3 Tweet Sunday - June 9, 2024
3 Tweet Sunday - June 9, 2024
🏠 3 Tweet Sunday 🏠
I came, I saw, I conquered. Buenos Aires has been fun. Time to go back home, and finish conquering Phoenix. I can’t help but feel fear in the back of my mind. I have to recreate myself. What if I can’t meet my lofty expectations? To paraphrase Paulie “Walnuts” Gualtieri - So what? You keep on moving.
I took out a piece of paper yesterday, and wrote down my new goals/to do list. It started out great. The list had 4 to do items. Very manageable. Now it is at 12. It will probably be at 20 by the time I get on the plane. I just watched an interview about this baller $100 million real estate guy. He immigrated from Vietnam in the 70s. His English still isn’t the greatest. One part of the interview stuck out to me. He crushed it in real estate, because he did one thing. Not 12 things. One thing. He started out as a realtor, and knocked 100 doors a day. Imagine doing one thing 15 hours a day for 10 years. How would you not be successful? Gary Keller talks about this in his book, The One Thing. Keller says as adults everything becomes important, and we treat every task equally. But all tasks are not equal. We write massive to do lists filled with garbage (I double check mine as I type this). He says your to do list can start out big, but get rid of everything, until you have the most important thing. Then do that thing.
Let’s get to it:
#1 🏠
A midwest developer group bought this abandoned baseball stadium in Indianapolis for $1. They spent $14 million to convert it into a 138 unit apartment building called Stadium Lofts. Apparently they made fat stacks in the process. You should check out the video and article on CNBC. This place looks sweet.
#2 🏠
7 beds and 7 baths? Would this make money as an Airbnb? I would stay at a castle. Although, I don’t see myself going to Cleveland anytime soon, so maybe that is part of it. The first comment on the Tweet says that’s like getting a free boat in a desert. I wonder if maintenance is crazy expensive. Sadly, the property appears to be under contract now.
#3 🏠
I can fit an ADU in my backyard, so I keep thinking about getting one. It would be nice if they were cheaper, and easy to finance. Google tells me cost per sf could vary from $100 to $300. You can buy an actual house in AZ for $300 sf, so that seems steep. A random guy on Reddit says 670 sf ADU garage conversion spent $110k rents for $2100. Boxabl’s website says their Casita costs $60k. But that doesn’t include permitting, taxes, transport, and installation. I’ll do some research and report back. $110k is a lot, but I would like someone to pay me $2100 per month.