Results for ‘Buying’ category

Here we go again

We recently started work on another project, this one an eight unit deal in East Hollywood, right near some other projects we’ve done. It’s an interesting project: The front four units are going to be huge 3 beds and the back four (which were built later) will be reasonable sized 1/1s. We’ve got some parking

A pretty large appraisal discrepancy

Apologies for the lack of posts these last couple of days. Today, I got word that an appraisal hit at the contract on price ($850,000) on a deal one of our agents is working on. That wouldn’t be such a big deal, except that another appraiser for a different bank recently appraised the exact same

The benefits of being a good acquirer

Last week, we removed contingencies on the acquisition of a 16 unit building in an A area. The price is far from a steal, but it’s fair and, more importantly, works for us. The deal was never on the MLS or Loopnet. We didn’t win a bidding war. Instead, a broker with whom both buyer and

A real broker line

When discussing a deal with me today, a very good broker I know said the following, about a deal a client had in escrow at $1.1MM: “Well, it was listed at $1.3MM.” I don’t want to pick on this broker, because he’s good, but this is a bullshit broker line. As a buyer, you should not

Closing on another one today

Today, we’re closing on a little fourplex deal in a neighborhood we really like. It’s a roughly $1.1MM all-in project, way too small on its own to be worth our time. However, it’s near a bunch of other stuff we’re renovating, it’s a simple project (no reconfiguration of the units), and we like the area

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