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”
Category: Development
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”
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”
938 White Knoll is done
We’re just finishing up renovations on this 9 unit property on behalf of another investor group. The property is fully leased and, in my opinion, pretty damn awesome. Take a look at the before and after shots below:
Rain’s coming
Yesterday’s LA Times had a pretty strongly-worded article warning about this winter’s El Nino, which is shaping up to be a once-in-a-generation weather event. Why am I writing about this now, during the summer, on a real estate blog? Because now would be a good time to replace worn-out roofs on your buildings. Once the rain … Continue reading “Rain’s coming”
An interesting deal we won’t win
I got a call about an interesting building in Highland Park a few weeks ago. Ordinarily, these are the types of calls I love… an interesting deal, a broker with whom I’ve done plenty of business, etc. But this one is almost definitely not happening, and here’s why: Because it’s a bankruptcy sale conducted under … Continue reading “An interesting deal we won’t win”
Here we go again
We recently started work on another project, this one an eight unit deal in East Hollywood, right near some other projects we’ve done. It’s an interesting project: The front four units are going to be huge 3 beds and the back four (which were built later) will be reasonable sized 1/1s. We’ve got some parking … Continue reading “Here we go again”
It’s starting again (again)
Late last week, we started on yet another apartment renovation project. This one is six units in Highland Park. Unlike some of the other projects upon which we’re working, this building has pretty good bones. Am really excite to see how it comes out.