StripMallGuy
@realEstateTrent
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Candidly sharing 20+ years of real estate knowledge. As featured in The Real Deal. Posts are opinions, not advice.
Joined June 2021
I think people who buy based on a cap rate are mostly just making a macro bet on interest rates. I don’t think you’re ready to buy real estate unless you can spot a good deal within minutes. I don’t think you can be the expert at more than one niche. I think people who sell.
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Half hour ago. Teenage girl on my street having a severe allergic reaction. Yelling for an EpiPen. I’m holding my kid, sprint a block to the fire department, yell that we need an EliPen. Fireman comes out, follows me, tells me the city took them away because of budget.
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What did an office job look like before computers or cell phones?. People got to the office at 9am. There was just a desk there, and a telephone. What did they even do?. I know there’s an answer to this. I don’t know what it is.
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I’ve never understood people flying across the world for vacation just to spend five days sitting next to a pool.
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Opened ChatGPT. Prompt:. “Now that you can remember everything I’ve ever typed here, point out my top five blind spots.”. Mind. Blown.
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She wasn’t conscious by the time the ambulance arrived. I got to the fire station in plenty of time. I hope this post helps someone not have this happen to them. I don’t get political - but fire departments should carry them.
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1999. I’m 19 years old. I’m visiting a friend in Chicago, and decide to take a train to Milwaukee to catch a baseball game alone. I happen to sit next to a senior investment banker from New York City. He’s on business by himself, and we start chatting. We talk baseball, the.
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Hands down one of the best areas to live in the world
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Why I love NYC: . Target: 3 min walk.Coffee: 1 min walk.Kid’s doctor: 7 min walk .Haircut: 5 min walk .Dentist: 8 min walk .Central Park: 12 min walk .Any type of food: 8 min walk.
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Can somebody please explain how this business still works in one of the highest rent districts in the world.
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Can somebody please explain how this business still works in one of the highest rent districts in the world.
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I’ve never understood people flying across the world for vacation just to spend five days sitting next to a pool.
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It happened again this morning, and it’s sadly becoming a joke at this point. I walked into Starbucks, and the shelf that just a couple of days ago was full of holiday merchandise for the new season was completely empty. Again. When I asked the barista, they confirmed it:
Starbucks this morning, Upper East Side, New York City. Guy walks in, calmly clears the place of merchandise, and walks out.
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I have a friend who made $3M million in Silicon Valley and moved to a suburb of St Louis. Her and her husband live large, and feel very wealthy. I have a friend who made $50M. He lives in a building full of millionaires in Manhattan and feels like he’s barely keeping up.
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Ari Gold. An entire new generation has no idea who that is. When I was fishing college, he was all of my friend’s favorite tv character, by far. Example of a random scene:. Ari and his wife are at couple’s therapy. Wife: . “I ask for one hour out of the day for his undivided
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Hey sorry guys. Breaking character. This is Bar. That’s my son at the bottom of the photo. Bar lived in Israel. She went out dancing last weekend. She didn’t make it. May her memory be a blessing.
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Watching Home Alone with my son for the first time tonight. Kevin’s family ordered 10 pizzas for a total of $122. The movie came out in 1990. Apparently pizza is exempt from inflation 😅.
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Office building: 100k square feet. Purchase Price: $100M.Rent: $8M (gross).Year: 2019. Now half vacant. Rent: $4M/yr.Cost to operate: $2.4M/yr. Interest on loan: $3M/yr. Owner losing $1.4M/year, $40M down payment wiped out, and no tenant interest. Happening all over the country.
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It’s not the office that they hate, it’s the commute.
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Been chatting with my wife about an issue I want to solve, but am a bit stumped -- so thought I would ask the question here, and maybe get some ideas:. We both work full-time, and have two young kids at home. Our nanny leaves at 5pm, and then I get home a bit after that. We.
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Realtors who tell their clients to buy a home because they will be able to refi when “rates come down soon” should lose their license.
