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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:

The Best Money I’ve Ever Spent

Out of the $500,000 we spent rehabbing my latest apartment building (here are some pics), the most important thing we bought cost $300.  What was it? Advice. We called in a great designer to pick colors for us. It took her 20 minutes of going through paint samples until she hit on the perfect combination

Median Silver Lake 2 Bed-Apartment Blows Past $2,100 / Month

Renters and Landlords know that the Silver Lake rental market is hot… but they might not know how hot.   The median asking rent for a 2 bedroom, 1 bath apartment in Silver Lake in January was $2,195 per month.   Other interesting conclusions from the survey: Would you pay $250 per month for a

Income Property Teardown: 822 Sanborn in Silver Lake

Welcome to the “Teardown”, a series where I’ll take apart an income property listing and analyze it for the whole world to see. As always, all figures are estimates which you should not rely upon. Today’s subject is 822 Sanborn, Los Angeles, CA, 90029, listed by Keith Cox of Keller Williams, Beverly Hills. Here’s a

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