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 … Continue reading “How to choose a broker to sell your property”
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Looking for a larger apartment deal?
I’m going to send a tasty one to the mailing list on Monday. It’s the kind of deal where you park $300k and get a very safe 12% return with the potential for a lot of upside. If this sounds like something you might be interested in learning more about (with me on board or … Continue reading “Looking for a larger apartment deal?”
Forgive me for venting
It’s really not that hard to update the MLS on the status of your listings. It takes about five seconds to tell them to switch your property from “active” (in other words, available for someone to buy) to “pending” (in other words, under contract to be sold). And yet a small but non-zero number of … Continue reading “Forgive me for venting”
Will I manage your property?
I get asked periodically by owners if my organization would manage their properties for them. Generally speaking, the answer is no. The reason is that our time is much better spent on our own projects, where we can reap the rewards of our very specialized skill-set. Hiring us to collect the rents on a stable … Continue reading “Will I manage your property?”
When a deal goes bad
If you make enough deals, eventually one goes sour. Here’s one that went sour on me… We were looking into developing some small-lot sub-division homes in Silver Lake. We found a lady selling a house on a properly-zoned piece of land. We contacted her next door neighbor, whose duplex wasn’t for sale, and convinced him … Continue reading “When a deal goes bad”
What happens if you refuse to remove contingencies
When you go into contract to buy a piece of property, you typically get a contingency period during which you have the right (and obligation!) to perform a thorough investigation of the condition of the property and title thereto. Usually, the stuff you’ll find is tolerable and you can negotiate a price reduction from the … Continue reading “What happens if you refuse to remove contingencies”
What’s a new landlord to do?
I got an email the other day from someone I’m helping buy an apartment building. We’re at the stage in the process where we’ve gone from the theoretical work of modeling out different acquisition opportunities to the practical work of getting her in a position to start actually leasing out units. Reality has set in: … Continue reading “What’s a new landlord to do?”
About last night…
…I woke up thinking about real estate again. All I can say is that I feel kind of bad for my (very patient) wife, Lucy, who found herself discussing an apartment deal when, by all rights, she should have been sleeping. As a percentage of the general population, the people who are intensely interested in … Continue reading “About last night…”
Multi-Family Millions: The book that started my career
If you’re interested in making money from re-positioning apartment buildings like we do, you should read Multi-Family Millions, by Dave Lindahl (that’s not an affiliate link; I don’t get paid if you buy it). A few warnings: The book is cheaply made. It feels like someone self-published it out of vanity. I recommend getting the … Continue reading “Multi-Family Millions: The book that started my career”
Did you miss out…
…on the fourplex deal I sent out to the mailing list today? It was a tasty one: A non-rent control fourplex where you put down $106k and get back $30k / year cash(!). In short, it’s homerun value-add deal. If you want to avoid missing these (infrequent) emails, get on the mailing list. If you … Continue reading “Did you miss out…”