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Old 04-15-2016, 05:31 PM
 
Location: West Hollywood
3,196 posts, read 2,358,239 times
Reputation: 5262

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Quote:
Originally Posted by NOIGUY View Post
They've really backed off the Kelo decision, though. I wouldn't be surprised if another case went to the supreme court it would go the other way.
Not if Obama's nominee gets Scalia's seat.
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Old 04-15-2016, 05:54 PM
 
Location: Business ethics is an oxymoron.
1,675 posts, read 2,084,500 times
Reputation: 3272
Meh. It's pretty clear that some posters in this discussion have a glaring "you have it....I don't.....I want it....I want to find a way to take it" mentality.

-These same people....you know gawd-damn well that if the shoe was on the other foot-they would fight tooth and nail to preserve what they rightfully paid for and earned. It's total 'have-versus have-not" envy at its finest. I don't blame the incumbent population one bit for not only closing the door, but slamming it shut to the likes of some people in this discussion.

Not everybody gets-or deserves-a house/condo/whatever at, on, or near the beach.

-Including some of you. Your argument has nothing to do with efficient land use, ease of mobility, fairness, or affordability. You are desperately grasping at straws looking to get your hands on something you want but neither deserve nor can you afford it. And you resent it. You're trying to make your out of reach tastes and lack of financial means someone elses problem.

We all see through that ruse.

Period.

If it's that important to you, then you find a way to pony up the dough and pay what it's worth. Or come up with a suitable plan B including an alternate location, climate, or geographic setting.

Don't think for a second that you're going to confiscate it through legislation.

It ain't happening bud. Not here. Get THAT idea out of your head now.
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Old 04-15-2016, 06:22 PM
 
234 posts, read 135,157 times
Reputation: 124
Quote:
Originally Posted by Des-Lab View Post
Meh. It's pretty clear that some posters in this discussion have a glaring "you have it....I don't.....I want it....I want to find a way to take it" mentality.

-These same people....you know gawd-damn well that if the shoe was on the other foot-they would fight tooth and nail to preserve what they rightfully paid for and earned. It's total 'have-versus have-not" envy at its finest. I don't blame the incumbent population one bit for not only closing the door, but slamming it shut to the likes of some people in this discussion.

Not everybody gets-or deserves-a house/condo/whatever at, on, or near the beach.

-Including some of you. Your argument has nothing to do with efficient land use, ease of mobility, fairness, or affordability. You are desperately grasping at straws looking to get your hands on something you want but neither deserve nor can you afford it. And you resent it. You're trying to make your out of reach tastes and lack of financial means someone elses problem.

We all see through that ruse.

Period.

If it's that important to you, then you find a way to pony up the dough and pay what it's worth. Or come up with a suitable plan B including an alternate location, climate, or geographic setting.

Don't think for a second that you're going to confiscate it through legislation.

It ain't happening bud. Not here. Get THAT idea out of your head now.
I 100% agree with this. Nobody DESERVES to own a $3 M house by the beach. You want one? Go earn the $ required. Or marry it.
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Old 04-15-2016, 06:23 PM
 
234 posts, read 135,157 times
Reputation: 124
Quote:
Originally Posted by MordinSolus View Post
Not if Obama's nominee gets Scalia's seat.
I'm not counting any chickens before they hatch.
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Old 04-15-2016, 08:46 PM
 
Location: Nevada side of Lake Tahoe
4,934 posts, read 2,969,991 times
Reputation: 3188
Unless you're an actor, model, screenwriter, film producer, film director, or novelist, there's no way you'd be able to afford Los Angeles, even if the rent continues to rise.
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Old 04-15-2016, 08:53 PM
 
234 posts, read 135,157 times
Reputation: 124
Quote:
Originally Posted by Kevdawgg View Post
Unless you're an actor, model, screenwriter, film producer, film director, or novelist, there's no way you'd be able to afford Los Angeles, even if the rent continues to rise.


http://laedc.org/wp-content/uploads/...sters-2012.pdf
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Old 04-15-2016, 10:53 PM
 
Location: Los Angeles
4,785 posts, read 6,946,129 times
Reputation: 6394
A lot of the high rent can be traced to good old fashion american greed.
The laws of supply and demand dictate most rents.
As a landlord, I am about as far from being a greedy landlord as one can get.
I am not blowing my own horn, but I think I am more than fair when it comes to rent.

I have property in the northeast section of the city,in a very desirable location, and they rent for $800-900. a month. (all one bedroom detached houses)
Clean and well maintained, with off street parking, and laundry facilities in each house.


One factor that obviously helps in keeping my rents affordable is, the houses carry no mortgage.
I have all the other expenses associated with rental property, but never pass those cost on to my tenants.
That is one reason my tenants stay for years.

I never felt the need to be greedy like many landlords are.
Capital improvements (and there have been some over the years costing thousands) has always been on my dime, without one cent coming from my tenants.

Rents are stable in that once a tenant moves in, there rent will never be raised, unless they bring another tenant in at a later time.
For my business this has worked fantastically well over the years, and I see no need to change my policies.

So while the rest of Southern California basks in the glow of enormous rent increases, I do very well just where I am financially.

Many years ago, when I started this business, I told myself, "the tenants come first", and I still live by that rule today, for without tenants, I would be out of business.
The flip side of this coin is, greed, greed, greed, by owners and property management companies.

Bob.
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Old 04-15-2016, 11:30 PM
 
Location: somewhere
198 posts, read 138,939 times
Reputation: 169
Quote:
Originally Posted by Dontworryboutit View Post
Okay what I meant to say was that there was no good COMMUNITY colleges around Boston, at least commuter wise. BHCC sucks and is clearly overpopulated. Middlesex and North Shore, even Mass Bay I heard were great but all those need cars to get to.
Former Bostonian here now in LA......stay in Mass...I know its changed quite a bit but you will miss it when you leave....try the UMass system if you are going to college.
I know Boston rents are high....but I still think Mass has more to offer...
What did you say, all those you need cars to get to?? Is that what you meant, no where in the country do you need a car as much as in Los Angeles.

Sorry if I do not know details of your post.....I love Boston, ,,,if you think Community colleges are crowded there they are worst here....
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Old 04-16-2016, 11:27 AM
 
Location: Los Angeles (Native)
24,255 posts, read 13,743,415 times
Reputation: 11423
CALGUY , it sounds like you are a good landlord.

As you mentioned the main reason you can keep rents low is because you don't have a mortgage.
If you bought another building in the area today at today's prices you would probably have to charge considerably more for rent or you would be losing money.
People that have owned their properties for a long time and have them paid off have a good advantage over newer landlords.
They can offer even below market rents and still make a profit.
At your prices you are going to have no issue of course rerenting if you need to, so there is probably hardly any vacancy time.

Just curious, what is the market rate for those same units?
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Old 04-16-2016, 11:46 AM
 
Location: Business ethics is an oxymoron.
1,675 posts, read 2,084,500 times
Reputation: 3272
Why keep rents low and trash the market if you don't have to?

If you aren't carrying a mortgage on the property, but can still tack on the difference because that's what comparable units are going for, then that's just leaving money on the table. Raise the rents and boost your profits. As long as people are willing to pay it.

I mean it is yours and you are free to price as you see fit. But....

Why charge $1500 if the market dictates that you can get $2000?
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