Iman Jalali
@Stealx
Followers
16,951
Following
2,632
Media
901
Statuses
7,582
Chicagoland Multifamily, 800+ Units - Bear Peak Capital, Family Office - Sold Tech Co in 2013 - Buying Multifamily & Investing Into Private Cos
Chicago, IL
Joined June 2008
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#母の日
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ヴィクトリアマイル
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テンハッピーローズ
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ストフェス
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#AnnelerGünü
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カーネーション
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Roger Corman
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マスクトディーヴァ
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ナミュール
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WIN5
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津村騎手
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#ユーフォ3期
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#やまラスト
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ツムツム
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#GO時間生配信
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ヴェルディ
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才木完封
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What I’m Up To:
- Active offer out on a 24-unit in the Western Chicago suburbs
- Getting term sheets for a $10MM multifamily refi (3-year term, going agency after)
- DD on a data center land play in the SW Chicago suburbs
- Investing into a DTC ecomm startup, will be actively…
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Up until 2013, Pizza Hut was the largest buyer of kale in the US
They used it to decorate their salad bar
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Unbelievable
A Russian submarine commander was assassinated on his run yesterday
He was posting his workouts on Strava!
One of the people who liked the posts, was the Chief of Intelligence of Ukraine
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Someone needs to launch a Hibachi style breakfast spot
Eggs, pancakes, hash browns, you name it, right in front of you
Kids would love it!
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I don’t care what you say, there’s no reason a dishwasher should take 2 hours to run a cycle
Seems like a 30 minute job, tops
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Rocket Mortgage reported $96 million in net income Thursday, down 93% from a year ago
93% 😮
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Costco should have a donation bin after checkout for the local food pantry
I never need the 3 pack of ketchup, happy to donate 1
The 4 pack of pasta, the 12 pack of mac & cheese, so many bulk items there that I’d gladly donate if it was so convenient
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We’re 150bps away from a flood of F150 Raptors hitting the market
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Fun fact of the day
Bose, the company that makes the most popular travel headphones and so much more, is owned by MIT
Yep, MIT, the university, owns a company that does almost $4B/year in revenue
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When someone says "highest and best use" of real estate, this is what they mean:
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AirBnB is the Ticketmaster of vacation rentals
2 nights @ $375/night
Total with fees: $1,321
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I’m not sure if people are more shocked by the fact that Pizza Hut was the biggest buyer of kale or the fact that Pizza Hut had a salad bar 😂
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McDonald’s is launching a new concept and I was just there and grabbed pics of a whole new menu of items never been offered before
The concept is being launched in Bollingrbook, IL and it’s called CosMc’s
It’s not open yet and there was a full team of actors in the drive thru…
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Chicago is the only city in the US where all 7 Class I railroads converge
Union Pacific, BNSF, CSX, Norfolk Southern, Kansas City Southern, Canadian National, and Canadian Pacific
Diversity of industry, freshwater, no natural disaster risk, hub of Big 10 grad talent… long…
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Shout out to every aspiring parent who has been through IVF or struggled with fertility issues
Jillian & I have been on the journey for years and on our very last attempt, after 8 rounds of IVF, our son, Leo arrived on Tuesday
We need to normalize talking about fertility…
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The redesigned Lexus GX550 will sell like crazy, mark my words.
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Spending the week at The Boca Raton Resort and it may be my new favorite luxury, family friendly resort
Michael Dell, age yourself if you remember Dell Computers, bought it a few years ago for $875MM
- $589MM for FF&E and $285MM for the Premier Club
Goldman Sachs put up about…
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Amazed by old school immigrant real estate investors
In Chicago, I know a couple of groups (Persian, Indian, Vietnamese, Israeli, Polish) that own over $250M in random buildings across every Chicago neighborhoods
What’s amazing about them?
- They don’t know what a CAP rate…
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Every major airport should have a hotel attached to it
Not across the street/highway, literally walkable from the terminals
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Things I’ll never understand:
- $80k truck, $200k house
- $5k car, $2k car stereo
- $50k watch, $398 in the bank
- Politicians being allowed to trade stocks
- There’s a max age for pilots, but not for Presidents
What don’t you get?
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I found out yesterday that a tenant of mine has 15 active evictions in court.
Yes, she has 15 different apartments around the state that have filed evictions on her.
