When you renovate an apartment building, you may be tempted to move and/or replace the mailbox. Don’t. Why? When you install a new mailbox for an apartment building, it comes unlocked. The USPS needs to install a master lock so that the mail-carrier can access the slots. But, due to budget cuts, the USPS is down to … Continue reading “Pro tip: Don’t move the mailbox”
Author: Moses Kagan
Another flare-up in Boyle Heights
Am pretty sensitive to the concerns of many in Boyle Heights regarding gentrification, particularly after our whole blown-up bike tour. Still, can’t help but feel like chasing an opera company and a walking tour out of the neighborhood is conduct unbecoming of what appears to be an otherwise quite-thoughtful group of citizens. I know the … Continue reading “Another flare-up in Boyle Heights”
Today at Adaptive
Apologies for the sporadic posting; we have a lot of things cooking this week. In case you wonder what life is like here at Adaptive, today we are: Attending an appraisal of 830-832 N Beaudry, a building we renovated via Fund 3 and which we are now refinancing; Attending an HPOZ meeting to figure out … Continue reading “Today at Adaptive”
What chutzpah!
Have been following a listing in Highland Park for a little while and wanted to share it with you all.* It’s a decent-size deal in a good area at a somewhat reasonable price. So, what’s the big deal? If you dig into the listing info, you will see that the building has an underground parking area, which is … Continue reading “What chutzpah!”
Rendering of our third ground-up project
Thought you’d appreciate seeing an initial rendering of a nine unit building we’re going to build.
An irritating injunction
Per Curbed, a federal judge has just issued an injunction blocking the city from confiscating the property of homeless people on Skid Row. His argument is that the city is not doing a good job of distinguishing between trash and valuable items (identification documents, medicine, etc.). On the face of it, the judge’s argument makes … Continue reading “An irritating injunction”
229 S Avenue 60 is done
Thought you’d appreciate seeing pics of our latest project, a seven unit building on Avenue 60 in Highland Park. The units are pretty awesome and come with lots of parking. Best of all, they’re walking distance to all the interesting galleries, bars, restaurants on Figueroa. There’s a one bed at and six three beds at … Continue reading “229 S Avenue 60 is done”
Why we don’t have a long-term lending relationship
Got a call from a lender the other day. He had seen a loan broker with whom we work shopping one of our deals and was irked that we hadn’t come to him first. I get where he’s coming from, on one level. We’ve done several loans together, so he feels like he should have first … Continue reading “Why we don’t have a long-term lending relationship”
What we talk about when we talk about appreciation
Have been doing some thinking about appreciation and how it affects our business. First, what is appreciation? It is the tendency, over time, of the price of real estate (in Los Angeles, anyway) to increase. A bit of clarification: Obviously, there is no guarantee that real estate will increase in price over any particular time … Continue reading “What we talk about when we talk about appreciation”
What to build in LA right now
Periodically, I’m asked to answer the following question: What part of the real estate business is most attractive for a new entrepreneur right now? So I think about this question a lot. And my answer right now is: Condos for old people. As I’ve said here before, I’m among the oldest Millennials. Therefore, I’m experiencing … Continue reading “What to build in LA right now”