Results for ‘Development’ category

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

One way to think about our business

For a long time, as young professionals aged into their late 20s / early 30s, they would move out of LA to suburbs in search of a big single family home with a yard, etc. Demand for apartments in LA, particularly in the areas east / north of Hollywood, was therefore mostly constrained to professionals

Off market-deal

Not to beat a dead horse, but: We have a reasonably interesting, off-market 4plex deal that we’re going to send out tomorrow. It’s not going to set anyone’s world on fire, but we think it’s a worthwhile project for someone who likes Silver Lake and is willing to do some work to add value. And

3210 Bellevue is sold

We finally sold the last Fund 1 property yesterday and I thought I’d take the opportunity to share the (unaudited, unofficial) numbers: Purchased 5/23/2013 for $690,000 Spent ~$410k renovating (including all fees to Adaptive) So, all in for $1.1MM Took in ~$40k from rents while we owned it Sold 10/9/2014 for $1.42MM Net sale proceeds of ~$1.32MM

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