Results for ‘Buying’ category

Where are interest rates going?

I have no idea and anyone who says they know for certain is either: A liar; or Should be trading interest rate futures on Wall Street That said, having a view on interest rates is pretty important in our business. Why? Because the price of income producing real estate is highly dependent upon the cost

Ballpark returns

Had an interesting conversation today with a guy looking at building condos / small lot. One of the questions he had was what kind of returns a developer can expect. I’m far from an expert on ground up, but I’ve run the numbers on a lot of projects. Right now, here’s where I think you

We missed…

Just missed on a deal I really wanted and I’m upset because I didn’t follow my own advice. When I’m brokering deals and people ask me what to bid, here is what I always tell them: It’s impossible to know what others will bid Instead, play with the numbers to figure out the highest price

Concentration vs. diversification

One of the interesting issues with managing other people’s money is having to decide how exactly to allocate that money among projects. At any given fund size, you need to decide whether you should do a small number of big deals or a large number of small deals. All the theory points toward diversifying. After

Apologies for the lack of posts

Didn’t write Friday or Monday because I’ve been slammed. We were finishing up diligence on the first deal for Adaptive Realty Fund 3, our latest investment vehicle. Late last night, we removed contingencies, with closing to come early next week. On top of that, my very capable assistant has been out sick, so I’m doing

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