Artist Housing manages a chain of co-living residences for young film and music artists in Los Angeles. It was the largest of its kind in DTLA, larger than any hostel or bed and bath in the downtown of the second largest city in the US. Our flagship property is a block away from the tallest building on the West Coast.
BUSINESS MODEL
Our business is unique. As of very recently we were the only company specifically looking to purchase/lease large commercial properties to change the use to residential, then sublease the spaces for co-living. What makes our business even more unique is that it pertains to a specific market of primarily younger film and music industry artists by which we include additional shared amenities such as film production studios, sound recording rooms, band rehearsal space, and the list goes on. Amenities to be included depend on the specific property, but we try to pack as many incentives as possible to make the shared living fun and productive. We sell a very unique co-living community to young folks pursuing their aspirations in film and music.
They create real-life money making film and music projects together by simply providing tenants the resources and each other. Its a side benefit to watch them fly in from all over the world to jump-start their careers with us.
The available resources and network we provide can be pitched to a wide array of markets such as entrepreneurial and good way network, promote ideas, inventions, businesses, etc. We provide state-of-the-art work facilities like tech media offices such as Google Campus or WeWork whose valuation soared above 16 billion recently and they do the same thing; provide workspaces on a monthly rental basis, now they are getting into adding residences at their locations like WeLive. This goes to show that it is a proven market that is currently being capitalized by the big players.
Tenant parents enjoy the fact that their children are in a safe and productive environment making friends in the real world. Millennials and many others are willing to save money to live smaller and share access to main kitchens and bathrooms. This concept of co-living can be adapted not just for artists, but any subgroup of people, such as elderly in Miami with shared amenities that relate to their common interests like health and leisure. This business model is simply logical as well as unique, and a new solution to affordable housing in the inner city. If you listen to the news you know there is a housing crisis for low-income people, such as young millennials. Many people are facing housing instability today, and its expected to exponentially grow with no better logical solution. This business model can be utilized by not millions, but billions of people. The concept is affordable and savings can be passed to the end-user. It is an obvious and sustainable affordable housing solution for cities. This will disrupt the multi-trillion dollar global housing market. Artist Housing has proven this by maximizing the square footage income while providing easily the LEAST EXPENSIVE consistent housing options in central LA for over 10 years! Kind of a big deal.
BUSINESS MODEL
Our business is unique. As of very recently we were the only company specifically looking to purchase/lease large commercial properties to change the use to residential, then sublease the spaces for co-living. What makes our business even more unique is that it pertains to a specific market of primarily younger film and music industry artists by which we include additional shared amenities such as film production studios, sound recording rooms, band rehearsal space, and the list goes on. Amenities to be included depend on the specific property, but we try to pack as many incentives as possible to make the shared living fun and productive. We sell a very unique co-living community to young folks pursuing their aspirations in film and music.
They create real-life money making film and music projects together by simply providing tenants the resources and each other. Its a side benefit to watch them fly in from all over the world to jump-start their careers with us.
The available resources and network we provide can be pitched to a wide array of markets such as entrepreneurial and good way network, promote ideas, inventions, businesses, etc. We provide state-of-the-art work facilities like tech media offices such as Google Campus or WeWork whose valuation soared above 16 billion recently and they do the same thing; provide workspaces on a monthly rental basis, now they are getting into adding residences at their locations like WeLive. This goes to show that it is a proven market that is currently being capitalized by the big players.
Tenant parents enjoy the fact that their children are in a safe and productive environment making friends in the real world. Millennials and many others are willing to save money to live smaller and share access to main kitchens and bathrooms. This concept of co-living can be adapted not just for artists, but any subgroup of people, such as elderly in Miami with shared amenities that relate to their common interests like health and leisure. This business model is simply logical as well as unique, and a new solution to affordable housing in the inner city. If you listen to the news you know there is a housing crisis for low-income people, such as young millennials. Many people are facing housing instability today, and its expected to exponentially grow with no better logical solution. This business model can be utilized by not millions, but billions of people. The concept is affordable and savings can be passed to the end-user. It is an obvious and sustainable affordable housing solution for cities. This will disrupt the multi-trillion dollar global housing market. Artist Housing has proven this by maximizing the square footage income while providing easily the LEAST EXPENSIVE consistent housing options in central LA for over 10 years! Kind of a big deal.
