Found myself talking about neighborhoods with a new agent of ours yesterday. We were discussing why our deals (both the ones we do for ourselves and the ones we broker) tend to be grouped in a few main areas, none of which are the Westside, Hollywood, or Miracle Mile. It’s not that we dislike working … Continue reading “Why we’re in emerging neighborhoods”
Category: How to
A small problem with putting solar on your roof
There’s a slight problem with putting a solar system on your roof: You may be radically reducing the value of your property. Now, this doesn’t go for all homes. It’s specifically the case with home in cities where the zoning allows for denser development. So, for example, consider an old 800 sq ft single family home … Continue reading “A small problem with putting solar on your roof”
Before and after pics of our new Highland Park project
Thought you guys would appreciate some before / after pics of our most recently-completed project, now in lease-up. If you know anyone looking for a great 1/1 or 3/1 in Highland Park, have them email franklin [at] adaptiverealty.com.
Why I don’t talk about cap rates
About 10 times a week, people ask me what kind of cap rates I expect from our deals. In my answers, I strongly resist using the term cap rate, to the point that people think I’m a little strange. This is kind of weird, right? Any book you read about investment property is going to … Continue reading “Why I don’t talk about cap rates”
All about earthquake shut-off valves in Los Angeles
Was at an inspection yesterday and got an interesting question from the listing broker, which I think deserves an answer here. The building in question, which was built in the late 1980s, had one earthquake shut-off valve installed on each bank of gas meters. For those who don’t know, an earthquake shut-off valve is a … Continue reading “All about earthquake shut-off valves in Los Angeles”
Why it all comes back to judgement
One of the under-appreciated qualities that go into doing what we do is judgement. Almost every project brings with it unanticipated problems, from the trivial to the potentially severe. At this point, I think it’s fair to see that we’ve seen the majority of these problems before and know the solutions. But, even now, after … Continue reading “Why it all comes back to judgement”
You can’t juke the operating expenses
There’s another broker with whom I’m acquainted who always seems to have amazing deals to show her clients. Every week or so, I see her pitching deals with 8-10% cash on cash returns. Eventually, I started to get curious. After all, this is a tough market. I have every advantage in the world, and it’s not easy for … Continue reading “You can’t juke the operating expenses”
From whom should I borrow?
(Sorry for the obnoxious headline… my inner grammarian wouldn’t allow me to end a headline with a preposition.) Had a friend call me today asking that simple question. Turns out a broker has been pushing her to use a particular loan broker and my friend wanted to know if that was good advice or not. So, without … Continue reading “From whom should I borrow?”
What I’m a sucker for…
I have a deep, embarrassing, long term addiction to low price per sq ft deals. There, I admitted it. Do you know why I’m addicted? It’s pretty simple: 1. On the tenant side, buying for a really low per sq means that you can offer large apartments at relatively low, per sq ft rents and … Continue reading “What I’m a sucker for…”
A well-run sale process
We’re currently participating in an interesting sale process, so thought I’d share the details. The seller and listing broker have chosen to run their process differently than most and will, I think, achieve better than average results. To understand what they’re doing differently, you first need to understand how a normal process works. In a … Continue reading “A well-run sale process”