Just lost out on a deal that I wanted to do, despite being the highest bidder. So, how did I lose? Well, this was a development deal. And the land was super-hilly. So I wanted to have five days to get a geologist, an engineer and an architect out to take a look at the site
Today’s Wall Street Journal has an interesting article [subscription required] on the re-birth of boarding houses [h/t to Manoj]. Back around the turn of the 20th century, as immigrants flooded into major cities, developers built rooming houses where you could rent very small accommodations, often with share bathrooms. Eventually, zoning codes halted the construction of this
We just entered lease-up on a fourplex we renovated at 363 S Leslie Way in Highland Park. Embarrassingly, we had to put the breaks on leasing this weekend, because we leased two of the units in about two minutes and realized we were underpriced. (This is a high class problem!) Anyway, here are some amateur
Am looking at a deal now that has an interesting problem: While ZIMAS and the county both show 12 units, the certificate of occupancy shows 11 units. The building only has 11 parking spaces, so it was pretty clearly built as 11, with the final unit added at some point along the way, most likely illegally.
Recently, I’ve been doing a lot of thinking about where we are in the cycle, debt, risk and asset allocation. You see, many of my contemporaries have been doing fairly high-leverage development deals and doing very well with them. We at Adaptive have shied away from those sorts of deals, for two, related reasons: You