Results for ‘Buying’ category

Are there deals?

Someone asked me today whether there are any deals to do right now. My response, as always, was a question: “What are your return requirements?” If you need to get to an 8% / year unlevered yield, then I can probably put out $3-5MM / year (eg not very much). If you’re willing to live

How leasing impacts acquisitions

“Hey Jacob. What did we get for the last 2/1 we rented at X?” I think I ask that question of Jacob, who runs our management business, 4-5 times per week. Why? Because we’re constantly recycling the market information we glean from leasing¬†back into our acquisitions underwriting. The go/no go decision on each deal is

What happens to Adaptive in a downturn

“What happens to you guys in a down-turn?” A contractor with whom we do a LOT of business asked us this question yesterday. He’s concerned, because he’s basically given up working with anyone else in order to handle the volume we’re sending his way. (Incidentally, he’s not the only one: We have three contractors now

Another off-market deal

We just went under contract to buy a reasonably large non-rent control building in an area we like. The price isn’t a steal by any means, but it’s fair. The reason is that there was no auction. The broker, a reader of this blog, has been managing the building for the seller for a long

Using a tenants-in-common structure for 1031 proceeds

Over the past six months, we at Adaptive have got a crash course in tenants-in-common deals and I think this may open a new avenue for growth in our business. To understand why, you first need to understand what a TIC deal is: A tenants-in-common situation is one in which multiple owners possess a property

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