We are a technological company based on statistics, probability, logic and reason. All buildings are and will be in the inner cities and located near vital services such as food stores, transportation, entertainment. In Los Angeles we take advantage of the Adaptive Reuse Ordinance. Shared Housing is also considered Joint Housing within the municipality standards, or Co-Living in the recent media. Los Angeles Department of Building and Safety does not have clear cut codes for this new asset class, and our Architects are able to help form new regulations based on our specific needs. Artist Housing will attempt to access community benefits and incentives for construction. Downtown Los Angeles has a lot of financial vehicles for anyone that can help provide affordable housing, to youth, in the arts, in film and music. There are a lot of sponsors in all those fields that would be willing to join if we can get a private lender to go mainstream with us. (More Info)
Founder of the company Kelvin Xuna considers this to be the future of housing in different micro and macro scales. Not to be taken lightly considering he graduated with a Master from Harvard University in Housing and Urbanization and is a Certified Risk Management Professional by the Project Management Institute.
Artist Housing is a subsidiary of Logical Real Estate, LLC. Incorporated in Miami in 2008, Logical Real Estate, LLC's track record spans over 10 years of hands-on experience in real estate management. Artist Housing is now at a point were we need to expand to absorb the growing market demand and affordable housing need.
Here are some concept photos found on Google to see the vision we have. The final product would be based on the specific property.
Founder of the company Kelvin Xuna considers this to be the future of housing in different micro and macro scales. Not to be taken lightly considering he graduated with a Master from Harvard University in Housing and Urbanization and is a Certified Risk Management Professional by the Project Management Institute.
Artist Housing is a subsidiary of Logical Real Estate, LLC. Incorporated in Miami in 2008, Logical Real Estate, LLC's track record spans over 10 years of hands-on experience in real estate management. Artist Housing is now at a point were we need to expand to absorb the growing market demand and affordable housing need.
Here are some concept photos found on Google to see the vision we have. The final product would be based on the specific property.
Because we offer month-to-month, many tenants use our property as a launch pad or stepping stone when coming from other states or countries to get a better idea of the city before signing conventional 1 year leases. Nevertheless, the majority stay long-term once they see the fun, cool and easy life style we provide them and tenancy turn-over is minimal.
COMPANY HISTORY
In 2010 we had both properties of a duplex, featuring 6 private bedrooms with views of the Hollywood sign and other nice amenities. Over the years we have had properties in Culver City, Koreatown we currently have a 7 bedroom 'Antique Mansion' on 8th and Hoover, downtown we have a retail/workshop property for tenants to utilize at 9th and Olive, as well as our flagship property, a 36 bed co-living space that served as a convent for nearly 100 years at 8th and Flower.
We are well experienced with Evictions. Very well. Dealing with teens moving away from home for their first time not able to budget. We do however work with them as much as possible on strict payment plans based on their income. Otherwise, we ask them to lease and they do. The Stanley Mosk Los Angeles Superior Court House takes about 45 days for an eviction and the deposit covers 30 of those days so we end up losing half a month's rent and some legal fees. But our infamous attorney Dennis Block's Office is the largest Landlord-Only attorney firm in Los Angeles and offers great economical prices.
SETBACKS
We are prepared for setbacks and have created many exit strategies. In 2015 one particular eviction didn't go as planned. We had a professional 'Landlord Extorter' who would research properties then move into them to sue in order to extort the landlord. His diligence and persistence impressed even City Officials. It took a lot out of us replying to countless city complaints, undergo tons of inspections under tight scrutiny. We were all fully compliant with everything and everyone even the Department of Building and Safety.
The property was used as a residential Convent for nearly 100 years. there are hundreds of photos and documents showing that many Arch Diocese of Los Angeles personally lived there with several other priests. Convents carry 'Type 2' residential requirements which is the exact same as a Boarding Home which we currently have. This means we should have inherited the ability to keep the standards up to "the last major construction permits" OR "floor plans stamped by the city" (Proof). We had both from 1988! (Proof) but LADBS said a loophole would not allow them to accept plans from 1988 which is just an oral decision that was forced out of them because of that one tenant whom we evicted for fraudulent activities. And the city should have known prior that the church was using the building illegally since 1913? The unfair situation was blamed on LADBS for their oversight on all 1988 - 1992 stamped plans for earthquake retrofits that were not revised to be in accordance with their own building codes. They said, "its like the paperwork never existed." But that was water under the bridge to them and if we wanted to stay open we would need to rectify it. The city Tax as well as the Assessors Office both knew and collected fees for the housing for almost a century! We didn't have the resources to try at court anymore. So after years in court the property was to be considered like if it was never used as a convent and in order to not be shut down we had to spend over $137,000 on renovations that brought it to the current code standards. It took a year and a half of construction and more than $42,000 just towards the tenants eviction.
