We’re closing today on what will become either our second or third ground-up project (depending on how you want to count this one). In going through the design / permitting process, I’ve already learned a pretty valuable lesson, which I’ll share here. I always wondered why investors wanted to see a higher pro forma yield on
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