Robert Brown, MSRE

San Diego coastal broker + investor | $450M+ sold | $22.2M portfolio, 17 units | Oceanfront STRs + multifamily | USC BA, USD MSRE

[Robert Brown, MSRE @robbrowncoastal]

I’m Rob Brown, a San Diego coastal broker and investor.

$450M+ in career sales
$22.2M owned portfolio | 17 units
Oceanfront STRs + coastal multifamily
USC BA | USD MSRE

I share real deals, actual numbers and lessons from buying, operating and selling coastal real estate.

[Robert Brown, MSRE @robbrowncoastal]

@JulieChangRE https://t.co/uR3CpRPub6

[Robert Brown, MSRE @robbrowncoastal]

@JulieChangRE Worst case scenario we all die hahaha

[Robert Brown, MSRE @robbrowncoastal]

You don’t need 50% down on every 2-4 if you treat leverage as a portfolio problem.
I’ve put 35–50% down while keeping global LTV under 50%, 2 years of reserves in HYS, and the rest of liquidity in $VTI + DB plan, Solo 401k, IRA and HSA.
Paying off every HELOC now so a few legacy assets go from ~50% equity (1st + HELOC) to 70%+ with firsts only.

[Robert Brown, MSRE @robbrowncoastal]

@KalghatgiLe @ThinkAppraiser Saying they don't 'run positive' without mentioning LTV misses the point. I haven't seen a single unit run negative if you buy it in cash or put 90% down.

[Robert Brown, MSRE @robbrowncoastal]

@RichardPBailey_ Before asking taxpayers for more, show us what each department delivers per dollar: roads repaired, permit turnaround times, emergency response times. Publish the targets and results, and hold leadership accountable. A bigger budget is not a measure of success.

[Robert Brown, MSRE @robbrowncoastal]

@jonbrooks I like my 3% mortgage, I LOVE ❤️ my 2% mortgageS (not in love with my 5s and 6s lol)😂

[Robert Brown, MSRE @robbrowncoastal]

@ThinkAppraiser Saving up much larger down payments. Finding underpriced value-add deals off market. Low leverage under 50% on the portfolio. Legacy 30yr debt under 4%.

[Robert Brown, MSRE @robbrowncoastal]

@theficouple Unicorns 🦄 far more rare than millionaires in their 40s. You need $13m + to even be in the 1%

[Robert Brown, MSRE @robbrowncoastal]

@JulieChangRE QE worked because the Fed printed & bought trillions. A $6B Treasury buyback is not QE. It’s the government buying its own paper w/ more paper. That’s why yields still went up. The bond market sets the price when the bid isn’t big enough to matter.

[Robert Brown, MSRE @robbrowncoastal]

Agree on the 2-year-inventory markets. Agree in most markets. That’s not west of the 5. Our sellers aren’t staring at 2021 prices with a glut. They’re sitting on 3% money or very high end waterfront all cash and not listing. Volume is dead here because the houses aren’t coming out and the buyer won’t stretch into $100 oil and a 5-handle long bond. Same low volume. Different problem.

[Robert Brown, MSRE @robbrowncoastal]

@davidbam858 @realEstateTrent I stayed at Montage Beverly Hills in a presidential suite for $150 / night in 2018. Agree 👍

[Robert Brown, MSRE @robbrowncoastal]

@Lena689bh6w started at home. Mom and dad were brokers and investors in Vegas, already buying in San Diego, LA, and OC. I came down after USC, bought a beachfront place in Mission Beach, and fell in love with this stretch of coast. Still here.

[Robert Brown, MSRE @robbrowncoastal]

I’m Rob Brown, a San Diego coastal broker and investor.

$450M+ in career sales
$22.2M owned portfolio | 17 units
Oceanfront STRs + coastal multifamily
USC BA | USD MSRE

I share real deals, actual numbers and lessons from buying, operating and selling coastal real estate.

[Robert Brown, MSRE @robbrowncoastal]

The question is which side moves. Fed hikes can narrow it, but so can the 2-year falling as growth or inflation expectations cool. And it can stay wide for a while. I respect the warning; I just wouldn’t treat convergence as proof that hikes have to follow. 30yr fixed under 4% with prop 13 is key 🔑

[Robert Brown, MSRE @robbrowncoastal]

@moseskagan I enjoyed reading (well, listening on Audible) to this book!

[Robert Brown, MSRE @robbrowncoastal]

@ThinkAppraiser Had one for my 430 spider in 2006, don’t give anybody in their mid 20s millions of dollars hahah

[Robert Brown, MSRE @robbrowncoastal]

@moseskagan Agreed on the investment math. I accepted lower expected returns & more risk on my 3rd oceanfront place because I love it. Part investment, part enjoyment purchase. Have to be honest about what you’re paying for. The sunsets help. 🌅

[Robert Brown, MSRE @robbrowncoastal]

@JoshInEncinitas