Apparently, the problem of not having the rents buttoned up before listing is not confined to 4plexes in West LA. Just had the same problem on a much larger deal. Before helping my client offer on the property, I requested the rent roll from the listing broker. We reviewed the information he provided, inputted it … Continue reading “Why you get the rents buttoned up BEFORE you list (part 2)”
Author: Moses Kagan
Inspection Day and Closing Day
Busy day today, so I thought I’d keep it kind of brief and just give you a run-down of what I’m up to: 1. Am helping clients with inspections on a beautiful 1920s fourplex they’re thinking of buying Boyle Heights using an FHA loan. We’ve been at this one once before, but one of the … Continue reading “Inspection Day and Closing Day”
LA’s crazy Metro system
Want to see something really insane? Check out the location of the Gold Line Extension stop at Pico / Aliso (the little red “A” on the map below): Can you figure out why I hate the placement of this station? Here’s a hint: Look at the use of the land on the north side of … Continue reading “LA’s crazy Metro system”
Why do deposits need to be sourced?
Today’s question is quick: “Why do deposits need to be sourced?” I presume this question refers to the source of the downpayment for the purchase of a property. When you buy with a conventional loan (e.g. not an FHA loan), the bank lending you the money will very often want to know the source of … Continue reading “Why do deposits need to be sourced?”
How I got access to a property not on the MLS
A bunch of readers have asked variations of the same question about the Highland Park fourplexes I sent out two weeks ago: How is it that you can know a property is for sale without it being publicly available on the MLS? As anyone who follows real estate knows, almost all deals end up on … Continue reading “How I got access to a property not on the MLS”
Answering some questions
Time to start getting to some of the questions sent in by readers. I’ve lightly edited these, but they are from an actual reader (hey K A-M!): 1. Do you like LA particularly because of any demographic reasons (ie. local universities, business push, etc. ) or is its just important that you live in close … Continue reading “Answering some questions”
Maybe I’m insensitive, but…
…thank god the city’s finally doing something about the disgusting conditions on Skid Row. The LA Times had a good piece detailing the nearly 5 tons of filth removed from that neighborhood over the past few days. City workers removed “soiled mattresses, sofas, wheelchairs and portable commodes…[plus] 278 hypodermic needles, 94 syringes, 60 razor blades, … Continue reading “Maybe I’m insensitive, but…”
How to avoid having to day trade your retirement account
Yesterday’s LA Times had an interesting piece about boomers day-trading their retirement accounts in an attempt to beef-up their nest eggs in advance of retirement. Here’s the money quote: “”A lot more frequent trading is happening,” said Chad Carlson, a financial planner based outside of Chicago. “People are saying, ‘I’m that much closer to retirement … Continue reading “How to avoid having to day trade your retirement account”
Get on the mailing list
Hey, you there: The person who just hit this blog after a google search for “buy apartment building in LA”. Or the one who searched for “multi units to be profitable price per door” or “what do I need to buy a building”. If you’re serious about buying apartment buildings in LA, the right thing … Continue reading “Get on the mailing list”
Kind of disappointed
I’m kind of disappointed in some of my readers. Sorry, guys. When I put out the word that I had a pair of amazing fourplexes that would really work for FHA buyers, not a single first-time buyer stepped up. Instead, the clients I’m working with on those deals are the kind of experienced investors who … Continue reading “Kind of disappointed”