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tbone_

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Everything posted by tbone_

  1. We are a big apartment developer. We’ve been telling subs and vendors to bend over and reduce pricing for 2+ years now. And it’s working. Our total cost per unit on new projects is down significantly vs projects we started 15 months ago. That’s how we’re getting deals capitalized. In the apartment game, the fuck you response will put you out of businesses. Starts are off 50-75% in most markets. We had a meeting with one of our biggest GC’s a while back when interest rates rose. JP Morgan had just bailed on a job for us as equity despite having a signed term sheet. I stood up in front of 20 people at their office and walked through the math on a white board as to why something seemingly as innocuous as the 10 year jumping from 1.5 to 4 meant every line item in their budget had to come down 20-30%. And that every deal the thought they had in their pipeline was gone. This was in summer 2022. This group understood, got on board with us, and drank the koolaide on cost reductions with us. We’ve been able to keep each other in business the last three years because of it. I suspect homebuilding isn’t far behind.
  2. We have two apartment projects closing equity and debt this month and starting construction. The amount of time we’ve been negotiating to deal with potential tariffs among our partners, lenders, and contractors is ridiculous. Thanks a lot dickhead. That said, we did issue an NTP to one of our contractors to buy out the lumber package. We locked in a lumber contract at $1.1M under budget. Because the subs are hungry. Which sounds good until prices spike, and the sub comes to us and says hey sorry I didn’t lock in at the old pricing and now I will go bankrupt if I have to pay this higher pricing so here’s your change order. Again, thanks a lot dickhead.
  3. Maybe we should miss a payment, let the market tank, buy it all back on the cheap. Then start making payments again. US bonds would still be the best relative alternative there is.
  4. That should make a lot of sense to the first grader
  5. He’s just a fucking cunt. No way around it.
  6. In other James Bond theme song news, the other day I learned that Jimmy Page and John Paul Jones played on the Goldfinger theme song. Maybe they will show at the celebration.
  7. Tebow was legit. But he couldn’t carry Vince Young’s jock when it came to making plays.
  8. Been listening to a Chris Stapleton station on Pandora today. This will come as news to exactly no one on this thread, but holy shit that guy is good. Just fantastic song after fantastic song after fantastic song with zero weak spots. Ok, carry on.
  9. Number of the Beast is their number one for me.
  10. I think it’s because this will never not be awesome
  11. I would have banged your sister in hs
  12. I don’t know what this means Also, this seems like it should be awesome https://axs.tv/news-story/iron-maiden-officially-announces-documentary-film-set-for-2025/?fbclid=IwZXh0bgNhZW0CMTEAAR0xWYRjDve5oFKoaemwTepoldIgdDXiNIBAjlmaCKWoX6InQDz7fXkpGgk_aem_VkPMayALncnmRBjnUN4rSQ
  13. What do you have against making America great again?
  14. Well lots of people hate that fucking Nazi so yea
  15. They also had some non awesome broads
  16. Obama, Biden, Ukraine, Canada, Mexico, Fentanyl, the EU, NATO, China, Russia, The Left, federal government workers, millionaires in congress, The Deep State, rigged elections, cities and states run by Democrats, Democrats….. take your pick
  17. How’s things these days man?
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