Los Angeles Jamison
Hi all, Sorry for short post new user character limit. Does anyone know how Jamison in LA is able to fund/develop so many projects simultaneously?
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Uhh... Dr. Lee's firm?
How new to real estate are you?
Pretty new, I'm just wondering how so many projects can be funded all at once they have like 10 developments all going up at the same time. especially in such a costly area like metro la. if it's a dumb question will delete post lol
We call this phenomenon "leverage," and it's a pretty fucking powerful tool to do a lot of shit at once.
Of course, if things go south, you tend to lose it all.
Kind of... Also giving you a hard time.
If you really want to be shocked check out Hackman.
For one, they have capital partners, they probably get a 65% LTV loan, and of the remaining 35% of equity, they could get a 90/10 or 95/5 JV partner, so they only put in ~3%. On top of that, they may get an acq. fee of 1%, so knock that down to 2%.
They bought a lot of real estate in emerging areas 10+ years ago (Ktown) and have a super low land basis. That's pretty much it. Mark-to-market on current land values, they are probably worth billions on paper.
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