Results for ‘Success’ category

Elon Musk: An appreciation

When my brother and I bought our first building, I can remember this odd feeling when we began to advertise our apartments for rent. I felt like I should be asking someone’s permission to rent out the units. It seemed weird that we didn’t need some authority figure to bless what we were doing. We

Westmoreland = sold

Remember 1239 N. Westmoreland? We put up for sale on the MLS on April 17 for $949,000. On May 19, just over a month later, we closed for $950,000. After selling costs, we netted $920,000 or so. We bought the property and renovated it in 2009 for a total investment of $680,000. During the time we

Follow Neal and Jodi’s Landlord Adventures

Jodi and Neal, friends who I helped buy a duplex in Echo Park a few months ago, are writing an awesome blog documenting their experiences as first time landlords: The most recent entry describes their first landlord emergency, involving a clogged pipe and a weekend call to the plumber. It’s a great reminder that

In defense of gentrification

We spent the last 3-4 years on the front lines of gentrification in East Hollywood, Silver Lake and Echo Park. We’ve paid around 65 tenants to move out of rent controlled apartments so that I could renovate and raise the rents. When I tell some people this, I can see from their facial expressions that

What real estate success looks like

So far on this blog, we’ve spent most of our time talking about buying your first building. But what does the end-game look like? One thing to understand about real estate is that there’s literally no limit to how big you can get. If you’re disciplined about saving money and re-investing, you can keep growing

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