Does Donald Sterling own lots of RE in the Wilshire District

[Forever Blue]

Maybe they don't, but you mean to tell me not one black person lives on any of his properties?! Well, if he informed his buidling managers not to lease to them, which is an outrage, then I guess so.

By the way, his ex-mistress definitely looks half black herself, is she not?

[jm1982]

I'm pretty sure he has at least one black tenant in his properties.

For the housing discrimination lawsuit , it sounds like he paid millions to settle, but never admitted to doing it.

I remember listening to this podcast about fair housing on NPR This American Life.
They actually had people going to apartment buildings and trying to rent an apartment from the manager.
The people were actors pretending like they wanted an apartment. There were managers that acted like a unit wasn't available when a black tenant inquired about it , but then would tell a nonblack it was available,etc.

House Rules | This American Life

Wonder if they did this same type of thing with Sterling .

I would think after that lawsuit if he was doing that type of thing that he would have learned his lesson.

[majoun]

Originally Posted by Forever Blue

Maybe they don't, but you mean to tell me not one black person lives on any of his properties?! Well, if he informed his buidling managers not to lease to them, which is an outrage, then I guess so.

By the way, his ex-mistress definitely looks half black herself, is she not?

She is.

Don't think there are too many black tenants in Sterling properties.

Interesting that few of his buildings are south of the 10 - and his buildings that are south of the 10 are in Santa Monica and Mar Vista.

[munchitup]

Originally Posted by jm1982

I'm pretty sure he has at least one black tenant in his properties.

For the housing discrimination lawsuit , it sounds like he paid millions to settle, but never admitted to doing it.

I remember listening to this podcast about fair housing on NPR This American Life.
They actually had people going to apartment buildings and trying to rent an apartment from the manager.
The people were actors pretending like they wanted an apartment. There were managers that acted like a unit wasn't available when a black tenant inquired about it , but then would tell a nonblack it was available,etc.

House Rules | This American Life

Wonder if they did this same type of thing with Sterling .

I would think after that lawsuit if he was doing that type of thing that he would have learned his lesson.

Funny, I heard that program too.

[jm1982]

Originally Posted by majoun

She is.

Don't think there are too many black tenants in Sterling properties.

Interesting that few of his buildings are south of the 10 - and his buildings that are south of the 10 are in Santa Monica and Mar Vista.

He was an attorney and bought his first investment property in Beverly Hills .

A lot of investors like having their properties close together because it makes it easier to manage.

Also he's in his 80s so if you think back to his early days of investing prices even in nice areas like Beverly Hills and Santa Monica were not as inflated .

Nowadays even if you buy a place in a marginal area it's hard to make the numbers work on rentals.

You need to go to Palmdale or Lancaster to get cash flow or maybe even further out these days .

Lots of investors that want cash flow have to go out of state to get it today .

If Sterling were starting out today I doubt he would buy properties in Beverly Hills or Santa Monica as rentals , he'd probably be looking a lot further out or outta state . Otherwise he'd probably be a flipper in LA or get into development deals .

Even if you think the guy is scum he is a smart investor and he actually focused and held buildings for the long term .

I'm sure a lot of people that were his contemporaries that had more money than he did at the time didn't see the same opportunity .

[jm1982]

On a side note , spoke to my dad today and we were talking about Sterling , he said he used to see him around town back in the day and he said he was kind of a crazy guy, sounds like he liked to go out quite a bit and chase women's and he had a bodyguard around him , he said sterling had called him a couple times too .

[NJ Brazen_3133]

Originally Posted by jm1982

For those interested in Sterling's holdings , pretty interesting

The Revealing Map of Donald Sterling's 162 LA Properties - Curbed Maps - Curbed LA

You can imagine what these buildings are worth ,especially since a lot of them are in prime areas like Beverly Hills, and they are all pretty large.


It is pretty impressive, it would be interesting to know if he is still buying at these prices. I'm sure he bought most of his properties when properties were much lower of course .

But you can imagine with so many rents coming in and a lot of the properties likely being paid off (no mortgage)

He could be buying new properties all the time if he wanted to.

From that map, it seems like Donald Sterling is indeed a major player in the Wilshire district. His holdings are split between wilshire, beverly hills, santa monica, and sprinkles somewhere.

[silverkris]

Originally Posted by jm1982

He was an attorney and bought his first investment property in Beverly Hills .

A lot of investors like having their properties close together because it makes it easier to manage.

Also he's in his 80s so if you think back to his early days of investing prices even in nice areas like Beverly Hills and Santa Monica were not as inflated .

Nowadays even if you buy a place in a marginal area it's hard to make the numbers work on rentals.

You need to go to Palmdale or Lancaster to get cash flow or maybe even further out these days .

Lots of investors that want cash flow have to go out of state to get it today .

If Sterling were starting out today I doubt he would buy properties in Beverly Hills or Santa Monica as rentals , he'd probably be looking a lot further out or outta state . Otherwise he'd probably be a flipper in LA or get into development deals .

Even if you think the guy is scum he is a smart investor and he actually focused and held buildings for the long term .

I'm sure a lot of people that were his contemporaries that had more money than he did at the time didn't see the same opportunity .

Yes. Sterling started out as a personal injury lawyer - working many small cases of low dollar value. He saved his money and invested it in real estate, a little at a time, and built up his holdings - so he became fantastically wealthy in time. So he is really a self-made man from humble beginnings.

Because he wasn't from the elite, I'm guessing he had a real chip on his shoulder, even after he got rich. He's been known to buy up lots of ads in the LA Times, and do a lot of philanthropy to show he's arrived. The flip side of it is that the charitable giving can be seen as to cleanse his public image (such as the lawsuits on housing discrimination).

[jm1982]

Yeah it seems kind of questionable the amount he gives, but on the other hand of course people will always could say he doesn't give enough
Sterling foundation ads tout good works, but verifying them isn't easy*-*Los Angeles Times

I grew up in L.A and always saw those ads, they looked pretty cheesy..I guess they got the point across..or he thought they did..

Some examples,
http://barstoolu.barstoolsports.com/...7.06.42-PM.png

http://assets.adamriff.com/images/donald_sterling-4.jpg

http://4.bp.blogspot.com/-EBDXc_fAb6...0/sterling.JPG