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Jan Brzeski's  Instablog

Jan Brzeski
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I manage several funds dedicated to investing in single family homes. The bulk of our business consists of making loans to developers who specialize in buying, renovating and reselling single family homes in California, in order to generate steady income with a healthy margin of safety. We have... More
My company:
Arixa Capital Advisors, LLC
My blog:
Jan Brzeski's Blog
My book:
The Common Sense Guide to Real Estate Investing
View Jan Brzeski's Instablogs on:
  • 8th Annual Real Estate Investment Round Table At UCLA Anderson–“The Yellen Years: What Will They Mean For Real Estate?”

    Please join me on April 30, 2014 at Arixa Capital's 8th annual Real Estate Investment Round Table at UCLA Anderson-"The Yellen Years: What Will They Mean for Real Estate?".

    The panel will feature John Brady of Oaktree, Sam Freshman of Standard Management, Bill Lindsay of PCCP, Michael Nagin of Wells Fargo, and myself. It will be moderated by Jesse Sharf of Gibson Dunn & Crutcher.

    For more information or to register, please visit https://arixayellenyears2014.eventbrite.com

    Mar 26 2:01 PM | Link | Comment!
  • Annaly Down About 40% Since Our 2 Articles Outlining Risks--Seeking Preview Readers For New Paper

    A little over two years ago I wrote two articles about Annaly Capital, explaining their business model based on my own experience as a portfolio manager in a somewhat related business.

    The two things I like least about Annaly's model are:

    (1) mismatch between maturity of their assets (mortgage bonds with multi-year maturities) and their liabilities (lines of credit with short maturities); and

    (2) relatively high leverage, currently more than a 5-to-1 ratio of debt-to-equity.

    Together, these two features expose shareholders to very high risk of loss of principal, as demonstrated in the past five years. (I am sure there are many other factors that led to the stock's decline, but fundamentally I think the two items above are enough for risk-averse investors to avoid the company).

    This got me thinking about how investors can generate attractive yield today--in a rising interest rate environment--without sacrificing preservation of capital. I do believe (based on my owner work as a portfolio manager) that there are niche strategies that can accomplish both goals. However, these niche strategies require a little more effort and research to execute vs. just buying shares in a company like Annaly.

    I have written a draft white paper on the subject and I am looking for investors willing to read and potentially critique my white paper. I am also looking for ideas about how to get the ideas in the white paper out into the ongoing conversation about what investors need to do given that the Fed is going to start allowing rates to rise, probably in Q1 2014.

    If you are interested and/or willing to have a look at my white paper, please email me at jbrzeski@arixacapital.com or text or even call me at (310) 428-9109.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Nov 21 12:06 PM | Link | Comment!
  • UCLA Event July 10 - All About Investing In Single Family Homes

    If you live in the Los Angeles area, please join the Ziman Center for Real Estate at UCLA and my company, Arixa Capital Advisors, on Wednesday July 10 for an evening of food and drinks, networking and a lively panel discussion among experts with experience and insights about investing in single family homes. For more information, please CLICK HERE.

    The panel will cover both debt and equity investment strategies, including repositioning and resale of luxury and entry level homes, as well as building portfolios of rental homes. This event is perfect for investors interested in companies pursuing REO-to-Rental strategies such as RESI, ARPI, SBY and BX.

    To sign up, go to this Eventbrite page and enter promotion code ARIXA to register for only $20.

    Please feel free to contact me for more information about the event, or about our business. Arixa specializes in making loans to developers who buy, renovate and resell single family homes in California, with a special emphasis on luxury homes that will sell for $2-$6 million upon completion of a major renovation.

    Jan Brzeski

    (310) 428-9109

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Jun 29 6:48 AM | Link | Comment!
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