There is a perception amongst people who have never been to LA that life here is all about the sex, the parties, beautiful homes, hanging at the beach – having it all. You know what? They are absolutely right Those Rich Kids freezing your buns off…come check out SoCal. I don’t know one other city where dreams come true every day and you have the ability to create a life beyond your wildest imaginations.

I have to say I have the absolute best job in the world! I am pumped for the next “Living Richly w/ Rich Kids” event. Hiking? Kayaking? Binge Drinking? I am open to suggestions!!!!

I am looking forward to hanging out again!

With that said, I am excited to bring you “Living Richly with Rich Kids”. You’ve seen us in bed, having drinks, sunbathing in the moonlight at the W (obviously we do this all the time), but what happens on a Saturday when there is a rare occurrence that we have some free time? Ala the mighty Oprah, I wanted to extend wellness and all the great outdoor activities LA has to offer to our clients/friends.

As many of you know, one of my newest loves and stress relievers of 2012 has been surfing. For the last couple months, I have been trying to go out 2-3 times a week either by myself or with an instructor. I am not going to lie, I totally suck! However, I have a blast and there is just no better rush than catching your first wave. I can’t shut up about it and want to share this new passion/experience first hand with all of you. This is an open invitation to friends, clients, readers, or anyone who happens to see this on Facebook or my blog…also, pass along to anyone who might want to join:

The Rich Kids Free Surf Clinic 

Location: Santa Monica/SAMO Beach (Bay Street at the Ocean) 

Day/Time: Saturday, Feb 18th at 9am (be there a bit early)

Meeting Spot: The Parking Lot on the Sand on Bay Street to the Left of the Parking Attendant. You’ll see a Silver Mercedes with Surf Racks and A Jeep With Boards, Etc.

The Details: Local Surf Instructor Sergio Will Be there to Provide Us With a Hour Free Clinic. He Has Boards and Wetsuits (you will not be cold in the suit…I promise) – $15 for a Suit/$20 for a Board. If You Have Either or Both Bring. For Us Beginners, He’ll Be With Us the Whole Time. For Intermediate to Advanced, You Can Play and He Can Offer Tips in the Water. All Abilities, Levels Welcome. Just Be Ready for Fun and Become an Addict!

RSVP: Suits and Boards are in Limited Quantity, So Please Let Me Know if You Can Make it and What Equipment You Need!

Dying to Bust Your Board and Wetsuit Out But They No Longer Fit in Yor Porsche (Pinto, Yugo, etc) and Live in BH or WeHo? I Can Fit 4 Boards on My Rack (that sounds strangely provocative)…Let Me Know and We Can Carpool!!!

If you have always been dying to try surfing, but don’t want to make the investment in equipment or spend $100 bucks an hour on private lessons, this is your chance to give it a go on me. Please feel free to email, call, or send a message in a bottle with any questions. I am STOKED!!!!!!

Check out Surfline for FAQS on beginner surfing, waves, tides, FAQS, and fun facts!!

I don’t think the photos convey  just how explosive the views are. Looking at an unassuming front exterior, one would never guess that there is a four story drop dug into the hillside showcasing unobstructed panoramic views of Downtown LA, Century City, and the entire Los Angeles basin below. Built in 1989, the house is very much move in ready as is. With three bedrooms, 3.5 baths, and just under 2000 sq ft, the floor plan is quintessential hillside living. Every floor/room (with the exception of the bottom floor) has a massive balcony that perfectly frames the jetliner views that encompass the LA fantasy.

Within the last 6 months, I have found that there is obviously quite a demand for these type of REO/bank owned properties. The property was listed at $921,000 and within 7 days there were 8 offers, half of which were cash and as the “Sold” price clearly shows, substantially over list. REO deals in the past have been very quick and easy! Since the Dodd Frank Act, we had acceptance right around the time I left for London in early December and we just recorded yesterday. Side note: When considering purchasing a well priced REO or Short Sale that clearly is going to spark multiples (I am currently in escrow on a short sale I listed and I had 7 offers within one day of showing), come prepared, and do the following things if you are in it to win it: 1) Cash is always king. These escrow are getting harder to close and there is a major influx of cash buyers right now with foreign money looking to scoop up these properties. 2) Keep your contingencies short and your escrow period even shorter. Cash buyers should go in with 14 day escrow periods after bank acceptance if you want to grab the property. Try to conduct your buyer investigations immediately so you know up front the condition of the property. The disclosures are very limited from the banks as they have never occupied the home nor know much about it. We have to put on our detective hats and dig deep to make sure your buying the real deal. 3) Hire Rich Kids Real Estate…having learned from the master of multiples when I was an assistant way back when, there are certain things you can do in advance that will make your offer an even more appealing prospect to the bank. I typically always win multiples..there is a strategy.

