BarryRoland19
@BarryRoland19
Followers
13,176
Following
698
Media
377
Statuses
12,884
Explore trending content on Musk Viewer
#RafahOnFıre
• 1838386 Tweets
Israël
• 1751932 Tweets
Memorial Day
• 552743 Tweets
اسرائيل
• 411986 Tweets
LISA x KITH WOMEN
• 213648 Tweets
ミサイル
• 132513 Tweets
الجيش المصري
• 88835 Tweets
Nadal
• 88661 Tweets
Bill Walton
• 85507 Tweets
Maresca
• 81736 Tweets
Jアラート
• 60439 Tweets
Ucrania
• 51779 Tweets
السيسي
• 50101 Tweets
Jarabe
• 42994 Tweets
#النصر_الاتحاد
• 42155 Tweets
FilistiniçinAyaktayız
• 39058 Tweets
علي الحدود
• 33716 Tweets
Rest in Peace
• 32986 Tweets
ابها
• 32192 Tweets
Zverev
• 32168 Tweets
Alejandra del Moral
• 30329 Tweets
EURO 2024
• 30200 Tweets
Edomex
• 22154 Tweets
جندي مصري
• 20993 Tweets
RIP Legend
• 17482 Tweets
Human Scum
• 16847 Tweets
القحطاني
• 12557 Tweets
سافيتش
• 10784 Tweets
Married investors: does your significant other have any idea how much your net worth fluctuates every day?
I’ll start: Only on up days
138
89
3K
Distant elderly relative lives in a 1500sf rent controlled unit in Beverly Hills, paying like $1400/mo.
New ownership asked if she would accept $10,000 to move so they could renovate.
She reached out asking if she should accept.
It’s about to get littttt.
148
29
1K
Prospective home buyers: “finally, interest rates are up, can’t wait for prices to finally drop so I can buy a home”
Every homeowner with sub-3% debt: “I’m gonna die in this house buddy”
37
74
1K
Non-paying tenant (2 years) texts me this morning:
“Hello. We’re moving to Palmdale next week. You can pick up your keys on Friday. Thank you for everything you’ve done for us. I love you.”
2023 gonna be a banger
67
34
873
Grandparents (Jewish, in LA) hired a young non-Jew to facilitate their estate sale last week
Contact signed
The day before the sale, he found out they were Jewish, and told them “given what’s going on, I can’t honor the contract”
Slowly, then all at once
201
48
809
So OpenDoor bought a house nearby for $1,251,000 on 5/19/2021
Listed today for $1,265,000.
What?
87
15
692
@MarinaMedvin
Importantly: He brags about killing “a Jew” — not a Zionist, not an Israeli, not anything else — he says a Jew.
15
20
688
@bradford_hardin
My friend's dad is a billionaire
When a vendor threatened to sue him over something trivial, his son told the vendor something along the lines of:
"please, I'm *begging* you not to sue my dad. He will destroy you for the rest of your life."
People hate being sued
11
7
668
97% of tenants whose applications I’ve ever reviewed, regardless of income ($3300mo-$18kmo), have like $868 in savings.
52
40
672
Sitting at Shabbat dinner right now.
Have an uncle who owns/manages prob $1-2b in RE across the US.
We have dinner 2-3 times a month.
Have never — not once — heard him utter words like cap rate, IRR, or MOIC.
32
14
647
Just got a call from a tenant, 10:00pm on a Sunday.
If you’ve ever been in this position, you know it’s never good news and probably an emergency.
Dude was shit-faced and wished me a happy 4th.
God bless America!
11
11
647
Asked my friend how our mutual friend, who had never done a deal in his life, raised money ($20m) for his first syndication (Phoenix, new construction multifamily, 2022)
"He went on LinkedIn and messaged ~20 different funds. One of them responded and committed all the equity."
