We basically do the same deal over and over again. We find some screwed-up building in an improving neighborhood, we figure out how to renovate it, and then we lease and manage it. Because the deals are so similar, it’s easy to start to get bored. After all, smart people generally appreciate novelty, learning, etc. … Continue reading “Keep chopping wood”
Category: Building Adaptive
A little taster from the front lines of LA’s parking wars
If you’re wondering why we have a shortage of housing in Los Angeles, I’m here to shed a little light. We recently bought a duplex with the plan of adding a second story and two more units. This is exactly the type of deal the city should love: We’re adding additional housing to a neighborhood … Continue reading “A little taster from the front lines of LA’s parking wars”
A post about habits
When I was getting started, I read every real estate book I could get my hands on. Most of them were pretty dumb. A few were helpful. One, the name of which escapes me, contained some advice which I found really odd at the time. There was an entire chapter devoted to the importance of regular … Continue reading “A post about habits”
The two sides of our business
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”
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
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”
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”