u/sponge_boy_mee_bob

Looking to potentially invest in our first self-storage facility. Experienced investor and underwriter, but not in this specialty asset class. Listing agent says rents are currently under market value ($195/unit per month currently vs they say $250/unit per month is market rate).

When you are purchasing and doing your underwriting to decide what to offer, are you underwriting and offering based on the as-is P&L, based on the proforma P&L, or somewhere in between? Essentially, the existing caprate (at the price that I think the seller will accept) sucks, but the proforma caprate at this price is good. Is the correct purchase price somewhere in the middle? How difficult is it to immediately raise monthly rents $55? Apparently it never has vacancy and there is a waitlist.

Bonus question: we need to do a cost seg to reduce our taxable income. How is this asset class for cost segs? What % of basis can I expect to take in deduction year 1?

We just moved from omaha into the country in the loess hills just north of Mondamin, IA. We used to take our dogs on multiple daily walks in our neighborhood in omaha. Being in the country now, we are still trying to find our new rhythm for dog walks. Where would be good places for us to walk our dogs? Would like to avoid heavy brush as we don’t want to have to worry a bunch about picking ticks off our three dogs.

I made a lot of money on Meta. I started buying heavily at $150/share in 2022 when people were literally saying “it’s the next MySpace”. Then I proceeded to watch my portfolio get absolutely hammered as the price contributed to drop all the way down into the $90s. I kept buying all the way down. But I felt alone. All my finance bro friends (I’m also a finance bro. I have multiple degrees in finance) thought I was nuts. I remember googling “meta stock” every day trying to find a single piece of positive sentiment to make myself feel better and less alone and less crazy - there was not a single piece of positive sentiment online to be found. But I stuck it out through the heavy anxiety, and what do you know, fundamentals prevail over sentiment in the long term.

I feel the same exact way about Reddit right now. Fundamentals are overwhelming excellent. Sentiment is overwhelmingly poopy. That’s an opportunity. I started buying Reddit heavily earlier this year. And here I am watching my portfolio tank today. And here I am buying more. It feels like Déjà vu to me.

The stock gods are giving you a golden opportunity to buy RDDT at a heavy discount, again, right before they completely smash earnings.

This Google news is very reminiscent of the Facebook forums news and the stock reaction from that. It’s an absolute nothingburger. In fact, both “news” events triggered a similar very negative reaction in stock price. It’s ironic because both of these pieces of “news” are actually very bullish, not bearish.

Meta trying to copy Reddit only further legitimizes Reddit’s merit. When the big boy in your space tries to knock you off, that means what you are doing is valuable and gaining traction.

Reports that Reddit “may” cut Google off from its data is like saying the sky is blue. Duh? They are negotiating a new deal. That’s how negotiations go - if you provide value to the other party, you leverage that value to get paid your worth. This is very bullish, if anything, because it shows that Reddit actually feels they have the leverage to negotiate a more lucrative deal.

Anyone that sees this Google news as negative - I challenge you to articulate how the alternative to this news would be positive. Were you wanting Reddit to limp to the negotiation table and say “yes daddy” to Google’s every demand? I don’t want to invest in a company like that. I want to invest in a company that is bold and pushes the boundaries - and this “news” is confirmation that Reddit is just that.

Not financial advice.

Google reports earnings Wednesday. What do you guys think - will Reddit be mentioned at all? Has Google mentioned Reddit at all in the past on their earnings calls since the start of their data licensing partnership?

For long term shareholders, this drop on the Meta Forum app news is a blessing and a great opportunity to accumulate more shares on an absolute overreaction. This shouldn’t be viewed as bearish; it’s actually bullish.

It reinforces the legitimacy and longevity of Reddit as a successful platform. I’ve now seen several graduation ceremony keynote speakers get overwhelmingly booed when bringing up AI. Look it up and watch the videos. The AI exhaustion is real; people crave real human conversations. Reddit is a strong product with strong fundamentals that is filling a growing demand for real human interaction on the internet.

How many people do you know that actually use and enjoy Threads regularly. I don’t know any. That meta copycat did not kill X. How many people do you know that actually use Instants? You probably don’t even know what it is, do you? It’s Meta’s copycat for Snapchat. I don’t know anyone that uses that either.

The truth is, people don’t trust Meta anymore. It’s a beast of a company, but its platforms are overwhelming filled with AI slop and the adoption of its copycat apps is absolutely horrible because they simply aren’t a better user experience than the platforms they are trying to mimic. The same will be true for Reddit and Meta Forum.

PS: May 22nd was practically the exact day a year ago when Reddit bottomed and went on a massive bull run.

Today I downloaded the Meta Ads Manager app as I was trying to promote something on Facebook for the first time ever.

The next time I opened the Facebook app, the first ad I got in my feed was a Reddit ad prompting me to advertise on Reddit. This boosted my confidence that Reddit will continue to have success getting businesses to try out and adopt its platform for advertising.

In case you’re curious, next time I opened the Reddit app, I got a Reddit ad there as well prompting me to advertise with them.