Cesar Gonzalez

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Cesar Gonzalez

Cesar Gonzalez

@CesarRealEstate

CRE Broker with Equity Union Commercial. Work w private capital and institutional owners/developers of retail, office and industrial properties.

Los Angeles, CA Katılım Haziran 2009
1.4K Takip Edilen281 Takipçiler
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Mr PitBull
Mr PitBull@MrPitbull07·
"My name's Raymond. I'm 73. I work the parking lot at St. Joseph's Hospital. Minimum wage, orange vest, a whistle I barely use. Most people don't even look at me. I'm just the old man waving cars into spaces. But I see everything. Like the black sedan that circled the lot every morning at 6 a.m. for three weeks. Young man driving, grandmother in the passenger seat. Chemotherapy, I figured. He'd drop her at the entrance, then spend 20 minutes hunting for parking, missing her appointments. One morning, I stopped him. "What time tomorrow?" "6:15," he said, confused. "Space A-7 will be empty. I'll save it." He blinked. "You... you can do that?" "I can now," I said. Next morning, I stood in A-7, holding my ground as cars circled angrily. When his sedan pulled up, I moved. He rolled down his window, speechless. "Why?" "Because she needs you in there with her," I said. "Not out here stressing." He cried. Right there in the parking lot. Word spread quietly. A father with a sick baby asked if I could help. A woman visiting her dying husband. I started arriving at 5 a.m., notebook in hand, tracking who needed what. Saved spots became sacred. People stopped honking. They waited. Because they knew someone else was fighting something bigger than traffic. But here's what changed everything, A businessman in a Mercedes screamed at me one morning. "I'm not sick! I need that spot for a meeting!" "Then walk," I said calmly. "That space is for someone whose hands are shaking too hard to grip a steering wheel." He sped off, furious. But a woman behind him got out of her car and hugged me. "My son has leukemia," she sobbed. "Thank you for seeing us." The hospital tried to stop me. "Liability issues," they said. But then families started writing letters. Dozens. "Raymond made the worst days bearable." "He gave us one less thing to break over." Last month, they made it official. "Reserved Parking for Families in Crisis." Ten spots, marked with blue signs. And they asked me to manage it. But the best part? A man I'd helped two years ago, his mother survived, came back. He's a carpenter. Built a small wooden box, mounted it by the reserved spaces. Inside? Prayer cards, tissues, breath mints, and a note, "Take what you need. You're not alone. -Raymond & Friends" People leave things now. Granola bars. Phone chargers. Yesterday, someone left a hand-knitted blanket. I'm 73. I direct traffic in a hospital parking lot. But I've learned this: Healing doesn't just happen in operating rooms. Sometimes it starts in a parking space. When someone says, "I see your crisis. Let me carry this one small piece." So pay attention. At the grocery checkout, the coffee line, wherever you are. Someone's drowning in the little things while fighting the big ones. Hold a door. Save a spot. Carry the weight no one else sees. It's not glamorous. But it's everything." Let this story reach more hearts.... Credit: Mary Nelson
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Erik Scott
Erik Scott@PIOErikScott·
Today, January 9, 2025, at approximately 1:00 p.m., while flying in the #PalisadesFire area, #SuperScooper Quebec 1 was struck by a civilian drone that was not assigned to the Palisades fire. Quebec 1 sustained wing damage and remains grounded and out of service. There were no reported injuries. The incident is under investigation by the #FAA. We would like to remind everyone that flying a drone in the midst of firefighting efforts is a federal crime and punishable by up to 12 months in prison or a fine of up to $75,000.
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MLB Network
MLB Network@MLBNetwork·
Fernando Valenzuela captivated the baseball world in 1981. His unforgettable year included winning the NL Rookie of the Year, Cy Young Award & a World Series title. We honor the memory of the Dodgers icon, who passed away Tuesday at age 63, with a look back at “Fernandomania.”
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ABC7 Eyewitness News
A new Costco store that will bring affordable housing to South Los Angeles is breaking ground this week. The mix-used complex will feature 800 apartments units above the new store, a portion of which will be set aside for low-income tenants.
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StripMallGuy
StripMallGuy@realEstateTrent·
Costco’s new look getting closer…
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WallStreetBets
WallStreetBets@wallstreetbets·
Kitty is here for the meme coin supercycle
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Joe Cohen
Joe Cohen@CohenSite·