20
23
631
Tenant applicant brought a moisture meter and tested our unit during her walkthrough
Absolutely love people who do good due diligence before moving forward
But also 🚩🚩🚩so it’s gonna be a no from me dawg
67
10
568
6mo ago, made an offer at 1.7 on a building asking 2.5
Broker dismissively told me seller isn’t going to “give it away”
3mo later, 2.1; I reiterated 1.7
Crickets
Last week, 1.85
Out of sheet pettiness, emailed her that she shouldn’t be giving it away
And kindly offered 1.6
23
5
570
When I see apartments listed for rent, I can tell if the landlord is a cheap scumbag just by looking at one picture.
It’s a dead giveaway:
54
8
549
Here’s a new one
Tenant (at 730pm): “my toilet is clogged, send a plumber”
Me: “ok, he’ll be there tomorrow at 9am”
Tenant: “ok”
Tenant (at 820pm): “I fixed it, do you want to pay me, or should I discount the rent?”
46
4
488
“Maybe spending $8/day on buying coffee doesn’t make sense…”
<buys $300 grinder>
<buys $200 kettle with internal temperature guide for perfect brew>
<buys $200 worth of Chemexes/French Presses/drip machines>
<buys $20/lb coffee>
“Financial freedom here we come”
82
12
459
About to replace a water heater, call up main guy. $1300.
Call up my
#4
guy (unlicensed): “You’re in luck, someone ‘gave me one’ the other day. $450 all in”
Now do you understand how hard it is to say no to the low bid?
37
26
430
RE investors: appraisals are so stupid
Also RE investors: Announcement! I bought this building for $1m and it just appraised for $2m! Booyakasha
15
10
419
CA sued me for ~$50k to recover wages my lic. GC didn’t pay his guys
2 govt attorneys spent an ~200h litigating
I hired the cheapest lawyer possible, who spent 40h
I offered $10k to settle day 1
They “won” $6k year 4
Waste of time, resources, & a deterrent to build again
36
15
426
The whole gang’s here!
Anti-abortion
CEQA
San Francisco
Class A office
Lawsuits
Prevailing wages
11
50
416
Everyone on Twitter
“Know a guy worth $50m”
“Buddy of mine clears $3m/y”
“Met a guy with $8m CASH in the bank”
Bro: how the hell do you know this?
I barely know my own net worth, no idea how much *anyone* makes/year, and have never known how much cash my dad has in the bank
37
15
406
Still reflecting on Artem this evening
Joined Twitter a year ago and just relentlessly started sharing, teaching, inspiring, asking for *nothing* in return.
Didn’t sell a course. Didn’t charge people for his time. Didn’t hold back secrets. Just provided value, nonstop.
19
8
407
My lawyer, via email: "Hey, just wanted to wish you a Merry Christmas."
Me: <is this son of a bitch going to charge me 10 minutes at $450/hr for this?>
Out of fear for an additional 10 minutes of billed time, I'm not even going to respond
I don't celebrate Christmas anyway
31
8
371
Why are nanny expenses not fully deductible?
It’s a legit $50-70,000/yr expense if you want to hire full time help, which, given the rise in dual-income households, I’m assuming is more and more common.
Selfishly think these costs should be subsidized or fully deductible.
102
6
349
A line I use with my subs quite often:
“So just to be straight with you, I’m obviously getting a few bids on this. And as a matter of principle, I won’t negotiate after I get the bid, and I won’t try to price match with the other bids, so just do the best you can.”
19
8
357
Contractor who I paid, who in turn didn’t pay his subs, all of whom then went to the Labor Commissioner, which sued me personally for wages, and subsequently dropped Contractor from the complaint because they couldn’t locate him for service of process, just called asking for work
34
6
348
Wondering why housing costs are sky-rocketing?
I know someone who just bought a ~$4mm house at 63% LTV, 30y term, fixed for 10y @ 2%, with a 10y I/O period
His monthly mortgage payments for the first 10y are fixed at ~$4,100/mo
For a $4mm house!
28
12
340
Convo with wife
W: "You don't take enough risk. Ppl are buying homes & selling them for $500k more a few months later, why don't we do that?"
M: "...I bought all these apartments for X and they're all worth 2-3X now?"
