Results for ‘Development’ category

Thinking through the environmental consequences of what we do

On this Earth Day, no one would confuse me with an environmentalist. I generally take the view that environmental problems are best solved by pricing in the externalities of our industry / consumption, rather than restricting activities by law. So, for example, I’m fine with people using a bunch of water to grow almonds in

More on getting our hands dirty

In case you’re still having trouble believing we’re not traditional money managers: I just got a phone call from my assistant, who is attempting to drop off a relocation payment to a tenant and get his keys. Turns out he is in jail for, among other things, threatening neighbors with a machete. So now I have to

We still get our hands dirty

Sometimes I have this image in my mind of Adaptive as a sophisticated real estate private equity shop. After all, we raise discretionary investment funds, deploy them, and then (hopefully) harvest the returns for our investors. But nights like Tuesday snap me back to reality. Jon and I spent a big chunk of the that evening in

A few new deals

Just removed contingencies on two more deals. One is a fee for service deal with a long-term partner. The other is the first deal with the new pot of money we’re putting out. Both are pretty classic deals for us: 10 and 8 units, respectively Interesting bones Tons of deferred maintenance Improving areas near to

How we forecast the rents

One of our key advantages in this business is our ability to accurately forecast rents for renovated units. We’ve previously discussed the importance of this skill: It’s understanding the rents that allows you to properly underwrite deals. We are able to do such accurate forecasting because we are constantly leasing renovated units in the neighborhoods

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