I really had to stay on top of this one 24/7. I was in London/Berlin, my buyer was in Mexico, and my transaction coordinator was in Prague. Rich Kids international style, baby…that’s how we roll. The synergy  of my team, along with amazing listing agents (Sam Villeda and Rick Beck of Coldwell Banker Sunset Strip) were essential in making this tricky deal happen.

I would also like to give a heart felt thanks to the Royal Gardens Hotel in Kensington London for having a 24/7 business center that was open Christmas Day and allowing me to use your Royal printers/scanners even though I was masquerading as a guest to use your facilities (my flat didn’t have a scanner)…you guys were uber cool and thank you for not charging me the 100 quid I probably would have racked up in there. Even though we were all working on Christmas Day, we had some laughs and it was a fun experience!!

Lastly, I give major props the best clients in the world! Thanks D for being so loyal after 7 years (how can it be this long since I am only 25…was I really practicing real estate since 18…maybe, maybe not, lol). Here’s to adding another amazing property to your Los Angeles portfolio!

Fantastic clients, an awesome closing on a killer home, and a new property in escrow all in January. I’ve got a feeling 2012 is going to be pretty epic!!!!

Love the house? You can live it! We are now looking for a 1 year tenant, $6500/month for a 1 year lease unfurnished or a 6 month fully furnished lease also available (terms on that can be discussed) ready to go ASAP. More to come!

Many people have emailed me about this development from all around the US  commenting in general on how special it is. Well, you are in luck! I will be closing on a home up in the Sunset Plaza area of the Hollywood Hills next week (KILLER VIEWS…cannot wait to share this with you and again, major deal) with the current owners and they have decided to put this one on the market for lease. My clients reside outside the US, have stayed in this unit maybe 3 times, and the prior owner never even occupied it. He bought it at the height of the market because it was/is such a extraordinary piece of architecture that he didn’t want to miss out. When I was doing inspections, literally the oven and microwave still had the instructions and wrap on it.

Ready to sign on the dotted line? Here are the deats (I really had fun writing this description for the MLS entry):

825 North Kings Road, Unit 15, West Hollywood, CA 90069 – $5000/month – 2br/2.5ba, Roughly 1590 Sq Ft

A rare opportunity awaits to reside in the award winning architectural masterpiece, Habitat 825, by famed architect Lorcan O’ Herlihy. A prime example of modern architecture at it’s finest, this two story, top floor unit boasts floor to ceiling windows, sleek hardwood floors throughout, explosive views of the Hollywood Hills, and an expansive private sun deck where clothing should most certainly be optional. The open floor plan on the first floor showcases an open gourmet kitchen with brand new Viking stainless steel fridge, Miele appliances, and Boffi cabinetry. An entertainers delight with first floor powder room, airy living room/dining room, and a massive laundry room to clean up after it all. By days end, retire to one of the two dueling mater suites on the second floor. Whether it’s a bath for two in the oversized square, free standing tub in the master or a shower for 3 in the floor to ceiling glass shower with skylight in bedroom 2, getting clean and then hitting the sheets was never so much fun. Should one opt for a night out,  Melrose and Santa Monica dining/nightlife are just a short stroll. Leave behind 2 cars securely situated in side x side parking spots. Can be made available furnished.

I rarely do open houses for leases, but I remember dying to get into one of these units way back when and wanted to offer even just the looky lewes a chance to stop by and take a look! Open Sunday, January 28th, 2012 from 1pm-4pm with typical Rich Kids Fare. Never been to a Rich Kids open house? It’s not just an open, but an event!

This week, Rich Kids has a new sale closing in the prime Hollywood Hills off Queens Road with some of the most amazing panoramic views you have ever seen. Also on tap is a short sale condo that received 6 offers within the first day it was open to be shown accepted well above list, and a killer lease in a West Hollywood architectural gem that you would sell your mother for!

