Results for ‘Success’ category

My surprising negotiating strategy

When I first broke off from my job in investment banking and went into business for myself, I negotiated like a jerk.  I was convinced that winning the early rounds of negotiations about setting things up was incredibly important, because doing so would set a precedent for how things would be in the future. I

Micheltorena is sold

A few days ago we closed the sale of 1516 Micheltorena, an 8 unit building in Silver Lake. Here are the relevant numbers: Bought for $954k in September 2010 Renovated for $645k Total capital outlay of $1.6MM Stabilized rent roll of $215k / year Took roughly $200k in cash out of the building while we

2241 Branden is sold

We’re recording today on the sale of 2241 Branden St., a 5 unit apartment building we renovated in Silver Lake. Here’s a pic:   Here are the numbers: Units are four 2/2s and one 3/3 Bought for $797k Renovated for $308k All in for a hair over $1.1MM Rent roll of $128k / year upon

4443 Willow Brook – Sold!

We just exited another deal: 4443 Willow Brook, a 12 unit building in rapidly gentrifying East Hollywood. Here’s an exterior pic: Here are the numbers: Acquired for $925k in July 2010 Renovated for $700k All in for $1,625,000 Rent roll of approximately $217,000 / year when we stabilized it Extracted approximately $200,000 in cashflow while

Knowing your potential tenants

People always ask me why I haven’t expanded our business into the Valley. After all, there are tons of buildings out there and clear opportunities to make money. The reason I haven’t is that I don’t understand the tenants in the Valley, so I’m not comfortable that our organization would know how to deliver a

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