3NDeveloper @3NDeveloper

Real Estate developer who specializes in retail ground-up / value-add. Average unlevered IRR (no debt) of ~40%. Just sharing my thoughts and experiences. Joined December 2022

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3NDeveloper @3NDeveloper

2 weeks ago

Received an inbound lead for my property from a broker: - Local tenant down the block - 20 year operating history in the market - Owner of the building passed away, and the son wants to sell the property as a development asset (Tenant is currently MTM) 🥳🥳🥳 - Relocation need…

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3NDeveloper @3NDeveloper

2 weeks ago

Beautiful story

Bethany | Commercial Real Estate @bethanyjbabcock

2 weeks ago

Beautiful story

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3NDeveloper @3NDeveloper

4 weeks ago

One thing led to another, and now I'm in Phoenix, AZ. It was 114 degrees when I landed yesterday. Today will hit ~111 degrees. Too many people look like raisins here 😂😂 Planning to visit the following cities: - Mesa - Glendale - Chandler - Gilbert - Scottsdale Might visit…

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3NDeveloper @3NDeveloper

a month ago

Congratulations to @renatolorja for setting a new record in the market. Lowest cap rate sale on a STNL Goodwill nationally. It's quite the achievement in the current economic environment. I have said this before, and will say it again: If you want to make real money in CRE,…

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3NDeveloper @3NDeveloper

a month ago

I'll share a story about the one that got away. Let's rewind in time a bit - I had put together my first set of development deals back-to-back. - 3 ground-up drive-thru projects in SoCal. - Los Angeles and Orange County real estate (best exit cap rates). - National credit…

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3NDeveloper @3NDeveloper

a month ago

Want a great tip? Do not stick your nose up at people. CRE is an interesting world - the vastness of personalities and life experiences is mind boggling. We end up meeting so many people that are simply opposites of who we are; yet, it's in your best interest to make a…

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3NDeveloper @3NDeveloper

a month ago

CRE can be such a brutal business. Let me share some backstory first before I tell you what happened. I am extremely involved in all my listings: - Call my leasing brokers every day (often twice a day - once in the morning, and once in the evening) - Any time we get an inbound…

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3NDeveloper @3NDeveloper

a month ago

These bot strategies are getting wild. 'Crazy ex-gf vibe' was not in my bingo card for 2025 😅🤣 @elonmusk please fix the spam issue going on. My DMs are clogged with scammers and grifters.

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3NDeveloper @3NDeveloper

2 months ago

Currently working on the most difficult RFP I have ever seen. Quite frankly, it's a bitch: - Core RFP document has nearly 100 sections, which each have several sub-requirements that need to be addressed - Many, many critical exhibits - Proposals are automatically rejected if…

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3NDeveloper @3NDeveloper

2 months ago

Visited a massive train wreck of a deal today. Quite frankly, I can't recall a deal where every single person involved across the capital stack got so royally skullfucked 😅🤣 Asset is being sold: - Ground lease (land is being sold) - Ultra prime location - Class A construction…

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3NDeveloper @3NDeveloper

2 months ago

Received a call from a GP today. He just started popping up at all the CRE events one day, and we were eventually introduced. He invited me to lunch ~1 year ago, and he (guardedly) shared a deal he was working on at the time: - Dark STNL asset - Pad to a major retail center -…

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3NDeveloper @3NDeveloper

2 months ago

Ended up passing on the deal today. The commentary on the post below was interesting. People fell into either of 3 camps: - Are you crazy? $4M?! Buy the property! - Flip it to an experienced operator - Stay in your lane I passed due to the latter. Within the CRE landscape, I…