Results for ‘Development’ category

Ground up construction rules of thumb

As you know, I’m not a developer; I do rehab deals. That said, I’m a curious guy and I used to spend a lot of time looking for construction deals. Pretty often, when I was looking at potential projects, I used to find myself wishing for some simple way to estimate the cost of building

Our latest project

We recently closed on a 5 unit property in Echo Park which we’re doing with a partner. They put up the dough and we’re handling all the work of buying out the tenants, designing the renovation, doing the actual construction, and then leasing the newly-renovated units. When all is said and done, our partners will

Why there are vacant lots in Los Angeles

Have you ever wondered why there are vacant lots in Los Angeles? Blame Prop 13. Proposition 13 is an amazing law for California property-owners. Passed through CA’s referendum process in the late 1970’s, Prop 13 sets property tax at 1.25% of a property’s original purchase price and restricts increases to 2% per year (until the

What you do before buying land for development (part 1)

Little known fact: Under federal law, if you buy a parcel of land that’s polluted, you become responsible for cleaning up the pollution, even if you weren’t the one who polluted it. I once was in escrow to buy a huge, sweet parcel on Sunset to develop into apartments. It turned out to be the

What’s a NNN (triple net) real estate deal?

Mostly, this blog covers apartment investing. That’s because apartments are the easiest part of the real estate game for new investors to enter and also the part that I know best. But there are other parts, some of them pretty interesting. Take NNN investing, for example. NNN (“triple net”) refers to a kind of commercial

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