Brock's newsletter | SEPTEMBER 29, 2023
What Everyone is Talking About at this Investing Conference.
I'm at a real estate conference in Santa Monica. The content is great and a bit above my pay-grade. Lots of guys here who do own huge apartment buildings, self-storage, mobile homes, construction companies, etc.
But I listen closely because real estate is a fractal business. The tiny, lower levels are identical to the massive, upper levels. And the important parts are the same: down payment, cash flow, value-add, etc. So lots to learn.
So, what is everyone talking about? You guessed it: Rising interest rates. Fixed interest rates (i.e. 30-year and 15-year loans) are not available in commercial real estate. These guys are sweating. The monthly cost of what everyone at this conference own is going up, now or soon.
So yet again I am struck by what an insanely good investment a single-family home is, for the simple reason that your biggest cost of ownership (your mortgage payment) never goes up. In fact, factoring inflation, it goes down. *You can also get a fixed rate on income property up to four units,
Tell your kids:
the biggest expense of your life is not taxes. It's interest.
And the most expensive thing you'll ever buy is a house. To be able to fix the interest cost of that thing for 30 years (and lower it when you can!), makes houses, to me, the best investment you can ever make.
They should ask me to be on a panel next year…
This Weekend's Must-See Open Houses (
text us for private showings
620 N Cherokee, Hancock Park
Rare Hancock Park opportunity, this architectural pedigree colonial revival has a lot to offer, including a pool - Listed at $2,889,000 - Open Saturday & Sunday 2-5pm
753 N Michigan Ave, Pasadena
Meticulously restored 1910 Crafstman GEM in Bungalow Heaven - Listed at $1,495,000 - Open Saturday 11-2pm
4808 Bonvue Ave, Los Feliz
Anyone in the market for a 10 Million 1924 Spanish Colonial with architectural significance and the most gorgeous woodworking? Neither are we, but it's a must see. - Listed at $9,995,000 - Open Sunday 2-5pm
Until next Friday,
-Brock & Lori
P.S. Our back house is for rent. $3,750, huge 1-bed stand-alone ADU above the blvd in Los Feliz. Pets okay. If you know anyone!
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The Gorgeous Homes We're Selling…
2269 Meadowvale, Frogtown
6 BED | 4 BATH
2,268 SQ. FT.
LISTED for $1,849,000
* Open Sunday 2-4pm
4144 Tracy Street
3 BED | 2 BATH
1,712 SQ. FT.
LISTED FOR $1,849,000
5 BED | 8 BATH
7,515 SQ. FT.
LISTING AT $$5,995,000
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3020 Sunset Boulevard
Los Angeles, CA 90026, United States
Brock and Lori Harris Real Estate Team
Keller Williams Los Feliz DRE#01430290 | Brock Harris DRE#01328996 | Lori Harris DRE#02132297