I have no idea where the market is going? Anyone who says they know definitively and isn’t absolutely rolling in dough is bullshitting you, because, if you are certain the directions of prices in any market, you don’t spend your time talking to people in the media – you go make big bets on Wall Street.
Want to pick up on something I wrote a few days ago. I mentioned that one of the attractions for Lucy and me about buying and living in a small apartment building is that it will allow us to get by on one salary for as long as our kids need Lucy to be home. One
I was trying to buy a small office building in East Hollywood. Because it was a former gas station, we were concerned it was contaminated. I spent an enormous amount of time trying to structure a deal that would put the risk on the owner, not me. Eventually, it became clear I couldn’t do it
One of my agents, Bana Haffar, just closed a very difficult deal on a 4plex in Mid City for one of our clients, a very successful, busy guy who was looking to lock in a great interest rate on an income property in a gentrifying part of LA. Thought you might be interested in the
A lot of people are wondering whether it’s already too late in the cycle to buy. After all, prices have bounced back up off the floor of 2009-10. For context: I sold a bunch of totally renovated buildings in 2011-12 for 10-10.5x the rents. I would get 11x all day right now, and possibly more.