What are your top 2 work-for-yourself ideas in RE under ideal circumstances?
What are the top 2 work-for-yourself ideas you would do in RE if you had the money, time, and the overall opportunity?
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put my last name in the skyline of every major city
Legend
Ground up development of apartments across the sun belt, or buy existing and renovate & operate
Always appreciate a big dreamer
.
Interested to see people's thoughts here!
syndicate and eat fees for breakfast lunch and dinner
You must be with Brightcove Investments
I’ve got second hand embarrassment for anyone that calls themselves a syndicator
Develop some sort of software/online platform that solves an issue currently plaguing this industry, whatever that might be... 👀
Own strip mall retail centers as a small time landlord until I'm able to parlay that equity into a JV ground-up development of a retail/hotel/casino/mixed-use project.
Owning and operating full service 5 star luxury hotels + 10,000 USD a night level.
Single market expert. Not bound by product type. Can buy existing or development deals.
If you need a 2nd and I have the theoretical money- resort/country clubs. Hold the best ones forever.
I’d love to figure out how to make modular work here in the states.
It can work. I’ve been working on a modular MF development and it works at scale. It’s not necessarily any cheaper but it does take a lot of labor risk out of the equation- not as much of an issue as it was last year but still. It’s also quite a bit faster in many cases.
I have many but I’ll share this one because I know it will never happen. Create software that would be used nation wide for LIHTC processes to capture data information from initial application, closing with equity and debt, construction draws, soft funding when needed without having to fill out multiple applications, and final application for 8609s. All this would done in an effort to standardize an industry the very inefficient. The data would help us better understand cost deviation from initial underwriting to stabilization, real time cost across different areas of the country, why deals are over sourced, why deals are under sourced.
Lastly and most importantly standardize an industry so that skill can be more transferable from state to state, allowing people in this industry to focus on ultimate mission. Bodies in homes.
These are interesting ideas. But certainly the technology exists to do this, AI is certainly capable of all this and I've thought about these kinds of applications as well. So why not go do it?
Surely you could probably create an AI program that would take your underwriting and populate any given LIHTC application. As someone who has spent a lot of time putting together and then re-editing PDFs for NYC housing authorities in advance of closing, this is a time savings of tens of hours for each project on just this one function alone.
And I think the skills are already transferable. The part that doesn't translate from Florida to California is an understanding of the politics, which no computer program will ever be able to simplify.
Fair assessment. The reason I wouldn’t go for it is because of the politics. This would take buy-in from multiple levels.
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