W: "You knew they were worth 2-3X! That's not taking risk"
26
1
341
If you're going to invest in RE as an L P, make sure you have at least one articulable reason as to why you prefer to be an LP in a highly illiquid asset, vs. investing indirectly in a REIT.
Some reasons below
25
20
335
Wife opened a Robinhood account, bought 10 shares of Carvana for 60 and sold it months later at 240.
I asked her why she bought and sold, and she just shrugged, “I dunno.”
She’s never bought or sold any other stock before or after.
👑
12
1
322
If you’re thinking about buying a seller’s LLC instead of the property to avoid property tax reassessment, ask yourself this question first:
“Am I a fucking idiot?”
Bake the property tax reassessment into the purchase price, and buy the property at a price you think it’s worth
27
9
325
Poker in 2003, nobody knew how to play. Relatively easy to crush the game.
Then, everyone started talking strategy. On forums, on websites, in books.
Today, the game is solved. So hard to find an edge and make money.
RE Twitter reminds me of the poker forums back in the day
25
9
307
Me: hi id like to cancel my flight scheduled from LAX tmrw
Airline: that’ll be $400 pls
Me: but it’s global jihad day tmrw, wtf
A: very sorry to hear that sir. that’ll be $400 pls
Me: um…ok, I have Covid
A: a refund has been issued. We look forward to flying with you soon!
10
5
306
Told my fam about an opportunity to lend in second position (behind the 50% senior and in front of 30% equity) at 9.25%, on a tiny deal I’m GPing.
Same rate the bank is offering.
Mom jumps in: “We can get your grandma to lend at 5%. 5% is good enough for her.”
Savage
19
4
302
Been thinking a lot about this recently:
Without appreciation, real estate kinda sucks
58
8
289
There’s a $4m house a few miles away that’s been for rent for 24 months
Started at $20k/mo
Then $16k/mo
Then $13k/mo
Now $11k/mo
Vacant the whole time
There’s tons of examples like this in LA
Houses listed for $10k+ that just sit and sit
43
17
291
Yes, in case it wasn’t blatantly obvious, I’m going to tell him to meet me for a bid and then have him served
8
3
294
Tenant had a leak in his ceiling and his gas went out last week, so I told him to take his family to dinner, on us
Woke up in a cold sweat, expecting 5 omakases at $600/head, since I didn’t mention any restrictions
Homeboy went to Denny’s
I can breathe again
13
0
290
Overheard
"It's listed for $1.8mm and our budget is only $1.9mm, so we literally have no chance of winning the house."
LA right now
21
9
288
Appliance repair, in a nutshell
$89 for a service call. Fee will be applied as a credit for the repair, if you proceed
Caveat: cost to repair will cost double the cost to replace
Caveat 2: Nobody even knows how to fix appliances; they just drive around bidding replacement cost
30
6
278
I’ve been 30% cash for like 2-3 years, waiting patiently for this moment
To pile into treasuries
8
2
272
A little life advice:
If you have a young kid and you’re over 35, and you’re invited out to dinner on a Sunday night, before even considering whether you should say yes, just say no.
Thank me later.
15
6
270
“When I have kids, we’re going screen free — no phones, no iPads, no TVs, nothing!”
lol good luck 🤭
66
9
278
The nicest and newest apartment buildings in LA, designed by the best architects and designers, are half empty and offering major concessions
The oldest and ugliest apartment buildings in LA are packed to the brim with 100% occupancy
Funny how that works
28
7
265
Dad calls me the other day frantically, “we have to get into AirBNB. Have you looked into it? It’s amazing! [My friend] rented his house for $30,000 a month!”
“Dad, his house is worth 12 MILLION. Give me 12 million and I promise I’ll get you $30,000 a month.”
7
6
254
Heard a story about a guy who "makes multiple millions annually" and hasn't paid taxes in 10y+
His secret?
He doesn't report his income
"Dude, what if you get audited?"