All that and some insight into investing overseas: my day with a West London Foxton’s Estate Agent. It’s a lucrative market for investing, but make sure to clench because if you aren’t careful you could be “Gazumped” by another buyer right at the end (to be explained). With the Olympics and Queen’s Jubilee Anniversary on tap, there could be some interesting investment opportunities. Side note: for those of you new to the Rich Kids blog, I am not English but will get a case of the “Madonna’s” from time to time and I certainly have a fondness for both London and Hydrangeas.

“Do you want more? Well I’ll give you more”. This is just the teaser. Stay tuned…killer sales, new ads, events, and lots of market info to come. The Rich Kids blog is juicer than ever this year! Strip down and cool off because it’s going to be a hot winter in Beverly Hills (literally…it was 80 degrees today).

With that said, Rich Kids is pleased to present an extraordinary opportunity to create the ultimate dream home in prime, lower Laurel Canyon. This expansive flat lot of almost 11,000 sq. ft is primed and ready for development. The original structure (uninhabitable) remains on a raised foundation, as well as a storage shed and 2 car garage/carport. Even in it’s current state, the property immediately envelops you into it’s lush foliage, towering trees of historical significance, and an enchanting hillside dotted with colorful floral accents contrasted against vibrant greenery. Few opportunities of this caliber remain in this uber central location where one can walk to the heart of the Sunset Strip and then return back to a perfect custom built retreat that feels worlds away from the city.

As I had mentioned in the beginning of this post, I have had a lot of clients looking for development opportunities. While they are certainly out there, many are located hillside adding on significant costs for expansion (additional sq footage, pools, etc) due to the geological conditions. Many are great properties, but one would need to spend a quite a bit to get them up to par with an entry point hovering right around the one million dollar mark. Although I am not a contractor, those who I have briefly consulted with see some interesting possibilities with the original structure/foundation. Either way, flat lots in Little Laurel just north of Sunset are few and far between. My gut says this should be a pretty quick sale (or it could be that not so savory breakfast burrito I just ate).  I’ve been getting calls left and right indicating that there certainly is interest, which is exciting for having been on the market 2 days!

I will keep my loyal readers posted as things develop (again, another pun intended, lol). Stay tuned…

In true Rich Kids fashion, every property needs some sort of event hovering around it. Since there is no house to hold an open in or a cocktail reception, I am thinking a white trash themed abandoned lot party: Coors light kegs, trucker hats (circa the hideous white trash chic Von Dutch movement of 2002), and some really awesome local bands performing. Start digging trough your closet now…don’t lie – I know you have something appropriate for the event like say anything “acid washed”. Along with the lot photos, I have included a shot from the original “White Trash Bash” thrown to celebrate the closing of my friend H’s new pad a few years back in West Hollywood. I channeled my inner Kevin Federline and am the one in the Dodgers cap!

I had the chance to sit with Brian and talk about his masterpiece of distinctive, contemporary architecture. The objective was to give those who are used to the best a similar experience that would be found in a single family home in Beverly Park – 24 hour security/concierge, 37 video cameras, and a boutique style gym/screening room inspired by the finest homes. La Terrasse  is comprised of 20 units positioned within 5 stories, 4 of the units being exquisite  4000+ square feet penthouses.

Adler raised the bar with rich, high-gloss Italian burled walnut & sycamore cabinetry, floor-to-ceiling limestone fireplaces & brushed walnut & limestone flooring. Marble & granite counter tops, mahogany doors, large built-in closets complete each residence. The sumptuous master bedroom is absolutely massive and features his/her closets and baths.

Located on Doheny, a Rich Kid gets the best of both worlds – the pretige, safety, and security of Beverly Hills, 90210 while being within walking distance to West Hollywood’s renowned dining and sexy nightlife (yes, nightlife can be very sexy…you will just have to take my word for it).

I want to welcome my client, B, as the newest member of the Rich Kids Family. Both you and your sister won me over immediately, but having drinks while signing the paperwork sealed the deal! I could not be happier that you both are in LA, have the slickest condo around (clearly for all of us to have a glass of wine on the terrace), and on a selfish note, I love that I now have 2 new friends. This is what Rich Kids Real Estate is all about!!! I’ll raise a champagne flute (or red party cup) to that – cheers!!!

