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Ethics for brokers

Being a good broker is about keeping two different, competing ideas in your head at the same time: I am in business and want to maximize the amount of money I make; and I want to do the best possible job for my clients. It’s amazing how difficult some brokers find it to balance these

1239 N. Westmoreland is for sale

We’re selling 1239 N. Westmoreland Ave. in East Hollywood in order to realize some profits for our investors. It’s a pretty great building: 5 units, 4 one bed, 1 two bed Totally rebuilt in 2009-10 with permits; no deferred maintenance Monthly rent is $7,980 For sale at $949,000 (9.9x grm) Here’s the listing on Loopnet: http://www.loopnet.com/lid/17621152

The right strategy for selling

There are two basic strategies for selling property: Price it high and wait; or Price it low and have a bidding war The second one is much, much better. To understand why, let’s take a look at both. 1. Price it high and wait The theory behind price is high and wait is that, eventually,

14 unit re-positioning deal

The 14 unit deal I mentioned late last week is going out to the mailing list around 5pm today. If you want to understand how the numbers work on a larger apartment project, this is a good one to take a look at. To join the mailing list, click here and follow instructions. Should take

How to choose a broker to sell your property

First things first. Don’t sell property if you can avoid it! But, if you must sell, use a broker. Choosing a broker and figuring out how to work with him* successfully is the most important part of any sale process. (*Note I’m using “he” and “him” here, but many of the best brokers are female. Just a

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