FML
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Vegas table service idea:
Every table at the club gets engraved with the highest spend ever at that table
I guarantee people will try to outspend the current leader so they can get their name inscribed on the table
Current table leaders get exclusive perks
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I don’t think
@Wendys
understands why surge pricing works and in this case WON’T work
The consumer will go to another restaurant if they even suspect surge pricing will be in effect
With Uber or Lyft, the alternative to avoiding surge is a far different alternative than going…
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Spotify should allow you to find your “Musical Soulmate”
They have thousands of hours of my listening history
Would love to know who in the world has my exact taste of absolute randomness
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US airline pilots are required to retire at the age of 65
Air traffic controllers must retire at 56
Same should apply to our politicians
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My dad is going to Iran to visit family and this is what he’s bringing them
Immigrants know what’s up
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There’s been roughly $113 billion allocated to Ukraine since the start of the war
There are approximately 13k public school districts in the US
That’s about $8.7 million PER school district
Imagine making that investment into our education system
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I’d love to hear
@balajis
join the
@theallinpod
for an episode.
The back and forth with
@friedberg
&
@chamath
going at it with
@balajis
would be insane.
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So you’re telling me all those Amazon stores that allowed you to just walk out with your stuff wasn’t AI technology and it was just 1000 people in India adding up your cart 🤣🤣🤣
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I’ve used two different gutter cleaning companies for my house across the last few years
Neither one ever reaches out proactively to schedule another cleaning
Neither one offers a yearly plan for cleanings
So much opportunity in these home service businesses
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4pm hotel check ins with a 10am checkout has got to go
Greater flexibility is a game changer for a hotel brand
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New big city high rises have an amenities war putting in golf simulators, bowling alleys, multiple gyms, etc. and all targeted to 20-30 year old singles
Someone should build one around young families:
- Indoor toddler playground
- Kids gymnastics play area
- An arts and crafts…
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If you filed your taxes today, congrats on your W2 income
If you filed an extension today, congrats on being an active investor with K1s
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We just sold our 168-unit for $22MM and what a ride it was
Bought it for $14.1MM on March 26, 2020 (holy crap was it scary to close right as the country had gone into lockdown)
Debt with Fannie at 3.09% fixed, 12 year term and 5 years IO (assumed)
The property is in Oswego,…
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My wife likes to clean the house before the house cleaner shows up 🤦🏻♂️
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Shoot your shot
Years ago I was working on a project and needed a meeting with Stubhub exec's ASAP
I figured out which exec was the most likely decision maker for my ask and then did some research and realized they were a big University of Texas football fan
I went on eBay…
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Biggest threat to Chicago
Slowing down the flow of Big 10 graduates moving here
For decades, Big 10 grads top cities to move to after graduating always had Chicago in the top 3
Nowadays, there’s just more options… options that weren’t really popular 20 years ago…
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My offer to fellow Chicago area real estate owners/investors
My entire Rolodex is open to you
- Need a lender? Whether $2MM or $100MM, I’ve got great options
- Need high quality, but cost conscious cabinets? Been using two different local groups for years now
- Need a…
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Mayor Brandon Johnson of Chicago has been an absolute and utter failure
It comes as no surprise to those who knew him before becoming mayor, this was predictable and avoidable
“incompetence of this administration” is starting to show more and more
We need to do better for…
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If you’re not married and/or have kids, don’t you dare talk about work life balance
The reason I’ve reached this point in my career is because I basically slept at the office during my 20’s
And I don’t regret it one bit
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It’s time we ban recipe websites that start off with a life story of the author and you have to scroll forever to find the recipe
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Smallest, but my favorite deal of the year
Bought a 10-unit right next to Wrigley Field. Covered land play.
Almost 8k sq fit of dirt that can one day be turned into up to 17 units
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I send handwritten thank you notes on Crane Stationary
Crane also provides the paper that US currency is printed on
My thank you notes literally feel like money
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My first thought when I see trucks like this is:
“The margins must be great.”
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Going from $1M to $5M net worth is far more life changing than going from $50M to $100M
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Why are we allowing ourselves to be poisoned?
When you go to Mexico, something you may notice is that cereal boxes are different, less ingredients, less sugar and in 2021, the Mexican government banned cartoon characters from the front of any food packages with warning labels…
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@BostonBen5
Create an email address for them, set yourself up as a back up for password recovery
Starting today, start emailing them
Tell them what you’re feeling today, nervous, anxious, excited? Attach a pic of your wife and you.
Email them after birth and continue every so often
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Alarming how most don’t know the difference between a Benihana and a Waffle House
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@SinaiLawFirm
Can you create a website and upload all court docs? So if anyone in the future searches their name, it comes up.
