I get asked this question a few times per week, so I figured I’d post my answer here so that I can just refer people and save my breath. Let’s start out by saying I fall in love with a lot of properties, many of which don’t necessarily have such great numbers on the surface.
One of the issues that’s been popping up for me lately is how buyers handle the transition to owning once the deal is done. When you buy the kind of buildings I favor, the ones with low-paying, rent-controlled tenants in them, there is inevitably deferred maintenance that needs to be addressed. The kinds of things
Claim you’re buying all-cash; then use a loan Attempt to chip price materially; blame lender When seller resists price chip, force your agent to take a commission reduction, even though he brought you an off-market deal Request an extension of closing Request another extension of closing When seller requests payment for delay, act surprised Ask
In basketball, a tweener is a player who’s between positions, like a slow, 6’6″ forward with a strong post game. He’s too strong for small forwards and too quick for power forwards. But, he’s also too slow to guard small forwards and too short to post-up power forwards. There’s value there, but it comes with significant
I’m on the record repeatedly extolling the virtues of owning in East Hollywood. I generally think owners there underestimate the achievable rents and that buyers can therefore occasionally find deals that makes sense, even at today’s inflated prices. Today, I figured I’d check in on the income properties on the market in East Hollywood to