Results for ‘Brokerage’ category

Will we give free advice?

Here’s a paraphrase of an email I got yesterday: “I’ve been working with another broker. I can’t seem to find any deals. Can you please give me some free advice about what I should buy.” I don’t mean to pick on the guy who sent it, but this kind of email drives us crazy. Why? We’ve worked long

An appreciation of our team

Two of our agents are close to closing difficult deals right now. Both agents spent a ton of time with their respective clients, looking at who-kn0ws-how-many deals before finally honing in on these targets and getting them into contract. In escrow, both deals have had multiple issues with appraisals, lenders, etc. It’s looking like both deals

What happens when a sub-market gets hot

Here’s one of the irritating things that happen when a neighborhood gets hot: Amateurs jump in. Someone puts a good deal on the market. Amateurs, seeing the kind of rents we get but not how much it costs to get them, bid the price up. We lose the auction. The amateur wins the auction but fumbles the

Hello agents!

It has recently come to my attention that many Los Angeles real estate agents read this blog. It’s not that surprising. After all, as we have discussed here many times, apartment deals, particularly in rent controlled areas like LA, are very, very different from single family or condo deals. And the multifamily training provided to

You can’t juke the operating expenses

There’s another broker with whom I’m acquainted who always seems to have amazing deals to show her clients. Every week or so, I see her pitching deals with 8-10% cash on cash returns. Eventually, I started to get curious. After all, this is a tough market. I have every advantage in the world, and it’s not easy for

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