We’re in the diligence process on an interesting, mid-size project in Silver Lake.
The units are pretty great. But there are a load of shitheads who hang out in front of the building drinking beer all afternoon, every day. Periodically, we drive by and see one or more of them zooted on something much stronger than beer and, judging from the general goings-on over there, it’s probably bath salts or PCP.
Anyway, it’s totally insane that this one block has people like that living on it, littering, intimidating passers-by, pissing on the trees, etc. This should be a premium area and instead it’s a little pocket of social-breakdown in otherwise-rapidly-gentrifying Silver Lake.
Anyway, suffice it to say that, if we do end up buying this thing, those guys are going to end up living somewhere else. I don’t mean that as some kind of macho boast. It’s just a fact that we don’t run those kinds of properties (at least, they don’t stay like that for long after we buy them).
In our business, we’re never going to get nice things written about us in the newspaper or “thank you” notes from the neighbors, but if we do this project, I guarantee we’ll do more to improve the lives of the neighbors than any government or non-profit ever has.