Back when we were first starting Adaptive and I started writing this blog, I offered to take a meeting with anyone who was willing to come sit down with me at Bottega Louie, which was across the street from our first offices on 7th St. (Even calling that space “offices” makes it sound grander than … Continue reading “Renewing my offer”
Category: Building Adaptive
3210 Bellevue is in lease-up
Regular readers will remember that Adaptive Realty Fund 1 bought four deals, three of which have been exited already. The fourth, 3210 Bellevue, entered lease-up last Friday. Here’s the relevant CL posting. The units are really special: Brand-new bungalow style 2 bed / 1 baths Efficient, open-layouts Private decks Private yards 2 outdoor parking spaces each … Continue reading “3210 Bellevue is in lease-up”
Happy tax day
Every April 15, I go through the same emotional two-step: 1. Outrage. Since we’ve got Adaptive on a firm footing, I’ve been writing fairly large, annual checks to the IRS. It’s painful every year, because it feels like the government puts a major impediment in the way of anyone trying to turn earnings into wealth. … Continue reading “Happy tax day”
1012 N. Virgil is sold
We’re very pleased to announce (belatedly!) the sale of 1012 N Virgil, a 4plex renovated by Adaptive Realty through our first investment fund. Here are the numbers: Purchased for $427,000 in November of 2012 Renovated for $380,000 Rent roll upon completion of $111,000 Approx. $40,000 in cash collected prior to sale Sold for $1,274,000 at … Continue reading “1012 N. Virgil is sold”
A question for you, dear readers
Today, I’m throwing a question out to you, the readers. First, the backstory: As most readers know, we raise discretionary investment funds to buy and reposition apartment buildings Generally, the capital for these funds comes from affluent people (many of them close friends or family of mine) who are happy to put $100-200k to work … Continue reading “A question for you, dear readers”
Thinking of holding a seminar
I’m considering holding a 1-2 hour seminar on multifamily investment. Think the topics would include: Identifying / underwriting good deals; How the offer process works; How the diligence process works: What happens after you close May also include a tour of some of our properties (below finished and in progress). If you would be interested … Continue reading “Thinking of holding a seminar”
Seminar post-mortem
Am getting to this belatedly, but… Last Saturday, we held a seminar regarding multifamily investing here at the Adaptive offices in Echo Park (if you’re trying to be cool) / Historic Filipinotown (if you’re trying to be accurate). Turnout was great – I didn’t count, but I think we had roughly 15 people in to … Continue reading “Seminar post-mortem”
A look back
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 … Continue reading “A look back”
2514 London is in lease up
We’ve just completed construction on another fourplex for Adaptive Realty Fund 1. This one is on London St, just south of the 101. It’s kind of an experiment for us, since we’ve never done a project there before. But the units came out great, and we’re pretty confident we’re going to get our rents. If … Continue reading “2514 London is in lease up”
It’s not too late
I quit banking when I was 26 years old, convinced that I could do better by owning something, without exactly being clear on what that “something” was going to be. I messed around for a few years working on projects that did OK but ended up being dead-ends. By the time I really got started … Continue reading “It’s not too late”