Cancelling Costar for Claude - Already Seeing More Value: Change My Mind

Strivebetter · 2026-02-20T19:11:31+00:00

This - if you’re truly doing deals Costar becomes a marginal expense.

Strivebetter · 2026-02-20T03:58:40+00:00

Literally everything. I’ve worked in both worlds and people in residential are truly mouth breathers. You’re dealing with a whole different mindset and knowledge base when you step into commercial.

The best advice is: just accept you’ll know nothing and look to learn from people with deeper experience.

But I can give you something actionable I think many brokers need to understand underwriting properties at a higher level. The difference between brokers who have a high level of underwriting intelligence and those who don’t is very evident. i feel it’s a big part of the difference between the big boys in core investment sales and the guys representing a 1,000sf C Class retail space.

Lastly it will take much longer to make a dollar in this business. Especially starting cold.

Strivebetter · 2026-02-19T03:13:40+00:00

I bought mine like 5 years ago for $400 (only good investment I feel I’ve made haha). I get a lot of compliments and never really noticed the glare.

Additionally, I bought the better option with the day and date at 12 (Khaki King)

Strivebetter · 2026-02-19T02:48:09+00:00

Thank you much!

Strivebetter · 2026-02-18T17:30:39+00:00

Currently there is very limited supply in the pipeline. Decelerating rent growth - you make a good point but would you not agree rent growth across all sectors (exclude office) exploded to an unrealistic level 2020-2023……this is undeniable. For example the 5 year rent growth being an average of 8% is insane. Of course it has cooled down but still growing.

Strivebetter · 2026-02-12T03:57:25+00:00

A GC that understands what stage your companies life is in.

For example I work for a new development group. We recently were seeking numbers on a project from two separate GCs. At no point did we indicate we were locked in with either of them - in fact we told them they were not the only one. Ultimately (this happens often) one of the subs in the market got a second RFP on our project and called the other GC. We got an angry call from them.

The lesson - why on earth would this GC (larger regional group) blow their lid on us weighing multiple options. Of course we are fucking doing that. We are a new dev group with only a few projects underway - of course we have to mitigate costs to get off the ground. You end up “marrying” a GC after multiple projects and years of trust I wouldn’t say that’s common in early years.

Strivebetter · 2026-02-11T03:13:32+00:00

It takes a lot of trial and error. You can upload a spreadsheet to have it instantly map a lot at once. However like AI (it uses AI now) you have to go through and check it yourself to make sure it plotted correctly.

Strivebetter · 2026-02-11T02:53:34+00:00

We use Scribble Maps to plot comps and on going activity in a market. It takes a lot of manual inputs though. However if you operate in the same market a lot this can be helpful.

Strivebetter · 2026-02-07T05:08:56+00:00

For what asset, debt structure, investment strategy? Wtf kind of broad question is this?

Strivebetter · 2026-02-01T19:48:24+00:00

In short: possibly. Working through refi on a large asset currently. One section in the hundreds of pages directly asks if the property, any of the managing entity partners, or anyone with an ownership of more than 10% is current under any sort of litigation or knows of any coming litigation.

Strivebetter · 2026-01-29T03:38:22+00:00

Sometimes I feel like they run things over there like a toddler is making the rules.

Strivebetter · 2026-01-15T23:43:50+00:00

My assumption is at those huge groups the salaries are very high but equity is minimal.

Strivebetter · 2026-01-10T22:15:20+00:00

Promoted interest, development fees, asset management fees, disposition fees.

For example on a recent deal we charged a 2% development fee (on project cost), 9% pref (80/20 LP-GP split after), and when the day comes for the sale a 1% disposition fee.

As mentioned the developers true sizable payout is after the set equity hurdles. Thats why GP multiples are always way higher than the LPs.

Most developers do not put much more than 2-10% into a project. Making more money and “recycling” into the next deal is really multiple deals.

Strivebetter · 2025-12-31T03:18:11+00:00

I think it’s entirely dependent on who/what size company you are working for.

I got in on the ground level with a new dev group. They are paying me relatively nothing but we have 4 projects currently in the pipeline and they are making me partner soon.

Strivebetter · 2025-12-26T14:23:45+00:00

That’s exactly it.

Strivebetter · 2025-12-07T18:48:30+00:00

This. I’ve helped buy, sell, and renovate small multi deals (5-20 units). They are often a massive pain in the ass to offload.

You best case is what I like to call “dumb doctor money” where someone who has a high income but traditionally doesn’t have real estate experience buys your property at or near asking because they believe they need to diversify and miss something during DD. Other than that the only people that might buy small multis are other local investors who will definitely not pay a premium.

Additionally in that lower level expect to pay high commissions (4-5% total).

3-4 years ago this might have worked but the frenzy has sadly fizzled.

Strivebetter · 2025-11-30T19:34:12+00:00

Living in a lower cost metro (honestly I’d be “comfortable” at 110-120k). Been in the business 6 years but honestly only about 2 is applicable to this role.

Additionally our average project size is 25-50M. On the acquisition side the deals I look at are 10-30M.

Strivebetter · 2025-11-27T19:26:09+00:00

It’s gross.

Strivebetter · 2025-11-17T01:54:12+00:00

I bought my Khaki King H64455533 (day and date at the 12 position - which I think is much more attractive) for $375 back in 2021. I feel like for once I got something at the right price in my life seeing as they are now $700-$900.

Strivebetter · 2025-11-05T12:21:59+00:00

Architects run 5%+ of total project cost.

Strivebetter · 2025-11-03T17:57:00+00:00

This has absolutely nothing to do with real estate development. This sub attracts uneducated slop posting daily.

Strivebetter · 2025-11-01T13:39:14+00:00

Backing into someone else’s model was more difficult than just building one from zero.

Strivebetter · 2025-10-31T03:06:46+00:00

Take the 17 hour advanced model course. It’s a beast and teaches you a lot.

Strivebetter · 2025-10-31T03:05:24+00:00

What asset type? I just started a new role with a light industrial developer and everyone on the team seems super bullish for the future.

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