Just in case anyone thinks what we do is glamorous, thought I’d give you guys a sense for what I’m working on today. Am working on securing four different loans: Refi of a stabilized property so we can return ~70-80% of the capital invested to our investors Two bridge / construction loans One line of credit
Jon and I were talking about a deal we’re considering doing. We were going through the pluses and minuses, trying to make sure we were both comfortable with it. One of us said: “…, and we would be putting out a ton of capital.” We both paused, laughed, and then shook our heads. The reason
Have just begun the process of refinancing 201 N Ave 55, a 12 unit property we renovated and recently stabilized. Thought I’d share with you an irritating issue I’m running into, so that you aren’t surprised when it happens to you. Let me begin by giving you some sample numbers. These aren’t actuals for the
Just started Peter Thiel’s book about start-ups. Among the more interesting arguments in the book is about competition. Thiel argues that competition is a bad thing for businesses, because economic theory teaches us that, in competitive markets, profit is competed down to zero. Instead of entering into competitive markets, Thiel advises striking out into new
One of the iron-clad rules I learned while doing the Better Dwellings portfolio is about to be turned on its head by the city council. Here’s the rule: Never buy a building with a non-conforming unit. I learned that rule the hard way at 2117 Clinton St., where we got whacked on a SCEP inspection.