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I love buying 30 day T-Bills and renewing each month. 4.3% rate, zero risk, your money’s not locked up, and you don’t pay state or local income taxes!.
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The leap I witnessed in AI this week has me shaken. If you've followed me, you know I don't really make statements like this. I've been hearing how AI will change everything for years, but there's been little beyond promises. Nothing that can be used now. That just changed:.
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1999. I’m 19 years old. I’m visiting a friend in Chicago, and decide to take a train to Milwaukee to catch a baseball game alone. I happen to sit next to a senior investment banker from New York City. He’s on business by himself, and we start chatting. We talk baseball, the.
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Why I love NYC: . Target: 3 min walk.Coffee: 1 min walk.Kid’s doctor: 7 min walk .Haircut: 5 min walk .Dentist: 8 min walk .Central Park: 12 min walk .Any type of food: 8 min walk.
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Bought US Treasury Bills this morning at 4.47%. You don't pay any state or local taxes on these, so the "apples-to-apples" return is actually higher. This 4.47% is considered the "risk-free" rate, and nobody should be buying a 5% cap real estate deal given this. It defies math.
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Had a great parenting lesson last week. We took our toddler skiing for the first time, and signed him up for a lesson. I was sure I’d be at his side, and was looking forward to the day ahead. We arrive at the counter, they check us in, and the guide looks at me and says “pick
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There’s a very good chance your 18-year-old self would be out of their mind excited about the life you’ve built.
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Four-year-old's been playing with a friend non-stop all summer. Wife and I decided to invite the parents over for dinner Friday. I'd met them a couple times briefly. Really nice people, but didn't know much about them at all. They come over, we start chatting, and it.
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The new $20/hour minimum wage law for CA fast-food workers is causing a huge uproar. It technically applies to stores with 60+ locations, like Taco Bell, Burger King, but its implications are going much further. One major problem:. Franchisees with just a couple locations, who.
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Salesforce, a $150B company with 78,000 employees is now hiring employees by time zone, not location. No need to guess what will happen with remote work - just need to open our eyes to what is already happening.
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Liking the direction Costco’s taking new store design
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I don’t know who needs to hear this, but just because you don’t own stocks doesn’t mean you’re not impacted.
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We've been debating whether to stay in New York City long-term to raise our kids or move to the suburbs like many families we know have done. We spent the past week in a suburban house to see how it compared. The quiet was nice, and we enjoyed swimming in the pool. My son loved.
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People say they want truth -- and instead of embracing the fact someone is opening up, making themselves vulnerable, and sharing truthfully: Many decide to judge. To put down. If bringing someone down the first chance you get is your first instinct -- not sure what to say🙏.
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We interrupt this twitter outage to remind you that lenders still prefer a W2 employee that makes $50k over a 1099 entrepreneur that makes $500k.
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Buying a home to rent out for income is a terrible investment. Pick any house in America. Take the monthly rent x 12. Subtract property taxes, insurance, and random things breaking. Now take that number (your income), and divide it by the purchase price. Ya like 3%, I know.
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I don’t buy property because I think the value is going to go up. I buy property because I can make the value go up.
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Buying a single family home and renting it out for income will get you a ridiculously low annual return on your money and lots of hassle. I suppose the airbnb demand craze made the math work for a while. But that was temporary.
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Guy I know was in the process of looking for a home. Much of his down payment was in the stock market. He is no longer looking for a home.
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Live shot of the First Republic Bank branch on Park Ave in Manhattan. No lines outside. Barely anyone inside. But this is less interesting to tweet.
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Was told by a longtime New Yorker that if you really want to live in Manhattan comfortably you need to make $1M a year for every member of your household.
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Blown away by wealthy people who talk themselves into moving out of a state they love just for tax reasons. The money is supposed to give you freedom, not make you move somewhere you don't really want to be.
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25M square feet of office space is now available in San Francisco, with no end in sight. It’s like Rome has fallen. No words. Just sadness.
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“Today I woke up at 10:30am, put together two slides, then worked out, and went to meet friends at 4:30”. Actual quote from a 23-year-old in nyc today, works for a huge company. Remotely. Comp: $130k a year.
