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Brew

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Everything posted by Brew

  1. Hell, just do it assuming it makes sense for what you are looking for. You know the owner, you know the boat, you know the dock/area, for a partial interest that’s better than most deals you will find. You can rent small boats for day use all around south Florida which are cheaper than going guided once you know the area better. I would lean more towards a condo with a boat out back, but I’m not big on dock life at this point and I strictly sight fish so a big boat doesn’t make sense for me.
  2. On the things we finance, I just run an amortization schedule and give it to the buyer and they make the payments. I don’t think I’ve ever sent a monthly invoice on a seller financed property. I also don’t adjust for payments made early unless they make excess principal payments, then I just rerun the schedule and send it to them. If they do something like add $100 to every payment, I rerun the schedule at year end each year.
  3. Clearly an issue, now go into the reasons we have a supply problem. You know things like corporate ownership on an expanding scale, rising interest rate environment driving people to stay in their houses, changing tax policy, hell even the current political environment resulting in a shift in where people are living, etc.
  4. Yes, commercial bank debt. You can only hold a few mortgages. Technically, you can go to 10 I believe, but most people don’t qualify because the qualifications don’t change so every additional one makes the spread to qualify get more narrow. If everything is paid for, you can mortgage a few properties to provide buying opportunity, but you’re not getting to 75 (or even 25) without using bank side financing if you are financing.
  5. The auto industry is a terrible example of fund backed investment opportunities. The runway is too long for a typical PE type fund that is looking to return capital to investors in under 3 years. It might work for an institutional fund but the ability to make money operationally there is still a huge question mark. It comes down to whether you can get public interest behind you to cash out on a public offering which is a massive gamble. There is significantly more money in that space than ever before. We get emails daily from funds looking to make investments that are startups, known funds, and everything in between. I think I’ve talked to 10+ family offices in the last few months that are all 9-10 figure family offices making investments. There is too much money concentrated at the top of the system, so when you are competing with them on single family housing it’s a losing proposition.
  6. I deal with large investors often and have been in partnerships with 200+ single families at one point in time, but I don’t deal with institutional investors. Most of the time there is somewhere around a 2% minimum spread difference between owner financed using the mortgage market and investor financed using the bank side financing. There was definitely a run up in non institutional investors that we deal with purchasing when rates were lower because they could buy in the high 4’s / low 5’s on rates. That’s probably closer to an 8-9 today. That 2.75% rate should have expanded ownership opportunities, but instead inflation and supply issues offset the benefit.
  7. I don’t follow your logic here. It sounds like you are saying that institutional investors are having to go outside of typical investments because of lack of opportunity within the traditional space therefore they are chasing non-traditional investments. I don’t see that at all. The numbers on investments being made are up significantly. I would say it is more related to how much money is tied up in institutional investments whether PE, family office, retirement plans, etc that the massive wealth accumulation at that level along with a lot of other circumstances is driving the alternative investments.
  8. You do realize that people who own multiple homes and those owned within corporate environments aren’t getting 2.75% mortgages, right? You could technically have 10 mortgages, but I can’t say I have ever seen anyone qualify. Usually, once they are past a few then they are dealing with bank side financing, not traditional backed mortgages.
  9. Not at the same speed or at the same scale. Your last sentence isn’t true at all. Comparing access on the internet to TV isn’t even a comparison at this point. Having two daughters, the change in interaction in relationships is a huge concern. The internet tries to normalize some fucked up stuff.
  10. It’s all about the internet and the cultural changes it is driving. Look around, it’s not an anomaly.
  11. Eliminate the standard deduction (everyone itemizes), eliminate the SALT cap when itemizing, increase the use of homestead exemptions in states that don’t use it, reinstate first time home buyer credits, and build in a bigger spread on rates on government backed mortgages versus conventional financing. You aren’t putting the horse back in the barn on corporate ownership, but you can increase the incentives to individual ownership. Also, they might want to rethink that whole 21% corporate tax rate. These issues aren’t new, but they have been exacerbated by a certain piece of tax legislation in 2017 along with the high inflationary environment of this decade.
