Results for ‘Uncategorized’ category

A short appreciation of America

The day after July 4th, want to take the opportunity to express my appreciation for this country. I was born here. But many in my family were not. In fact, a whole bunch of my family members had the misfortune of being born Jews in Eastern Europe in the early 20th Century. Most of them

A nice win for Adaptive Realty Fund 3

Just completed the refinancing of the first of two properties in Adaptive Realty Fund 3, a pool of $2.41MM we raised approximately 18 months ago. We were all in on this building for ~$2.3MM, of which $800k was a bridge loan and the rest was cash. Because we’re good at what we do, the property

Why I won’t use Lawyer’s Title again

When you’re in a commodity business like supplying title insurance in Los Angeles, you have a strong incentive to provide really great customer service, because, otherwise, how can you distinguish your company from all the other companies providing exactly the same coverage at pretty much the same price? So it’s been pretty frustrating this morning

Brexit is making Mr. Market nuts

Am not a huge stock market guy by any means. The vast majority (I mean, vast – like 98% or something) of my personal net worth is in LA real estate. Still, I am interested in the public equity markets because they’re fascinating. And today’s Brexit-related market gyrations put me in mind of Benjamin Graham’s famous

Adaptive to Craigslist: Take our money, please

You’ll rarely hear us asking a company to take our money. But we’re doing it today. As you probably know, we’ve been hit by a rash of scammers posting fake Adaptive ads, hoping to steal money from naive potential renters. This scam works because the cost of customer acquisition is basically nil. All the crooks need to

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