Here in LA, we’re not exactly over-supplied with parkland. So it’s particularly galling that MacArthur Park, one of the true gems of the city, is in such an appalling state. It’s surrounded by dilapidated buildings, covered in garbage, and overflowing with illegal vendors and people sleeping rough. Yes, the area around MacArthur Park is a
I’m pretty bad at doing deals for myself and my family (as opposed to doing them on behalf of investors). Why? With investor deals, we’re not capital constrained. We raise all of the cash necessary up front and are therefore in a position to make optimal choices vis-a-vis renovations, etc. With family deals, I’m always
Just finished a little triplex we renovated on behalf of another group. When they bought it, it was a diaster: Two units vacant, one occupied but falling apart. Now, it’s a beautiful little complex of three separate homes, each with parking and private outdoor space. The pics are below. Two of the units are rented.
Someone asked me last week when we have enough units to be “done”. The question threw me for a loop, because it’s something I’ve never really considered. That’s weird, right? I’m on a journey to build a big business investing money in apartment buildings and I’ve never really considered what the end-point is. I couldn’t
Just read an interesting article (Wall Street Journal, subscription required) about one of the tactics Sequoia, one of the most successful VC firms, uses to find deals and want to replicate it. Here’s a description of the program: “Since 2009, Sequoia has funneled millions of dollars to scores of well-connected entrepreneurs, academics and other people known as