ทวีตที่ปักหมุด
Norm Kawaguchi
5.5K posts
Norm Kawaguchi
@NotJustTheNorm
RE conversations, quotes, & insight (maybe). Former commercial banker. Agent & Investor | Berkshire Hathaway HomeServices DRE #01438116
California, USA เข้าร่วม Şubat 2022
297 กำลังติดตาม945 ผู้ติดตาม
@GenZMultifamily @TimHoopAllDay Wow, it's interesting to see where rents are in different parts of the country.
Thanks for sharing.
English
@NotJustTheNorm @TimHoopAllDay Listing said current rents were $600-$625 and market rents $850
English
Like it or not, this is the ideal first rental property.
4 Units
All 2 beds, outdated but great shape
Off street parking and good size lot
I prefer post 1970 but if it’s got good bones, that's really all that matters.
You'll find these everywhere out there, good and bad neighborhoods.
Keep it simple. These are the Midwest bread and butter.
English
@CREMattSD everyone is on edge, not just in my field, everywhere
there's a serious undercurrent of uneasiness
English
@spencerpratt Well then I guess it doesn't matter if it's right next to her house.
English
Watch Nithya Raman’s constituents BOO her when she says it doesn’t matter if homeless drug encampments are cleared out or left right next to a school. Then she rolls her eyes. No wonder everyone hates her.
English
@texasrunnerDFW Years ago, my clients from England were surprised that property taxes were not a 1 time expense.
English
What people who want to cancel property taxes are really advocating for is higher sales taxes and higher income tax
The burden of both those is disproportionately carried by young, working families at the height of their income and consumption stage in life
English
@louisminguey @keegan_tweets Another city or out of state?
English
@keegan_tweets I have lived in Pasadena since 1992. (With the exception of the three and a half years I was married) I lived in the same house since 2001. Property is for sale, will probably be sold soon and I'll be taking off as well.
I'm not sure housing is the issue. Prices are.
English
After 9.5 years in Los Angeles, 7.5 in my wonderful Pasadena apartment it is time to bring my California Adventure to a close.
Love living down here but there can be no future for me in a city that builds zero housing. My work wants me in our Seattle office, and so off I go.
English
When we bought one of our commercial properties in South Park (DTLA) around 2015, our tenants were paying around $1.5/sqft for a decrepit flex space.
Since then, countless apartment have gone up nearby. Probably billions of dollars of investment in this submarket since then.
And finally, one of the tenants left this year.
So now we can re-lease it, after TIs and commission, in this new market, for $1.5/sqft.
Long live gain-to-lease.
English
@LA_Multi_Fam How long has this been going on?
Last lease I had in LA was 2024 and we had about 10 apps for each unit.
English
@NotJustTheNorm Rents are flat, less people hunting and our standards have tightened considerably also because of all the eviction non sense.
So to get an applicant that will never default need to be willing to be on the market longer or be more competitive with the rent.
English
We just rented a unit at the same price as 2021.
Accounted for inflation, that’s a pretty big real rent decline?
I think Los Angeles renters are in a much better postion today then 2021.
Realtor.com@realtordotcom
California added 677,000 housing units over six years while gaining only 39,000 residents, yet the market remains tight, with rental vacancy at just 4.3% and owner vacancy falling to 0.8%. The reason: smaller households require more housing per person. Read: rltor.cm/JFrTGY
English
@DMAC_19 Haha, that's exactly what I said to the agent :)
English
@NotJustTheNorm If you can’t close, you can’t close. Was never real to start then.
Waste of time…
English
If you’ve received multiple offers around 8% below ask, what’s your move on the counter and what’s that tell you about your asking price?
English
@LA_Multi_Fam Wow, that's a good area - that's surprising to me.
What's going on?
English
@DMAC_19 The seller refuses to move off their price. They had an offer at their price prior to market, but the buyer couldn't close.
Now the seller is anchored to that price.
