Today, we’re closing on a 4plex that warrants some special attention. It’s in a good neighborhood, it’s ~4700 sq ft, and we’re buying it for $810k, or $172 / sq ft. That’s a great deal in a neighborhood where the cheapest comp I can find in the last six months sold for $300 / sq.
Am heading down to Irvine with Jon to participate in a panel on mid-market acquisitions. So, in lieu of a longer post, here’s a group pic from the Adaptive holiday party last night… we’ve come a long way in three years!
Apologies for the lack of a post yesterday and for the short one today. Jon and I are headed out of town to take a look at a deal we might buy. Will I tell you where we’re going? No. Suffice it to say that, when we see a deal for $100/sq ft in an
Here’s a question that’s been popping up all over the place: Why do developers only build apartments for the rich? The answer, as with most things in our business, is in the math. Imagine you can buy enough land to build 10 units for $1MM, or $100,000 per unit. Let’s say you have two options:
Buying a condo is about 1000x easier than buying an apartment building. Among the things you don’t have to worry about are: foundation, roof, rent control tenants, environmental issues, etc. But there are still some pretty important things to consider, things about which the vast (and I mean VAST) majority of agents know nothing. 1.