From the “This Ain’t Just Capital Deployment” files: What did you do at your job yesterday? Me? Oh, I negotiated and then personally oversaw voluntary move-out by a guy who had been arrested for threatening his neighbors with an ax. Of course, I brought along two armed guards, plus a crew to help move his … Continue reading “What I did yesterday”
Author: Moses Kagan
A long term building program
Have been doing some thinking about ground up development of small-to-medium size apartment buildings lately. We’ve not built ground-up before, but we’re getting closer and closer and I believe ground-up is likely to be a big part of our business mix in the coming years. Here’s how I think about it: Assuming reasonable planning … Continue reading “A long term building program”
The Boomer condo opprotunity
My folks are planning to begin spending ~6 months per year in LA. I’ve therefore been looking into suitable rentals and condos. My parents are among the oldest Boomers. Like many of their generation, they’ve accumulated a decent amount of wealth through hard work and frugal living. Now, they want to spend time in LA. … Continue reading “The Boomer condo opprotunity”
Why would I sell?
“Do you have anything in your portfolio that you’re considering selling?” I get that question at the end of almost every conversation I have with a broker. And it makes sense, right? You don’t get business without asking for it. But the answer is, most assuredly, “No, and I probably won’t sell ever again.” Once … Continue reading “Why would I sell?”
Are there deals?
Someone asked me today whether there are any deals to do right now. My response, as always, was a question: “What are your return requirements?” If you need to get to an 8% / year unlevered yield, then I can probably put out $3-5MM / year (eg not very much). If you’re willing to live … Continue reading “Are there deals?”
How leasing impacts acquisitions
“Hey Jacob. What did we get for the last 2/1 we rented at X?” I think I ask that question of Jacob, who runs our management business, 4-5 times per week. Why? Because we’re constantly recycling the market information we glean from leasing back into our acquisitions underwriting. The go/no go decision on each deal is … Continue reading “How leasing impacts acquisitions”
A moment of appreciation
I know I write a post like this every six months or so, but… Can’t imagine being happier about my work situation than I am at Adaptive right now. Certainly, there are problems, like there are in every business. But I get to sit at my desk doing EXACTLY what I like to do… which … Continue reading “A moment of appreciation”
An off the wall idea for housing the homeless
Have been doing some more thinking about homelessness in LA and want to share an idea. Let’s assume that LA accepts responsibility to house anyone within its borders who finds himself without a home. In a perfect world, where the city had unlimited money and land, the simplest solution would be to build housing for these … Continue reading “An off the wall idea for housing the homeless”
One simple thing LA could do to reduce homelessness
Yesterday, the LA City Council declared a “state of emergency” regarding homelessness and pledged to spend $100MM to help ameliorate the problem. As you might imagine, I have plenty to say about how the city handles homelessness in general and about this plan in particular. But today I want to focus on one particular aspect … Continue reading “One simple thing LA could do to reduce homelessness”
What happens to Adaptive in a downturn
“What happens to you guys in a down-turn?” A contractor with whom we do a LOT of business asked us this question yesterday. He’s concerned, because he’s basically given up working with anyone else in order to handle the volume we’re sending his way. (Incidentally, he’s not the only one: We have three contractors now … Continue reading “What happens to Adaptive in a downturn”