English
@NotJustTheNorm That’s insanity. Just cold feet or what changed?
English
Over 70% of the East Village voted for Mamdani.
Now they’re suing Mamdani because he’s planning to relocate Bellevue homeless shelter to the East Village.
New York Post@nypost
East Villagers sue Mamdani to stop relocation of notorious Bellevue men's homeless shelter into their neighborhood trib.al/LtTU4vZ
English
@NotJustTheNorm Taken with the agents phone? Nice view of the back of the car.
English
Just when you thought you've seen it all.
This is the first photo for a listing.
English
@DavidPiotrowski "Wait, I can't kick them out when I buy the property."
Me: Yeah, they're basically there for life. That's how you need to look at it.
Makes no sense to an outsider.
English
It should be nobody's business what a landlord wants to do with a rental property they own after a tenant vacates. A landlord should be able to give a tenant a 30 (60) day notice at any time and without providing any reason why.
The city/county and the tenant should have no right to know what the landlord wants to do with their own property.
Many people disagree. What do you think?
English
@AwakenedOutlaw @steveMmattison And for a utility that has no competition or accountability.
English
So, upper mgmt for the LA Water Dept has 130 people making roughly a combined $70,000,000 p/yr.
How is this even real?
Wall Street Apes@WallStreetApes
This is literally mind blowing Spencer Pratt exposes Los Angeles Department of Water and Power salaries - Over 100 LADWP employees earn an annual compensation of over $500,000 per year each - 26 LADWP employees earn more than $600,000 thousand dollars per year - 4 top level LADWP employees earn more than $700,000 dollars a year - The LADWP has a combined water and power budget of 11 billion dollars I looked into it further, and get this 100% of leadership and oversight of the Los Angeles Department of Water and Power are aligned with Democrats Mayor of Los Angeles Karen Bass appointed the 5 member Board of Water and Power Commissioners, which sets policy and approves major decisions like executive hires and salaries California is essentially run by the mafia They are literally giving themselves $500,000 -$800,000 EACH and this is just one department
English
@J_Koenig21 @themagnogroup Buyer should pay a per diem to cover your mortgage for the extra days.
Delays happen, but this being an issue right off the bat is problematic.
English
@themagnogroup Would you consider asking buyers to cover holding costs that we incur during the additional 15 days?
English
We accepted an offer on this flip based on a 4/30 close date.
Day one under contract — lender says 5/15.
Buyer’s agent hasn’t said anything or sent a supplement.
Whether that was a negotiating tactic or just incompetence…neither is acceptable.
How are you handling this?
English
@J_Koenig21 So lender can't close sooner than 30 days?
I'd immediately reach out to the buyer's agent and let them know what the lender said.
Red flag that agent and buyer are not on the same page as lender.
English
@erichhartmann @WallStreetApes @VickeyMax And most wouldn't survive in the private sector.
It's sickening.
English
@WallStreetApes @VickeyMax The deal used to be "if you work for the government, you can expect a lot less money, but the job security was a bit better."
But over the last couple decades, it's morphed into "a lot more money, the best benefits, ironclad job security, retire at 50"
English
This is literally mind blowing
Spencer Pratt exposes Los Angeles Department of Water and Power salaries
- Over 100 LADWP employees earn an annual compensation of over $500,000 per year each
- 26 LADWP employees earn more than $600,000 thousand dollars per year
- 4 top level LADWP employees earn more than $700,000 dollars a year
- The LADWP has a combined water and power budget of 11 billion dollars
I looked into it further, and get this
100% of leadership and oversight of the Los Angeles Department of Water and Power are aligned with Democrats
Mayor of Los Angeles Karen Bass appointed the 5 member Board of Water and Power Commissioners, which sets policy and approves major decisions like executive hires and salaries
California is essentially run by the mafia
They are literally giving themselves $500,000 -$800,000 EACH and this is just one department
English