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Is Silver Lake Twice as Cool as Highland Park?

It might be, because it costs twice as much to rent a two bedroom apartment in Silver Lake. A 2 bed / 1 bath apartment goes for $1,100 in Highland Park, which is nearly 2x the $2,195 it costs in Silver Lake. We’ve just completed our February Rent Survey for Highland Park. We looked at

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

Don’t walk into a rent control trap

Here’s a dangerous trap set for an unsuspecting buyer of an apartment building by a broker: “Live in one unit and have additional income or use this 2800 s.f. structure as a single family residence.” Let’s say you want to choose the later option. Can you? Absolutely not. At least, not without paying between $20,000-40,000

Imagine Your Building Burned to the Ground

When I look at a new building to buy, I almost always start by imagining it burned to the ground. Am I some kind of psycho? No, I’m not (at, least, not that I know of). I imagine my building in ruins because it helps me focus on the most important aspect of any property:

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