Want to add my voice to those urging people to vote against Prop 10. Oh, you say, what a surprise! A real estate guy who dislikes rent control! Shocking! But, honestly, we’ve learned how to make money for ourselves and our investors under rent control. The more buildings that are subject to rent control, the
We’re in lease-up on a wonderful complex in East Hollywood. Have posted some pics below. If you’re interested in a beautiful 2 bedroom apartment walking distance to Sunset Junction and the Red Line with parking and private outdoor space, reach out to Krystal [at] adaptiverealty [dot] com.
Regular readers know we’re not sellers; once we complete a renovation and lease the property back up, we refinance, return capital to our investors, then hold. The downside of this strategy is that it can take some time before Adaptive gets to participate in the cashflow generated from the property. Even when we are able
Had someone write in and ask me why we focus on unlevered yield when we look at deals. To be clear, unlevered yield is calculated by dividing the forecast annual net operating income from a property by the cost total cost of buying and renovating it… in other words, treating the project like it will
Just walked away from a really nice deal and I’m still in mourning. Last week, we were offered the opportunity to buy a group of smaller buildings in a single portfolio, off market, through a broker with whom we’ve done business before. The numbers looked good and even got a little better after inspection. I