Years ago I started a beef feedlot and slaughterhouse in Ethiopia. It was a for-profit business but would provide jobs and a market for people who had none.

The only way to scale the business was to grow our own corn for feed, and we needed a HUGE amount of land to do it on.👇
All of the usual routes to get that land were dead ends, so I decided I would try to go straight to the Prime Minister.

Problem was I didn’t have any connections to him. So I wrote a compelling letter and got some fancy looking folders made with our logo on them.
I found out where the visitor entrance to the palace was and went there every day for 16 days. Each time I would drop off a new version of the letter with a bit more info about us. Eventually there were enough of my letters on his desk that he picked up the phone and called me.
It was 10 PM when he called, but he was the nicest guy. He said he was excited about what my company would do for the country and wanted to give me the land I needed. “How much land do you want?” He asked at the end of the call.
I knew of a parcel that the government owned that was 8000 acres. I told him I wanted that one. “The whole thing” “yes sir” I replied. The next day someone from his office called me to tell me that he has been tasked with changing the name on the title of the land over to me.
Moral of the story. Be unashamedly persistent. It was absurd to go to the PM, it was even more absurd to drop off a letter every day, but it got his attention and got me the 8000 acres of land that I wanted for free.

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More from @Levijameshere

8 Jan
In 2021 Harbor Capital acquired $28M of industrial R/E in Texas. Our latest offering raised $10.8M of equity in 9 minutes.

Here is the definitive playbook on how to raise equity to buy real estate.

This is not a list of hacks or shortcuts, just the right way to do things.
Before we start, let’s address the 🐘: Not everyone has the same starting line in this race. Some have family $ or connections that will help them get out ahead. Yet, over time, every operator will get the investors they deserve. Do things right and the $ will find you.
1 Operate with integrity - A GP has many opportunities to hide little facts or make things sound better than they really are. Don’t go down that dark road, even though it may make life easier in the short term. Investors can sniff that crap out and won’t work with you again.
Read 22 tweets
19 Dec 21
How I spent $75k to learn a real estate lesson I will never forget.

A short (and painful)🧵…
1/ In 2006 I put an offer in on a vacant multi family lot downtown.

It was 27k square feet and in a great part of the city.
2/ The seller was well known for being a ruthless jerk to work with but I wasn’t partnering with him so…
Read 12 tweets
15 Dec 21
There is this fantastic lie out there that says the real estate market is perfectly efficient and most existing assets trade for their intrinsic value.

The truth is that the buyers who are hustling and reaching out directly to sellers are buying extraordinary deals every day.
For example, we bought a building back in November for $3.2M, we are in the process of re-leasing it to a new tenant at a price that will make it worth $5M+/-.
We are closing next week on a building for $5.8M that is vacant and market rents are $535k per year NNN in a market that is 96% leased up. We are literally buying a Class A, 2016 build industrial building at a 9 cap. (Not to mention the free lot next door that we are getting too)
Read 6 tweets
14 Dec 21
The next real estate downturn is not a matter of "if", it's "when".

I don't know more than the next guy about when the must will stop, but I do know is that there are ways that you can be prepared.

Here are 10 things that you can do to be ready 👇
1* Keep an oversized reserve fund for every asset.

Right now cash is plentiful, when things turn it will feel impossible to find the cash you need. Stockpile generously, and be willing to accept the lower returns.
2* Buy assets in areas that are organically growing.

Phoenix in the early 2000s was booming, turns out much of it was speculative buying by investors. Make sure the growth trend is going up long term, and that there are real warm bodies choosing to relocate there.
Read 12 tweets
28 Nov 21
I have bought and built $400M of real estate from Addis Ababa to Austin.

After a few epic strike outs early on I began recording the lessons I learned to avoid repeat mistakes.

Here are 30 simple lessons for success in business & life. 👇
A great life is about doing meaningful things with people you love. Optimize for this and you can’t fail.
Your integrity is more important than your popularity.
Read 34 tweets
10 Nov 21
Harbor Capital set our target for 2022 acquisitions and I am pretty amped about it. 🚀 I shared the goal with our investors in an email titled: "The relentless pursuit of a market-beating strategy" I started out by telling some of my story. Here is a shortened version. 👇
In 2019, I decided to sell off my position in a large multi-family development company along with a slew of other assets and businesses that I had started.
I wanted to direct all my energy toward building a hyper-focused industrial real estate investment firm that would own and operate a portfolio of real estate assets to beat the market for myself and our investors.
Read 17 tweets

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