All Forum Posts by: David Friedman

I highly suggest finishing the projects you have one hand. As a serial home buyer myself, it can sometimes hurt to pass on a good deal, but there will always be more. In every market, up or down, you'll be able to find deals. Sometimes it makes sense to breath, tidy up what you have, and THEN move forward!

Thank you for the breakdown. Your feasibility analysis is very helpful to people like me trying to develop property.

Is it possible that It may be worth the construction if a bank is willing to loan to you based on the value of the existing units? Without having to put any of your own capital into the project, it may make sense.

The Shintani Group, Inc. in Los Angeles!

Rates have gone up in the past month so no promises.

You might be able to get a better introductory rate from a mortgage broker. You are just trying large banks. Eventually, all banks are going to want to get your rate up after you've used your LOC for a year. We were able to get an introductory rate of 3% in Los Angeles for a year. Then it goes up to around 5%.

I don't believe prop 10 will pass. Single family home owners are scared of prop 10 passing. Imagine if your city passed rent control on your single family house and you were stuck with a tenant for their lifetime? Even if there are rules for being able to move back into your rent controlled house, paying the tenant a large fee to move out is not desirable. That being said, if prop 10 did pass, maybe we will see an influx of new homeowners as people who own multiple single family homes could potentially want to exit the rental market. Most of the cities in Los Angeles that want rent control already have it (Santa Monica, West Hollywood, Los Angeles). I don't think many new cities will enforce rent control unless the area is extremely expensive.

Start with your inner spheres of influence and work your way out. People who already trust you and know you will be the easiest sell. If you and your investors profit from your real estate ventures, they'll tell their friends and eventually you'll be turning down money. One success leads to another, but investor trust has to be built up over time. No one lends 3-5 million to someone starting out. If they have that much money, they are most likely savvy enough to handle the deal themselves.

Hello, I am looking for a few different construction teams. We own a good amount of property in the North East Los Angeles area (Glassell Park, Eagle Rock, Highland Park, Echo Park, Silverlake, Mt. Washington) We are looking for contractors who can do light renovation and we are also looking for specialized contractors: Wrought Iron handrails, AC installers, Concrete, Landscaping and Landscaping Maintenance. Please reach out to me if you do any type of work in this area. If you know of anybody, please let me know.

Hello, I am looking for a few different construction teams. We own a good amount of property in the North East Los Angeles area (Glassell Park, Eagle Rock, Highland Park, Echo Park, Silverlake, Mt. Washington) We are looking for contractors who can do light renovation and we are also looking for specialized contractors: Wrought Iron handrails, AC installers, Concrete, Landscaping and Landscaping Maintenance. Please reach out to me if you do any type of work in this area.

Do you own the land already?

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