In our business, there is a lot of money to be made. I personally know agents who have cleared north of $1MM in gross commissions in good years. I know a guy who owns one of the midsize brokerages in LA and I think he clears $5-10MM / year. Obviously, huge asset managers like Blackstone, etc.
By far the most annoying part of my business is this: I am at the mercy of the market. We’ve got every trick in the book for maximizing the rents, and therefore the value, of apartment buildings. We can take the ugliest building in the world and turn it into the kind of place that
One of our agents just bought his first apartment building, it’s an awesome story, and I thought I’d share it with you. When David Brundige came to work with us a few years ago, I knew he was exceptionally smart and entrepreneurial, since we had gone to college together. On the other hand, he knew
Just getting back to the office after a wonderful break and thought I’d take the opportunity to offer some thoughts and make some predictions on the LA market in 2015. Here they are, in no particular order: 1. Interest rates will rise, but prices won’t fall. Classic real estate finance math clearly shows that, all
Obviously there is a bunch of controversy around the renovation of apartment buildings in Highland Park (“HLP”) by our company and others. So far, the reporting on this topic has focused on the human aspect without really getting into the root economic / political issues driving gentrification in HLP. To understand why rents are rising fast