Eighty years ago, my great-grandfather, Dick Burnett, acquired the Dallas Eagles baseball team
This included their stadium near Lake Cliff Park
Below are the now-demolished Burnett Field and the recently completed 86-unit Burnett Lofts 3 blocks away from the old ballpark site
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How long until the dot gets to the middle of the Texas Triangle and just stays there for good?
The good news is that once you have great "data hygiene" then almost any model can do 90% of the work you want
Even the really cheap ones
We are now using AI in a lot of different ways throughout our property management, construction, development, and investment businesses
The most important thing that it has done for us is unrelated to AI
We had to get our act together on the data side
AI doesn't help when your data is scattered across seven places and none of it is clean.
So over the past year we got very good at making everything easily findable. Every property, every loan, every service contract, every insurance policy. For the 123 Main Street file, everything is actually there (and the current version).
Now AI works for us, because it finally has full context. But even if we weren't using AI, we are better operators today because we have gone through the effort of structuring and cleaning our data and files.
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People like carports and covered parking in Texas
Due to building code revisions in Dallas, going forward, carports will need to be rated to hold the weight of up to one foot of snow
In records going back to 1898, DFW had 11.5" in 2010 and 12.1" in 1964 (over a two day period)
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Lots of people talking and asking about Opportunity Zone 2.0 and the new map
I will be on a panel next week with two top people from HUD and the Texas Governors office to discuss this
TAAHP in Austin on Monday
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We are now using AI in a lot of different ways throughout our property management, construction, development, and investment businesses
The most important thing that it has done for us is unrelated to AI
We had to get our act together on the data side
AI doesn't help when your data is scattered across seven places and none of it is clean.
So over the past year we got very good at making everything easily findable. Every property, every loan, every service contract, every insurance policy. For the 123 Main Street file, everything is actually there (and the current version).
Now AI works for us, because it finally has full context. But even if we weren't using AI, we are better operators today because we have gone through the effort of structuring and cleaning our data and files.
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How long until the dot gets to the middle of the Texas Triangle and just stays there for good?
With governors redrawing the Opportunity Zone map for 2027-2036, investors who act now could shape where tax-advantaged capital flows for the next decade.
The initial Opportunity Zone program helped get new businesses and housing established in communities that needed them. Permanently enhancing OZs creates a strong foundation for additional economic development.
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many OpenAI employees have had a relatively simple pathway to liquidity with their equity:
1. Accept PPUs at hire
2. File a timely 83(b) election (appreciation from that point forward is capital gain, essentially $0 basis and no exercise required)
4. A tender offer is announced
5. Choose how many shares to sell, enter orders in Shareworks
6. Enter receiving account wire instructions in Shareworks
7. Receive wire on the day of proceeds delivery
8. Pay capital gains taxes (quarterly and/or 4/15 shortfall)
9. Invest the net proceeds or spend on XYZ
What you do not see behind the scenes for people who work with a financial planner who is deep into these events on a monthly basis:
1. Years of banking capital losses through long-only and long/short custom direct indexing
2. Private donations of shares through the OpenAI DAF program
3. Opportunity zone capital gain deferral
4. Coordination with CPAs for estimated-tax payment strategy + tax-reserve investing that is tax-aware and state-specific
5. Diversified deployment of net proceeds into an institutional-quality portfolio
6. Detailed home purchase modeling and execution in an insane Bay Area real estate market
7. Securities-based borrowing (SBLOCs and box spread loans)
8. Values-based financial planning for MUCH more liquid balance sheet of high 7 figures to 8 figures
9. Cash flow and lifestyle design, especially around housing, family support, career flexibility, and large purchases
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I post about owning, operating, building, and investing into Texas apartments
I also go into the weeds of the Opportunity Zone tax structure used on the investment side
If you want to get rich on X, it isn't going to be through creator revenue or meme coins.
Instead, think about one subject matter that you know more about than anyone else in the world. It can be anything: plumbing, menswear, Indian food, furniture, social apps, whatever.
Post one unexpected insight you picked from your experience in that area. Keep it under 5 sentences. Do this every day for 6 months.
If you stick to it, we will promote your account to others.
By the end, you will be recognized as the world's leading expert in that subject area and you can charge whatever you want for endorsements, your time, or whatever. And no one will be able to take that way from you.
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I post about owning, operating, building, and investing into Texas apartments
I also go into the weeds of the Opportunity Zone tax structure used on the investment side
If you want to get rich on X, it isn't going to be through creator revenue or meme coins.
