandwiches

[Nick O @nickkoar]

#JR15 #LLJR

[Nick O @nickkoar]

Hey @CallawayGolf I cracked my favorite driving iron prepping for Pebble :(
18* 2i - KBS C-Taper 105

[Nick O @nickkoar]

@REExchangor Got one in Concord, CA that fits - 90% seller carry - $120m. Sellers bought at auction in ‘21 and looking to get out.

[Nick O @nickkoar]

@REExchangor All MF:
3 core assets in Scottsdale- 5.5% caps
2 assets in KC - 1 value add - 1 core+ - 6%+ caps
1 core tower in Nashville - 5.2% cap
1 core+ mid rise in Mt View CA - 5.4% cap
The N’Ville and CA deal are both from the same seller ~ 40% discount to construction cost.

[Nick O @nickkoar]

@realEstateTrent Waldorf Monarch Beach

[Nick O @nickkoar]

@KenjiCapital B all day - Lower AM headache, likely higher quality locations assuming higher income/asset. If equal locations, same cap rates (5%.?) 5 assets CFing $400 at a 5% cap is worth $80k vs 10 at $200 at a 5% worth $40k.

[Nick O @nickkoar]

@JaretTurkell Likely a lot of piecemeal sub-portfolio buys from mid-cap buyers with a handful of large scale buys from the usual suspects - BREIT/SREIT.

The hard part is they’re all 2017 and newer so your opportunistic/CA funds are out of play. Limited liquidity for this risk profile

[Nick O @nickkoar]

@CaseyMericle @JonahAelyon @fortworthchris You could make an argument it would be more lucrative to put your money into SHYG and clip a 5.8% divi if your primary metric is CF.

A good deal has all both basis and CF. But basis should come first.

[John Andreini @jandreini1]

Just met with the head of Citizen Bank’s effort to be the new First Republic Bank in California.

They are building a private client group from scratch with 160 former FRB employees.

Highlights:

-Wire transfer process will be the same as FRB - email, then phone verification

-Free umbrella’s and cookies

-Rates very competitive

-Branches opening soon

This will be the best bank in America process wise, happy to make intro.

[Nick O @nickkoar]

@Joe_Stampone We’re already there. 6caps in some highly sought after markets - Seattle, Phoenix, Tampa, Nashville

[Nick O @nickkoar]

@JonahAelyon @joeybaum13 Whisper FTIO am in my ear 😩

[Nick O @nickkoar]

@JonahAelyon @PERE_MD Chicken or the egg?

[Nick O @nickkoar]

@realEstateTrent It’s absolutely coming back!

[Nick O @nickkoar]

@JonahAelyon @Molson_Hart Next step is the walking desk!

Although I still need to figure out how to do this without running into the ridicule buzz saw at the water cooler.

Tips welcome

[Triple Net Investor @TripleNetInvest]

Here's another banger deal

In 2005, Wells Fargo bought a building in the heart of San Francisco's financial district for $108 mill

Our fellow ReTwit member Roger Field's bought the building last month for just over $40 mill, or $114 per SF - less than 1/2 of what it was worth in 2005

I said it before and I'll say it again -

Buying real estate in SF within the next year or two will be biggest missed opportunity for investors that don't take advantage of the downturn

[Jonah Aelyon @JonahAelyon]

Smart money 👀

[Nick O @nickkoar]

“San Francisco is an apocalyptic hell hole”

That same apocalyptic hell hole:

[Nick O @nickkoar]

Flying into Palm Springs - looking at the sheer acreage dedicated to golf courses is mind boggling.

[Nick O @nickkoar]

@TheRealEstateG6 Don’t forget buying with a clear path to positive leverage.
Often goes hand in hand with stab cap +200 bps over exit cap.

[Nick O @nickkoar]

@realEstateTrent Highly recommend King Energy! Especially since their service is aimed at retail
https://t.co/XKMYDKuviD