The FORT Podcast: Moses Kagan – Part 2 | On Value-Add MF, A New Core Strategy, ReConvene, Los Angeles, and How He’s Looking at The World

Moses Kagan is the Co-Founder and Head of Adaptive Realty, a Los Angeles-based development, and property management group. Since 2018, Moses has overseen the repositioning of 80 properties in Los Angeles and grown Adaptive from $0 to $110M of property under management. Moses joins Chris for his third appearance on The FORT Podcast.

In this two-part episode, they discuss the decision to not deploy a fund he raised in early 2020 and his new core strategy. They also explore rent control vs non-rent control. How he talks to his family about wealth and potentially taking over his business, learnings from ReConvene, and where we go from here….

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(02:31) – A Discussion on Rent Control

(09:25) – Defining Moses’ New Buying Strategy

(20:36) –  How have you thought about growing your business over the next decade? 

(26:32) – How are you thinking about leaving the businesses to your kids? What if they don’t want to go into it?

(35:50) – Thoughts on Growing Third Party Property Management 

(38:38) – Is there anything keeping you up at night? 

(42:13) – The Slowing Rate of Development

(46:01) – Our Collective Tolerance for Emergency

(48:28) – If I gave you $1B to put to work by the end of the year where would it go?


Episode Summary

Kagan’s notable experience and pioneering approach offer listeners a well-rounded perspective on navigating the complex landscape of real estate, emphasizing the fundamental role of robust networking and learning from hands-on experience.

Beginning with his early days in the industry, Kagan highlighted the indispensable role of relationships in laying a solid foundation for a thriving career in real estate. Learning from real-world experiences, facing challenges head-on, and demonstrating resilience have been crucial in his journey, underscoring the multifaceted nature of the industry.

Delving into property investment and development, Kagan elucidated the process of identifying and capitalizing on lucrative investment opportunities. He emphasized the paramount importance of strategic location selection, comprehensive market analysis, and thorough due diligence in ensuring informed and profitable investment decisions. His approach to investment underscores the significance of a meticulous and well-informed strategy to optimize returns and minimize risks.

The podcast also explored the nuanced topic of urban development and gentrification, offering a balanced and thoughtful perspective. Kagan advocated for a harmonious balance between progressive development and community preservation. Ethical and responsible development practices stand at the forefront of his approach, ensuring mutually beneficial outcomes for investors and communities alike.

In discussing real estate financing, Kagan outlined diverse financing options, each with its unique advantages and considerations. Aligning financing strategies with specific investment goals and risk profiles is crucial in securing optimal financing solutions, ensuring sustainable and successful investments.

Addressing the operational dimensions of real estate investment, Kagan shared invaluable insights into effective property management and maintenance. Focused on maximizing investment returns, his approach encompasses ensuring tenant satisfaction, proactive property maintenance, and timely renovations, enhancing property value and ensuring long-term investment success.

The conversation further delved into the challenges and obstacles inherent in the real estate sector. Kagan’s practical advice and solutions for overcoming these hurdles highlight the importance of adaptability, problem-solving skills, and a commitment to continuous learning and growth.

Highlighting the emerging trends and opportunities in the real estate market, Kagan discussed the transformative impact of technological advancements and the growing emphasis on sustainable and eco-friendly development. These innovative trends present new avenues for investment and development, aligning with contemporary demands and future-oriented approaches.

With a long-term perspective on real estate investment, Kagan emphasized the significance of patience, strategic long-term planning, and a focus on sustainable growth. Building a resilient and diversified real estate portfolio is paramount, ensuring consistency in returns and the ability to withstand market fluctuations.

In discussing the essential skills for success in real estate, Kagan highlighted the ongoing learning process, the value of industry networking, and staying updated with the latest industry trends and developments. Integrity, transparency, and ethical conduct stand out as the pillars for building a reputable and successful career in the real estate sector.

In essence, Kagan’s comprehensive insights, covering a wide spectrum from investment strategies, financing options, and operational management to overcoming challenges and leveraging emerging trends, highlight this episode as a must listen.

The Fort is produced by Johnny Peterson & Straight Up Podcasts.

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