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Forgive me for venting

It’s really not that hard to update the MLS on the status of your listings. It takes about five seconds to tell them to switch your property from “active” (in other words, available for someone to buy) to “pending” (in other words, under contract to be sold). And yet a small but non-zero number of

Will I manage your property?

I get asked periodically by owners if my organization would manage their properties for them. Generally speaking, the answer is no. The reason is that our time is much better spent on our own projects, where we can reap the rewards of our very specialized skill-set. Hiring us to collect the rents on a stable

When a deal goes bad

If you make enough deals, eventually one goes sour. Here’s one that went sour on me… We were looking into developing some small-lot sub-division homes in Silver Lake. We found a lady selling a house on a properly-zoned ¬†piece of land. We contacted her next door neighbor, whose duplex wasn’t for sale, and convinced him

What happens if you refuse to remove contingencies

When you go into contract to buy a piece of property, you typically get a contingency period during which you have the right (and obligation!) to perform a thorough investigation of the condition of the property and title thereto. Usually, the stuff you’ll find is tolerable and you can negotiate a price reduction from the

What’s a new landlord to do?

I got an email the other day from someone I’m helping buy an apartment building. We’re at the stage in the process where we’ve gone from the theoretical work of modeling out different acquisition opportunities to the practical work of getting her in a position to start actually leasing out units. Reality has set in:

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