Results for ‘Buying’ category

Why we haven’t done commercial deals

“So, why don’t you guys do commercial deals?” I get asked that question a lot, so I figured I’d answer it here. The first thing to say is that we absolutely would do a commercial deal given the right balance between risk and reward (and investors who wanted to follow us into it). But I

Do single family home rentals work in LA in 2015?

One of our clients asked an interesting question yesterday that I think worthy of some discussion here: “Has Adaptive done any single family home deals where the rental numbers would work out to at least cover PITI after fixing up the property?” In other words, can you buy a single family home as a rental

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

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