Results for ‘Building Adaptive’ category

Our latest 4plex renovation

Thought you guys might appreciate seeing pics of our most recently completed project, a very large 4plex which happens to be located next to another of our projects. It’s obviously not the best time of year to be in lease-up, but the units are so special that I think they’ll go quickly.

When liquidity dries up for supposedly liquid funds

When people invest with us, I always warn them not to expect their money back at any particular time. Why? Because real estate is a fundamentally illiquid asset (eg it takes a long time to sell). As long as you’re not a forced seller, you’l probably do very well… but you can get killed if

Anatomy of a homerun

Thought I’d share numbers for a deal we just stabilized. Not going to share the address, because I don’t want to tip anyone off re neighborhoods, etc. Anyway, here goes: Acquired in Spring 2015 Stabilized approx. 13 months later All in for ~$2.37MM Stabilized rent roll of $262k Implied GRM of 9x (!) Forecast NOI of $190k

Some mildly annoying numbers

Just finishing a 4plex in a really cool, up-and-coming neighborhood that we renovated on behalf of an outside investor. Was reviewing the original pro forma and revising in light of what I believe the rents will be… and got an annoying surprise. Based on the original pro forma, this was not a deal that we

Appreciating Bloomberg’s Q&A with Henry Kravitz

It’s rare I read something in the business press that is directly relevant to me. After all, the number of people trying to build asset management businesses is vanishingly small; so small that it’s rarely worth anyone’s time to cater to us. So, it was with great interest that I read Bloomberg’s interview with Henry Kravitz,

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