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A little over a year ago I started buying units in a 240-unit condo complex
Then I joined the HOA board
Then we made a deconversion offer to buyout all the condos and turn them into apartments
Last week I was voted off the HOA 😂
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Nothing says paycheck to paycheck more than a Dodge Charger
Nothing says commission check to commission check more than a Range Rover
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I’m the A hole who can’t walk into small businesses and keep his mouth shut
The local barbershop uses a tablet POS for payment and their tip options were way too low: $4, 6 & 8 and then Custom
The avg service is about $35-45. I suggested they up it $6, 8 & $10. At my next…
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These default tips on restaurant POS systems is getting crazy
25%
35%
45%
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Instead of buying $100k of crypto last year I should have bought chickens
An egg laying chicken is about $25, so about 4k chickens and each chicken lays about 5 eggs/week, so 20k eggs/week output
At $8/dozen we’re talking $50k+/month
What am I doing buying crypto or RE?!
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Expecting a kid or have young kids already?
The obvious thing to do is to create them an e-mail address, but the not so obvious one is to start writing them emails before and after they're born
Start today, start emailing them
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Lord grant me the confidence of an out-of-state investor buying a rental property remotely without ever visiting the area it's located in
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$208,963.85
That's how much we've spent on legal fees in the last 12 months on evictions alone
Currently have 21 active eviction cases across 875 units
This is across Lake, Cook, DuPage and Kendall Counties in Illinois, none of them are in the City of Chicago.
Let me make…
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Lowered rents at a property yesterday
I don’t remember the last time I lowered them anywhere and I don’t think it’s the last time I will either
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Chicago hit an all-time occupancy record for hotel rooms over the weekend
About 97% occupied, roughly 44k hotel rooms booked
Let’s go Chicago!
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I've heard the bull case for Austin, Miami, and Nashville a thousand times by now.
What's a non-obvious market that investors should be looking at?
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If I was the CEO of Costco I’d look into adding car washes to new build sites, alongside the gas station
Make it reccurring monthly membership only, either month to month or tack on $X/annually to a new tier of membership for Costco
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I was blessed for almost 40 years to have no one in my life who had committed suicide
Sadly, a few years ago, that changed and it’s been one after another
4 in the last 3 years and it’s breaking my heart
Artem and I first started talking in January. We’d DM about random…
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I want to ask every G Wagon owner what went wrong in their life to buy that car and not what went right for them to be able to afford it
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@McDonalds
@McDonaldsCorp
If you're not mad at me for leaking the menu photos, can I do a sneak peak tasting of some of the new items?
Pretty please with a golden arch on top
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Checked into a vacation rental now with a digital touchpad “concierge”, pretty cool touch
Definitely adds a cool first impression
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@zerohedge
Reportedly, Ryan Reynold’s owns about 25% of it, so a nice $337M payday for Deadpool
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After talking to a few Chicago area multifamily brokers
We’re now in a stage where there are deals, primarily $2-15MM, with little to no bids
It’s about to get ugly
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Why did my pilot just ask me to tip him?
Tipping culture is out of control
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@GrulkeLamonte
Moral of the story:
You do you. Don’t listen to keyboard warriors on here. 99% of the people won’t ever try doing what you’re doing, but they’ve got opinions like they’re experts.
Keep killing it.
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If you buy a property within an HOA, you’re just a renter with equity.
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Don't just Google your contractors
Search surrounding county court clerk websites for current and past cases
Search their business name, their personal name, and even their spouse's name
If you know of any LLC's tied to them, search them too
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Wife bought our daughter a dollhouse that requires 91 screws and the instruction manual is 31 pages long.
I might call my GC and have him handle this.
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Another reason why the closure of Foxtrot really sucks:
Foxtrot was a big buyer of local, small business items to stock their stores
Many small businesses lost their biggest accounts today
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Pro Tip:
Every Halloween I take my kids to the richest areas with the biggest houses so they can load up on full size candy bars
Then I ask the homeowner if they want to sign up to be on my LP mailing list
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With so many new car washes opening, why don’t they spend an extra 2-5% and make them incredibly entertaining for kids?
Light and laser show, water sprayed from cool houses, fire spewing dragon dryer at the end
I know my kids would beg me to drive thru at least once a week if…
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@unusual_whales
Too bad they don’t have a poll feature, would have been so helpful with questions like this
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Because of IVF and only possible via IVF, we were blessed with two amazing children
F*ck Alabama
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If this is the stage of retail at the start of this recession, this won’t end well
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New rule:
No transfer portal until after Bowl games are over
That and opt outs are gonna kill bowl games
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