This blog usually covered apartment buildings. Today, however, I want to say something about single family homes. Generally speaking, I’m not a fan of single family homes as investments. Buying one is really a consumption decision and you really ought to do it only when you’re very confident that you will be able to generate … Continue reading “A plug for Mt. Washington”
Category: Brokerage
What happens when you do a bad deal?
One of the saddest things about my business is watching people do deals which are undeniably stupid. Want an example: How about paying 13x rent for a 5+ unit deal with a bunch of leverage and no plan for removing the tenants / raising the rents? If you do a deal like that, here’s what … Continue reading “What happens when you do a bad deal?”
Don’t be an ignorant seller
Building owners are usually some of the least informed market participant regarding the value of their own properties. Why? Well, compare them to: Brokers are in the market all the time, checking the MLS and Loopnet, looking at which properties sell and which don’t, etc. As long as they focus on a particular property type … Continue reading “Don’t be an ignorant seller”
1947 Clinton St is sold
Apologies for the long gap in posts. As you will see in a moment, it’s been a busy run-up to the holidays for us here at Adaptive. On Friday, we closed on the sale of 1947 Clinton St., the fourplex we bought in October of 2012, renovated, and put on the market right at the … Continue reading “1947 Clinton St is sold”
Know anyone we can help?
Have been mulling over an idea for a few months that I’d like some feedback on. Here goes: I would like Adaptive to help one deserving family which currently rents become owners of a small apartment complex. Here’s how it would work: We identify a family to help We help the family find and offer … Continue reading “Know anyone we can help?”
Check the permits
Are you considering buying a recently renovated building? One that has washers and dryers in the units? Check the permits! To put washers and dryers into a building that was not built for them, you need to re-size all of the plumbing, including water supply, waste and gas lines. If you put washers and dryers … Continue reading “Check the permits”
1947 Clinton St is on the market
Regular readers may remember 1947 Clinton St: It’s the gigantic fourplex at the corner of Alvarado and Clinton acquired by Adaptive Realty Fund 1 roughly a year ago. When we bought the property, it was in rough shape due to roughly 30 years of neglect by the previous owner. Pretty much everything that can wear … Continue reading “1947 Clinton St is on the market”
My last 12 months brokering
Thought you might be interested in some rough stats on deals I’ve personally brokered in the last 12 months. The raw numbers: 17 deals 94 total apartments $14,284,000 in total value All of the above were apartment deals ranging in size from several duplexes in Silver Lake and Echo Park up through a 16 unit … Continue reading “My last 12 months brokering”
Hi Moses…
Hi Moses It’s been about a month since escrow closed on my purchase of [redacted]. I want to thank you for directing me to David and let you know that I’m really pleased with the way he helped me find and manage the deal. The deal was great for multiple reasons including a foreclosure that … Continue reading “Hi Moses…”
Interesting fourplex deal
One of my agents ran across an interesting deal in an improving neighborhood in NELA. It needs a bit of work, say, $30k, but would work as a great owner user or investor property. If you are an owner-user, you could potentially use an FHA loan on it, which would allow you to buy with … Continue reading “Interesting fourplex deal”