@ReSeedPartners Just want to note that I'll be plugging along building Adaptive at the same time... RS is kind of a way to leverage what I've learned doing deals in LA across a much wider geographical area.
We manage ~70 Los Angeles apartment buildings on behalf of 3rd-party owners.
If you have a great asset in a great asset, intend to own it forever, & are in need of good, long-term-oriented property management, pls reach out via DM.
The longer you manage apartments, the better you understand the old owners who refuse to provide even a fridge (let alone a dishwasher or AC).
The counter-argument is the “accretive to yield” one, where people do a little calc, like “it cost $500 and adds $50 to rent”.
And that argument is usually correct… but, man, does it complicate management.
If you are interested in reading a slightly longer take on the Los Angeles apartment market, the opportunities we're seeing, and how we intend to address them, please join my mailing list by clicking the link in my bio.