"Hasn't happened yet"
(Also heard he has ~$80m in RE free+clear in his personal name and no insurance)
48
6
249
Some of the smartest people I know invest in crypto. Some of the smartest people I know think it's a scam
Some of the smartest people I know are extremely religious. Some of the smartest people are atheists.
None of the smartest people I know are buying value-add MF in LA.
16
8
248
Here are some random tips from a guy who's like 90% complete gut-remodeling his first apt building
1. Know how to read plans and make sure your contractor knows how to read plans.
2. Make sure your contract states that the contractor has read plans and understands the plans
16
11
237
Typical day in the life of a self-operating RE guy who sucks at delegating
6AM: Wake up. Have never meditated, won't start today.
615AM: Coffee is done brewing, but my baby girl wakes up, so I leave it on the counter to get cold while I warm up a bottle
630AM: Check market.
13
6
237
True story
Recently increased rent by over $2000/unit across an entire apartment building after upgrading the backsplash.
Here’s how:
Gut-renovated the entire building also
7
2
228
"Buy one property a year, and you'll be rich in 20 years" is generic advice in RE.
But life isn't so linear.
In 2019, I dumped a large % of my net worth into buying five multifam buildings in LA, all cash, in an off-mkt fire trust sale, at 9-10 GRM and 140/sqft.
1/n
16
14
225
Broker: "It's about 14,000 sq. ft., built in '82, 20 units, mostly 2br, in this zip code. $5mm. Need signed NDA for address."
Me, w/o signing: "2400 Main St? Sold for $3m 2y ago, and you're asking $5mm now, w/similar going-in rents???"
Never hear from broker again. Oh well.
11
1
224
Few months ago, 18yo cousin told me she never drives on the fwy bc she’s afraid
Told her next time she’s in the car, look around — every single person’s an idiot. And they’re doing it
2 wks later, she’s driving on the fwy
Same mentality may be applied in unlimited scenarios
25
11
217
it's actually *insane* to lose 100% of your equity on stabilized multifamily, particularly in a tier 1/2 location, given the upside scenario in the asset class
Lost $100,000 in real estate.
Invested in a real estate syndicate with "professionals."
The original proposal was 11% yearly cash return.* The property just went to foreclosure.
But Noah, landlords always get rich and real estate always goes up.📈
I don't know. ¯\_(ツ)_/¯
272
63
994
35
4
215
A tenant who’s behind on rent just called me and asked if I’d be their co-signer for a new truck.
When I literally laughed and said no, he unironically asked why not?
I am not making this stuff up.
14
5
213
Convo with friend/family LP:
“I invested $500k and you’re only sending small $4k checks every 6 months”
“I returned your entire investment to you y2, when we refinanced”
“Yes but I expected to make more than $8k a year!”
Unsophisticated LPs need it broken down, is what it is
31
2
208
From a developer buddy:
“We’re spending $4k/mo to a guy to live on site 24/7 so people can’t steal shit from us”
“Damn. $4k/month?”
“He’s chased off over 10-15 random in the last 2 months”
If the city wants to get real about housing, it has to get real about property rights
23
4
205
ARKK just dipped below its March 2020 low
Berkshire up 50% since its March 2020 low
So legendary
11
3
203
Such a beautiful coincidence that once the eviction moratorium was lifted, each of our ~50 tenants started paying rent on the 1st again.
A miracle, really.
10
4
199
I haven’t raised my rent on my best residential tenant in two years because:
-she always pays on time
-her boyfriend is an electrician
-she never bothers with silly maintenance requests
-it’s still illegal
-she’s super respectful and understanding
9
5
192
Every day is Groundhog Day on Twitter
-Is $1m a lot of money?
-What 3 stocks would you buy for the next 10 years?
-We need more housing!
-BTC yeehaw!
-8 facts about the diaper industry 🧵
-Plumbers make so much $ wtf!
-Best time to start a biz: GFC. Second best time: today
18
6
195
How I bought some of my best deals:
Noticed an unknown broker list a building for sale, for an unreasonably low price.
Immediately contacted her. She dropped the fact that this was a trust sale, and the dead owner had 30 buildings.
