One of the weird things about our business is how different it looks to Jon and me. On my end, most deals are almost abstract. I can tell from the location, the building, the existing rents, and the price whether we can make money and how much. For me, then, it’s mostly about passively looking … Continue reading “The two sides of our business”
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Why we’re different buyers
Had an inspection today of a property we may renovate. The broker was reassuring me that the owner had partially re-piped the building with copper. Unlike almost any other buyer, this does not matter at all to us. Why? Because we almost always repipe during our renovations (and do everything else). In fact, very little … Continue reading “Why we’re different buyers”
Some before and after pics of our latest project
Just finished a fourplex on in Silver Lake for a fee for service client. Here are some before and after pics for your viewing enjoyment: Kitchen / Living Bathroom Exterior Parking area
Some good news for Boyle Heights
Today is a very, very good day for Boyle Heights. The Exide battery recycling plant, the one that has been poisoning the air and ground in BH for decades, is shutting down. The company made a deal with the US attorney to close in exchange for the feds not pressing criminal charges for illegal dumping / … Continue reading “Some good news for Boyle Heights”
Real estate versus tech as a career
Had dinner with a friend last night who is in the process of gracefully winding down his start-up. Found myself vividly recalling how I felt when I realized that CAZT, the tech company I started with my brother, was never going to be large enough to be my career and that I would have to … Continue reading “Real estate versus tech as a career”
Should I buy this Airbnb apartment building?
Sorry for the lack of posts Friday and yesterday; have been swamped with work, blah blah blah. Anyway: Have been getting a lot of questions about a for-sale triplex which is described by the listing broker as an “Airbnb ‘cash cow’ in the heart of Silver Lake.” (I’m not linking to the listing, because I … Continue reading “Should I buy this Airbnb apartment building?”
Brooklyn to the Eastside
Was speaking with an applicant for my as-of-yet-unfilled assistant position yesterday and heard an interesting theory. Her argument was that many of the creative types who have been living in Brooklyn over the past 5-10 years are moving to LA. Ordinarily, I would ignore this kind of observation… after all, it’s not exactly backed by … Continue reading “Brooklyn to the Eastside”
Some thoughts on management
Here’s some advice for egomaniacal managers like me: Shut up and listen sometimes. Every day, people come into my office asking for help solving complex problems. The problems are by definition complex, because if they were simple, no one would bother me with them. For a long time, I would listen to the problem, think for a second, … Continue reading “Some thoughts on management”
Buildings we will manage and buildings we won’t
Have recently found myself explaining my take on our property management business to several people and figured I’d put it up here for general consumption. Lots of people ask us to manage their buildings and we generally decline. Why? In LA, there are basically two kinds of buildings: 1. Ones that have been renovated somewhat … Continue reading “Buildings we will manage and buildings we won’t”
Why we avoid pre-1920s buildings
I love buildings built in the 1920s, but I rarely buy buildings built before that. Why? It has to do with how the buildings were built. By the 1920s, Los Angeles construction practices were not that different from today’s. Layouts, door width, ceiling height, spacing between studs, size of lumber used – all are quite similar to … Continue reading “Why we avoid pre-1920s buildings”