Every day, I drive to work along Washington and then up Hoover and then Alvarado to Beverly. As I drive up Hoover, my attention is always drawn to the beautiful old Victorian and Craftsmen homes in that part of town. It’s always sad, though, because the few that remain are on horribly ugly streets surrounded … Continue reading “A disastrous HPOZ”
Author: Moses Kagan
How to think about the future of inner-city multifamily
Curbed LA had an alarmist piece yesterday re the increasing “un-afordability” of LA apartments that I think draws attention some important long-term trends shaping the apartment business. First, here’s the money quote: “…[A] person earning median income in LA would have to spend 47 percent of that income on the median rent. That’s higher than any other city … Continue reading “How to think about the future of inner-city multifamily”
Happy tax day
Every April 15, I go through the same emotional two-step: 1. Outrage. Since we’ve got Adaptive on a firm footing, I’ve been writing fairly large, annual checks to the IRS. It’s painful every year, because it feels like the government puts a major impediment in the way of anyone trying to turn earnings into wealth. … Continue reading “Happy tax day”
1012 N. Virgil is sold
We’re very pleased to announce (belatedly!) the sale of 1012 N Virgil, a 4plex renovated by Adaptive Realty through our first investment fund. Here are the numbers: Purchased for $427,000 in November of 2012 Renovated for $380,000 Rent roll upon completion of $111,000 Approx. $40,000 in cash collected prior to sale Sold for $1,274,000 at … Continue reading “1012 N. Virgil is sold”
Thinking about retirement
(Not me – don’t get excited.) Over the past few days, I attended a conference for wealth managers. I won’t lie: My intention was to meet the people tasked with managing assets for affluent investors, with the idea of convincing some of them to steer their clients my way. Turned out to be the wrong … Continue reading “Thinking about retirement”
How the price of land affects your income taxes
Yesterday, the Eastsider reported on the proposed sale of a piece of land on Temple entitled for 69 units. That got me thinking about the value of land in Echo Park and how it impacts the income taxes of property owners there. (Warning: This piece is a little heavy on the math, but it’s critically … Continue reading “How the price of land affects your income taxes”
A question for you, dear readers
Today, I’m throwing a question out to you, the readers. First, the backstory: As most readers know, we raise discretionary investment funds to buy and reposition apartment buildings Generally, the capital for these funds comes from affluent people (many of them close friends or family of mine) who are happy to put $100-200k to work … Continue reading “A question for you, dear readers”
Thinking of holding a seminar
I’m considering holding a 1-2 hour seminar on multifamily investment. Think the topics would include: Identifying / underwriting good deals; How the offer process works; How the diligence process works: What happens after you close May also include a tour of some of our properties (below finished and in progress). If you would be interested … Continue reading “Thinking of holding a seminar”
Seminar post-mortem
Am getting to this belatedly, but… Last Saturday, we held a seminar regarding multifamily investing here at the Adaptive offices in Echo Park (if you’re trying to be cool) / Historic Filipinotown (if you’re trying to be accurate). Turnout was great – I didn’t count, but I think we had roughly 15 people in to … Continue reading “Seminar post-mortem”
Interview with Justin Brown
Thought you guys might like to check out this video interview I did with Justin Brown.