  12. If you have the means, go consult with a family law attorney and see what the options are. I don’t know shit about the legal system, but I remember at that age sitting in front of a judge and telling him which parent I wanted to live with and that’s who I lived with. The kid is old enough that there should be a way around the issue. Getting dad to relinquish his parental rights sounds like a problem, but at some point the circumstances of his upbringing should carry some weight. Doesn’t mean it will though.
  13. Daughter applied as an English major and got accepted pretty much everywhere. Others with higher ACT’s got rejected from the same schools. She is very involved and had great essays, but applying outside of business and a few other options definitely opens up more opportunities at the selective schools.
  14. If you aren’t getting accepted in state at UT, you’re aren’t going to make the cut out of state at Michigan today. Also, we toured it and were not fans of the campus layout. You don’t have the traditional campus setup like a lot of southern universities because of how the campus is laid out around Ann Arbor. Illinois is definitely worth a look. Near the top of the Big Ten in all rankings, decent campus, etc. We pushed our daughter to really consider it, but it was too far away from her friends ultimately. We also looked at Purdue and Indiana, but location killed them. Florida is worth considering if you are just looking at academics. Suprisingly, Clemson is also worth a look. They have a pretty strong honors college.
  15. Saw it Sunday, was well worth going to see. Enjoyable, summer movie that definitely played better in the theater than what it will at home.
  16. If you ever fly into Savannah, make sure to pay attention to the Air Force side of the runway. They had an assortment of the different jets the AF fly as well as a number of T-38 Talons and other planes. My pilot took his time on the approach to takeoff so we could check everything out. They also had a Sikorsky CH-53K sitting out there, it’s hard to believe how massive that helicopter is even sitting next to F-22’s and 35’s. This isn’t my picture, but this is what it looks like right off the edge of the runway except the planes are all newer versions.
  17. It’s not correct, nor anywhere near correct. I think the actual numbers on the bottom 50% of income earners is sub 5%. I even played with some data using taxpayers (eliminating those that pay no tax) and I don’t think you can get there although it is closer.
  18. Looks like a lot of tubing going on there.
  19. If you like the Voodoo flavoring, they are worth a try. They are very heavy on the seasoning with them. Honey Mustard ones were also good.
  20. Have you discovered Voodoo Pretzel Stix yet?
  21. No better time to visit Chicago than this time of year especially if you can catch the good weather days. Spent 4 days there last week with the kids around a concert one of them wanted to attend and had a great time as always. Spent one of the days looking at condos again as we’re still thinking about buying something to spend a little more time in the City and for our daughter to use during the summers. We’ll see where it goes.
  22. Looks like our oldest is locked into UGA. She ended up accepted everywhere she applied other than NYU. We preferred Illinois or Willam and Mary, but left it up to her to decide what was best for her. She will be in the honors program there as an out of state kid, so she is about as excited as she can be at this point.
  23. https://finance.yahoo.com/news/malibu-boats-comments-litigation-filed-213500077.html https://www.tradeonlytoday.com/manufacturers/lawsuit-filed-against-malibu-boats Interesting suit going on with Malibu and Tommy’s. Tommy’s side is that Malibu offered incentives that were never paid for them to increase their floor plan size and overstock slow moving high end boats to help their numbers. They are one of the larger boat dealership brands I know of. I’ve worked with them a few times in the past on buying or trying to buy. I also did not realize the other brands including the saltwater brands that Malibu had acquired over the years. With their large out of pocket settlement last year, things are bound to get interesting.
  24. Went to the Audi dealership Sunday (mid day) to look at a couple of SQ8’s. Kept hearing something over the PA system, so I walked back around where I could hear better and it was an announcement saying we were trespassing and the police had been notified. Security guys pulled up not long after and said they keep the entire dealership group under video security and notify the police if people are on the lot after hours. I told him he might want to tell someone to post a sign in the only place you can park to access the lots and save the hassle. I’m sure police weren’t notified, but the whole thing was dumb. She is eyeballing an Ineos now, we’ll see where that goes.
  25. I will say allowing this to play out in a thread is pretty shitty though. There is nothing positive for Derka that comes out of the slow burn. If you wanted to ban him, the best thing would have just been to ban him. Everyone knows his issues and this just feels like imma kicking him in the nuts a few times on the way out the door as he was never going quietly. He should have banned for some period, let things calm down, and then discuss whether he was coming back.
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