vq

This one is for Tiger

Tenant thinks the mailbox area is her storage unit and feeds the neighborhood cats - does the desert scape keep them away? 🐈

@ChrandLord In that case

@Vq03 15 bucks versus replacement and tying up my guys for the afternoon. Not worth it. It’s an industrial look. It’s what the people want 📈🫡

Installed two rainfall shower heads today…One is a standup tub and we aren’t remodeling so it is what it is 😂

@ChrandLord The cost of just replacing that tub compared to having to see that pipe extension 🤣

@Vq03 What are you calculating

Jay-Z said something in his GQ Interview that stood out……he talked about editing your life. He said some people are for life and some are for a moment and "these ideas of loyalty will hold you in places that you don't belong.” It’s time to move on!

Donda West is featured on Bully 🥹 “You play tracks like Michael Jordan shoots free throws”

Ain’t nobody bigger than the program til they bigger than the program

@SinaiLawFirm And if someone were to create some internal database listing bad tenants it would be considered discriminatory - no login happening in those court rooms

Housing providers have 2 leverage tools - eviction record and money judgment. If the tenants go to trial and lose, the landlord can ask the court to unseal the eviction record. A sealed record is the landlord's only real weapon and leverage. In some cases, collections of back rent is a viable option too. An open eviction record, for most tenants, is catastrophic. Makes it very hard to secure housing. With proper vetting at the application stage, and a good lease agreement, housing providers can improve collection chances (or at least make it more viable). I've seen many, many, tenants overplay their leverage, go to trial, lose badly, and the eviction set them back years financially. Kids have to move schools, collections for 5+ years with fees and interest. It's not all roses for tenants, there are real risks. Especially when it's a low rental under rent control. That entitlement is gone forever, and many times it's the only way the tenant can afford to live in LA in the first place.

Do you want to know why rent is so expensive in LA? Why the application process takes so long? Why landlords want so much info from you? Here is a recent story: A family was referred to me for their eviction case. They were heading to a jury trial in one month and didn't have a lawyer, yet. They did all the paperwork and filing themselves, in-house to save on legal fees. And surprisingly, they did a great job. They filed the paperwork with LAHD. Gave proper notice to the tenants. I reviewed their paperwork and it was better quality than 90% of other eviction lawyers. I didn't see any viable way to dismiss the case on a technicality. As long as they were properly represented in trial, the family was going to win the eviction. They did everything by the book. Followed all the local rules. Gave all the necessary notices. The family told me the judge ordered the parties to mediate at the first court appearance. The family attended the mediation in court without a lawyer. The tenant was provided a lawyer by the city, for free. At the mediation the lawyer for the tenants offered this settlement: 1. 4 months to vacate the property 2. Cash to leave, paid upfront 3. Waiver of all owed rent 4. Sealed record They rejected the offer, of course. Why would they accept this? The family then asked me a great question. "What is our best case scenario with you in trial?" Based on my review, I gave them my most realistic estimate of the best case scenario in trial: 1. Both parties announce ready at the next trial date (1 month away) and trial takes 3 days. We win the trial. 2. Sheriff locks out the tenant 75 days after the trial. 3. about 110 days to possession. 4. Gave them an estimate cost for fees/prep time. 5. No viable collection of back rent, tenants had no assets. Obviously, this was the best case scenario. It could be worse. Trial can be delayed. While I was confident we are going to win, juries are unpredictable. This is where we had a surreal moment of collective clarity. The settlement offer they rejected is basically their best case scenario if they win the trial. This was not a coincidence. The attorney for the tenants asked for pretty much the same amount I quoted them for my fees. The lawyer for the tenants knew the family had to hire a lawyer for a jury trial. The lawyer knows it takes the sheriff 2-3 months to lockout after a judgment. The lawyer knows it's hard (and expensive) to collect against tenants with no assets. State and local government created a system in which cases take forever to litigate, eviction laws are extremely complex and technical, easy to dismiss cases, only one side has to pay a lawyer, and worst of all, possession enforcement takes 60-90 days instead of 5. And it's all getting worse. The leverage for the tenants is systemic. It's by design. Why would the tenants make any other offer? The landlords are left with no real options but a shitty settlement. There are no real choice. Even when you do everything right, you still lose. Tenants don't pay rent during evictions. They had no viable way to win the trial. There were no habitability issues. The landlords posted all the notices. Never raised the rent. Didn't retaliate. The landlords did everything right. And the tenants still win. The mother looked at me and asked "our base case in trial is the same as the shitty settlement offer? Are you telling me we should have taken the offer we rejected?" I didn't know how to respond.

@mhp_guy I bet Claude recommended he do that

Just got this Venmo request from a stranger. What would you do?

@GenZMultifamily @claudeai

@Vq03 That's sick, Ill check it out. thanks!

Don’t overthink your projected rent. Go to Zillow and find 5-10 units for rent listed in the last 2-4 weeks. Same type of building, similar condition, similar amenities. Plug rent and sqft into excel, find the average $/sqft, apply it to yours. I usually discount it a little to be conservative And make sure you read the listings! If the comp chargers $50 for water, and you include it, adjust for it. Not saying this is 100% accurate all the time. But it will give you a pretty good idea for your units while underwriting.

@bwengr @Real__State @shawngorham Send the contact!

@Real__State @shawngorham The Chinese who work at the direct import places are on another level for cabinets and counters. Cheap, fast and somehow good.

Many seem to think Mexican labor is cheap labor The Korean painters underbid the Mexican painters every single time

@pitdesi Until you gotta go visit your sick grandma last minute and there’s no seats available and next available flight is when she’s dead

United is going to let you buy 3 seats and covert it to a bed. Such a no-brainer product for airlines to add on long-hauls, particularly great for families.

Until someone reclines their seat on u

i’ve concluded that this might be the greatest realization you can have

LAKERS GETTING GRITTY

@realestatedude0 South Belmont 🤣

Why HOA is kinda needed sometimes.

@BigChon128 @realestatedude0 ^

@realestatedude0 3.75 million

Guess how much 2/2