I looked up each building.
10
6
192
Just realized that my go-to plumber, electrician, flooring guy, tile guys, and drywall guys don’t have any Yelp reviews. Literally can’t find them if you Googled them.
And my HVAC guy has like one 5 star review. That I wrote.
Imagine eating at a restaurant with no reviews, jfc
31
3
191
At Shabbat.
GP (host) recently sold a building for mid-8 figures. Some of the LPs are here. From net proceeds, most LPs received a low 7-figure check. Today.
As expected, nobody’s talked about the sale, real estate, money, or cap rates tonight.
Real Gs move in silence.
8
4
183
Over breakfast with my wife:
“Have you ever looked at a compound interest calculator?”
“I think you showed me once” (looks away, unamused)
“If we give our baby $20k right now, and she compounds at 4% for 70 years—”
“4%? Are you insane? She’s not Warren Buffett. Be realistic”
7
3
185
I'd say 25-50% of my big-time savvy LA RE friends, who are part of RE families that have been investing in LA for 30+ years and have 9-10 figure RE portfolios w/little to no outside capital, are transitioning away from SoCal, particularly out of SoCal multi
Like just fully out
43
11
184
Young ppl
Am mid-30s, w/a baby on the way. I can *confidently* say that making big + risky bets is much easier in your late teens and 20s, esp. pre-marriage
Used to have crazy (for me) daily $ swings w/o blinking. Not anymore
For the sane, timespan to go for broke is limited
12
7
181
Every time I’m at a nice hotel, I get inspired by the design, take a bunch of photos as inspiration for future projects, then never look at them again, because I renovate class C workforce apartments and I don’t build luxury hotels
13
2
177
Update on cold-texting:
Have texted 100 numbers (don't know if all are valid)
Have gotten 8 responses (one "i will never sell", and the rest "take me off your list")
Really exciting so far
21
0
177
Delight your landlord (who you haven’t paid in two years) in 48 words or less
15
3
171
After one year on Twitter, I’m 99% sure that most real estate people know close to nothing about public equities and public equities people know close to nothing about real estate investing.
14
3
170
My dad, who's never read a BS/IS/10K/anything, has been begging me to buy AVGO stock for the last year
I kept telling him to just stick to an index, that he doesn't know what he's doing
The stock has 2xd in the last year, and he texts me "gm, Avgo 🤪" ~every day at 630AM
15
1
174
Broker: “this is a 4.8 cap, nowhere else in LA can you find such a cap rate”
Me: “but you didn’t include any management expense”
Broker: “for a 6u bldg you need management?! 😂”
Me: “will you manage this bldg for me for free for the rest of your life?”
Broker: “it’s not the same”
13
3
171
Consider, for a moment, the effects of this outcome
I, a property owner, who hired a licensed GC to do work on my property, am responsible for the direct WAGES of that GC, even though I have no right to control, supervise, or otherwise instruct those employees, if GC doesn’t pay
13
7
170
I know everyone’s freaking out about RE prices, but I glanced at a listing today for a 20+ unit building, thought “hmm, this bldg kinda pencils,” then realized all the numbers were proforma, the pictures were all renderings, there were no units, just being sold for land value
10
3
164
One of my prouder moments:
Tenant’s gas goes out at 8pm
Call my plumber (not an employee),and he goes out to the hood and fixes it by 9pm same night — and charges a reasonable $175
Took *years* to find a crew I can really rely on to have my back for pesky maintenance issues
5
2
165
Speaking with a good friend whose family owns probably $50m of real estate that they have gut remodeled to the nines, w/no outside investors, in prime prime areas of LA:
“We’ve never kept track of the costs of a remodel”
19
4
164
Here’s some (allegedly) questionable behavior by a mom & pop landlord, after my buddy vacated his 1200sf 2br apartment a few months ago (left in ~same condition)
Apparently this LL has a history of pulling this w/tenants
What would you do?
132
7
160
300+ people showed up in the first hour of this single family home open house today in LA.
Never seen anything like this.
