Real Estate. Land Buyer.
Houston
Joined May 2016
- Tweets31.8K
- Following4K
- Followers2.8K
- Likes18K
The use of the passive voice, is so dishonest. It's the first sign of hackery.
Who attacked the system in 2020? Name them and the movement.
It was Trump/MAGA.
This is so good!
👏🏿👏🏿👏🏿 @LeylaKuni
The seller:
"In 2020, I was making $220k a year as a program engineer.
Good job, nice house, but I was tired of working for the man. I wanted financial freedom.
So I attended a real estate syndication seminar.
The guy on stage owned 10,000 apartment units, drove a Lamborghini, and apparently hadn't worked a day in years.
I paid $40,000 to join his mastermind.
That's where I met my future partners. A dentist, a software engineer, a mortgage broker, and a guy who'd sold his HVAC business.
None of us had ever owned an apartment building, but between us, we had something like 70 years of business experience. How hard could it be?
Six months later, we were buying a 977-unit apartment complex in Atlanta.
$120 million valuation. Huge value-add opportunity.
The broker said rents were 30% below market, and our Excel model showed a 25% IRR.
We raised millions from friends, colleagues, a few dentists, and some other accredited investors. Everyone loved the presentation.
The first year was amazing.
I got invited to speak at two syndication conferences. Our mastermind even featured us as a success story.
I was thinking about quitting my IT job.
Then we started having some issues with the property.
First, the management company quit.
The replacement company quit too, after the on-site maintenance guy was shot at.
At some point, someone stole the security gates.
Then our lender called about something called a rate cap that had expired.
I have no idea what that is, but our mortgage payments doubled.
We sent investors an update explaining that we were strategically preserving liquidity while repositioning the asset.
That bought us a few months.
Eventually, we stopped sending updates altogether. One of my partners moved to Australia. I haven't heard from him since March.
Anyway, last week we agreed to sell the property for $73 million.
On a brighter note, I've decided to launch a coaching program for aspiring syndicators.
$40,000 for the mastermind.
After everything I've been through, I feel like I have a lot to teach."
Real Kelly E retweeted
This is purposeful voter suppression by Ohio Statehouse Republicans
They passed a law allowing only ONE early vote location per county, no matter the county size or population. They knew this would create lines in places like Cbus, Cincinnati, & Cleveland, but not rural areas
Crazy thing is these appraisals are still off.
$100k a door for Class B- in Grand Prairie is still way too high.
New Appraisal Reported on Two More S2 Properties
The Kace: $82.9M vs $155.4M when the loan was originated.
720 unit apartment complex in Grand Prairie, Texas
CMBS ($92.2M | 15.3% of FREMF 2022-KF144)
Jerome: $62.5M vs $137.0M at origination.
408 units in Glendale, Arizona
CMBS ($74.9M | 18.9% of FREMF 2022-KF142)
-morningstar
#CommercialRealEstate
Real Kelly E retweeted
When people say Barack Obama divided this country more than anyone (or at all), what they really mean is he made a lot of racists fighting mad bc he is a brilliant, kind, charismatic, competent Black man - and not whatever made-up stereotype they want to project on Black men.
Real Kelly E retweeted
While I’m excited to see so many Americans surging to their polling places to cast their ballots these long lines are both a testament to the civic values of Americans & an indictment of our voting infrastructure. NO American should have to wait in long lines for hours to simply exercise their RIGHT to vote. We can and we must do better. We have the ability to make voting easier, I hope the Dem House will work as hard at making it easier to vote as the GOP has at making it harder
Michigan needed a center left 50yr old Black woman to run for Senate.
An Aunty that would've squashed all the beef and made burgers 3 months ago.
Real Kelly E retweeted
Deleting investor capital, getting sued by multiple lenders, posting about sailing BVIs
I have seen people ordering concessions during the national anthem, using the bathroom, dealing with a baby or toddler, and texting.
I don't think those people are disrespecting America because what does that even mean?
And who made me the patriotism police? No one.
Jason Williams believes the NBA will fine LeBron James for disrespecting the national anthem
“Motherf*ckers should stand the f*ck still during the national anthem” 😳
(Via @hoopinghollerin )
The QTs and Replies are ironically calling for something I support: Quotas!
I’m proud to have the most talented, hardest-working cabinet in Virginia’s history. They are also the most diverse cabinet Virginia has ever seen.
Every single one of our cabinet secretaries were selected because they’re the best of the best in their respective fields. They also bring invaluable perspectives from across the Commonwealth — from Danville, Hampton Roads, Richmond, NOVA, and more.
I’m grateful to get to work with these incredibly dedicated, hard-working, and talented cabinet officials to serve the Commonwealth of Virginia.
richmond.com/opinion/column/…
Real Kelly E retweeted
This is the official White House outlet. Posting a clearly racist, demonizing, and dehumanizing picture. All to further stoke hatred and fear towards others.
Stop calling this administration Christian.
Stop calling this administration American.
They are white nationalists.
Real Kelly E retweeted
I hope people will study this clip to notice:
-- how Obama seems authentic and relatable without apologizing for his obvious intelligence or seeming to talk down.
-- how he adapts his speaking style to his audience.
-- how he invites his audience to live in the moment with him.
Very few people can do what he's doing here. Obama is a supreme political talent, and I hope the next generation of leaders is studying his every move, not just to imitate him, but to identify similar talents among themselves.
