Results for ‘Property Management’ category

Avoid problems with the Los Angeles Housing Department

Pro tip: You don’t want to buy a building, only to find yourself in the middle of a war with the Los Angeles Housing Department (LAHD). Under the standard California real estate sale contract between seller and buyer, the seller has a duty to disclose any on-going issues that may effect the value of the

How you improve the neighborhood

Sometimes all you need to do to improve your neighborhood is to yell at a priest. My brother and I own a 16 unit building on Reno St (the one from this story) that’s across an alley from a new church, one of those Latin Pentacostal deals. The street itself isn’t the nicest one in

Should I hire a property management company?

Not now, maybe later. That’s it, in a nutshell. Here’s what I mean: On your first building, likely a 2-4 unit building acquired with an FHA mortgage, you don’t want or need a manager. First, you need to learn a bit about the business –  what it’s like to fill vacancies, collect rents, deal with maintenance

Open Challenge to East Hollywood Landlords

Guess what we get for one bedrooms with no parking on Westmoreland in East Hollywood. Give up? $1,500 / month. Here is an ad for the 2 bedroom unit that we have on the market now. We’re asking $2,000 and we’ll definitely get it. [Edit: We got it.] On a per square foot basis, those rents

Should you post a “For Rent” sign on your building?

No. Or, at least, not unless your building is on a high traffic street. Why? Because posting a sign does two terrible things: It makes your building look cheap. Useful signs are large enough for people driving by to see. Signs that large are almost always tacky and horrible. Do you want your building to

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