I have been in love with this Lorcan O’ Herlihy original for quite some time. If you live in or know the West Hollywood area well, most people are familiar with this iconic and in my opinion, one of the most architecturally significant buildings in the city. Lorcan has a knack for creating unique design aesthetics that literally pop out at you when you drive by. When Lorcan makes his presence known on your street, the area is automatically catapulted to another level. I would say that this particular building is the crown jewel of his work. With that said, it gives me great pleasure to announce Rich Kids latest sale at 825 North Kings, Unit 15. Nothing is more exciting (well, perhaps I can think of a few other things) than having the opportunity to sell a piece of property that you have always admired!

It’s funny, because I was going back to my blog entry about this building datedAugust 31, 2009, I remember initially seeing one of the lower units and being somewhat disappointed. I think I likened it to going out on a date on Match.com (not that I have ever done such a thing or know anything about it). You see the photos, get to meet the person, and you are just completely enthralled. Then you get to know them a bit more, only to find out that it was a total let done once you got inside them (this can be interpreted in numerous ways). With each unit being completely different, I gave the development another shot and was totally blown away by the other units. In 2009, a similar unit and next door neighbor to this one was on the market for $1,249,000. My client just closed on the neighboring one in an REO/bank owned sale for $734,900. Unit 16 just sold for $725,000 with 300 sq feet less, single floor, and no rooftop garden. Suffice it to say, we got a steal of a deal and closed it in 20 days! Side Note: I am noticing an abundance of REO/bank owned deals right now and have gotten quite proficient with this sector of the market. It takes a little more time doing buyer due diligence up front and following up, but the savings can be massive. I would probably list this unit in today’s market in the low $800′s if this were a conventional sale. One other thing is that you and your agent (hopefully me) have to be really on top of these listings if you want to beat out the competition. I was visiting a friend in DC and scheduled my flight at 5am the day before Labor Day when this hit the market to have it inspected and write an offer before anyone else circling could have a chance to jump in. A Rich Kids client gets what they want, when they want it and it’s my pleasure to offer that type of concierge style service!

Congratulations, D! I would welcome you as the newest member of the Rich Kids family, but you have been around since the very beginning. Instead, you now get the be the first member of the Rich Kids Frequent Buyer’s Club. Thank you so much for your loyalty and always injecting style into everything that you do! I appreciate you more than you know!!! Cheers!!!!!

When you have an extraordinary synergy with the team facilitating the sale and a very easy escrow, you have to give some shout outs! Since this is an Oscar Worthy home, I am going to give my props as if I was were giving an Oscar Speech!

First and foremost, I want to welcome my client as the newest member of the Rich Kids family. It was an absolute pleasure working with you and cannot wait to see the place once you are all settled! This house is not only a show place, but a piece of Hollywood history! Congratulations!!!!!!!

To Listing Agent, Matt Altman – Here’s to the next generation of young agents! I appreciate all of your hard work!

Sue Nichols at Granite Escrow  - You always made me laugh or smile when we were on the phone together!! You rock!

Lou Nanquil, Transaction Coordinator Extraordinaire/Westside TC- Thanks for being with me through every deal…I don’t know what I would do without you!

Dana Benson, Benson Design + Build – You have been so generous with your time working with us to take a stunner like Kings to the next level. I really appreciate your creative thinking, thoughtful responses, and just your over all coolness. Benson Design + Build has certainly been the best contractors I have worked with, hands down!! I cannot wait to see the finished product!

Last but Certainly Not Least – JP Meglio at Bank of America and Doug Burton at Prospect Mortgage. We as the agents facilitate the sale, but at the end of the day it is the lenders who make it happen for the clients. I cannot thank you enough for backing up your words with actions. By accommodating my client’s special day, you made us both beyond ecstatic! I never once sweated the transaction, which is quite a feat. Major kudos to you guys!

Now that the awards portion of the entry has come to a conclusion, I suppose you would like to learn a bit about the property? Please see below on an article I wrote upon going into escrow. One thing I discovered yesterday. Roberty Downey Jr had his children’s names, Indio and Elias, written in the wet cement of the driveway in 1992. How cool is that????? See photo!

