I’ve been writing this blog for around three months now, give or take. And I just want to take the time today to say “thank you” to all of you. I have met amazing people here: first timers, seriously experienced investors, flippers, money guys, brokers, you name it. Without giving away names, I can tell
What does “grandfathered zoning” mean with respect to apartment buildings? To understand that, you first need to understand that zoning in Los Angeles has generally become stricter over time. For a long time, there wasn’t any zoning. You could just buy a few single family homes, rip them down, and put up an apartment building.
Rarely do you come across an apartment building in Los Angeles that’s in truly mint condition. Everything’s got a few dings on it; that’s just part of buying older buildings. For those normal, everyday buildings, you figure out a range for the multiples of annual rent in the neighborhood, multiply the annual rents times the
Quick question for you regular readers based here in Los Angeles: Would you be interested in taking a guided tour of some of our projects? In my mind, I’m envisioning looking at 1-3 of our projects in detail. We would discuss: The forecast that led us to buy the property The cost of relocating the
I often joke on this blog that you should never sell apartment buildings. The main reason is that the transaction costs of selling real estate are high (brokerage commission, transfer tax, etc.). Also, in CA, there’s a major benefit to holding on as your rents increase, because your NOI margin increases (see here for more