Robbie Hendricks
@roberthendricks
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Multifamily Investor & Operator. 2440 Units Acquired Over 11+ Yrs. Dad. MBA/CCIM. Buckeye. Car Guy.
Ohio, USA
Joined March 2009
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@unusual_whales
Pretty obvious we are importing a workforce to keep costs down for big businesses.
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@unusual_whales
But I thought the 80,000 new IRS workers were only going to target the billionaire class?
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My little 4 y/o boy was really sad about going to school today.
“I really don’t want to go Daddy.” Not unusual.
But today I asked, “Why don’t you want to go, son?”
He told me other kids didn’t want to play with him and it made him sad.
It broke my heart.
Parenting is tough.
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Is it better to have kids when you’re young + broke?
Or is it better to wait until you’re in your 30s and more financially secure?
I waited until 36.
It’s nice to have financial stability where my kids are not a burden financially, but I do wish I had them when I was younger.
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@unusual_whales
If this happened, there would be zero supply because no one would ever trade out of their 3% rates.
High rates constrict supply.
No supply = prices up.
The way to increase supply and incentivize building is lower rates.
Lower rates = high inflation.
Fed is in a bad position.
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This hurts my heart deeply for some reason.
Anyone else?
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@JohnLeFevre
Bryan needs to have a bourbon on the front porch and watch the sunset.
Thanks for coming to my health seminar.
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After being active on X for a few months, here’s a big takeaway:
The number of people depending solely upon the S&P 500 to take care of themselves financially is staggering.
I do have a silo of “index and chill” - everyone probably should - but I’m not dependent upon the S&P
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@FilledWithMoney
Pay off credit cards every month without fail.
Don’t take on a home unless mortgage is less than 30% of your HH income.
Don’t buy a car with a payment greater than 10% of your income.
Always have 6 months of expenses saved up in cash or equivalents.
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@thevivafrei
That is clearly a goat or a lamb. That’s how they cook them in South America, I’d guess he was down there.
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@unusual_whales
Legally insider trading must be pretty awesome.
Being worth hundreds of millions on a $200k salary is hilarious.
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@FilledWithMoney
This is why you don’t let your expenses rise directly with your income. That rainy day always comes - keep an umbrella handy.
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@unusual_whales
Used to think I was relatively successful.
Then I found out a guy named Roaring Kitty made $210M on Game Stop.
Back to the drawing board.
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@unusual_whales
If you LOVE lattes, I vehemently disagree.
If you’re just passing time with them, I agree.
All things have nuance. Pick a few things you love to spend on, slash the rest. If your latte gives you life, get your latte on.
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@unusual_whales
Can someone define “excess profit”?
Isn’t generating a profit the purpose?
If you tax a company 95% they are just going to relocate. Jobs will be lost.
Think this through, Bernie.
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@KobeissiLetter
Gotta give the hedge funds time to get out of their shorts without going belly up.
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@MekeyGabriel
@unusual_whales
If you think both parties aren’t beholden to big corporations I don’t know what to tell you.
The current party in power is letting all of these people in without regard.
The previous party keeps taxes low for big business.
They both serve their corporate overlords.
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@AJA_Cortes
I adore my morning coffee.
I can go without it.
But I don’t want to.
So I’m not.
Boom.
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We acquired a value-add 346-unit deal in 2019 for $60,000 a door.
Just appraised for $200,000 a door with our agency debt people at Arbor.
We’ve already returned 70% of our investor capital.
Infinite returns coming soon.
God is good.
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@KobeissiLetter
Anyone else concerned that the vast majority of Americans are depending upon 7 stocks for their retirement?
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@BarbellFi
VMFXX is an easy 5.25%.
Roll 3 month T-Bills at 5.35%.
Even Wealthfront pays 5%.
That’s $10,000+ of interest over the 12 months of holding that cash.
Get him on it!
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@unusual_whales
Private investors are fine. But if Blackrock is scooping them all up that’s…concerning.
That said, smart private landlords hold their homes in LLCs, so it’s hard to discern on this stat alone.
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@ZubyMusic
I absolutely agree.
I think 99% of people sincerely didn’t care what people chose to do as adults provided it didn’t infringe upon their ability to peacefully raise their children or live their lives.
But this quasi-religious push is creating an equal and opposite reaction.
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@ZubyMusic
Having to navigate every single possible offense prevents the vast majority of people from simply telling the truth.
Is that really a world we want to live in?
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My father was 47 when I was born.
Pros: He was quite wise. Established financially. Got his mistakes out of way in his 20s and 30s with my siblings/first wife (ha).
Cons: Wasn’t able to be very active w/me. Shorter timeline together, as he passed away at 80 when I was only 33.
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@theficouple
I’d scale those up a bit if it’s real estate driven equity, at least IMO.
RE is so illiquid that one could conceivably have a $2M+ net worth and “only” be earning $100k/yr…which I just wouldn’t describe as the highest tier of wealth.
