Steve McCrann

Ram Chhetri came to the US as a refugee, but this might be worst day of his life: It's the moment he realizes the $80k-$160k/year salary he's bilked from Medicaid for no-show work is coming to an end because @realdailywire caught the truth on camera. We conducted months of surveillance that shows why "home care aide" is now the *most common job* in states like NY, CA, MN, and PA: Because a large part of those jobs are unambiguous Medicaid fraud. Thanks to home care, Bhutanese refugees now make more money than actual PA families. The state doesn't just look the other way, but helps them get away with it. Converting federal health dollars into a universal basic income for certain communities relieves the financial burden they place on the state. The scammers easily deceive the feds' woefully broken monitoring system. You'll see Ram pull into a driveway for 2 minutes in the morning, then 2 minutes in the evening. He clocks in and out of his shift from the right place, and the GPS system doesn't notice that he goes home in between. $20 an hour doesn't sound like much, but at 77 hours a week, it's $80k–and it's easy to bill huge hours when you don't actually have to work them. And that's just for the low-level guys in this scheme.

UPS DANCE CHAMP!! Coolest homeowner ever, or way too much effort for a package? The doorbell cam spots a UPS driver, a speaker starts playing his song, and there's a snack basket waiting. The man dances his way up the walk and grabs a snack. This is the other side of every prank video. Same camera, same porch, and nobody gets used for clout. You just make the best stop on a long route. These drivers are hauling Christmas to every house in Colorado for the next two months. Leave a water and a granola bar out. It costs you a couple bucks. My wife and I have two little helpers who would happily run that snack basket. Give that man a raise.

Every year, thousands of DC residents lose their homes over unpaid rent. Most owe less than $5,000. Going to court is stressful for tenants, expensive for landlords, and slows down the system. We need a better way to resolve rent issues. 🧵⬇️

In 1717, my 8th great uncle was granted a 17,000 acre land lease from the 6th Lord Fairfax of Cameron that ran from the dirt road of the future HWY 1 all of the way down this break to the Potomac River. I hope this picture brings you great joy.

This is a dire post for multifamily, but I do think it is largely submarket specific. So here’s my frontline view as a small operator in the Midwest: • We didn't have nearly the same new supply come online as the sunbelt, but that doesn't mean there aren't problems. Still pockets of softness, but contained. We're at 95% occupancy with no concessions active. • Most of our new construction was squarely Class A in our markets. Class B is in high demand if the rents are a true discount to new product. If you're throwing in granite and trying to scrape towards Class A rents, you're sitting at 86% occupancy when you could be at 96% with Formica and $150/mo lower rents. • The demand from tenants for cheap Class C apartments is through the roof (ominous). Even in terrible submarkets. Completely agree that there is no room whatsover in the rents for C class to move upwards for the foreseeable future. • We know this because application declines for our few Class C apartments is the highest we've seen. The demand to take more and more Section 8 from prospective residents has never been higher. • With that, the buyer pool for C class apartments is non-existant below a stabilized 10-cap out here. We've looked at dozens of deals and our bid is routinely 30-50% less than sellers want. The capex time bomb on Class C stuff cannot be shielded by rent growth and compressing cap rates any longer. • Well located, affordable B class apartments will continue to do well in our markets. If you're buying, they need to be acquired with massive discipline and at a much lower basis than you think, on a longer timeline than you think. • At least in our market, new supply has slowed enough and in-migration has grown enough that I lean more towards the "10 years of tolerable pain" forecast than a sharp correction to doom. I do not believe many lenders are sitting on bad deals in Cincinnati (though in Columbus and Indy I am sure it is higher). It's back to the basics. Buy to hold long term. 10 year deals. Buy with operations as priority one. Buy with a clear line of sight to 12%+ cash flow Assume the market does nothing for you, and have contingency in place in case it gets measurably worse for a period of time.

Never underestimate the average person's desire to snitch. My buddy owns an ice company (as in frozen water) and he gets constant calls and letters from foreign sounding names snitching on other foreigners telling ICE where and when to come snatch them up with detailed descriptions of their illegal activities.

Still the best way to do left over steak, yes it was filet, but a great deal on it.