All Forum Posts by: Francis A.

@Ben Leybovich

Why not Kadiz?? Your humor will get you far in this world. 

I just got through a stressful conversation about buying property in Los Angeles and then signed on to Biggerpockets and immediately proceeded to choke on my leftover pastrami sandwich from the world famous Langer's deli.

Elon Musk is on his way to pretty much solving the electric car problem. I am sure someone in California is eyeing the water problem (hello reduced desalinization costs) as a business bonanza. 

"California’s economy benefits from diversity and job growth that has expanded beyond the tech industry in recent years, said Steve Levy, director of the Center for Continuing Study of the California Economy"

http://www.washingtonpost.com/blogs/govbeat/wp/201...

I just got back from the mid west. My target duplexes had been snapped up. Bummer. Prices in your neck of the woods are nice no doubt, but there is something about the sunshine in California... I'm sure you can finish my thoughts. 

I'll save a spot here for you! 

Cheers! ;-)

Does anyone own/rent rooms or a house to University of Southern California students? Kindly add me to your contact list.  Please and thank you!!

Here are updates on 90 projects going on.  This will be quite interesting to LA landlords in general and especially the ones either the process of buying or those who already own in the surrounding areas.

This newsletter is also a good way of keeping up with the goings on as LA downtown spirals outwards.

http://www.ladowntownnews.com/development/downtown-development-updates-on-projects/article_6886af8a-fb4a-11e4-80e3-f76f86390038.html

@Account Closed  Brooklyn might be more than "part of downtown". The prices are reaching Manhattan prices. Once again I shake my head.  Red Hook was a fearsome place back in the mid nineties. Today art galleries abound. My brother in law lives in Fort Green. Converse has a now famous recording studio there. Forget about Park Slope. Rents through the Wazoo! AND for what it's worth (and it's worth something) Brooklyn is hipper than Manhattan can ever hope to be.  Amazing. 

http://www.nytimes.com/2014/12/04/style/the-brookl...

http://www.wsj.com/articles/brooklyn-the-brand-141...

http://tmagazine.blogs.nytimes.com/2013/03/17/broo...

@Account Closed 

I was still living in NYC when Mayor Guilliani literally swept Manhattan clean of its homeless population - in one fell swoop. It literally took about a week or two and it was DONE. People kvetched and moaned about cruelty but Mayor Guilliani wasn't swayed. The mantra was speak up and be shipping back to your home state or else...

Regarding Los Angeles,  when I first moved to LA, downtown at night looked like a dystopian / Mad Max type movie set. I drive through there at least twice a month out of sheer curiosity every time I go to Little Tokyo - just to eye ball the transition.

Those homeless encampments in downtown LA are (without sounding insensitive) are living on borrowed time.  ALL those buildings with exception of a few like the Weingart foundation will be reclaimed. You can bet my last dollar on that. I'm still in total disbelief at the ongoing transformation. 

I have friends who visit from out of state once every two years. When they first started to visit Los Angeles 15+ years ago, they would stay at that "interesting" Hostel on S. Grand between 8th & 9th that has the great hole in the wall Indian restaurant on the ground floor - Gill Indian restaurant. Every time this couple visits, they're even more floored by what has happened. Maybe there is, but I'm not sure there is another city in the US that has had its downtown explode in the manner that downtown LA has exploded in such a relatively short time. 

An acquaintance who works in the area once told me that cops can arrest any homeless person loitering north of 7th Street(?). Well...

Anyway, I don't think the City of LA has enough money to pay the man who ( I believe) has to be credited for starting it all this economic activity when he built the Staples Center -  Phil Anschutz! :-)

@Jon Huber You're right. It's pretty much over in terms of "affordable". I know at least two companies that work in buildings around Olive and 9th that are going to have to relocate because the rents (when they come up for renewal) are going to be unspeakable.  The upside is that you can still buy duplexes for around $400,000 just 15 minutes away (south of the 10 freeway) but that will also change shortly. 

Another interesting Los Angeles RE article. 

http://www.ladowntownnews.com/news/the-rising-pric...

Interesting article dated - (4.23.2015)

https://homes.yahoo.com/news/cost-housing-soars-high-161000736.html

@Jon Huber Congratulations pal!

Interesting article offering yet another view of the housing market moving forward.

http://www.bloomberg.com/news/articles/2015-03-31/this-new-indicator-shows-there-s-no-bubble-forming-in-u-s-housing?cmpid=BBD033115