Results for ‘Building Adaptive’ category

Some stats on our business

Jon and I are hiring a photographer to go back and document all of the buildings we’ve renovated. She asked for a list, so I went back through my records to produce one. Thought you would be interested in the results of my research: Completed gut-renovations on 25 buildings totaling 156 units Renovations in progress

Are there any good deals out there?

Well, I’ve written 4-5 offers this week. And I just stumbled across a deal that’s going to end up being somewhere between an 8.5-9.5% unlevered yield (eg cap). Of course, these things aren’t just falling off trees. You need some combination of superior local knowledge, skill / experience, and sufficient capital. Inventory is definitely tight,

Broker lunches

Every six months or so, I set up a round of lunches with relevant brokers and agents. Who are relevant brokers? Well, they’re the ones who sell the deals that we want to buy… beat-up properties in interesting areas that are priced (semi-)fairly. Why do I do these lunches? The idea is to build trust

Describing what we do

Have been doing some thinking about how, exactly, to explain how Adaptive helps clients deploy capital in the multifamily space. Regular readers know we do bunch of different things, including: Managing real estate investments (via discretionary funds and one-off projects) Fee-for-service development (where we get paid cash to help investors buy and rehab their own properties)

My current catch-22

There are some deals right now that: Aren’t right for our current fund (because the near-term returns aren’t high enough), but I want to buy (because I think they have a lot of potential down the road) One obvious solution to this problem would be to buy the deals with non-fund money, either my own

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