A recent L.A. Times article talked about 7 steps that those in their 30’s should take. In my opinion, the most important step was #4, Start Investing Now. If you read the description of how your capital can grow you will understand how real estate investing can create wealth so fast. It’s a combination of leaving your money in the investment and letting it grow over time.
Just when you thought things were getting better, the hammer drops. The Washington Post reported, “One of the nation’s largest multi-employer pension funds said that it is out of ideas for ways to save itself from an impending failure.” Later in that story, they added that the federal insurance fund that the fund would normally turn to for a lifeline is also expected to run out of money!
More exciting developments are in the works for Downtown Long Beach. According to a recent article in the Los Angeles Business Journal, a joint venture between Santa Monica's Ocean West Capital Partners and Chicago's Singerman Real Estate has purchased a 210,281-square-foot office and retail center in the heart of Downtown at the intersection of Broadway and Pine Ave. The buyers plan to convert the property into "The preeminent creative office campus within Long Beach".
Great news for apartment owners, according to a recent study done by USC. They are projecting that rents in LA County will be up by 8.3% in 2018 over last year. There are permits for more than 38,000 units on the books, but according to the LA Times story, most of that new supply is on the pricey end.
The Orange County Register April 3, 2016
According to this recent story many of the large builders are starting to cater to renters of single family homes. Not only are they building homes to rent they are also building larger apartment complexes. Lennar the No. 2 U.S. builder has just completed a 200 unit in Fullerton and has 26 more projects in the pipeline in other places in the US. Tim Kane the president of of MBK Homes said, "Apartments are very stable."