I’ve written before about how Prop 13 and rent control both slow down development. Here’s a real life example: The shootings this weekend in Echo Park, one on Mohawk and the other on Echo Park Ave. Echo Park has come a long way from its past as a real hub of gang violence in the … Continue reading “How some real estate laws explain the shootings in Echo Park”
Category: Uncategorized
Even more on dumb brokers
Regular readers know that I don’t necessarily hold my own profession in the highest regard. Yes, there are plenty of great people brokering real estate deals. But there are also tons of mo-mos. And, when I see a mo-mo move repeated over and over again, I get frustrated enough to write a post. So here … Continue reading “Even more on dumb brokers”
Anyone know a Chinese speaking lawyer in LA?
Am looking for a lawyer who is also a native Chinese speaker to help me with a tenant negotiation in Los Angeles. We’re probably talking about 3-6 hours worth of work total and I’d be willing to throw in a bonus for success. If you know of anyone who might fit the bill, please shoot … Continue reading “Anyone know a Chinese speaking lawyer in LA?”
West Hollywood Rent Survey – November 2012
This week, we’re looking at rents in West Hollywood. Keep in mind that West Hollywood is its own city, separate from Los Angeles and with its own rent-control law. Also, West Hollywood has historically had a fairly progressive view on development, meaning that the city is dense and there are lots of apartments. All of … Continue reading “West Hollywood Rent Survey – November 2012”
Closed deal #2 for the new fund today
We just bought another 4plex today, this one in Silver Lake, walking distance to Sunset Junction. Second deal for the new fund (first was also a 4plex, that one in Echo Park) Super excited.
If you’re reading this on 11/6/2012, you’re doing the wrong thing
Nothing you will do today is as important as exercising the sacred franchise. Google “find polling place”, enter your address, and get over there and get it done. Believe me, I’ll talk / write about real estate until the cows come home. But that’s for any other day. Today: Go vote.
How bad credit restricts opportunity
A word of warning: This piece is going to sound patronizing or overly earnest, depending on what you think of me. Just know the sentiment is genuine. Here goes: Whenever we negotiate a tenant relocation, where we pay the tenant an agreed amount in exchange for the tenant leaving the building, I make it my … Continue reading “How bad credit restricts opportunity”
Today we are…
1. Negotiating and hopefully signing a purchase agreement addendum for a client. 2. Putting in a counter to a counter on a big building. 3. Trying to buy out three tenants. 4. Writing an offer for a client on a medium sized building. 5. Touring two development sites.
Real estate speculators wouldn’t let me sleep last night
Los Angeles was developed as a giant real estate speculation by speculators looking to lure mid-Westerners out here for the weather. The great thing about the business model was that, because the weather is so mild, they could build houses pretty cheaply (out of wood and stucco, instead of brick and steel). The developers didn’t … Continue reading “Real estate speculators wouldn’t let me sleep last night”
A late post today
Busiest day in a long time. Most important news is that Jon and I removed contingencies on the first deal for our new fund. We’re super-excited about this one. But it’s a bit like the excitement that a climber must feel when peering up at the summit of Everest from base camp. In other words: … Continue reading “A late post today”