We have a buyer inspecting one of the properties from Fund 1 today, so I thought this would be a good opportunity to discuss how you ought to behave when you, as a seller, attend a buyer’s inspection of your property. Here are the key things to keep in mind: Be honest. You never, ever … Continue reading “Inspection day (again)”
Author: Moses Kagan
Getting close on Bellevue
We’re getting closer and closer to finishing the 4plex at 3210 Bellevue that we bought last July. It’s an interesting deal, in that we got smaller units than we did at, for example, 1012 N. Virgil, (825 sq ft instead of 950), but a lot of land (10k+ sq ft). I like these little bungalow … Continue reading “Getting close on Bellevue”
Sorry
For the slow posting. We’re enmeshed in several deals right now and I can’t really share any of the details on the blog. More next week; for now, enjoy the weekend!
Are you…
Are you… Honest (this is 100% non-negotiable; you have to be able to put other peoples’ interests above your own) Smart (book- and street-) Personable Energetic Did you launch into a creative career after college and then find yourself with less cash than you wanted / needed as you entered your mid- to late-20’s? We … Continue reading “Are you…”
How NIMBYism is killing Hollywood
If you’re interested in city land use politics, you’re probably aware of the huge fight over the re-zoning of Hollywood that’s been going on since the new Hollywood Community Plan was enacted in 2012. (If this is the first you’re hearing of it, check this out.) In a nutshell, the Hollywood Community Plan is intended … Continue reading “How NIMBYism is killing Hollywood”
Parking parking parking
Anyone who spends any time looking at development projects in LA knows that parking is the key to everything. Because of LA’s roots/identity as a series of connected suburbs, we have a zoning code which requires a ton of parking for all uses. For example, if you build a two bedroom apartment, you need to … Continue reading “Parking parking parking”
Surprisingly, there are still deals worth doing
Right now, our agents have three deals in escrow for various clients. Generally speaking, these are deals in emerging neighborhoods where the in-place cashflow is reasonable and there are good reasons to think that rents can be increased dramatically over the coming years. It is not easy to find these kinds of deals, but they … Continue reading “Surprisingly, there are still deals worth doing”
When the previous buyer backed out
We get this a lot: We help a client write on a building. Someone else wins the auction and goes into escrow. The winner cancels during his contingency period. The listing agent comes back to us, offering to go into escrow on the terms we offered previously. Very often, our client gets cold feet at … Continue reading “When the previous buyer backed out”
How to value a vacant building
A friend of mine from college called me late last week with an interesting problem: He wanted to know how to value a vacant building he was considering buying. There are two good ways to think about this problem: The first might be thought of as “price per pound“, where we are looking at the … Continue reading “How to value a vacant building”
How to misallocate societal resources
1. Perpetuate outdated notions about the desirability of single family homes; 2. Impose incredibly restrictive zoning in areas close to jobs, ensuring that homes there will remain very expensive; 3. Provide large, implicit subsidies to drivers, specifically by failing to price-in the societal cost of greenhouse gas emissions; 4. Under-invest in mass transit; 5. Allow exurban … Continue reading “How to misallocate societal resources”