Results for ‘How to’ category

Why I don’t talk about cap rates

About 10 times a week, people ask me what kind of cap rates I expect from our deals. In my answers, I strongly resist using the term cap rate, to the point that people think I’m a little strange. This is kind of weird, right? Any book you read about investment property is going to

All about earthquake shut-off valves in Los Angeles

Was at an inspection yesterday and got an interesting question from the listing broker, which I think deserves an answer here. The building in question, which was built in the late 1980s, had one earthquake shut-off valve installed on each bank of gas meters. For those who don’t know, an earthquake shut-off valve is a

Why it all comes back to judgement

One of the under-appreciated qualities that go into doing what we do is judgement. Almost every project brings with it unanticipated problems, from the trivial to the potentially severe. At this point, I think it’s fair to see that we’ve seen the majority of these problems before and know the solutions. But, even now, after

You can’t juke the operating expenses

There’s another broker with whom I’m acquainted who always seems to have amazing deals to show her clients. Every week or so, I see her pitching deals with 8-10% cash on cash returns. Eventually, I started to get curious. After all, this is a tough market. I have every advantage in the world, and it’s not easy for

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