20
5
160
Apparently I’m a bank.
Have a residential tenant who owes low-5 figures in back rent ask me for a $500 loan today.
20
1
157
Have gotten separate texts from two fairly large private RE GPs (not on Twitter) this morning, encouraging me to buy shares of First Republic.
This tells me two things:
1. The love for this bank really does run deep, and
2. You were all right. RE sponsors don't do any DD
9
3
160
Maybe an unpopular opinion, but there is currently no housing bubble, and there will be no housing bubble, unless some combination of the following occurs:
(1) banks really ramp up LTVs and/or (2) banks lower underwriting standards
16
16
156
If you’ve ever wondered to yourself, late at night, before going to bed:
what would happen if I lease a unit to someone who claims to be a nurse, but is actually a stripper, and she installs a portable washer/dryer in the living room w/o any venting?
This one’s for you
27
6
151
An undefeated bunch:
NY transplants applying to units in LA
“Do you have a video of the unit? Looks great! I’d like to apply! Here’s my ID, paystubs, bank statements, references, & credit score. Lmk if anything is missing!”
In less than 2h, before others even see the unit
14
3
151
Broker: Seller will sell off market for $4m
Me: I'll run numbers
Broker, two hours later: Oh by the way, I'm gonna want $200k
Broker, four hours later: Oh by the way, it's actually in escrow right now for $4m. But the guy will assign it for a $200k fee
Me: I'm at $3m
7
2
153
Every time I underwrite an apartment these days, it goes like this:
"Wtf. I'm off by like 40%. How are they asking $1.65m? It's worth $1.05m generously. Wt actual f"
Look up sale history, as a sanity check
Sold for $740k in 2016. Same condition. Current rents are up maybe 10%
10
4
146
For the newbies in multifamily
Advertised 5 cap means 4.25% unlevered yield after updating broker financials to account for IRL vacancy/bad debt/repairs
4.25% unlevered yield means 3.25-3.5% unlevered free cash flow (that is, after capex is smoothed out)
3.25% is a low number
8
5
145
My preferred structure as a GP:
5-6% simple interest pref
20-30% promote
~10% construction mgmt fee (super heavy value-add)
Chunky co-invest
No other non-property level fees
Intent is to hold forever
16
5
147
Minimum monthly cost of living for a family of three with a 1-2 year old in LA:
Housing: $5000
Health Insurance: $700
Utilities: $800
Organic Berries: $3800
Other groceries: $700
Entertainment: $350
Subscriptions: $400
17
1
145
At $1 per mega lotto ticket, if you believe that the downside risk is $0 and the upside potential is $40,000,000, then at these prices there is a 0X downside and 40,000,000X upside.
At $20K BTC, if you believe that the downside risk is $10K and the upside potential is $250K, then at these prices there is a .5X downside and 12.5X upside.
This is a 25 to 1 Reward to Risk profile. This is compelling.
756
1K
9K
7
3
142
Best STR/AirBNB I’ve been to:
1. Owned by a grandma who made fresh pasta for us at night
2. Who had an epic wine cellar and olive oil mill, graciously sharing w/us
3. On a farm, in Tuscany, surrounded by olive trees
That’s all you have to do, don’t overcomplicate it
11
5
142
What’s something that sounds cool at first but actually is just a pain in the ass in disguise?
I’ll start
Collecting rent in cash
62
1
141
@AGHamilton29
@yashar
There are *countless* Holocaust survivors who never became comfortable speaking about the atrocities they witnessed. And took their stories to their graves.
Imagine being freshly released and asked “ok so tell us everything”
4
7
137
Roof replacement bids (torch-down, 700sf, plywood not included)
$3,200 (unlicensed, but does good work; can start Monday)
$5,600 (licensed, has done 6 roofs for me; has 0 online presence and is 2 weeks out)
$9,999 (down from $12,000; best and most reviewed roofer on Yelp)
25
3
140
The point being: lower rent and true affordability is the best amenity — people will sacrifice *a lot* to live in a place they can easily afford
10
4
139