Today I want to talk about a major gap I see in the lending market. As a real estate entrepreneur, your choices for loans generally boil down to: Bank loans, which cost in the range of 3.5-4.5% but are painful to get (because of the underwriting process) and take 30-60 days to close; or Private
And… we’re back. As you know, we’re in the process of “rehabbing” a 4plex in Echo Park right now. I say “rehabbing”, because it’s effectively new construction, as you will see below. When we started this project, I was mentally prepared to treat it like a standard rehab deal, except with slightly more risk and
Am headed to Costa Rica for vacation this week, so posting will be light (again). The good news is that we’ve got an interesting ground-up deal in contract and are circling another interesting repositioning play. You knew I couldn’t actually not work for a week, right?
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!