Results for ‘Uncategorized’ category

Why Westlake Won’t Gentrify

Westlake won’t gentrify for three reasons: the housing stock, the density of apartments and rent control. Regarding the housing stock: Westlake is comprised mostly of apartment buildings built around 1920. Some 1920’s buildings are nice, with great lay-outs, beautiful details, and, in some case, parking. The buildings in MacArthur Park are not those kinds of

The Time I Tried to Give Mr. X $5,000 and He Refused

My voice was quivering when I made my final plea: “Please, Mr. X, just take the $5,000 and move out before the sheriff gets here.” The guy refused. He and his wife stayed right up until the sheriff arrived to lock him out of the apartment. I had to appreciate the pride he carried within

How to keep the IRS from stealing your sh*t

Bad news: The government wants to take 50% of the profits from your building. Good news: Some nice legislator long, long ago stuffed the concept of depreciation into the tax code, keeping the tax man from succeeding. What’s “depreciation”? It’s a fake loss that allows you to use to reduce the amount of income you’re

From the Offer through Removing Contingencies

The advent of services like Redfin and Zillow have made everyone into a real estate genius. You can see what’s for sale, what’s sold, the comps, everything. Don’t let that make you think you know what you’re doing. You don’t. Buying real estate is really complicated. To get that wonderful property you see on Redfin,

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