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How bad credit restricts opportunity

A word of warning: This piece is going to sound patronizing or overly earnest, depending on what you think of me. Just know the sentiment is genuine. Here goes: Whenever we negotiate a tenant relocation, where we pay the tenant an agreed amount in exchange for the tenant leaving the building, I make it my

Today we are…

1. Negotiating and hopefully signing a purchase agreement addendum for a client. 2. Putting in a counter to a counter on a big building. 3. Trying to buy out three tenants. 4. Writing an offer for a client on a medium sized building. 5. Touring two development sites.

Real estate speculators wouldn’t let me sleep last night

Los Angeles was developed as a giant real estate speculation by speculators looking to lure mid-Westerners out here for the weather. The great thing about the business model was that, because the weather is so mild, they could build houses pretty cheaply (out of wood and stucco, instead of brick and steel). The developers didn’t

A late post today

Busiest day in a long time. Most important news is that Jon and I removed contingencies on the first deal for our new fund. We’re super-excited about this one. But it’s a bit like the excitement that a climber must feel when peering up at the summit of Everest from base camp. In other words:

My policy on meetings

I take them. With anyone who asks. Why? First, there’s a bit of altruism at work. I’ve made a ton of mistakes in this business and I am happy to share my experiences with people so they don’t make them, too. Second, I genuinely like talking to people about real estate (and lots of other

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