[Note: I wrote the email below to the Silver Lake neighborhood council, which is debating whether to support the gang injunction proposed for parts of Silver Lake and Echo Park.] To whom it may concern: I write to set out some experiences I’ve had in renovating an apartment complex on Silver Lake Blvd in hopes that they … Continue reading “My letter about a shooting”
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Thoughts about rent control
A lot of people think I hate rent control. Not true. My feelings are conflicted: 1. I think society ought to do something to help the poorest among us afford decent housing; 2. The way LA does rent control is suboptimal, because: (1) it’s not means tested, so many beneficiaries are not particularly poor and … Continue reading “Thoughts about rent control”
Some pics of three of our projects
Thought you might like to see what 1920s buildings look like when you rip them open. When I say we gut our projects, I mean it.
A good apartment deal
This site is 99.9% for owners. But, because I’m always looking at rents in different neighborhoods, I sometimes come across very good rental deals. The one I’ve linked to below isn’t one of our buildings (otherwise, the rent would be higher!). It’s a huge apartment, with loads of parking, W/D, etc. in a fourplex in … Continue reading “A good apartment deal”
Lessons from the bust
We finished selling the Better Dwellings portfolio in December. I have been dealing with getting all of the cash out to the investors, closing the entities, providing a final accounting, etc. This has, of course, occasioned some thinking about our strategy during 2008-2010, when the world was falling apart. Here are some of the lessons … Continue reading “Lessons from the bust”
Why culture matters to us
While I’ve never personally lost money on a deal (knock wood), most people in our business have, and I’m sure it will happen to me, too. When that day happens, I imagine that my investors are going to have two questions: Did you do a thorough job investigating / underwriting the deal? During the whole … Continue reading “Why culture matters to us”
We’re hiring
We’re growing and looking to find great people for two new positions within our organization. If you recommend someone and we end up hiring her / him, I’ll pay you $250 or donate $500 to the charity of your choice. Property manager: Help us manage a portfolio of approximately 100 units in the Silver Lake … Continue reading “We’re hiring”
New posts coming soon
Have been traveling the past week and have been lax about writing. Am going to do a big post on what we accomplished in 2012 and then one setting out some high level goals for 2013. Meanwhile, hope you had a wonderful holiday and best wishes for success in the New Year.
How some real estate laws explain the shootings in Echo Park
I’ve written before about how Prop 13 and rent control both slow down development. Here’s a real life example: The shootings this weekend in Echo Park, one on Mohawk and the other on Echo Park Ave. Echo Park has come a long way from its past as a real hub of gang violence in the … Continue reading “How some real estate laws explain the shootings in Echo Park”
Even more on dumb brokers
Regular readers know that I don’t necessarily hold my own profession in the highest regard. Yes, there are plenty of great people brokering real estate deals. But there are also tons of mo-mos. And, when I see a mo-mo move repeated over and over again, I get frustrated enough to write a post. So here … Continue reading “Even more on dumb brokers”