I’m under contract on a 9 unit apartment building in Los Angeles! This is my third one this year with my partners @sbizzy57@sanjeevbla & Moris.
For people who are worried about the housing market being too high right now, remember that rents are rising just as much. In LA there is rent control in most cases, but that also makes it so you can’t move as rents rise around you.
If you are AT ALL in a position to buy (aka a chunk for down payment, even if small, and steady income) I would advise to at least get pre-qualified and dig into the possibility.
Unfortunately, when you are a renter you don’t control your fate. I know it’s complicated — I was a renter AND a landlord simultaneously until very recently — but the long-term equity and wealth building that is denied to renters is real and has compound effects generationally.
This is why I help clients BUY property to start building equity with their monthly housing payment, and I also personally invest my OWN money in apartment buildings.
There are obvious barriers to entry in buying real estate that are deeply and historically inequitable, and so there will always be rental housing.
Rentals aren’t going away, which is why I think apartment buildings are such a great investment. I hope our small piece of impact in the market can be being ethical landlords as we scale.
I’m on the financial freedom track, so I continue to invest in assets that pay me regular income — like real estate — versus just stocks or crypto (though I play with those too).
Any kind of investing requires ownership, which can feel like a scary leap for social justice minded folks. That’s why I commit 5% of all my income from real estate to racial and social justice work.
It’s just one way that I justify investing in what has been a historically marginalizing industry, while also moving toward my own financial freedom goals.
Can’t wait to close on this apartment next month, which will bring me to 26 units here in Los Angeles!
#buyahouseinLA#apartments#losangeles#losangelesrealestate#multifamily#realestate#LMEinvestments#financialfreedom#FIRE@wsj