The impact of ULA (LA’s "mansion tax") on development is much greater than most people realize. It hits projects twice —but probably not in the way you think. Let me explain: Let’s say a developer is building a building for $10 million to a 7 Yield on Cost (YOC) If the market cap rate is 5.5, they can sell the building for $12.7 million The profit on that building, before ULA is $2.7 million (ignoring transaction costs, which are substantial). But as we all know, ULA is assessed on the ENTIRE value of the sale, not the profit. So ULA’s direct impact is to remove $700k from the profit. Let’s give a conservative estimate for transaction costs of $500k. So prior to ULA, the profit was $2.2 million, and after ULA the profit is $1.5 million. That’s a 32% reduction in profit from a “5.5%” tax. But that’s not the full story… Development is funded by a combination of equity (coming from the developer’s investors) and debt (a loan from a bank or debt fund). Debt is capped at a fixed return, whereas equity captures all of the profits. The flip side of this is that equity is a much riskier investment than debt, because equity gets wiped out first. The most important factor in making sure debt is low-risk is the “loan to cost” (LTC) ratio. A lower LTC ratio protects the bank if they need to foreclose on the development. For example, a 70% LTC ratio means that in the case of a foreclosure, the bank is essentially forced to purchase the building at 70% of the cost to build it. The ULA tax isn’t charged on the actual foreclosure of a building, but it is charged when the bank goes to sell the building after foreclosing on it. As a result, in order to keep the same level of risk, banks are lowering the LTC ratio of their loans in proportion to the tax. So a 70% LTC loan becomes a 65% LTC loan. This has a massive impact on the financial feasibility of a development. For the $10 million development from earlier: - At 70 LTC, the developer needs to raise $3 million from investors. - At 65 LTC, the developer needs to raise $3.5 million from investors. (granted, borrowing 5% less of the development cost may save $100k in interest expenses, so let’s say $3.435 million instead) - Prior to ULA, investors were getting a $2.2 million profit on a $3 million investment - Now, investors are getting a $1.6 million profit on a $3.435 million investment Assuming a three-year hold: - Prior to ULA, the IRR on the investment was 20.12% - After ULA, the IRR on the investment is 13.59% Few investors are going to take ground-up construction level risk for a 13.59% return. This has major implications for housing production in Los Angeles: First, few investors are going to put money into building apartments in Los Angeles when they can get higher returns building elsewhere Second, every dollar of equity invested in LA builds 87% as many homes as it did prior to ULA. So if every $1 million invested in LA built 8 homes previously, it now builds 7 homes instead. Combined, these two impacts mean that ULA likely reduces the production of deed-restricted affordable housing in mixed-income projects to a greater extent than it funds new affordable housing. This is based on a lot of assumptions, but my rough estimate is that for every one affordable unit ULA builds from taxing the sale of newly constructed mixed-income buildings, it kills 15.7 units of market-rate housing and 1.8 units of affordable housing from reduced investment in mixed-income development. Luckily, the LA City Council has the power to fix this. My policy recommendation: any newly-constructed mixed-income building with at least 10% affordable housing should be exempt from ULA for its first sale.
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Paul
Paul@LA_Multi_Fam·
If you are buying an RSO building in LA & the seller installed in-unit washer dryers, mini-splits, recessed lights, new windows or any other fancy items with out permits, here is what you'll likely be faced with in the near future. Every 3-4 years there is a mandatory Housing Department inspection on all RSO buildings. Inspectors main job is to come & make sure you are not a slumlord! They check on habitability items such as smoke detectors, peeling paint, leaking fixtures etc. However, in the last 5 years they also come with their little ipads, which have immediate access to LADBS permit records. If you have any fancy updated items, they can check the permit records right on the spot. For whatever reason some of the younger inspectors love to hunt for unpermitted items. If your washer dryer, recessed lights, mini-split AC's, windows etc were done without permits, the inspector will note the violation & send your ass to LADBS to get the permits. "No problem, I'll just get my GC to pull the permit & it will be fine". Sometimes it's as easy as that, if the work was done to code. Pull the permit, get inspection & you're good. However other times it can go like this: We had about 80 un-permitted recessed lights in 5 units on a building in Mar Vista. Housing Department Inspector notes the violation & sends us to get the permit at LADBS. LADBS inspector comes & says that the code has changed & we now needed fire rated cans. We had to remove 80 cans, cut out 1 X 1 foot sections in