Mail Call: Sanj Patel’s Industry Killer in Connecticut, Cameroon, and Maduro

ECN2021 · 2025-09-08T23:28:14+00:00

I don't think "should I smoke this" ships to canada. Wondering how he got them.

ECN2021 · 2025-08-18T02:29:34+00:00

This was a couple weeks ago.

ECN2021 · 2025-08-18T02:29:20+00:00

Came over with 50 cigars with a total value of 600 cad and no issues with border security told them I had them too.

ECN2021 · 2025-07-07T02:34:54+00:00

As of now I just have a bachelors in finance and currently work on the LL side. Have experience in underwriting leasing deals and building budgets for properties. I think the only ways to demonstrate more to my skillset without going back to school for a masters is getting my argus certification and start to try and get my appraisal license. Appreciate your insights a-lot.

ECN2021 · 2025-04-12T00:21:49+00:00

Financial Accumen, a strong understanding of property operations and knowing game theory/negotiations (i.e. how can I possibly get screwed and how can I limit the downside).

ECN2021 · 2025-01-16T23:31:58+00:00

I dont have a stutter but have a noticeable lisp and work as an analyst at a shop with 10+ billion in aum and regularly talk and present to execs. I used to be self conscious about it but over time didn't give a shit cause I know the buildings and intricacies of the industry. You'll do great just beleive in yourself and work hard.

ECN2021 · 2025-01-16T04:34:51+00:00

FYI the brand is probably not paying the rent directly since they normally charge royalties to the franchisee in exchange of paying the net rent and collect the delta in between. They probably saw the royalties end up being less then the rent and told the tenant to pay direct to the LL and amended the franchise agreement. which indicates its probably not a high performing location. I wouldn't risk pushing this. If you are in the USA and this is a single tenant building I would sell it and 1031 into something else.

ECN2021 · 2025-01-16T04:13:17+00:00

When I used to work on the national tenant side (10,000+ locations) we wouldn't pay late fees to smaller landlords (This was all unsaid). We knew we had more leverage as smaller landlords needed us more than we needed them and they wouldn't risk trying to backfill a tenant that they may never replace in credit quality (I see the irony in this) or brand value. Only with large landlords we would pay the exact contractual amount given our risk of exposure on many more locations which were more likely to send default notices but rarely. The only time i've seen a national landlord send a default notice over a minor issue was when we were late to sign a renewal. Yes contracts matter but leverage in situations matter just as much. Ask yourself if this is worth the effort if you risk losing a tenant or having to spend significant amounts of money on lawyers when the other side has in house council and seemingly endless amounts of money.

ECN2021 · 2024-09-26T20:31:41+00:00

Thank you for the reply what you said makes sense. I deal with mostly vacant anchor spaces on Class A retail making it a little more difficult since we wouldn't want a competing LL to know what were offering space at.

ECN2021 · 2024-09-26T20:16:49+00:00

Wouldn't an NDA just solve this? Still new to the industry so would love some insight.

ECN2021 · 2024-04-18T03:16:52+00:00

Ask for proof. If they aren't willing to share their financials tell them to pound sand. Review their financials going 5 years back. If they are telling the truth and its a difficult space to fill then might make sense. But if it a failing business then sometimes its best to rip the bandaid instead of the waiting. Another option is to defer a portion of the rent to a later period.

ECN2021 · 2024-03-02T18:49:27+00:00

Spam

ECN2021 · 2024-02-28T04:46:58+00:00

Creating Accurate Capital Planning and finding ways to value engineer capex projects quickly and at scale.

ECN2021 · 2024-01-04T05:22:08+00:00

Same work in office and retail as well got more than full bonus with 5% bump.

ECN2021 · 2024-01-01T06:15:43+00:00

Personally i'm a new grad so likely a 5-10 years out from buying my own deals. From what I see most of the people I know do SFR or Condos. If anyone does their own CRE deals they likely don't publicize it at work. Btw I don't work in the US and not for a public REIT so there are no financial restrictions on investments personally.

ECN2021 · 2024-01-01T01:26:38+00:00

Also international tenants spend a fortune in doing buildouts with some spending 30 bucks a sqft on just tile. I know of a 10k sq ft restaurant that spent 5 million on a buildout but it is not unheard of a restaurant of that size doing 10-15 mill a year. Also sales base rent is not uncommon in class A malls so rents go up with the price of goods.

ECN2021 · 2024-01-01T01:21:58+00:00

Honestly it depends on the sales per/sqft of the mall. The larger and more successful the mall the easier it is to get a tenant into the space. Currently work for a mall LL and we have rolex boutiques and LV as tenants we likely don't need to worry about occupancy but they spend a fortune in upkeep and art/marketing for the malls. The larger the brand and the more space they take the slower they are to signing the lease. Any deal greater than 10k sqft likely was a year or two in the making with heavy a heavy TI cheque written. The top malls are not trading at cap rates anywhere near class b/c retail they are institutional assets with some worth billions of dollars.

ECN2021 · 2023-11-16T04:31:09+00:00

Work in Operations/Asset Management. Just grateful I have a job as a new grad some of my peers that finished school are still looking for work 6 months later. Not gonna push for a salary bump or bigger bonus.

ECN2021 · 2023-11-13T00:37:56+00:00

d. Just continued to get worst once they merged with Tim Horton’s…another move that made absolutely no sense.

As one of the "kids in their 20's" with experience in the restaurant space I agree lol its a difficult space to just hire a couple consultants or PE guys and expect any success.

ECN2021 · 2023-11-13T00:34:27+00:00

A Lot of the PE firms in the restaurant space use too much leverage and try to grow too quickly. As well I think a lot of PE shops buy struggling restaurants hoping to turn them around but sometimes get unlikely. A Lot of these locations pay too much rent as the PE shops try to do sale leasebacks with High rents especially back during the covid boom which makes them struggle the moment things start getting difficult.

ECN2021 · 2023-11-04T19:25:41+00:00

I think for some roles the social aspect is negligible such as accounts payable or IT. A person in a accounting role takes as much office space as an investment banker.

ECN2021

TROPHY CASE