All Forum Posts by: Anthony E Russell

Forget the big banks - waste of time. Reach out to L.A.-based Parkview Financial, which is owned by Paul Rahamian and his dad. They're former developers who specialize in funding ground up construction. I believe they operate in four or five states, now. I receive no referral fees, by the way. I know them by reputation.

Also, I live in Culver City, CA and former auto shops in my area have been successfully re-developed into "creative" office space for production companies, architectural firms, ad agencies, etc.

All the best with your endeavors.

Anthony

1 Vote

Am I Being Too Subtle by Sam Zell

The Peebles Principles by R. Donahue Peebles

Powerhouse Principles by Jorge Perez

Any book by the late George Bockl

0 Votes

@Allan Glass,

Thank you!

0 Votes

@Allan Glass,

How are you comping the units with regard to exit value? Do you use single family comps? Townhouse/Condo comps? A hybrid model?

I'm crunching numbers on a potential 4 unit site near Hancock Park - a wealthy Los Angeles submarket for all you non-locals - and would be interested to get your insights.

Thank you.

Anthony

PS - Revisiting your podcast this evening. Great stuff!

0 Votes

Originally posted by @Douglas Dowell:

Do you have a series 7 license?

Why would he need a stock trading license to do a real estate deal? Just curious.

0 Votes

Does anyone need a partner to split room costs? If so, I'd love to speak with you. You can reach me at the email address below. My technical skills are lacking insofar as profile pics are concerned.

If you need a visual of me check this link:

http://www.imdb.com/name/nm0751470/

Thanks! See you at the conference.

Anthony

0 Votes

Originally posted by RobTheHouseGuy1:

Hi Chenelle,
You can absolutely pull it off. You need to stick with the smaller buildings. I have a prospect to call tomorrow that has a 4 unit building with only one unit rented. the payment is around 1700 per month. I can get it no money down, but the cash flow is not gonna really be there. It will only bring in 2400 per month on a perfect day before vacancy an repairs. You will get your best deal working with a cash partner and stealing good deals.
An example I saw of that a couple of weeks ago, my buddy bought a 29 suite for 25k! Sure it needs a little love, but it was a steal!!!
There are a lot of "tired" landlords of mid size buildings that will let you take them over.
Just remember, bad deals are like HERPES, easy to get, and impossible to get rid of! LOL! Good luck! :mrgreen:

Rob,

How do you define "mid-size"?

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Originally posted by Mike Jakobczak:

Awesome discussion, mine would have to be silence is golden rule with a long hmmm...before it.

Works even better on the phone, people tend to cave so fast on the phone, since we are so use talking back and forth on the phone. 5 seconds on the phone seems like forever.

I'm in complete agreement with Mike. Silence. Especially, face to face. It makes folk uncomfortable and concessions/adjustments start rolling off the tongue like water from a duck's back.

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Originally posted by Bryan Hancock:

This doesn't seem like something a good old-fashioned a$$ kicking wouldn't solve....I could see Williamson County landlords or even some of the police doing that in my neck of the woods ;-)

Bryan,

Now you're speaking my language. This guy needs a visit from A$$ Kicking Central!

Unfortunately, NJ is dealing with an extremely bright, albeit cunning foe. He understands the law and uses it for his purposes. However, that does not make his actions morally defensible.

He needs to go.

2 Votes

All Forum Posts by: Anthony E Russell

Anthony E Russell has started 12 posts and replied 120 times.

Post: Hard money referral for multifamily value-add deal in Nor Cal?

Post: How to determine the new construction cost for a small building

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Post: Small Lot Subdivisions / Los Angeles

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Post: The "Professional Tenant" from Hell: BEWARE ALL LANDLORDS!