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4 Oct, 4 tweets, 1 min read
I like to keep around a list of things that I don't need more of, but often spend time chasing for one reason or another. 1.Small deals 2.Followers on Twitter 3. More investors for Harbor Capital.
I find myself chasing the items on this list because bring those lovely little dopamine hits when in reality we don't need more of them.
The theory of constraints is a great way to run a business, focus energy on the bottlenecks that are slowing you down.
It takes a lot of emotional maturity to step back far enough to see what the real bottlenecks are, and even more to focus energy on those. I am trying to get this right more often than I have been.

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More from @Levijameshere

Levi Profile picture
3 Oct
I often think about how to structure our real estate buys so that we can own them for the proverbial forever. 👇
When we sit down to set goals for the future none of them include rolling around in a bunch of cash on a mattress, but they all include owning billions worth of great cash flow generating real estate. 👇
I’ve been contemplating the best debt structures to use in order to achieve that goal. 👇
Read 11 tweets
Levi Profile picture
27 Sep
Posted a while back about our hiring funnel. -> Website says we aren’t hiring but for the right person we might consider it. 500 word essay to explain why we should talk to you.
Over 100 essays so far, most are trashed immediately as they just aren’t interesting. 3 have been very good and got to round two.
Round two is a model with one question. “What’s wrong with this model”. Most don’t respond.
Read 8 tweets
Levi Profile picture
25 Sep
Thinking about investing in real estate and don’t know what kind of property to buy? Take a look at industrial assets in growing cities. Here is a 🧵about one deal I own that is like an ATM machine. 👇
Many industrial properties are trading for far below replacement cost and yet offer functionally the same value to tenants as a new building would which means you can earn great returns if you buy smart.
Industrial vacancies are shrinking in most markets with population growth and yet most investors ignore the space which means opportunities still exist for great buys.
Read 17 tweets
Levi Profile picture
22 Sep
Serious question here for real estate GPs and LPs: Should long term hold GPs stop modeling out 10+ years and just focus instead on the quality of the asset and the Un-levered yield on cost?
I had a conversation with @moseskagan several months back in Austin and he told me that they model the first year only and it’s stuck with me. Honestly I thought he was crazy at first, but I think he might be on to something.
We all know that the likelihood that your model is correct is near zero. And the further out it goes the less accurate it gets.
Read 8 tweets
Levi Profile picture
21 Sep
In 2001 I decided it was time to go big and try and raise $600k for my first raw-land development deal.

I was 20 and knew literally nothing.

I wrote a 🧵 about how that circus went down. 👇
The deal was a 7.2-acre farmland tract that I had in contract for $530,000. My plan was to subdivide the land into 33 single family residential lots and to sell it to one of the big builders in the area.
Through a friend I found out about Rick, an "eccentric and super wealthy" investor who agreed to give me an hour to pitch my deal"
Read 26 tweets
Levi Profile picture
18 Sep
It’s crazy that you could be about to make the worst choice of your life and nothing would stop you. Not even a little popup to ask “are you sure you want to do that?”
I love this little corner of Twitter we call RETwit. My hope for this community is that we can all be a resource for each other. A safe place to bounce ideas and make each other better for it.
At our best we could be Clippy the paper clip for other investors. “It looks like you are trying to design a six unit apartment, have you met @bobbyfijan?”
Read 5 tweets

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