When you’re designing apartment buildings, you need to resolve the following tension: You want the units to be cool enough to attract tenants today, while making them timeless enough to attract tenants for decades to come. We have settled on what I like to think of as “authentic Socal minimalism”: “Authentic”, because we avoid using
One of the bad habits I’m prone to falling into is failing to grow my network of capital providers. For any given deal, if we’re not deploying a discretionary fund, it’s easiest to reach out to the 3-4 families with whom we do the most business and get one of them to write the check.
Regularly get asked the following questions: Are you planning to venture out to other cities? Start doing other product types (office, retail, etc.)? The answer to both is that I would love to branch out. Aside from the intellectual stimulation that comes from learning new things, expanding the pool of potential projects would allow us
Recently, have found myself giving advice to some recent college graduates beginning their careers in business. Figured I’d share here, since plenty of my readers are in the early stages of their careers and this is the advice I wish someone had given me. As always, my advice is worth what you’re paying for it.
Our business model allows us to generate yields which are consistently 200 basis points in excess of “market”. In other words, if any random ding dong can buy a 4% cap, then we can reliably create a 6% by doing what we do. But, right now, a 6% isn’t that great. Why? Well, interest rates