Coming Around Again!

If ten years ago, on April 1, 2016, you had read any of these predictions, you would have considered them April Fools attempts…

A Way To Explain What A Transaction Catalyst Does For A Living!

Have you had the challenge of explaining to friends and family the role(s) you play in your career? How best do I explain the game of “Marry Money and Opportunity” in the world of alternative (non-traded) real estate securities? No analogy is perfect—much like most of life—but the world of opaque security transactions does mirror much of what…

Is what you see what you get?

What considerations are appropriate when investing in a package of real estate?  At United Dominion Realty Trust ("UDR") we would buy portfolios and companies, understanding that there was going to be some bad (“challenged properties”) in – or with - the good. 

Attention To The Foundation

Like PASSAGES (or SEASONS OF A MAN’S LIFE), there are stages of the realty cycle which are clean and clear and critical to address in a timely fashion. Without a firm foundation, we personally fall apart over time. In the life cycle of realty, there are certain stages which require shoring up for long-term survival of the asset and owner.

Thankfully, Nothing Lasts Forever!

CONCRETE 101

Cement, mixed with the right ratio of water and sand/aggregate, is step one in the creation of concrete. If the mix is properly placed, given sufficient time to cure when weather conditions are cooperative, the result is a firm, strong, long-lasting building material.

Micro Steps of Progress Can Be Inspired by Micro Information!

Mishmash is a (generally monthly) summary of small stuff which comes across my desk or forms in my head, which might be the key to unlock much bigger issues our readers are facing.

If You Don’t Know Where You Are Going, You May End Up Somewhere Else – Yogi Berra

“We have to clean up all our problems before we consider developing a strategic plan”. “We are already successful; why mess with something which is making us money”.

Help me to help you!

Do you want your realty portfolio/operating business to be better?

• Insights on how to improve employee performance

• Share secrets to reduce overhead and increase profits

• Learn from real-life personal successes & failures

Things which make me go “huh?”

SELF-LEADERSHIP

We cannot outsource our attitudes, values, behavior, or willingness to improve – Dr. Mary Kelly. She goes on to focus on whether we are “self-aware” (less than 15% are), which determines if we are receptive to constructive feedback as useful information. Ask how you make people feel!

Better Than My Used To

January is like the off-season for the Dallas Cowboys – everything is possible, no matter the reality!

At the end of each year, for now over 55 years, I generate from what I journal daily in a written log, a “Franklin T” of what went well and where I failed to make progress.

Best Stuff In My Files!

Hope your year is ending up well! 

It has been a great year helping with client “strategic growth” challenges and opportunities. “Transact, Transform, and Transition” has served well as my game plan for their success.

Buckle up, though, for 2026; it is going to be a WILD ride!

Good Short Insights

WHY BRING IN AN ‘EXPERT” WHEN YOU ALREADY KNOW EVERYTHING?

Sometimes an outside expert provides a fresh set of eyes. Sometimes, they just reflect to you what you already know. In theory, they will provide an unbiased assessment of your situation. 

IT DOESN’T ALL STAY

What happens in Las Vegas may well stay in Las Vegas.  But lessons learned linger for a long time.  Hope you find something interesting from my visits to Sin City. 

NON TRADED SECURITIES

ADISA is the “Alternative & Direct Investment Securities Association”.   I am a prior President of the group (2010 – 2011).

Half Thoughts and Lost in Files

My “clean out the files” days result in my favorite REALTY REALITY articles! None alone are going to move the needle; all deserve to see the light of day.

SENIOR HEALTH CARE FACILITIES. In 1985, a major national consulting firm affiliate of a major CPA firm project OUTRAGEOUS growth in the demand for Adult Congregate Care facilities.

Everything old is new again! 

Do you remember the hard lessons we learned following the 2008 collapse of the economy and the long multi-year slog following?

Our best hope is that the 9 – 12 months ahead will move quickly, each month covering what took years following 2008. There were (on average) 200,000 new jobs created per month; 100,000 in 2024.

Development has become the rage in light of unprecedented tax benefits (e.g. from investing capital gains into qualified opportunity zone funds). If the development / repositioning does not make clear sense WITHOUT the tax benefits, look for another opportunity. Put the project to the test before writing that check!

QOZFs are a powerful tool to attract capital gains proceeds to fund SOME of the equity requirements for rational development proposals focused on attractive, already gentrified neighborhoods. Will some equity find its way to urban and rural poor areas? Maybe, but so far, that is not where sponsors are locating their proposed transactions.

The potential for QOZF is huge, but only a few of the 300+ firms announcing funds will succeed in attracting sufficient equity capital to accomplish their goals. There are over a million parcels of land in the 8700 qualified opportunity zones. Only those local governments prepared to compete with additional incentives will overcome the investor/developer bias to locate where other successful businesses/real estate are already thriving.

History is no guaranty of the future. Good properties can be overcome with spill over neighborhood crime. Great sponsors can become addicted to money, power, prestige, alcohol, drugs, young women and gambling.

We all are touching the same real estate elephant at distinctly different points of the body. We all have a blindfold on (or at least blinders to the position of all others).

Recognize this one reality, and you will eliminate at least half of your frustration with the multiple levels of government you will need to complete your goal.