Santa Monica or Texas

[Scott Malkin]

Should we stay or should we go now? Or both? We have a 10 unit apt building that has been in the family for decades and thus unencumbered. Located in Santa Monica with all the wonderful things that go along with such an ideal location- beaches, eternal sunshine, hipsters, rent control, deferred maintenance and high price/rent ratios.

So, should we sell the building and buy better-performing property in a growth area/ landlord friendly / high (property) tax area such as Texas (Dallas-Fort Worth, Austin, San Antonio)? Or, perhaps, do both; that is, stay in Santa Monica, pull some equity out and move it to Texas?....

Looking forward to the responses.