Somehow, I never get to be the Top Hat.
I have clients who want to own investment properties. And even though they may own several personal and vacation homes, the idea of putting all of their property investment eggs in one building basket is counter to their successful track record of spreading the risk across different assets.
Regarding real estate, individual investors generally think of the three most common property holdings: office buildings, shopping centers and apartment buildings. And the easiest of these investments to manage and understand is the apartment building — people pay rent, you subtract your expenses and voilà, there’s your net taxable income. (The CPA then works his/her magic by factoring in mortgage interest and depreciation deductions, but that’s something for the next day.)
Posted in Investment, Los Angeles, New York, Real Estate, Real Estate 101
Tagged commerical, homes, housing, investing, Investment, los angeles, prices, real estate, Spencer Krull
Enjoying my morning coffee and LA Times, NY Style.
I never thought the Treasury Department’s thresholds for reporting the people behind cash purchases of residential real estate would make me face my bi-Coastal allegiances.
Having grown up in New York, and having lived in Los Angeles for more than half of my life, I’m conflicted. I read the New York Times (electronic edition) every day. I also read the Los Angeles Times (print edition), which, jonesing for a NY experience, I fold in the manner I learned in fourth grade so as to more easily read it on the subway. [That this was taught to me in school as part of the curriculum says volumes about the veneration of The Times. But I digress…]
I identify as a New Yorker, especially when it comes to claiming unparalleled authority on topics such as bagels and pizza. Even more so, I wear the mantle of having grown up in Manhattan with unwarranted snobbery over those from Long Island or New Jersey ― unwarranted as I was simply lucky to have parents cool enough to live in the city, and did not attain that rank of my own merits. Continue reading
Posted in Investment, Los Angeles, New York, Real Estate
Tagged Beverly Hills, FinCEN, homes, housing, los angeles, money laundering, real estate, Spencer Krull, Teles Properties, west LA
There’s a conversation that real estate agents and their clients have every four years, usually starting in July (sometimes August, and in some cases, even September) based on the question, “So, how do you think the election is going to effect the real estate market?” My stock broker tells me his clients ask him the same thing about the stock market. That said, since you may be interested in asking the question, I’ll reply with the same ever hedging answer I get from him whenever I ask about the market: “it depends.” Continue reading
Posted in election, Investment, Los Angeles, Real Estate, Uncategorized
Tagged commercial, homes, housing, los angeles, prices, real estate, Spencer Krull
Does the recovering housing market keep away investment buyers?
KPCC’s Airtalk does a great job of covering local (Los Angeles) and national issues. Yesterday’s show was about the housing market and how buyers with loans are having a hard time competing against all cash buyers. It’s a good segment. The segment is worth a listen, but if you want to hear my personal take, my call comes in around the 5:45 mark.
Click here to listen to the segment.
Here’s the other commercial I forgot to post last month. ¿Olé?