From time to time, I check in at Gawker, where the editors have recently taken to publishing anti-gentrification screeds. Yesterday’s piece about Detroit is a classic, a model of the art. Peter Moskowitz, the author, spends a bunch of time criticizing Detroit for allocating its scarce resources to the downtown area at the expense of the
We got a deal that I think I really like over the weekend. However, the diligence period is only three days. There’s an unbelievable amount to cover in these three days: Physical inspections Reviewing leases, estoppels, rent roll, etc. Reviewing the permit records Compiling a construction budget for the rehab Confirming our pro forma rents
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
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
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