the ceilings around every recessed light & install all the new fire rated cans. Since we had tenants in the units, we had to put them up in hotels for over a week while we did the work & got the inspections passed. As you can imagine motel, hotel, holiday inn or whatever for over a week for 5 tenants adds up. Washer Dryers & Mini-Splits can trigger even bigger nightmares. If LADBS comes to inspect & they deem that the building does not have enough electrical capacity or the plumbing isn't sized properly to handle all the added water usage or electrical draw you could be forced with a decision to upgrade all the electrical & plumbing in the building. At that point it may be easier to just take out the Washer Dryers & Mini-Splits. However as you can imagine removing Washer Dryers or AC units from a market rate tenant paying $3000+ per month doesn't go well! Your next tenant isn't paying nearly the same rate either. So if you're in escrow on a building with a lot of upgrades, make sure you can find permits for every single upgrade. If not, you need to have a conversation about price. If you just bought a building & are thinking you can rehab & upgrade units cheaper & faster without involving LADBS up front, you sure can! But one way or another, eventually Housing & Building & Safety will figure it out. The days of doing un-permitted work in LA are done! So when your broker says you can renovate to market rents at "$25K" per unit, he probably doesn't even know where to find LADBS. Finally, all the guys in the IE or OC laughing at us. You're next! I really believe all this fun stuff is coming to many other SO Cal neighborhoods in the next few years :)
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Ramin Ghaneeian
Ramin Ghaneeian@RaminGREP·
Mayor Karen Bass told real estate developers, via ED1, that 100% affordable housing projects are statutorily exempt from CEQA. So, our team invested in land and design to get a 100% affordable housing project approved. The approval letter reiterated that the project was statutorily exempt from CEQA. One week later, the city accepted a CEQA appeal for this project. To date, I've yet to see Karen Bass' team do a single thing about it. This project had no tenant displacement, is in a neighborhood with other infill apartment buildings of similar height, and is on a lot zoned for multifamily. To be clear, our team WOULD NOT have invested in this land/project if not for Mayor Karen Bass' promise. laist.com/brief/news/hou… @GavinNewsom @California_HCD @LAist
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ABC7 Eyewitness News
The L.A. City Council adopted an ordinance that would limit rent increases on rent-stabilized units to 4%, or up to 6% if landlords cover gas and electric costs. abc7.com/rent-control-i…
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Moses Kagan
Moses Kagan@moseskagan·
Am writing w incredibly sad news: Our friend @ArtemTepler is no longer w us. Will post a link to GoFundMe below to help his partner & young daughter. Hope you will join me in giving what you can. Pls like, RTs, etc. for distribution, so we can raise as much $ as possible.
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Lance Lambert
Lance Lambert@NewsLambert·
The most interesting housing market in America: Austin. During the '00s housing crash, it took Austin 43 months to fall 8.5% peak-to-trough. This time around, Austin has fallen 10.02% in just 9 months. fortune.com/2023/06/03/aus…
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Lance Lambert
Lance Lambert@NewsLambert·
Housing fundamentals are healing. Back in Q2 2022, @MoodysAnalytics estimated that the U.S. housing market was "overvalued" by 26.98%. In Q1 2023, the housing market was "overvalued" by 16.85%. fortune.com/2023/05/31/hou…
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Jeff Swearingen - CRE
Jeff Swearingen - CRE@JeffSwearingen8·
CoStar is great and all but it’s a shame that even the best CRE database is still only about 60% accurate. Anyone have any hidden tricks to find some phone numbers?
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Taylor Avakian
Taylor Avakian@TAYVAY_·
I made 100+ cold calls per day for years. I closed dozens of 7-figure commercial real estate deals. This cold call flow guided me on every single one. For 24 hours, it's Free. Like and Reply "Calls" and I'll send it to you. Must follow for Auto-DM.
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Clarence Wong, CCIM
Clarence Wong, CCIM@ClarenceWongCRE·
Heard Tides, a decent sized multifamily GP w/ $7.5B AUM, is underwater on a bunch of deals. If there’s some truth to this, they may to sell some assets bought at low cap rates w/ floating rate debt.
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StripMallGuy
StripMallGuy@realEstateTrent·
Drycleaners, their devastating impact on our communities that nobody talks about, and a solution: As a strip mall owner, I've dealt with this issue for 15 years, and I'd like to address it here. Hope this gets Retweeted so we save lives! Since the 1930s, the
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