they know about kitchen renovation too LOL :The property value of 22757 Charlemont Pl in Woodland Hills, CA has increased significantly over the years.The key details on the property value changes are:In August 2016, the property was sold for $941,000, which translates to around $345 per square foot.In June 2024, the property was sold again for $1,857,500, about 97% higher than the 2016 sale price.The 2024 sale price of $1,857,500 for the 2,730 square foot home equates to approximately $680 per square foot.So in the span of around 8 years from 2016 to 2024, the property value nearly doubled, increasing from $941,000 to $1,857,500.

These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

Something is getting lost in translation.

In the book, he discusses pricing in a different state over 10 years ago so the # s won't translate to Long Island.Regarding working with contractors, the short answer would be to consider a 203K or homestyle renovation loan.

This insight allowed him to run a division of a corporation and he has translated that into Real Estate. 

Thank you for your reply.I have studied and drafted a few important clauses, which I asked the lawyer to translate into legal language, including must-have clauses for a California lease agreement.

Their use now still translates back to agents not necessarily in those firms as it is. 

And it directly translates too revenue. 

Translating passive real estate losses into active ones can be good for a while, but then you have the active gains on exit at the end.

That translates into The primary concern about picking housing is safety and amenities.