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Brexit and London and Talent, Oh My!
I am sitting here in New York reading goodness knows how many articles on the Brexit. It is getting more coverage than any other news right now. I recognize it is juicy for the media because there are all sorts of thought-provoking issues that touch on how human beings can live together (or maybe not… Read more
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What “Inning” of the Real Estate Cycle Are We In?
I have now practiced real estate law for almost 35 years, which is a long time to do anything. I am not absolutely “sure” about many things; however, I am confident that no one has a crystal ball about what the markets are going to do. Some real estate people seem to be so doggone… Read more
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Uniqueness – The Bane of Fundraising
I have seen this time and again. Someone uses their brainpower to come up with a cutting-edge idea for real estate investment. It is a niche (a “Power Niche” as I call it), or a way of looking at real estate that no one has done before. It seems pretty cool, but the lament is… Read more
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More Thoughts About Value Creation – Melding Narrow and Broad Thinking
This is going to get really philosophical (even for the Real Estate Philosopher) so please stay with me – it is mercifully short, but very important….. In earlier articles I have argued the value of trying to “own” a smaller niche in order to have the ability to create value within that niche. The value… Read more
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Three Words That Might Change How You Look At The Real Estate World
I will get right to it – here are the three words: “Competition is Evil” Competition is a truly horrible and terrible thing and should be avoided at all costs! All competition does is destroy your profitability, as we all no doubt remember from our first year economics course in college. Indeed theoretical “perfect competition”… Read more
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Gorging on Leverage Always A Dumb Idea?
Heresy – according to a dictionary I found on-line, is a word that means Any belief or theory that is strongly at variance with established beliefs, customs, etc. I think it has become heresy to advocate a lot of leverage – at least for “conservative investors” in investment funds. But I am going to do… Read more
Bruce Stachenfeld 