Results for ‘Brokerage’ category

Bad news about open ceilings in LA apartments

Have some bad news for those of you who love vaulted ceilings in apartments… they’re almost always illegal in LA. First, what do I mean by vaulted ceilings? They’re the ones where you can look up and see the structure of the roof. Here’s an example: Beautiful, right? So, why should that be illegal? Two reasons:

4443 Willow Brook is for sale (again)

Don’t get excited. I’m not breaking my prohibition against selling any more properties. 4443 Willow Brook is a 10 unit complex Jon and I renovated in 2010-11 via our old entity, Better Dwellings. We sold it in 2012 for $2.1MM, which was around 10x the rent. Whoops. We made a bunch of money on the

Should I buy a condo as an investment?

Had two conversations with people interested in buying condos for investment purposes yesterday, so figured I’d repeat what I told them here. The first thing to understand about buying condos (and single family homes) in Los Angeles right now is that doing so is not really an investment. Why? Because prices are so high relative

Yet another irritating appraisal issue

Just had an annoying issue pop up on an appraisal one of my agents commissioned and thought I would share. This is a deal where we are representing the buyer of a somewhat run-down fourplex in an improving area. The buyer intends to spend some money upgrading the property post closing. However, the appraiser is

Why we pull the permits and how we share them with clients

Here’s an annoying catch-22 in which we often find ourselves in the brokerage business: Obtaining permits for a client. To understand why, you first need to understand how important it is to pull the permits on any building before buying it. The idea of the due diligence process conducted during the contingency period is to

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