Results for ‘Development’ category

My current catch-22

There are some deals right now that: Aren’t right for our current fund (because the near-term returns aren’t high enough), but I want to buy (because I think they have a lot of potential down the road) One obvious solution to this problem would be to buy the deals with non-fund money, either my own

How an HPOZ can screw up a deal

Am looking at an interesting deal, but it’s in an HPOZ (Historic Preservation Overlay Zone). Because the structure was built during the time-period the HPOZ is intended to protect, it is categorized as a “contributing structure”. It is extremely hard to do anything to a contributing structure.We would need prior approval for any work on the

Never lose units

Saw that someone arrived on the blog yesterday using the following search term “convert duplex into single family home”. Here’s my advice: Don’t do it. Or, at least, don’t do it with permits. Regular readers know I’m strongly in favor of using permits for every single construction project. It’s a bit more expensive, but you

If I were a broker…

…who didn’t also renovate tons of apartment buildings, I would: Run rent surveys across all relevant neighborhoods, all the time Constantly poll my clients about construction costs for different finish levels and unit sizes Constantly poll my clients about eviction / tenant relocation costs Why would I do all these things? Because, without the above

Stocks, bonds and real estate prices

In case you’ve been under a rock: The stock market has been in free-fall since the beginning of October. Here’s a handy chart: The thinking among investors is that the world economy is slowing due to weakness in Europe and China. Usually, when investors get spooked by stocks, they sell stocks and buy relatively safer government

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