We bought our first building in LA, 117 N Reno St., in early 2008.
Yesterday, our wonderful bookkeeper, Kris, finalized some projections for the Adaptive group of companies for 2014. We’re nowhere near where we aim to be, but we’re doing well enough that I spent some time last night reflecting on how far I’ve personally come in this business since buying Reno six years ago.
Since then, along with some great partners, I have:
- Renovated close to 30 apartment buildings totaling hundreds of units
- Personally brokered 30-35 deals ranging from a few hundred grand up into the low millions
- Set up three investment funds (with more on the way)
- Fully exited one fund
- Created a brokerage and trained four agents to do deals the way I do them
- Created a management company to take care of the properties under our supervision
- Dealt with all kinds of city, tenant, legal, construction, etc. issues, losing a lot of sleep but learning all the time
Does the above sound impressive? It’s not. There are plenty of people who’ve done more deals, made more money, etc.
But we’ve done what we needed to do to get into the game. We’ve got experience, a track record, a great team of people, some of our own capital, and, most importantly (I think) a reputation for doing right by our partners.
Now, the fun begins.