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
The LA Fair Housing Coalition, a group that fights for landlords, has arranged a meeting for members with officials from the LA Housing Department’s REAP and code enforcement offices and the Eberly Company, which was recently hired as a landlord outreach contractor by the city. The idea is to give landlords a chance to explain
Am going to blast out a tasty small apartment flip deal at around 2pm PST today to the mailing list. I’m intimately familiar with the deal and I think it’s a winner for someone who can bring $500k in cash to cover acquisition and renovation. The upside is $60-125k in profits within six months or