Results for ‘How to’ category

If I were a broker…

…who didn’t also renovate tons of apartment buildings, I would: Run rent surveys across all relevant neighborhoods, all the time Constantly poll my clients about construction costs for different finish levels and unit sizes Constantly poll my clients about eviction / tenant relocation costs Why would I do all these things? Because, without the above

Taking apart a deal: An East Hollywood Duplex

Today, I’m going to try something new: Taking a look at a deal in one of our neighborhoods so that we can get a sense for what the numbers look like for the new owner. So, let’s take a look at an East Hollywood duplex that sold yesterday. I should start out by saying I didn’t offer

How DWP steals your money

If you manage apartment buildings, you can probably guess what I’m about to write about. If not, here goes: DWP is criminally under-staffed / incompetent DWP makes huge numbers of mistakes Getting someone on the phone to correct the mistakes and/or request normal service changes takes 30-90 minutes, each time For an individual trying to

Why we don’t announce closings

If you’re at all active in real estate, your email account is spammed daily by brokers announcing the closings of their latest deals. Why do they do this? Because doing so: Shows everyone in the market how active the broker is Keeps the brokers’ name in front of potential clients, increasing the chances potential clients call

Adaptive’s proof of funds problem

When you make an offer on a building, what you’re really saying to the owner is: “Please give me the exclusive right to consider buying your building at this price for the next 21 (or 30 or 60) days.” For an owner to accept, she needs to be ok with your price and, crucially, as

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