Had an interesting issue pop up on a brokerage deal yesterday. After we inspected, we received the prelim and transfer disclosure statement, both of which indicated that a fence ostensibly on the property we are considering buying is actually encroaching on a neighbor’s lot. Clearly, seller was aware of the situation prior to us inspecting. The … Continue reading “How much to disclose pre-inspection”
Author: Moses Kagan
Apologies for the lack of posts!
My wife, Lucy, and I just welcomed a new addition to our family: Baby Giles, age 8 days or so. I decided to take an extended paternity leave this time of 2.5 days. Am back in the office now and crazy busy with the deals we have in escrow for our funds / partners / … Continue reading “Apologies for the lack of posts!”
Dealing with buyer conflicts
One of the issues I deal with periodically is “buyer conflict”. By buyer conflict, I mean the situation where multiple buyers with whom we are working decide to offer on the same piece of property. As you might imagine, this presents a problem: We always want to help our clients get what they want, and … Continue reading “Dealing with buyer conflicts”
Leaving a dog?
We just completed a move-out that came about as a result of going to eviction court. As part of a settlement, the tenants who were under eviction agreed to move out, rather than face formal eviction / a judgment / etc. These were not very nice people, to put it mildly, and we’re happy they’re … Continue reading “Leaving a dog?”
Navigating the broker/principal divide
One of the weird things about our business is that I am both a broker and a principal investor. That means I look at deals for other people and for myself. Who cares? Other brokers. Brokers make money as middlemen. Their goal is to know who’s selling and who’s buying and match the two together. Simple, … Continue reading “Navigating the broker/principal divide”
How I pick agents
Was just thinking about the commonalities among the sales agents we’ve recruited to Adaptive Realty, Inc. and thought it might make interesting for everyone. Here’s what we look for: 1. Integrity – This one is obvious. I can tolerate mistakes (the first time someone makes them; not the second). But I absolutely can not tolerate … Continue reading “How I pick agents”
Why I don’t write much about our funds
Got an email from a reader recently asking me why I don’t write more about the funds we run. Believe me, I’d love to! The problem is that I don’t want to run afoul of securities regulations, which prevent the open advertising / marketing of unregistered securities. The reasoning behind these regulations is sound: The … Continue reading “Why I don’t write much about our funds”
A nice bit of (loan) brokering
One of my agents, Marcus, is closing on a really sweet FHA fourplex deal today for a client. It’s so attractive that I’m still kicking myself for not buying it for one of my funds (I tried, believe me). This deal was not without hiccups, to put it mildly. The client came to us with … Continue reading “A nice bit of (loan) brokering”
Just sent out a fourplex deal
If you’re on my mailing list, you received an email this afternoon with a good idea for putting out around $365k and getting back around $42k / year (and rising). For those not doing the math along with us at home, that’s a return of roughly 11.5%, not including equity build-up as you pay down … Continue reading “Just sent out a fourplex deal”
How to buy an apartment building
Here is how to begin the process of buying your first apartment building: 1. Determine whether you are the kind of person who should own an apartment building. Some people just aren’t cut out to own apartment buildings. Before plunging in, read this to find out whether you’re one of these people. Believe me… better … Continue reading “How to buy an apartment building”