My folks are planning to begin spending ~6 months per year in LA. I’ve therefore been looking into suitable rentals and condos. My parents are among the oldest Boomers. Like many of their generation, they’ve accumulated a decent amount of wealth through hard work and frugal living. Now, they want to spend time in LA.
“Hey Jacob. What did we get for the last 2/1 we rented at X?” I think I ask that question of Jacob, who runs our management business, 4-5 times per week. Why? Because we’re constantly recycling the market information we glean from leasing back into our acquisitions underwriting. The go/no go decision on each deal is
Have been doing some more thinking about homelessness in LA and want to share an idea. Let’s assume that LA accepts responsibility to house anyone within its borders who finds himself without a home. In a perfect world, where the city had unlimited money and land, the simplest solution would be to build housing for these
Yesterday, the LA City Council declared a “state of emergency” regarding homelessness and pledged to spend $100MM to help ameliorate the problem. As you might imagine, I have plenty to say about how the city handles homelessness in general and about this plan in particular. But today I want to focus on one particular aspect
“What happens to you guys in a down-turn?” A contractor with whom we do a LOT of business asked us this question yesterday. He’s concerned, because he’s basically given up working with anyone else in order to handle the volume we’re sending his way. (Incidentally, he’s not the only one: We have three contractors now