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I grew up in the suburbs. Loved it. Didn’t expect to raise my son (now 4) in New York City. Finding there is so much for kids to do here!. His favorite spot is the Museum of Natural History. This morning we went to the auto show, then the intrepid museum where he saw fighter.
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People would be blown away by the number of immigrants who drive beat-up Camrys, wear old jeans, and own a dozen properties with low debt and a $50M net worth. Won’t find them at the private jet terminal, and they’ll walk past your first-class seat, happily settling in 34B.
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Ranking of strip mall tenants, best to worst:. 1) Dentists. 999) Dry Cleaners.1000) Karate.
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What’s the worst real estate investment idea other than buying a house just to rent it out as an Airbnb?.
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Paint is the greatest return on investment in real estate and it's not even close.
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I miss San Francisco. I miss Crissy Field. The Marina Green. I miss that walk along the water at sunset, with all that green to your left, the water to your right, and the sight of that huge surreal orange bridge up ahead. The Italian sandwich spots in north beach. The insane.
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Grabbed coffee with a guy who’s got a great job opportunity that would require relocation. He can’t take it. Why?. Giving up his 2.75% fixed mortgage and taking on a 6% mortgage is a deal-breaker. Many will find themselves in the same boat. Rising rates are a freedom killer.
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Friendly reminder that lenders still prefer a W2 employee that makes $50k over a 1099 entrepreneur that makes $500k.
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Yes, lenders prefer a W2 employee that makes $50k over a 1099 entrepreneur that makes $500k.
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I have a friend who made $3M million in Silicon Valley and moved to a suburb of St Louis. Her and her husband live large, and feel very wealthy. I have a friend who made $50M. He lives in a building full of millionaires in Manhattan and feels like he’s barely keeping up.
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Underrated:. Having a kid in your 40s.
Underrated:. Having a kid in your 20s.
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@bigwill1973 This isn’t a real answer. Your response is unrelated to my post. I’m here for useful conversations.
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This reached David’s family. I’m at a loss for words 🙏.
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The Barnes & Noble comeback is one of the greatest stories in the history of retail. They’re expanding all over America!
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I get in the elevator this morning. Dude walks in, wearing $10k suit, looks at me:. "Push Floor 3 for me". I push third floor. Door opens on third floor, he walks out. Door closes. Other guy takes out earphones:. "That dude's family hates him". Welcome to Thursday morning.
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The stupidest thing I ever did in my life was get involved with my HOA.
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The stupidest thing I ever did in my life was get involved with my HOA.
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So how long until the Credit Suisse situation actually makes it into the news….
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I suggested that if each resident chipped in $2k toward a lobby remodel, our unit values would increase by at least 10x that. The room erupted with uncontrollable screams, and one guy literally fell out of his chair in pure anger. Welcome to HOA.
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Sorry, if you choose an aisle seat, the penalty is that you are ok with being woken up. Lady just lost her mind when I asked to take my three year old to the restroom. “I was sleeping!”. If you have to sleep, go with the window.
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Of tens of thousands of posts, this one mean the most. By far. Millions of people read this, which means somebody will carry an EpiPen that otherwise would not have, and someone is going to ensure they are carried by a place that doesn’t carry them now 🙏. The only update:. As.
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Was at a dinner party earlier. Tech guy asked me for some real estate advice. He then disagreed with everything I said for forty minutes.
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Nobody loves doing deals more than the guy that taught me the real estate business. After 35 years, he’s still coming across great deals. But he’s passing on everything as of late. I asked him why:
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Drycleaners, their devastating impact on our communities that nobody talks about, and a solution:. As a strip mall owner, I've dealt with this issue for 15 years, and I'd like to address it here. Hope this gets Retweeted so we save lives!. Since the 1930s, the.
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Yesterday I took an uber to the yankee game with my son. I saw a group of 3 people in their early 20s looking for a cab, and offered them to join us since we were all going to the same place. As the ride started, an honest conversation began.
