One of the things that bothers me about today’s real estate market is the relative scarcity of sellers willing to carry back mortgages. To understand why I think it’s weird, we first need to understand what seller carry back financing is. Simply put, seller carry back financing is when the seller of a property provides … Continue reading “Why more sellers should be carrying back”
Author: Moses Kagan
Our deal criteria
Have been reading Warren Buffett’s collected shareholder letters. Strongly recommend them to anyone interested in business / investing. One of the things that Buffett does in his letters is to set out his acquisition criteria. And, interestingly, as you read through the different years, you see that putting it in the letter works – he … Continue reading “Our deal criteria”
It’s not too late
I quit banking when I was 26 years old, convinced that I could do better by owning something, without exactly being clear on what that “something” was going to be. I messed around for a few years working on projects that did OK but ended up being dead-ends. By the time I really got started … Continue reading “It’s not too late”
Stalemate
If you take a look at the apartment market in our areas, you will see a stalemate between buyers and sellers that is keeping properties on the market for longer than sellers would probably prefer. (I know I’m getting sick of staring at the same properties day after day!) For 2-4 unit deals: Many sellers … Continue reading “Stalemate”
Interesting fourplex deal
One of my agents ran across an interesting deal in an improving neighborhood in NELA. It needs a bit of work, say, $30k, but would work as a great owner user or investor property. If you are an owner-user, you could potentially use an FHA loan on it, which would allow you to buy with … Continue reading “Interesting fourplex deal”
Remarkably cool map of 1909 Los Angeles
Hat tip to Adrian at Curbed for linking to this great illustrated map of 1909 Los Angeles. It’s amazing how pastoral everything west of Downtown was at that time. Silver Lake, for example, was pretty much farm land. I often think about those original settlers and builders who shaped Los Angeles. I bet many of them … Continue reading “Remarkably cool map of 1909 Los Angeles”
Why you separate buyer and seller
Here’s a lesson about brokering that they never teach you in real estate classes: Don’t let the buyer and seller speak to each other directly, if you can prevent it. Why? First, consider this law of human interaction: No one instinctively likes everyone he/she meets. It’s just a fact of life that we sometimes run across … Continue reading “Why you separate buyer and seller”
Helping investors navigate a changing market
Here’s how I see the market for apartment buildings now: There are very few deals that make sense on their own, as simple cashflow plays. It’s not that they don’t exist, it’s just that you need to hunt a lot harder for them than before. But there are plenty of value-add plays, if you’re willing/able … Continue reading “Helping investors navigate a changing market”
Time allocation
The single biggest problem that I have in business right now is figuring out how best to allocate my time. Everywhere around me, I see opportunity. Adaptive could grow its property management business. Or bring on a ton of agents and ramp up the brokerage. Or raise a new fund. Or try to bring in … Continue reading “Time allocation”
Why the diligence matters
Yesterday, the LA Times had an absolutely horrific story about a couple who bought a duplex and then got slammed by LADBS. Here’s the piece. How could this poor couple have avoided the pickle they’re in? 1. Foundation inspection. The retaining wall issue in the back would have been apparent to anyone who does a … Continue reading “Why the diligence matters”