Results for ‘Selling’ category

Why I’m no longer a seller

Back when we started, Jon and I needed to sell renovated buildings. The reason was pretty simple: We needed the dough. When you’re in the money management business, you generally don’t see much in the way of money yourself until you make your partners money. They don’t take it on faith; they want cold hard

A well-run sale process

We’re currently participating in an interesting sale process, so thought I’d share the details. The seller and listing broker have chosen to run their process differently than most and will, I think, achieve better than average results. To understand what they’re doing differently, you first need to understand how a normal process works. In a

Here’s a bad selling strategy

Take a look at this listing on Silver Ridge in Silver Lake: http://takesunset.com/2013/03/2338-silver-ridge-avenue-in-silver-lake/ Absolutely beautiful example of modernist design in an A+ location. So, why am I complaining about it? Take a look at those rents. They’re getting $2595 each, which implies they were rented pretty recently (if they’d been rented more than a year

Deadlines and documents

When we write offers for apartment buildings, we usually want a 17-21 day loan contingency. The concept is to give us some assurance that we will be able to get the loan we want before we irrevocably commit to doing the deal. Pretty standard. But lately, I’ve been running into the same problem over and over

How much is my apartment building worth?

The short answer is, if it’s in Los Angeles, its probably worth more now than it has ever been worth in the past. Why? Because everyone with cash and a brain is sick of getting 0.01% interest in his/her checking account and is therefore chasing yield by buying buildings, because even a so-so deal on

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