Why would I sell?

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“Do you have anything in your portfolio that you’re considering selling?”

I get that question at the end of almost every conversation I have with a broker.

And it makes sense, right? You don’t get business without asking for it.

But the answer is, most assuredly, “No, and I probably won’t sell ever again.”

Once you have a beautifully renovated apartment building in an improving part of LA, you really need to be pretty dumb to sell it (I know; I sold 12 of them in 2011-2012 and want to slam my face into my desk every time I think about it).

Why?

Because of demographic trends and restrictive zoning, rents and values in LA are a good bet to grow at a rate which is in excess of inflation for the foreseeable future.

As long as I like my yields (and I like them very much!), why would I sell?

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