Instead, think about one subject matter that you know more about than anyone else in the world. It can be anything: plumbing, menswear, Indian food, furniture, social apps, whatever.
Post one unexpected insight you picked from your experience in that area. Keep it under 5 sentences. Do this every day for 6 months.
If you stick to it, we will promote your account to others.
By the end, you will be recognized as the world's leading expert in that subject area and you can charge whatever you want for endorsements, your time, or whatever. And no one will be able to take that way from you.
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Today is the day that Opportunity Zone 2.0 (the permanent OZ tax structure) begins
It is 180 days until the first business day of 2027
Any capital gain (stock, business sale, crypto, real estate, etc) from now on is eligible for a 5 year tax deferral and 10-30% reduction
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We are opening another building in Bishop Ridge
127 units with great views of the Dallas skyline in an Opportunity Zone census tract
Some awesome and unique floorplans in this one
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What goes up must come down
I am a fan of this
Tesla has just officially launched the larger Model Y L in the US, starting with a Limited Edition Premium AWD "Launch Series" trim!
• Price: $61,990
• Launch Series includes: 1 year of FSD (Supervised), 1 year of Supercharging, 1 year of Premium Connectivity, plus your choice of any exterior paint color, interior color, and wheel option at no additional cost.
• Other Launch Series exclusives: Badging, floor mats, puddle lights, suede dash inserts and sill plates.
• Range: 325 miles
• 0-60 mph: 4.4s
• Battery: 88 kWh
• Six exterior paint options: Stealth Gray, Diamond Black, Pearl White, Marine Blue, Ultra Red, and Cosmic Silver (new to the U.S.)
• Two interior color options: Black & Zen Gray
• Two active air-cooled wireless phone chargers in front
• Vehicle-to-load (V2L). Comes with V2L adapter. No PowerShare.
• Wheel sizes: 19" (325 mile range) and 20" (320 miles)
• All-black headliner
• Three row, six-seat layout
• Front seats: Powered thigh extenders, heated & ventilated, adjustable headrests
• Second row seats: Captains chairs, electric lifting armrests, ventilated & heated, electric folding, additional air vents in B-pillar
• Third row seats: Heated, electric folding, cupholders and dedicated air vents in C pillar, two LED lights in ceiling
• Length: 196" (7" longer than Model Y)
• Curb weight: 4,600 lbs
• Total storage space: 89 cubic feet
• 16" center screen, 8" second-row screen
• Peak Supercharging speed: 250 kW
• 18 speakers, including one subwoofer
• Second row and third row seats fold completely flat
• 12v outlet in rear trunk area
• Suspension: Second-generation suspension system. Equipped with continuous variable damping.
• 8 cameras, including front bumper camera with washer
• RGB ambient lights, silver-coated glass roof for better heat rejection, 360 acoustic glass, HEPA air filtration system (same as on current smaller Model Y).
Deliveries in the U.S. start in October.
More photos in thread below:
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You can buy real estate in any of these green areas and not pay tax on the appreciation if you hold it for 10 years
Very soon, the map is going to be updated (likely improved) and we'll be ready to build/renovate apartments for the long term hold
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My sister in law is a flight attendant and had one of the flights of Scottish World Cup fans to Boston a few weeks ago
200+ fans for 6 hours from Dublin to Boston
They consumed every drop of alcohol on board within 90 minutes of departure and were playing the bagpipes in the galley
Also said they were well mannered and never seemed very drunk
Said the white wine was the last to go (but it went)
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Karen Bass made Los Angeles uninvestable for apartment investors.
Mamdani froze the rent on a million New York apartments, and some owners are at risk of losing their buildings.
That risk doesn't exist in Texas.
Rent Control is banned by state law.
Evictions for non payment of rent move fast also by state law.
A new state law, SB 840, means multifamily and mixed-use projects are allowed "by right" on land zoned commercial, office, retail, or warehouse, no rezoning or council vote required.
Smaller properties also get some tax predictability. Non-homestead investment real estate under roughly $5 million has a 20% cap on annual appraisal increases through 2026 (and this will hopefully get extended).
Developers can further reduce tax volatility by partnering with cities on projects that include affordable units.
None of this turns a bad deal good. But it makes a good deal here far more resilient than the same deal in a city where one mayor can rewrite the economics.
Long Texas!
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June 29, 1776 was the first time the name "United States of America" appears
Must have been the 1776 version of a viral article
Thomas Paine publishes an open letter in the Pennsylvania Evening Post, under the name “Republicus,” which advocates for the name “United States of America” for the new nation now emerging.
This is the first time such a term has been used.
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