Farmers Insurance was supposed to cover part of it then found a way out of it. Founder Kelvin Xuna had to pay all these unexpected expenses out of his and the new company's savings. Now we carry Errors & Omissions insurance to make sure there are no loose ends. Ultimately, all these experiences just make us wiser for the future.
Now we are unable to get traditional financing to help us grow again. On top of that, all the stress, work, money, we invested and we did not even own the properties. We make good money leasing properties that are otherwise too expensive to buy, but it would be a dream come true to own all our properties! That's the ultimate goal. Large scale industrial-sized properties in urban centers are kind of expensive for a one guy show (Kelvin Xuna), so hopefully, someone can join in Kelvin's vision and capability of piloting this business plan to open and stabilize several properties in every expensive and major city around the world.
In 2010 we had both properties of a duplex, featuring 6 private bedrooms with views of the Hollywood sign and other nice amenities. Over the years we have had properties in Culver City, Koreatown we currently have a 7 bedroom 'Antique Mansion' on 8th and Hoover, downtown we have a retail/workshop property for tenants to utilize at 9th and Olive, as well as our flagship property, a 36 bed co-living space that served as a convent for nearly 100 years at 8th and Flower.
We are well experienced with Evictions. Very well. Dealing with teens moving away from home for their first time not able to budget. We do however work with them as much as possible on strict payment plans based on their income. Otherwise, we ask them to lease and they do. The Stanley Mosk Los Angeles Superior Court House takes about 45 days for an eviction and the deposit covers 30 of those days so we end up losing half a month's rent and some legal fees. But our infamous attorney Dennis Block's Office is the largest Landlord-Only attorney firm in Los Angeles and offers great economical prices.
SETBACKS
We are prepared for setbacks and have created many exit strategies. In 2015 one particular eviction didn't go as planned. We had a professional 'Landlord Extorter' who would research properties then move into them to sue in order to extort the landlord. His diligence and persistence impressed even City Officials. It took a lot out of us replying to countless city complaints, undergo tons of inspections under tight scrutiny. We were all fully compliant with everything and everyone even the Department of Building and Safety.
The property was used as a residential Convent for nearly 100 years. there are hundreds of photos and documents showing that many Arch Diocese of Los Angeles personally lived there with several other priests. Convents carry 'Type 2' residential requirements which is the exact same as a Boarding Home which we currently have. This means we should have inherited the ability to keep the standards up to "the last major construction permits" OR "floor plans stamped by the city" (Proof). We had both from 1988! (Proof) but LADBS said a loophole would not allow them to accept plans from 1988 which is just an oral decision that was forced out of them because of that one tenant whom we evicted for fraudulent activities. And the city should have known prior that the church was using the building illegally since 1913? The unfair situation was blamed on LADBS for their oversight on all 1988 - 1992 stamped plans for earthquake retrofits that were not revised to be in accordance with their own building codes. They said, "its like the paperwork never existed." But that was water under the bridge to them and if we wanted to stay open we would need to rectify it. The city Tax as well as the Assessors Office both knew and collected fees for the housing for almost a century! We didn't have the resources to try at court anymore. So after years in court the property was to be considered like if it was never used as a convent and in order to not be shut down we had to spend over $137,000 on renovations that brought it to the current code standards. It took a year and a half of construction and more than $42,000 just towards the tenants eviction.
Farmers Insurance was supposed to cover part of it then found a way out of it. Founder Kelvin Xuna had to pay all these unexpected expenses out of his and the new company's savings. Now we carry Errors & Omissions insurance to make sure there are no loose ends. Ultimately, all these experiences just make us wiser for the future.
Now we are unable to get traditional financing to help us grow again. On top of that, all the stress, work, money, we invested and we did not even own the properties. We make good money leasing properties that are otherwise too expensive to buy, but it would be a dream come true to own all our properties! That's the ultimate goal. Large scale industrial-sized properties in urban centers are kind of expensive for a one guy show (Kelvin Xuna), so hopefully, someone can join in Kelvin's vision and capability of piloting this business plan to open and stabilize several properties in every expensive and major city around the world.
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