Results for ‘Rehabbing’ category

An (almost) free way to stimulate the LA economy

Previously, we’ve discussed how an equation embedded in the Housing Department’s Primary Renovations program is responsible for perpetuating slum conditions in rent control buildings. Today, I want to suggest a simple change to the equation that would, I believe, kick off a large wave of construction in LA benefiting all of us while costing very

Rent control and slums

Spent a bunch of time recently talking to tenants in a 1920s building. They told the story of how their building turned into a slum. In a nutshell: The owner 30 years ago used to live in the building. He took a lot of pride in the building and fixed all problems immediately. Then he

Do I see any good deals?

Recently, people keep asking me if I see any good repositioning / flip deals to do. And my answer boils down to this: Yes, but only for certain types of investors. Here’s what I mean: Right now, prices for apartment buildings, especially small apartment buildings, are high and rising. A year ago, you could buy

Adding washers and dryers to your units? Careful!

One of the best ways to add value to an apartment building is to add washers and dryers to the units. Why? Because tenants will typically pay $100-150 / month in rent in order to avoid using shared laundry rooms or, worse, going to laundromats. The math is easy: $100 / month in extra rent

Beware of laundry leases!

When you first buy a building, you’re likely to be approached by someone, often the management company you hire, about signing a laundry lease. It will be pitched to you as a convenience for your tenants and an opportunity for you to make some extra cash. Be careful! What’s a laundry lease? It’s an agreement

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