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
Because the market is hot and interesting deals are fewer and farther between, we’ve been poking around in some new neighborhoods. Is this crazy? After all, isn’t a hot market exactly the wrong time to go outside your circle of competence? Under some circumstances, it’s not. If you can find a deal with good numbers and
When is a rehab not really a rehab? Here are some pics of a deal on Alvarado, a duplex we’re changing into a 4plex. As you’ll see, the only thing separating this “rehab” from a ground-up project is, well, a door-frame. On 7/28, after we bought it: On 9/17, mid demo: On 10/29, as the foundation