Very good, no doubt…but I’d bump ‘em up.
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The most important thing I do in my life is parent my little boys.
Real estate is fulfilling and I’ve been blessed, but ultimately my
#1
goal is to be the best dad and example I can be for my kids.
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@unusual_whales
Does a guy named Roaring Kitty making a billion dollars off of a dying company officially mean we’ve jumped the shark?
Or is there still a ways to go?
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@IAmClintMurphy
You’re not kidding, Clint.
I said:
1) I love you always. Mommy and I are here for you no matter what.
2) Sometimes people will be that way and it’s okay. You just stay strong and kind.
3) Let’s make pancakes and have fun right now.
Tears dried up. Pancakes to the rescue.
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@dennisdoddcbs
@BCFootball
@OhioStateFB
@UMichFootball
This is embarrassing Dennis. Goodness man. Study BoB for 30 seconds to find out his rationale for taking the BC job.
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My advice to new real estate investors:
Start small.
I started with a house hack w/friends.
Our first multifamily was an 11-unit for $168k in a bad part of town.
We raised $69k from one investor.
Then we did 28, 34, 21, 33, and 12 units.
This is how you build experience and
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@unusual_whales
Funny, it follows the same chart of money supply growth.
No one is wealthier in real terms. But those net worths sure look fun!
If only it was 1980.
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@GiaMMacool
Almost everyday I think to myself - I wish my Dad was here so I could ask his thoughts on this thing.
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@meetmikehiggins
Trades are easy path to $100k these days.
In 15 years theyll be the easy path to $250k.
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@realEstateTrent
Our first deal was an 11 unit and we raised $69,000 from a close friend who emptied his 401k. He took a risk on us.
10 years later, we’ve raised $80M in private capital. That first investor has since made millions. Sometimes it pays to take a risk on starry-eyed kids!
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Property management is the worst. I tell people all the time. It’s a constant stream of headaches.
Would be so much more fun to buy deals, hand ‘em off to a 3rd party, surf, and drink margs 🍹
And yet, we choose to self-manage our assets.
No one will run an asset w/ the same
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@zerohedge
I’m sure everyone is going to respond well to the verdict and work to understand one another.
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@ZubyMusic
People don’t want roommates, to drive used cars, or to meal prep.
Everyone wants the IG influencer lifestyle. 5-star hotels, tomahawk steaks, and Lamborghini Urus only.
I had roommates until I was 28.
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@libsoftiktok
At least the folks that support packandlackem will be satisfied by this legislation.
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I didn’t realize suggesting diversifying asset classes was controversial.
I invest in index funds. I have for my entire adult life. I’m not arguing their value at all.
I argue against exclusively owning one asset class. Same as I tell people not to invest all of their $ in RE.
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@unusual_whales
Meanwhile our government is hosting the cast of Queer Eye in the White House.
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@theficouple
HVAC, Electrician, and Plumber can easily earn $100k+ with only trade school.
My HVAC guy who works for a local firm is 28 and is making $115,000.
The trades are excellent.
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@Budgetdog_
How are you not a Private Client?
Just walk in there and show ‘em.
They’ll bump you to $30k+ no sweat.
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@unusual_whales
Rules for thee, but not for me.
Same folks fly private jets everywhere while lecturing us serfs on the climate impact of eating a hamburger.
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@GuyTalksFinance
Do people pay off their home and then become millionaires….
….or do they become millionaires and then pay off their home?
I’d bet you 9 out of 10 times it’s the latter.
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@KobeissiLetter
I’ve been telling people: higher rates are increasing housing prices.
No one is going to sell their 2.5% mortgage into a 7.5% mortgage.
While demand is down, it’s still higher than supply. Economics 101 - if demand if higher, prices go up.
Rate cuts would loosen it up.
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@indexnforgetit
Lot of nuance to this question.
Ramsey is correct that people should avoid credit card debt because the rates are astronomical.
Cardone is correct that using debt to buy assets (responsibly) can create generational wealth.
Debt for assets = good.
Debt for toys = bad.
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@TheDrugMoney
No such thing as a short cut.
Long term health consequences are a concern.
Then again, the long-term health consequences of obesity are also concerning.
Anything to avoid diet discipline and exercise.
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@unusual_whales
Full-time employment jobs are plummeting.
Bankruptcies are way up.
CRE and regionals are in distress.
90% of America is already in a recession.
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@theficouple
If they have a non-RE related W-2 and are claiming real estate professional status on their taxes, they’ll have a rude awakening when the audit comes in.
And it’s coming.
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@BarbellFi
With the ability to invest $132k/year, there are some attractive private alternatives that would be a nice addition to your portfolio.
But with that savings rate, you’ll be fine regardless.
As others have said, I’d personally avoid bonds except short term T bills at 5.4%.
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@unusual_whales
NVDA is miles ahead of the competition in the AI space. But does it warrant a $2T market cap?
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