1494 North Kings Rd, Los Angeles, CA 90069 – Prime Hollywood Hills, Roughly 2763 sq ft – List Price: $1,725,000, Sold Price: $1, 650,000

Few homes have the Hollywood pedigree as this Spanish stunner located on prime Kings Rd, north of the Sunset Strip. Comedic legend Charlie Chaplin was the original owner. What I thought was especially cool about this fact was that as I was looking at the chain of title for my buyer, the original documents from the 1920′s showing Chaplin as the owner were included in the scan. These docs are so old that it looks like they could call apart at any moment, but a cool piece of history non the less. Another interesting factoid about this property is that Robert Downey, Jr was an owner and as fate would have it, gave an Oscar Nominated portrayal Chaplin in the film “Chaplin”. Kelly Osborne was the last celebrity owner in the mid 2000′s and as you can see in the photos below, her English thumbprints are especially noticeable in the meticulously done bathrooms. As it pertains to the home, one item that kind of amused me was that out of all these decadent rooms, one room that is not over the top (although still gorgeous) is the kitchen. I was joking with my client and the listing agent that my hunch was that not much eating was happening in this home when you look at it’s most current, famous owners!

This Spanish is attractively situated just above the Sunset Strip offers exceptional access to an innumerable array of entertainment and dining options. Beautifully restored and updated for modern living with stylish upgrades throughout, this charming home is warm and welcoming allowing for both comfortable daily living and intimate entertaining. Open floor plan with lots of natural light, fine dark hardwood floors throughout, dramatic original beamed ceiling living room, stunning dining room with French doors leading to patio for great indoor/ outdoor flow, large chef’s kitchen and recently remodeled baths. The two story master suite offers high ceilings, two bathrooms, multiple closets, spacious sitting area, city views, and French doors that open to a secluded backyard with lovely entertaining patios and fountain. Two additional private en-suite bedrooms and grand office with exceptional views complete this classic Hollywood lifestyle.

What I love about this organization is that the donation is something more than just cash (although that is equally appreciated) – it’s someone sacrificing a part of themselves that is usually quite precious (their hair) to help someone else in need.  The Beverly Hills Chop is entering it’s 5th year, with the first three held at Cristophe Salon.

Last year I partnered up with world famous hair stylist Sally Hershberger to bring a fresh new prospective to The Beverly Hills Chop and it was a huge success. Many thanks to Sally for letting Rich Kids invade your Salon yet another year to hopefully break records for Locks of Love! Here is the skinny on the event:

For those of you with ten inches of hair or more to donate (your hair will be used for the actual hair piece that the children wear - sorry ladies, weaves/extensions don’t count), you will receive a free cut and style from a member of Sally’s team at her slick salon on La Cienega (ladies – this would cost about $350 min and guys – $200). If you don’t have the inches to spare, we will be offering $50 haircuts for both guys and gals with all proceeds going to Locks of Love. There will be my world famous vodka based “Choptails” guaranteed to help ease your transition into your new ‘do, prize for most inches donated, goodies to munch on, and give aways.  I have 25 slots available that will fill up fast. The preference is donated hair, but all are welcome to participate. The vibe will be fun and festive, so if you’re a friend, client, or avid reader please feel free to drop in!  If you have friends with long hair that have been waiting for an opportunity like this, please spread the word and forward to everyone on your office. It’s all about getting as much hair as possible for the kids!

Event Details:

The Beverly Hills Chop 5 – September 12th, 2011 from 4pm-8pm with last appointments at 7pm 

The Sally Hershberger Salon- 760 North La Cienega Blvd, West Hollywood, CA 90069

RSVP Directly Through Me: matt@richkidsrealestate.com or call direct: 310-699-9583 (I don’t want to burden Sally nor the Salon with calls – all of whom have been very gracious to lend their time and talent, so please call me vs. them).

*Due to overwhelming response, participants may not choose their stylist*

*Stylists will be donating time, talent, and their day off for the event, so tipping is very much appreciated by them*

The Beverly Hills Chop 5 is dedicated to the memory of the following friends and family who have left us way before their time: Meghan Sweeney, Seth Schmidt, Eileen Otto, Patrick Midget