Per the LA Times (and via Curbed): Landlord and tenant groups in LA are uniting around an initiative to allow landlords to legalize non-conforming apartments more easily. Right now, if the Housing Department catches a landlord with an illegal apartment, here’s what happens: LAHD cites landlord for un-permitted unit, orders her to either get it permitted … Continue reading “Amnesty for illegals (apartments, that is)”
Author: Moses Kagan
Turning Californian
When I first moved out here, I had literally zero patience for all the trippy New-Agey bullshit floating around out here. Everyone seemed to be on some new cleanse, to visit astrologers, to ascribe powers to crystals, to meditate, etc. As someone who prides himself on being hyper-rational, I was not impressed. But something has … Continue reading “Turning Californian”
What’s wrong with this picture?
I usually avoid giving design advice on this blog, mostly because my partner Jon is the design expert at Adaptive. I mostly do the numbers. That said, I thought I’d draw your attention today to a classic error that landlords make when renovating apartments. Look at this picture: Can you see what’s wrong? The owner … Continue reading “What’s wrong with this picture?”
Off with the security bars
How can you tell that Silver Lake and Echo Park weren’t always so nice? The window bars. Back in the 1980s and 1990s, both neighborhoods had plenty of shootings, burglaries, etc. People naturally responded by “up-armoring” their homes with strong doors, fences and window bars. Now, both neighborhoods are very safe. It’s not that there’s no … Continue reading “Off with the security bars”
Interesting piece on the history of LA zoning
I recognize that my continued harping on our antiquated zoning code is not the fastest way to build readership (to put it mildly). However, I am not going to stop writing about it, because zoning shapes LA in ways of which most people are not at all aware. In any case, today I want to draw … Continue reading “Interesting piece on the history of LA zoning”
An email filter I’d like
Can someone please figure out how I can block solicitations from brokers who want to sell me “turn-key” assets? “Turn-key” is broker-speak for “No value left to add”. Don’t misunderstand: There is a large group of investors for whom turn-key deals make a ton of sense, including everyone who has bought deals from me over the … Continue reading “An email filter I’d like”
Seeing the matrix
Do you remember The Matrix, the amazing 1990s sci-fi flick with Keanu Reeves? In it, Keanu’s character learns to see the numbers behind the invented reality he inhabits. Why am I talking about this on a real estate blog? Because it occurred to me this morning as I was taking out the trash from our office that … Continue reading “Seeing the matrix”
History repeating?
Back in the 1980s, Japanese companies flush with cash acquired a ton of office buildings (and maybe hotels, too?) in LA at very high prices. In the recession of the early-to-mid-1990s, they got their asses handed to them. Now, there is a wave of Chinese developers flush with cash buying up office buildings, hotels, and … Continue reading “History repeating?”
The math behind discovering a new neighborhood
As prices continue to rise for the kind of beat-up, badly managed assets that are our bread-and-butter, we are spending more time looking at new neighborhoods. Am I going to tell you which ones I’m focusing on? No, because a bunch of people who compete with me read this blog. But I will share with … Continue reading “The math behind discovering a new neighborhood”
An effective wealth building strategy
One couple, two incomes. Live on one, save the other. Buy first 4plex FHA. Live in one unit, accelerating savings. Accumulate downpayment for building #2. Buy building #2 with 25% down. Resist temptation to increase spending; saving accelerates due to income from building #2. Buy building #3. Rinse. Repeat. Assuming we’re talking about 4plexes that … Continue reading “An effective wealth building strategy”