Kyle Thorsen

It was an incredible opportunity to market this home.

@GrahamStephan @NewsLambert Dude same, I had dreams of developing owner occupied units for people my age to maybe own homes in the town I grew up in and at decent prices. Maybe I’ll do it if I get to a point where I have time for charity but it’s def not worth the headache.

I’ve spent a decade telling people to do what I do: "Buy and Hold." Now I've decided to list my entire real estate portfolio for sale and walk away. It started slow. The bills, the maintenance, the tax increases... but the final straw was when I tried to develop an ADU to do exactly what the city of LA claims it wants investors like me to do: Create more housing. You'd think they'd make it easier, but after two delayed inspections, a sewer pipe replacement that needed 75 days advance notice, and a city-owned tree that became my responsibility, I'd had enough. The identity of being a real-estate guy is very hard to walk away from, trust me. For a long time, I stayed just because real estate was my "thing." It’s how I started. It’s what I’m known for. It led to every good thing in my life. But that blinded me to the fact that just because something served me in the past, it doesn't mean things haven't changed in the present. The reality of 2026 finally stripped the emotion away. My LA rentals are netting about 4-5% after the constant background noise of taxes, insurance spikes, and repairs. Meanwhile, a risk-free Treasury pays 5%. The trade-off just doesn't make sense any more. I’m reallocating to a liquid portfolio that actually lets me focus on the work I love. I published a deep dive on my Substack about the ADU nightmare that broke my patience, the exact numbers behind the exit, and where I’m moving the money next to buy back my sanity. I'll drop the link here in a bit.

@Edmagtherealtor Rough market out here.

I saw a post with like a team of 20 agents celebrating because they have 7 escrows open. I’m flabbergasted to be bragging about that.

LA housing policy is like a controlled demolition project. Put your capital to work anywhere else.

ISO a structural engineer that can design for a gym interior.

@LA_Multi_Fam Maybe there is a hole in the floor?

These are MLS listing photos! Do owners not check how their units are being marketed?

@JMGregorchuk Essentially the juice isn’t worth the squeeze. My borrowing rate is too high (no track record), city is too difficult, I risk lawsuits. Basicly it’s not a newbie game too many land mines.

@ClassicPropGrp What reasons are they telling you?

Talked to a friend who owns a construction company that contracts with Amgen. Told him about my multifamily projects, his advice was to push them to approval then sell them. This has been pretty much every pros advice. Why?

@g_leichtfuss Close, Thousand Oaks (Ventura County)

@ClassicPropGrp City of LA?

@jonbrooks They did the math and don’t plan on moving. They are deducting mortgage interest from taxable income and by year 5 they are gaining ~30% equity per payment and year 10 about ~40% goes to equity per payment.

Just did the math on an “investment property.” Rent: $2,150 Mortgage today: ~$2,950 And that’s before closing costs. Why would anyone buy it when they can rent it for less?

@jonbrooks This chart just shows me incomes are going down over time.

This pretty much sums it up. Houses. Are. Overpriced.

Found it for $169 a slab. Cheaper than before.

Looking for prefab quartz/granite in Thousand Oaks. Anyone have an installer/place to get it? My guys in Oxnard no longer doing it.

@FairweatherPhD Sarah Baker an economist at the Federal Reserve Bank of Philadelphia says renters should be defenders. She found “strong evidence that landlords faced with quasi- random, building-level property tax shocks pass through $0.50–$0.89 per $1 of the property tax shock to renters”

Are there any Prop 13 defenders that aren't California homeowners?

Imagine thinking prop 13 doesn’t save you money as a renter.

@jonbrooks Those are rookie numbers

At what % does it become a bubble?

@JMGregorchuk @amisraelhigh Makes sense, it’s a lot of working age younger families vs retirees like we have in Thousand Oaks.

@amisraelhigh City of Moorpark doesnt have many anymore, I think it's just because we're small, safe, beautiful, and super close to massive job centers

Did you know Moorpark, CA has the highest median Income out of all the cities inside Ventura County?

@theficouple Not nessicarily, you can easily control about 750k in stocks with 50k in an account and pay no interest on it unlike RE.

$50,000 into index funds = $50,000 invested. $50,000 in rental property = control a ~$500,000 asset. If your index funds grow by 10%, you gain ~$5,000. If your rental property grows by 5% you gain ~$25,000. We like both but real estate builds wealth faster.

Owning gold and silver is cool but have you ever purchased land with mineral rights in Nor Cal off eBay?

@theficouple Because it’s not included in accredited investor net worth by the SEC.

Will never understand why people don't include a home in their net-worth. If the home is worth $550,000 and you owe $200,000 that $350,000 absolutely goes to your net-worth. What am I missing!?

@BoomerDivvies What rate am I borrowing and how much?

What’s better: a $200k income, or a $90k income and a paid off house? How gutsy are you, which would you rather have? Which one is better? This may well define your financial personality.