BLK 04 — Approach

Four verbs, repeated for decades.

Hold. Maintain. Reserve. Reinvest. The order matters, and so does doing all four every year.

Walk the block. One verb per building.

Scroll to walk
01

Hold

We buy to keep. A sale is the exception we plan for, never the plan itself. That frees us to make every decision on a thirty-year clock.

02

Maintain

Roofs, façades, boilers and risers get attention before they ask for it. We walk every building on a regular rhythm and write down what we see.

03

Reserve

Cash set aside in advance turns emergencies into line items. The reserve is sized for the bad year, not the average one.

04

Reinvest

What the buildings earn goes back into the buildings first: better systems, quieter stairs, brighter halls.

BLK 04.1 — What we don't do

A short list of refusals.

  • No.1Flip.
  • No.2Chase the quick cycle.
  • No.3Defer what a building is telling us.
  • No.4Treat a repair budget as a suggestion.
A rooftop water tank on a steel frame above a brick apartment building in New York
Fig. 10Water tank, steel frame
BLK 04.2 — Reading a building

Seven places we always look.

Choose a number on the drawing. This is how we read any building before we hold it, and how we keep reading it afterwards.

01 / 07

Roof & parapet

Water gets in at the edges, so that is where we start: flashing, coping, drains, the tank and its supports.

Look for — Pooling, patched patches, loose coping

Read the note: how to read a building