Jordan Atkin

Recovering Multi Family Developer transitioning to Industrial Investor - Sharing my journey and learning from others - Founder and Managing Director of TAG SLC

[Jordan Atkin @TAG_SLC]

@antonia_mdprjct Co-sign. Seahawks gear in full swing

[Jordan Atkin @TAG_SLC]

Can't make this stuff up. We sent in a well articulated request that could have been forwarded to the appropriate party in less time then it took to make this reply.
Appreciate the urgency

[Jordan Atkin @TAG_SLC]

If a borrowers PFS has 10K for personal furniture, are they thorough or stretching ?

[Jordan Atkin @TAG_SLC]

People get in their own way.

Broker: Prospective buyer says what you paid for it vs the price now is too much of a turn off for him

Me: That is fine, he probably drive a prius to save on gas money

[Jordan Atkin @TAG_SLC]

The way I see it is that once a deal is stabilized, you are only going to get the market return. If you have the ability to find another problem to solve, sell it and go fix the next problem.

[StripMallGuy @realEstateTrent]

Charlie Munger invited me to his home in 2023.

He said something I’ll never forget 🙏

[Jordan Atkin @TAG_SLC]

Should Neighbors Concerns Always be Addressed??

"Hi, this is the neighbor to your property at XYZ. Just wondering who I can contact about the fallen leaves at this location? Winds in the forecast and all those leaves are going to blow all over!"

[Jordan Atkin @TAG_SLC]

Someone decides to start removing the faux brick from this retail building.
Now the tenants arguing "Landlord shall maintain, keep and repair, at its expense, all structural portions of the building."
Pretty sure that cardboard isn't structural

[Jordan Atkin @TAG_SLC]

Sometimes Deals Die

So far this week:

Sale of Development site - buyer cancelled because they weren't close enough with the city

Sale of Development site - buyer released their option due to city not allowing use

Sale of SFR we took back at foreclosure - buyer cancelled due to wonky floor plan

Sale of STNL Industrial - buyer asked for 5% discount due to roof issue that is unknown to us or the tenant

Term sheet denied by borrower on 10% LTV deal

Loan didn't fund because borrowers parents decided to lend them the money

Payoff of 1.35M bridge loan was delay due to underwriter

Two LOI's on STNL Industrial deals reject - seller got better offers

BUT..... the week isnt over and your only one call/email away from the deal of a lifetime.

[Jordan Atkin @TAG_SLC]

@kaylanknit No but I had this happen after a cold plunge and a whiskey served neat!

[Jordan Atkin @TAG_SLC]

@twallyweb This is a tragedy

[Jordan Atkin @TAG_SLC]

Buyer reaches out a week before the expiration of DD wanting to get on a call to discuss where they are at.

Save the story, just interested in hard EM

[Jordan Atkin @TAG_SLC]

@Austin__Taylor @bikelakecity We have several smaller sites similar to this one if your buyin

[Jordan Atkin @TAG_SLC]

Anticipate selling a syndicated industrial deal in December and contemplating whether to 1031 or cash out.

For my own or partnership deals, almost always 1031.
But haven't explored this as much with syndication.

Who has done this? Did it work out okay?

[Jordan Atkin @TAG_SLC]

@twallyweb I suppose you have to vocalize the negative to balance out the seemingly never ending raving reviews you receive!

[Jordan Atkin @TAG_SLC]

@ChrisRamsey60 Porsche 911 by Singer

[Jordan Atkin @TAG_SLC]

Don't do something permanently stupid because you're temporarily upset!

[Jordan Atkin @TAG_SLC]

@twallyweb Cold plunge?

[Jordan Atkin @TAG_SLC]

@cody_baird It was less than 10 sq ft so ya it was easy just stupid

[Jordan Atkin @TAG_SLC]

New office tenant is requesting lease sq ft reduction due to this 'pop-out' obscuring space!
Fair deal or creative negotiation? 🤔

[Jordan Atkin @TAG_SLC]

Dear Insurance Provider-
Can you just reduce my premium by $50 instead of sending a mountain of worthless paper?