Moses Kagan on Real Estate - Latest Comments

Re: Just sent out a fourplex deal

Chris F. — Wed, 27 Mar 2013 23:49:32 -0000

I thought I was on the mailing list...

Re: How much cash do you need to buy your first apartment building?

Danielle Russell — Sat, 23 Mar 2013 14:56:27 -0000

please let me know if you see a good investment. i have been looking in the downtown and echo park areas of los angeles for sfr or multiple units. my name is danielle and you can reach me at 760-685-0816. i live in north san diego county.

Re: Here’s a bad selling strategy

David Brundige — Thu, 21 Mar 2013 15:29:07 -0000

Yeah, and the rents aren't even that good for 3-br 2-ba units in that area.

Re: Don’t buy apartment buildings if…

Jason Mak — Thu, 07 Mar 2013 16:22:22 -0000

nice post Moses - in regards to #1 (confrontation) - I think this is true, but confrontation doesn't have to be depicted as a completely negative experience. In my experience, if you are clear, prepared, organized, and (somewhat) reasonable, confrontations don't need to turn out nasty.

I always try to enter a confrontation/negotiation with a clear gameplan, thoughtout conversation (what I'm going to say), and BATNA. Maybe some people are quicker thinkers and can do it on the fly, unfortunately, that's not me. It's takes practice but I no longer cringe when I have to confront a tenant.

What do you think?

Re: Bad miss

scottgrossman — Thu, 07 Mar 2013 12:29:25 -0000

Moses, What's your preferred method of getting starting finding deals? Engage brokers or peruse the MLS? How many areas do you focus on? Any advice would help.

thanks,
scott

Re: Done and done

Larry Robinson — Wed, 06 Mar 2013 12:48:54 -0000

incredible job. the before/after pics are stunning. congrats. wow!

Re: Done and done

Jodi — Mon, 04 Mar 2013 15:35:45 -0000

Hurrah! the 'hood keeps getting better and better!

Re: Everyone is stealing

Matt — Thu, 21 Feb 2013 17:08:52 -0000

That is too bad. On a good note, from someone who lived in LA in the mid 90's, I can tell you crime is much less of an issue than it used to be. Back then, everyone was more concerned getting mugged or even worse. Parts of the city I would barely go into during the day I have no problem going to at night now. This has really been a boon for Central Los Angeles and its surrounding neigborhoods.

Re: Everyone is stealing

Mel — Thu, 21 Feb 2013 10:07:56 -0000

I agree. My husband's dialysis unit in Scottsdale,AZ had some exterior copper piping stolen from it yesterday... this caused the unit to delay opening for 8 hours and they had to scramble to line up alternate dialysis sites for the patients!

Re: Growing the team

Larry Robinson — Tue, 19 Feb 2013 13:05:53 -0000

Bana ROCKS!

Re: Lessons from the bust

Larry Robinson — Sun, 17 Feb 2013 10:53:59 -0000

great post. especially like the advice: "Buy when no one else is buying"

Re: Lessons from the bust

Moses Kagan — Tue, 12 Feb 2013 15:14:48 -0000

We've already bought 3 more properties and are actively looking for more. We don't mess around!

Re: Lessons from the bust

Scott — Tue, 12 Feb 2013 12:36:05 -0000

what are you going to do now? You sold the whole portfolio! What's your strategy for 2013?

Re: Lessons from the bust

cy — Tue, 12 Feb 2013 10:44:17 -0000

Great post!! Thanks for sharing your experience.

Re: How to get more affordable apartments in LA

Moses Kagan — Thu, 07 Feb 2013 12:56:19 -0000

I hadn't seen the article. Just took a look and it's right on. When conversion costs are $100-150 / sq ft, you basically ought to just build from scratch.

Re: How to get more affordable apartments in LA

Chris F. — Thu, 07 Feb 2013 12:49:17 -0000

Did you see the article in last week or last month's downtown news about the flaws with adaptive? Curious to get your take.

Re: The culture I’m trying to create

Moses Kagan — Mon, 28 Jan 2013 13:49:03 -0000

Thanks, Jason and David.

It's tough to get people to think like owners, but that's literally what you're supposed to do in the property management business. That extends both to collecting the rents and keeping expenses low, but also to preserving and enhancing the value of the asset for the long term. It's definitely a judgment business. My theory is that I can teach someone / some people to think about buildings the way I do. But we will see!

Re: The culture I’m trying to create

Jasonmak — Mon, 28 Jan 2013 13:32:47 -0000

nice blog Moses. I can't agree with you more. On the property management side, sometimes managers forget that managing an apartment is running a business! Customer service, sales, value-add projects, capital investments, cultivating relationships, are things that get overlooked. Looking forward to reading about how you building your company in the future.

Re: The culture I’m trying to create

David Brundige — Mon, 28 Jan 2013 12:16:28 -0000

Send this blog article as a memo?

Re: Sacramento learning

Chris F. — Wed, 23 Jan 2013 23:33:06 -0000

So are you buying?

Re: Going to Sacramento

Matt — Tue, 22 Jan 2013 19:55:30 -0000

I am starting to look at the Central Valley as well. I think you don't need to be as design oriented up there as people are more into functionality. At the same time they might not appreciate some old time elements that are in some LA apartments, but are more impressed by newer. Will be interested to hear what you find out in your visit.

Re: How to value an apartment building

Lil — Sat, 19 Jan 2013 10:51:35 -0000

Excellent read ... thank you for explaining things in layman's terms.
Hope you add more to your blog soon.

Re: Shoot first and ask questions later

SMH — Thu, 17 Jan 2013 13:12:15 -0000

I hate to see that the industry is becoming the wild wild west. It makes it difficult to be smart moving forward like this. I am sure we will see an impact by Spring with inflated values.

Re: Non contingent offers

Larry Robinson — Tue, 15 Jan 2013 10:54:01 -0000

I'm with you. pass.

Re: FHA loan limits

David Brundige — Mon, 14 Jan 2013 15:53:36 -0000

I thought it was 3.5%. Why 5%?