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flu

In the early years, our tenants ran the full gamut of professionals, with minimum 1-year leases, but for the last several years, we’ve tried to stabilize things even further by trying to only rent to people with whom we have some connection, and whom we feel will stay long-term.

Two of the homes are rented to young retirees from the east coast who wanted to live in the area without making long-term investments–a friends of friends situation. They have, however, signed long leases, and we think they’ll be with us for a long time. They’ve even talked to us about having their kids rent from us in the future when they relocate out here.

Other homes are rented to extended family members who are stable, working, and are happy to be raising their families in the area. We think they, and/or their kids will also most likely be with us for a very long time. We do still have some other properties rented to other professionals–again, who are friends of friends.

I know this scenario isn’t possible for everyone who owns rental property, but over the years, it has worked out well for us, and we feel it has also worked out very well for our tenants.

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flu

Talking $4000-$4400 right now for that size home.

We just happened to be at the right place and the right time, and were in a position to do something. These homes were all purchased prior to 2000.

As sharp as you are, I have no doubt that you’d be in my position if you were my age–about 20 years older. Even at that, from what you’ve shared, I’m sure you’ll do just fine–give it time.

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flu

As I know I’ve mentioned before, we have quite a few rentals in CV. For the 2800SF SF type home you mentioned, we’re seeing our going rate up to the $4K+ range, so your example may be an exception, but, hey, they can try.

Looking at the photos, I’d guess the house you mentioned is probably in the San Remo development, near the Del Mar Highlands area.

With demand the way it is, anything is possible. If this flies, it will set a whole new standard–even for CV. If things continue as they are, we’ll probably be looking at some upward adjustments in the future.

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Interesting, Allan. I’m sure you’d have many stories to tell in this regard.

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Have several rentals in CV built by Baldwin and Pardee, and others in other locations by various builders around town, and we’ve had to have quite a bit of work done on all of them. (Should clarify these are older homes that we purchased 20+ years ago. I’m sure the newer homes in CV are much better constructed, and that this has just been our personal experience.)

All are in great locations, but the workmanship leaves much to be desired. Our primary is custom, so that’s really a different story.

Have always heard good things about Toll and Davidson. Have been hearing good things from friends about McCullough lately, but don’t know much about them.

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Interesting reason for the OP. Never would have realized that.

Also, I understand the thoughts shared with regard to bragging on this board. I honestly don’t think many of us really intend to brag, but are just sharing the real aspects of our lives that may apply to any given thread–at least that’s my intention.

I realize OT can become OOOOOT, as this thread did, going from basketball to the French wine country, and everything else in between, but that’s a Pigg for ya!

Many people on this board have lived and are living exceptionally interesting lives, and I really enjoy hearing about their experiences–whatever that’s called–and I hope it will continue!!

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Believe Rivers lives in Santaluz.

We often see him and his family at restaurants in RSF, DM and CV. Lots of others around these hoods as well. Same with entertainment folks.

Guess we all chose the right place to live!

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All this talk of Europe, makes us long for it even more. We’re there every year, and can never wait to see our old friends.

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Brian,

Would love to try to help your relative out, but our kids have “banned” us from making referrals. They’ve told us they have enough friends from college driving them nuts with audition requests, but I wish your relative all of the best. Do encourage him to have a “backup” plan.

Really enjoyed your story about your relative in Cognac. Gotta love the French wine country.

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Interesting stuff on the San Diego sports and entertainment front. Same story with our friends and neighbors in RSF.

All of the locations mentioned are exceptional environments in which to raise kids, that’s why it’s so unbelievable that the stats reveal only 1-2% of these kids actually achieve their dreams in sports, entertainment, etc., and that’s what’s shocking. It’s definitely not for lack of effort on the part of the parents.

Two of our kids have great careers on the corporate side of the entertainment business. They interact with “stars” everyday, but on the other end of the spectrum, they also see a side to the business that is heartbreaking.

Families move to LA or NYC from all over the world for a kid to get their chance in film, theater, music, modeling, etc., etc., but when they get to the “big leagues” sometimes, in less than a year or even a day, it’s over for them.

To add a true story. We were all recently at a very famous persons home in Malibu for a party, and an entire family tried to crash it to get their kid an audition for an upcoming movie role. Apparently, an agent had already given them a thumbs down, but they were determined. Unfortunately it did not work out well.

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Interesting you should mention this about our culture, Brian.

My wife and I were having this exact discussion the other day. Because of her writing career, she does a tremendous amount of reading and research, and she found some staggering statistics on the fantasy world in which today’s parents are encouraging their kids to live–whether it be sports, music, modeling, or any other “star-making” premise.

I agree that the TV shows that inhabit the tube are probably most responsible for creating this cultural phenomenon.

The less than 1% who achieve any of these goals will leave the other 99% more than a little let down, and it’s really sad to see so many people buying into this.

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Excellent post, Brian.

As a country, we really do “appear” to have it all–and on many levels we do–but there are some very deep cracks in our armour, and only time will tell if those can be repaired before we completely disintegrate.

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Very good points, Jazzman. Your point about food choice being a class issue is especially interesting. How astute of the fast food chains to capitalize upon that.

My wife is currently working on another screenplay (her 2nd career), and whenever she is doing research via travel, we prefer to immerse ourselves in the roots of the particular culture she is researching, so we try to avoid the “Americanized” element of any particular country. Besides, it’s just very boring to see more of what we can see at home.

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My wife went to school in France, and we’ve spent a lot of time in that country, in England and, others.

I have to agree, the “feeling” you get, especially in the cities, is that of the development of a very “Americanized” society. It’s been sad to see the “old world” charm all but disappear from many countries around the world.

That’s why we prefer staying out in the country with friends whenever we can to escape that, and to immerse ourselves in the “real deal.”

As far as the basketball team goes–it should be interesting.

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Yes, very interesting article, AN. Have been reading much of the same.

Having owned investment properties for 20+ years, it’s very interesting now to sit on the sidelines and watch this new phase of real estate investment unfold.

As the article mentioned, I guess only time will tell how it all plays out from here.

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