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I am getting a ton of DMs about my last post. People telling me they relate, offering advice, and not wanting to post publicly for fear of being judged. Take from this what you will.
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Bought Strip Center: $3,800,000.Invested: $250k.Sold Strip Center: $7,250,000. Time Period: 3 Years. Here's exactly how we did it:.
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Guy I know has $400k in the bank, makes $250k a year, a credit score of 800, and his credit card limit’s only $3,000. The card company won’t increase it. The US credit card system:. Good luck making an ounce of sense out of it.
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Chick-fil-A is very interested in one of our properties. We told them we can’t make a deal with them no matter the rent. Why? They’re too popular. Our shopping center will instantly become a traffic and parking nightmare and the other tenants will leave.
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That Chinese food you can’t get enough of. The nail salon everyone in town loves. That insane Korean barbecue spot. Some of the best local businesses in America and operated by immigrant families. The unsung heroes?. Their children. They show up at landlord meetings to.
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Sellers don’t want to give up their 4%. Buyers don’t want to want to pay 7%. And so, the US housing market is frozen.
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Because of this community, I was invited into Charlie Munger’s home this past fall. It was 90 minutes, just Charlie and me, talking strip malls, real estate, business, finance, and life. It was perhaps the most surreal experience of my life. Here are 10 fun highlights:.
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Ever wonder how a random retail shop that’s never busy has survived for decades?. They probably own the real estate.
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It’s almost 2024 and lenders still prefer a W2 employee that makes $50k over a 1099 entrepreneur that makes $500k.
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Ok so the Salt Lake City area is beautiful beyond words, super clean, people couldn’t be friendlier. Feels like it’s booming, with construction going on all around. So, what’s the catch?.
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Risk-Free 5% money:. Go to Ameritrade. Trade>Bonds & CDs>US Treasuries>0-1 year>6 Months>Buy. Beats that shiny 4% cap Chick-fil-A. And you don't pay any state or local tax on the income.
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I secretly go on vacations to random US suburbs, and there is nothing like it!. Just got back from one, and fired up. Let me explain:. When you go to a place like Rome or Barcelona, you want to see as much as you can, experience the area like a local, and hit all the top spots.
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Cold-calling is the most underrated path to wealth in the world.
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The most ridiculous/disgraceful realization I’ve ever had was in the last day. Apparently, a large portion of society judges you if your wife works. It signals lower status to many, a sign of lack of true success. I had no idea. If this is your view, the blindspot isn’t mine.
Been chatting with my wife about an issue I want to solve, but am a bit stumped -- so thought I would ask the question here, and maybe get some ideas:. We both work full-time, and have two young kids at home. Our nanny leaves at 5pm, and then I get home a bit after that. We.
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Why does the appraiser always ask for the purchase price? Can't they determine the value without it? Why does the appraised value always equal the purchase price?. That whole part of the industry is a bit silly, and everyone knows it.
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Better financial decision?. Buys $1.5M house:. $75k interest to your bank.$18k to property taxes.$5k for insurance.$15k average to fix random things. $113k/yr “thrown away”. Rents $1.5M house:. $85k/yr “thrown away”. And can actually invest that $380k down payment somewhere.
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They don’t want to:. -wake up an hour early.-rush their breakfast.-get ready.-sit in traffic for an hour. Just to spend their day in some mediocre class B office building. Any probably never will.
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Where your parents send you to school from first to eighth grade matters far more than where you choose to go to college.
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When I was 16, I was hired as an usher at a sports arena. Not knowing any better, I took the job as seriously as a surgeon or pilot would. I read every word of the job manual, memorized every rule, shined my shoes before every shift, and showed up way too early each time. I.
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Curious to hear people's thoughts on this:. I'm 45, but truly feel like I'm in my twenties. When I meet someone who's 30, I feel like we are around the same age. Does everyone feel this way? Much younger than you really are? Do some feel much older than their age?.
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Dude on the flight’s leading a full-on team meeting via zoom where here’s going over a financial model at the top of his lungs.
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