The Deal with Danny Brown is hosted by top luxury real estate broker, Danny Brown. He interviews elite performers in business, sports and entertainment and finds out what makes them "tick". In this episode, Danny brings Kenny back to discuss the post-pandemic market and his career arc after 20 years in brokerage. Some items covered include:
Effects of COVID on the multifamily market
Predictions for 2022
My career arc
Advice for new investors
Since inception, Arixa Capital has originated in excess of $1.7 billion in loans and has generated attractive risk-adjusted returns for its partners and investors. Kenny joins fellow industry leaders to discuss their outlook on multifamily investing in 2021. Topics covered include:
Where do we see the best opportunities? Urban vs. Suburban?
Political Risks (federal, state and local)
Benefits of renovations vs. ground-up construction
In his latest interview with the Los Angles Business Journal, Kenny shares an in-depth case study on the closing of a generational asset on the sand in Playa del Rey. Despite the COVID-19 pandemic, the premier location of the property had attracted a lot of buyer interest and sold 45 days after signing the listing agreement.
"Despite the pandemic, the property is just an asset that you find once in a generation. I've never seen a property like this, on the sand and a good property too, a well-maintained property of decent size and on the sand. You can't find it anywhere," Stevens said.
Kenny joins Hannah Madans, reporter for the Los Angeles Business Journal, to shed more light on his latest closing in Silver Lake during the COVID-19 pandemic. With few transactions in Los Angeles at the beginning of the pandemic, Kenny goes in-depth on the story behind the sale and his observations on the state of the real estate market at large.
"It was one of the more challenging escrows that I’ve had. This market feels similar to 2009-2010 where deals are happening, but there are fewer of them, and they are a lot more involved,” Stevens said. “It’s really not easy to close it. It takes a lot more persistence and skill than it did a year ago to close a deal.”
The Deal with Danny Brown is hosted by top luxury real estate broker, Danny Brown. He interviews elite performers in business, sports and entertainment and finds out what makes them "tick". In this episode, Danny invites me and Romy Nourafchan of Insignia Mortgage to discuss the state of the Los Angeles Housing Market, including...
The immediate effects of COVID-19 on the LA multifamily market
What are investors attitudes now
Mortgage forbearance and what that looks like
Tenant and landlord rent negotiations
Serving as one of the largest multifamily closings during the start of the COVID-19 pandemic, Kenny joins Los Angeles Business Journal reporter (Hannah Madans) for a detailed case study. Given the uncertainty in the market at the time, Kenny shares how he was able to keep the deal together during such trying times.
“There were some challenges in closing a deal during the coronavirus,” Stevens said. “Lenders, inspection, basically everything. The fact that this deal closed with no renegotiation I think really says a lot about the buyer and the seller.”
Real estate developers are plunging into the waterfront city of Long Beach where speedier approvals, strong demand and lack of rent control have opened the flood gates to residential and commercial projects.
In downtown Long Beach, there $5 billion being invested in real estate development and there's a total of 73 projects citywide either under construction or about to break ground, according to the city's Economic Development Department. The building boom includes roughly 5,000 housing units.
We're excited to share Kenny's interview on the "Love Is Real Estate" podcast.
In this interview, Kenny shares some golden nuggets on the current multi-family investment market in Los Angeles, including:
How to begin investing in real estate
The hottest neighborhoods to invest in
Current market trends in multi-family
The benefits of working with Kenny Stevens Team
...And more!
We know you'll enjoy the many gems of information from this 20 minute interview with Ari Afshar.