Allow me to introduce myself. Currently a NYC based development manager building institutional assets. Here to connect with others and discuss all things real estate and development related. Will be sharing thoughts I find interesting along the way.

Hey @hitsamty where’s the pod today? I’m waiting for my hit

I’ve achieved peak AI. My two excel workbooks are talking to each other solving problems for each other. I’m just hanging out watching.

waiting for the day that Argus lets me utilize Claude so I can upload a lease and it just models it for me.

Just used Claude for formatting. Investment banking analysts lives just got easier.

New use for Claude today - tying out settlement statements.

Just used Claude code for the first time. 10 hours of work compressed to 1.5 hours including writing the code. Next time I do this - 20 minutes. Wow is all I can say. Changing the game.

Learned about a new asset class yesterday. Spoke to someone who spent $500,000 to purchase a lot in an RV community in a nice area of Florida. Never knew condo RV parks were a thing. Not even beachfront.

Broker just told me the vibes on the ground are why I should pay more and that I need to ignore the data for rent comps. Gotta love the chutzpah.

Lots of different folks in lots of different areas of finance telling me mkts quiet. Real estate, hedge fund guys, PE, litigation finance ..going to maybe get interesting pretty soon. Not a positive or negative, just an interesting sentiment.

Always a great feeling when you email a trusted broker for some comps and they respond they are bidding on the deal too…

🙈 Just spent 1.5 hours typing up 2 LOIs. It’s pre formatted but I needed to add to one of them-it can take time. And what do you know - broker reaches out as I’m hitting send - they received a full price offer that got accepted. 24 hrs from inbound to LOI is sometimes too slow.

folks - I’ve been underwriting institutional deals for the last 10 years. Work at one of the largest devs in NYC. I’ve recently had friends ask me to build them models or assist with analysis. I’ve been toying w posting the models. Would anyone actually download these (free)?

Snail mail letters actually work. Handwritten letter to an owner I came across while trying to buy an industrial property nearby…got a call back 5 days later. Contact combat is the name of the game.

When an appraisal comes in high its instant equity and syndicators brag but when it comes in low it’s always wrong🤥

Friends: I’m in need of a General contractor introduction in Chicago for 50 units of new construction apartments. Does anyone have any contacts they can make an intro to?

My new favorite tool for analyzing a rural location - On the Map LODES from the Census

Told broker I was passing on an asset as it’s in a flood zone. Broker tried problem solving (which I appreciated) but his solution was a written statement from the seller that the asset hasn’t flooded under seller ownership! Love it! Totally gonna get me there.

Just had a seller tell me I am paying a 3 cap bc the air quality is just better in the mountains and people are moving here

Texas does it again. Just called an assessor office and got notice they are closed for the holiday….what holiday might you ask. Texas Independence Day. We don’t get that in Ny

Just joined the got blocked by stripmallguy club! Didn’t pass judgement on a strategy bc I don’t have enough info @RandallHouseRE and challenged stripmallguy that he wasn’t asking the right questions or enough questions to pass judgement. Crazy ppl will block you for disagreeing