Am super busy today with deals and hiring, so this is going to be a short piece. Want to plug a business book which anyone interested in marketing, even tangentially, should definitely read: Permission Marketing by Seth Godin. It’s an old book… more than a decade now. But it’s timeless, because, unlike lots of marketing
Every morning, when I’m leaving the gym, I ask myself one question: Did I pay the price? What I mean by that is: Did I put in the effort necessary to get the result I want? It’s kind of a gut check, just to see if I really tried or if, for whatever reason, I slacked.
If you’re going to do multifamily projects, you need to know your target post-rehab rents. In our business, we rely heavily on proprietary information from our existing portfolio. Since almost all our units are renovated to a similar standard and all our buildings are clustered in a few areas, we have very granular information about
When you’re in a hot market, every second thing you get from brokers is a development opportunity. That’s generally code for “over-price land”. And I’ll tell you what your first impulse is: To see if you can maybe buy the land on either side and have that make the project work. (That’s called “assemblage”.) But this
Here’s a sobering fact: The overhead at Adaptive Realty runs something like $45k / month. That means, before Jon and I see $1 in 2016, we need to bring in revenue of around $540k. Why have we set our business up like this, rather than just being “deal doers” who are lean and mean? The