fareastwarriors

Looking at Class C apartments, not even a SFH in a B neighborhood? Geez. I'm over in the East Bay so the world is not as crazy as SF. I rented out a 2bed/1bath unit back in August for $1,900. It's completely renovated. Pre-pandemic I was hoping to rent at $2,300-2,400 but I was getting little to no inquiries at $2,400 in June. Once I lowered it to $1,900, I had plenty of candidates. Price matters.

Have definitely thought about it. However, I'm not sure What to start. What about you?

Google will try ‘hybrid’ work-from-home models, as most employees don’t want to come in every day https://www.cnbc.com/2020/09/23/google-ceo-sundar-pichai-considering-hybrid-work-from-home-models.html more WFH days, not WFH forever...Make sense.

+1, 0-7% discount to NAV at 10-6% cap, value of EQC increases as real estate stocks/private market goes down. there’s like $300B of RE PE dry powder, but I think a single deal $2.8B cash pile + equity group backing is unique. The biggest tail risk I see is them doing a poorly received deal with another one of my holdings and I find I own too much of one thing. This is probably me just being paranoid because I’m dipping into the cash/bond allocation to buy EQC. Nice. Added a bit to EQC and smaller bit to EQR

I get it. But I stopped selling and used a reasonable amount of margin instead. Working well so far. 8)

Muddy Waters' Carson Block to roll out internet TV channel for short selling https://www.reuters.com/article/us-usa-stocks-muddywaters-tv/muddy-waters-carson-block-to-roll-out-internet-tv-channel-for-short-selling-idUSKCN26D2WJ

All the times I sold stock to buy real estate, it turned out that I was considerably better off holding on to those stocks... sigh :-\

Bit of BAC

Occidental to Pay Buffett Dividend in Cash, Signaling Confidence Shale explorer was making payments to billionaire in shares Debt-laden Occidental hit harder than many by 2020 oil crash https://www.bloomberg.com/news/articles/2020-09-21/occidental-to-pay-buffett-dividend-in-cash-signaling-confidence

I use Robinhood because it's so easy. I only do small fun trades on it though. The bigger positions are at Interactive. Need those cheap margin rates!

while this does not affect the 2,3,5 year outcome of office REITs, I am surprised they didn't trade down on this. It’s an awful headline / data point. Wall Street Return-to-Work Push Finds Virus Won’t Cooperate New infections crop up at Goldman Sachs, JPMorgan, Barclays Executives fear productivity and company culture is suffering https://www.bloomberg.com/news/articles/2020-09-18/wall-street-s-return-to-office-push-finds-virus-won-t-cooperate?srnd=premium

The Inside Story Of Robinhood’s Billionaire Founders, Option Kid Cowboys And The Wall Street Sharks That Feed On Them https://www.forbes.com/sites/jeffkauflin/2020/08/19/the-inside-story-of-robinhoods-billionaire-founders-option-kid-cowboys-and-the-wall-street-sharks-that-feed-on-them/#33c875d6268d

https://therealdeal.com/2020/09/18/700m-seattle-office-tower-buy-would-be-among-largest-covid-era-property-deals/ The sale price is reported to be 800 billion Korean won, or about $688 million,... The largest tenant at the 701,000-square-foot property is Utah-based experience management company Qualtrics, which leased 275,000 square feet at the building for its co-headquarters last fall. The company also acquired naming rights to the 38-story tower, which was originally known as 2+U. Other long term tenants at the property include Indeed.com, Dropbox and co-working firm Spaces. Its central location in downtown Seattle and stable rent roll attracted the attention of several other bidders besides Hana, according to Maeil.

2020 would be the year for it

Korean Air eyes sale of LA’s tallest tower Debt-ridden airline lends subsidiary nearly $1B to refinance maturing loan on LA’s tallest tower https://therealdeal.com/2020/09/17/korean-air-eyes-sale-of-wilshire-grand/

The Billionaire Who Wanted To Die Broke . . . Is Now Officially Broke https://www.forbes.com/sites/stevenbertoni/2020/09/15/exclusive-the-billionaire-who-wanted-to-die-brokeis-now-officially-broke/#235fb02c3a2a It took decades, but Chuck Feeney, the former billionaire cofounder of retail giant Duty Free Shoppers has finally given all his money away to charity. He has nothing left now—and he couldn’t be happier.

Stripe Workers Who Relocate Get $20,000 Bonus and a Pay Cut https://www.bloomberg.com/news/articles/2020-09-15/stripe-employees-who-relocate-to-get-20-000-bonus-and-a-pay-cut?srnd=premium

Snowflake is selling shares at $120 in its IPO, initially valuing the company at $33.3 billion. The company raised its price range on Monday to between $100 and $110. Snowflake is poised to be the biggest IPO in a heavy week for tech offerings. https://www.cnbc.com/2020/09/15/snowflake-prices-ipo-above-increased-range-implying-initi.html

You can really smell the desperation wafting out of Manhattan - big writedowns must be looming. I'll give 1:2 odds on the JPM "study" being completely non-empirical. This is my favorite part by far: JPMorgan Sends Some Traders Home After Worker Contracts Covid-19 https://www.bloomberg.com/news/articles/2020-09-15/jpmorgan-sends-some-traders-home-after-worker-contracts-covid-19?srnd=premium

https://www.businesswire.com/news/home/20200914005873/en/Katie-Farmer-Named-CEO-of-BNSF BNSF names Kathryn Farmer as its next CEO

At JPMorgan, Productivity Falls for Staff Working at Home ‘Creative combustion’ has taken a hit, KBW analysts say JPMorgan CEO Dimon discussed bank’s findings with KBW https://www.bloomberg.com/news/articles/2020-09-14/at-jpmorgan-productivity-falls-for-younger-employees-at-home?srnd=premium

Snowflake bumps expected IPO price by about 30%, could debut at more than $30 billion valuation Snowflake raised its estimated IPO price by around 30% in a new S-1 filing Monday. The company now expects to go public at a share price between $100 and $110, according to the filing. It previously said the shares would likely debut between $75 and $85. Last week, Snowflake revealed in a filing that Berkshire Hathaway and Salesforce each agreed to buy $250 million of stock at the IPO price in a concurrent private placement. https://www.cnbc.com/2020/09/14/snowflake-bumps-expected-ipo-price-value-could-top-30-billion.html

https://www.cnbc.com/2020/09/11/rxr-realty-ceo-scott-rechler-to-mayor-bill-de-blasio-on-city-clean-up.html Real estate CEO: NYC mayor must make streets safer, cleaner so people will want to return

Long term holder? Why now?

Google Abandons Plan to Rent Dublin Office for 2,000 Workers https://www.bnnbloomberg.ca/google-abandons-plan-to-rent-dublin-office-for-2-000-workers-1.1490492 Alphabet Inc’s Google unit walked away from a plan to rent space in Dublin for as many 2,000 workers, shelving one of the city’s biggest real-estate deals in recent years. Google had been in talks to rent about 202,000 sq ft (18,766 square meters) of space at the Sorting Office, close to the Irish capital’s south quays, adding to its array of sites in the city.