About me: 18 years as a real estate appraiser, 8,000+ appraisals performed. 70+ successful real estate flips valued at $40,000,000+. Personal goal of holding 50+ rentals and paying them all off for retirement. I try to provide a unique, inside look at real estate and share any tips I get along the way.
think like a real estate appraiser retweeted
U.S. inflation has now been above the Fed’s 2% target for 66 straight months, more than five years.
It’s only the third time in the past century that inflation has stayed above 2% for at least five years, per Bespoke Investment Group.
A close friend of mine bought hundreds of homes back in 2010 through 2014
I’ll never forget the story he told me
Four bedroom house in Riverside was listed for $135,000 (1600sf)
He decided to offer $85,000
Listing agent told him to F off screamed at him, scream scream scream slammed the phone down and hung up
Fast-forward 60 days
Listing agent calls back and says “hey will you do $86,000?”
He closed it all cash in two weeks
Today it’s worth about $600,000
If you make an offer and they say no, you are in the exact same position you were before you made the offer
Make the offer, just make the offer, who cares if they say no
They just might accidentally say yes
Replying to @BigPaperCarry
Not sure where you are, but make some crazy offers and just keep offering and keep offering and keep offering
You might have to make 100 offers, but you’ll get something crazy eventually
Eventually, you having cash and a desperate seller needing to sell
Eventually, you will steal something
think like a real estate appraiser retweeted
Our family is buying an apartment in New York City, and I wanted to understand the likelihood of new buildings going up that might block our views.
I spoke to our attorney about it, and he explained that it was actually a pretty complicated and expensive process. I’d need to hire an architect to do a bunch of in-depth research, and that it could take a while.
Instead, I decided to call Bob Knakal and share my dilemma with him.
He immediately walked me through every single parcel that could potentially impact our views, who the owners were, the likelihood of development, which parcels he predicted would be developed, when, and why.
It was surreal, and the information was far better than anything I could have possibly found anywhere else!
There’s a reason he’s the greatest commercial real estate broker in history.
The legend of @BobKnakal
think like a real estate appraiser retweeted
I’ve been telling people it’s a buyers market. Just lowball!
My friend told me he just bought a house in Vegas that would have sold for $450k 4 years ago for $275k
1600 SF
Nice house, he’s keeping as a rental
He also bought 10 detached small apts in LA for $1,000,000 ($100k PER DOOR!) all 1 and 2 bed apts, easily 50% off from a few years ago
Buyers call the shots! Make LOW offers
Now is an investor’s time to shine
Get fired up! Go make offers!
You should be so excited right now, now is our chance
Kick ASS today!! 🍻
Make more offers, get more/better deals
That’s how this works, there are no secrets
My friend told me he just bought a house in Vegas that would have sold for $450k 4 years ago for $275k
1600 SF
Nice house, he’s keeping as a rental
He also bought 10 detached small apts in LA for $1,000,000 ($100k PER DOOR!) all 1 and 2 bed apts, easily 50% off from a few years ago
Buyers call the shots! Make LOW offers
Now is an investor’s time to shine
Get fired up! Go make offers!
You should be so excited right now, now is our chance
Kick ASS today!! 🍻
Make more offers, get more/better deals
That’s how this works, there are no secrets
$AMD became a huge part of my portfolio, so everything hinges on that company doing well
Like for example, yesterday when I went down 8% I was down almost $40,000
But if it goes up, I’m happy
Just depends on your risk tolerance , and your access to antidepressants
I offered to take all mail ballots to the post office for all my neighbors and threw away the ones I thought would vote differently than me
think like a real estate appraiser retweeted
this Austin startup (founded by an ex-SpaceX engineer) just figured out how to build your house for HALF the cost
when Elon talks about abundance and money becoming irrelevant in the future, this is what he means
the trick is building the house in a factory instead of onsite:
> machines make every wall, floor and roof panel, plus your kitchens and bathrooms
> the whole house packs into 4 shipping containers and gets trucked to your plot of land
> the crew snaps it together on site in days, with about 1/10th (!!) the labor of a normal build
right now this is just one small factory in Texas
now imagine 10 years from now, when there are 10s of millions of robots around the world constructing stuff 24/7
building is about 64% of what a new home costs in America (the land is only about 14%).
so if you take most of that away, a house starts to cost more like a car
and housing is the biggest bill most people will ever pay.
once that gets cheap, and the same robots start making everything else cheap too, you can just get whatever you want
welcome to superabundance my friend
A Step-by-Step Economic Strategy to Fix Housing
1. Reform Zoning and Land-Use Laws
2. Streamline Permitting and Reduce Regulatory Headaches
3. Incentivize and Modernize Construction
—- Target Tax Credits for Starters:
Expand the Low-Income Housing Tax Credit
4. Balance Demand-Side Support Wisely
5. ?
Make some offers on fixer uppers today.
See if you can find a good deal in your local market
Make it a great day.
think like a real estate appraiser retweeted
On Christmas Day 2002 a West Virginia man won $315 million. A few years later he said he wished he had torn up the ticket.
He was 55, a contractor who had built his own company and was already worth more than $17 million.
On Christmas Eve 2002 he stopped at a store in Hurricane, West Virginia, and bought a Powerball ticket. The next night it hit. $314.9 million, at the time the biggest jackpot ever won on a single ticket in America.
He took the cash. About $113 million after taxes.
At first he did what a good man would do. He pledged 10% to churches. He put $14 million into a foundation. He bought the deli manager who sold him the ticket a house, a Jeep and a check for $44,000.
Then the money started pulling in the wrong people.
In 2003 thieves took $545,000 in cash from his car outside a strip club. Asked why he carried that much, he said: “Because I can.”
His granddaughter Brandi was the light of his life. He gave her about $2,000 a week. At 17 she had four cars.
New friends came. Then drugs. Her boyfriend was found dead of an overdose in one of her grandfather’s houses.
A few months later Brandi disappeared. On December 20, 2004, she was found dead, wrapped in a plastic sheet behind a junked van.
“My granddaughter’s dead probably because of the money,” he said.
His wife said she wished she had torn up the ticket. He said he wished the same.
His daughter died in 2009. His house burned down in 2016. He died in 2020.
“I don’t like what I’ve become,” he said.
His name was Jack Whittaker.
Would you still take the $315 million? Yes or no.















