Levi Teleshevsky

Value-Add Multi-Family in SoCal | Co-Founder at LMA Properties

[Levi Teleshevsky @LTeleshevsky]

Here goes nothing - if you’re an investor looking to place capital please consider partnering with us. These are the returns we have generated since inception in August 2024 (Investor Level).

Deal 1 (purchased prior to company formation) - 50% net return, 24 months
Deal 2 - 39% net return, 9 months
Deal 3 - closed Aug 25’, rent roll will be up 134% by June (Currently remodeling units)
Deal 4 - purchased Nov 25’, rent roll up 57% to date. More on the way.
Deal 5 - closed Jan 27th. 1975 construction at 144k/door. 9 GRM with significant upside.

We’re buying more deals and we want more partners.

[Levi Teleshevsky @LTeleshevsky]

@tovihomie great area. looks beautiful

[Levi Teleshevsky @LTeleshevsky]

@YahavLitan Would love to chat

[Levi Teleshevsky @LTeleshevsky]

@LA_Multi_Fam Learned this the hard way unfortunately.

[Hon. Vickie Paladino @VickieforNYC]

My official statement on the budget, as read in chambers this evening, before I was muted:

"I’ve been a member of this city council going on five years now. And I’ve voted yes on the budget every year so far. All of them had problems. All of them contained things I didn’t like or agree with. But I’m not here to demand perfection, I’m here to work with what we have — within reason.

Unfortunately, this year is very different. And I must vote no.

Even in the context of our dysfunctional city government, this year’s budget represents a complete departure from reality, spending more money than we’ve ever spent — precisely when we can least afford it.

We have never seen a larger single-year increase in spending in the history of this city. Requiring not only new taxes from Albany, but pension deferrals and an eight billion dollar bailout from the Governor. And even still, the revenue projections are optimistic at best.

This isn’t a ‘balanced budget’ — it’s budget by bailout. A ticking time bomb.

And it’s the beginning of a fiscal death spiral that our current leadership will not be able to pull us out of, because they lack both the experience and the seriousness to do so.

What will we do next year? And the year after?

The only responsible way for our city to spend more is to grow the economy. New businesses, new private economic development, major investment. That’s how you grow an economy, and get more money into the city budget.

But we’re doing the opposite. Deliberately chasing away everything our city needs to sustain our spending with childish political attacks on very people we need most.

Our tax base is isn’t growing. It’s leaving.

The middle class, the financial sector, and businesses of all sizes are choosing to go elsewhere. And they’re being replaced with low-income foreigners and transplants who require significant subsidies just to survive here.

We’re trading investment banks and small businesses for delivery app drivers on welfare, and nonprofit workers whose paychecks ultimately come from government spending. That isn’t growth.

And when ordinary New Yorkers complain, they’re told to shut up and leave if they don’t like it. And that’s exactly what many are doing.

This is obviously unsustainable. But nobody in this chamber really seems to care.

And what are we getting for our money? We already spend more in real dollars AND per capita on everything from schools to housing to healthcare than anyone else in the country.

We can’t even build a public bathroom for less than three million dollars.

Why would anyone believe that shoveling even MORE money into this broken system will improve anything?

It won’t. I guarantee that we’ll all be sitting here again a year from now, with the exact same problems, listening to the exact same lectures about how the city needs even MORE money, AGAIN.

At what point do we, as a City Council, start to demand results before we allow more spending? When do we demand accountability?

The answer seems to be never. Because this spending isn’t really meant to fix anything. It’s meant to keep the machine going, keep the money flowing into the special interests and nonprofits and the political allies of the Mayor, with no real consideration for anything else.

I realize a lot of people don’t want to hear this, but we are a municipal government, not a sociology experiment or a political slush fund or the United Nations.

We are here keep the lights on, keep the water running, pave the roads, and put criminals in jail. That’s it. And we would be very well advised to get back to basics. Because we’re failing on nearly every count, other than our peerless ability to hand out free money.

Shame on this Council for pretending this budget is anything other than a disaster. I know that my single vote ultimately doesn’t matter here, but nonetheless I won’t put my name on it. I respectfully vote no."

[Levi Teleshevsky @LTeleshevsky]

@kylekuzma Come learn the RE field

[Levi Teleshevsky @LTeleshevsky]

@CAgovernor How do people still fall for this shit?

[JD Vance @JDVance]

As we watch this horrible situation in Israel unfold, Americans must face a stark truth: our tax dollars funded this.

Money is fungible, and many of the dollars we sent to Iran are being used to now kill innocent people.

This must stop.

Israel has every right to defend itself. I wish our friends well, but most of all I wish they weren’t fighting against weapons bought with our money.

[Levi Teleshevsky @LTeleshevsky]

@kylekuzma @GilmanHill Whats your take?

[Levi Teleshevsky @LTeleshevsky]

@spencerpratt Who puts these videos together?

[Levi Teleshevsky @LTeleshevsky]

@spencerpratt Some of the best marketing I have seen. Wish you were still in the race.

[Levi Teleshevsky @LTeleshevsky]

@kylekuzma More leverage in a sports team. More levers for growth.

[Levi Teleshevsky @LTeleshevsky]

@BillAckman Electric

[Levi Teleshevsky @LTeleshevsky]

@kylekuzma @gainzy222 Ever dabbled in the RE space?

[Levi Teleshevsky @LTeleshevsky]

@BoringBiz_ Argentina sounding mighty fine

[Levi Teleshevsky @LTeleshevsky]

@DanielSLoeb1 Hi Daniel, I'd love to chat with you but can't message you on X. Putting a comment here in hopes you see and reach out. Gotta try!

[Swan @AndySwan]

You're much more of a slave to the 1% that commit 50% of crimes than you are to the 1% that create 40% of the wealth.

[Moses Kagan @moseskagan]

What every voter and apparently, the NY Times Editorial Board, should know about housing policy:

1. Rents reflect the balance of supply of apartments and demand for those apartments in a given area. That’s it; there’s no magic. If you want lower rents, you can hope for a recession that destroys jobs and, therefore, demand. Or you can add supply.

2. There is no amount of money that any big city government could feasibly spend that would add materially to supply. This is because, depending on the location, new apartments cost $250,000-1,000,000 to develop… building even a few hundred of those starts to stress any city budget, and many big cities need tens or hundreds of thousands.

3. On the other hand, investors (including pension funds and endowments, insurance companies, rich families, etc.) can collectively **easily** provide enough capital to build as much housing as we need **so long as they are confident they can get a reasonable return**.

To get those investors to fund the creation of the housing our society needs, we must do two things:

1. Dramatically reduce the time & complexity associated with securing governmental permission to develop housing. This means reviewing and simplifying the overlapping regulations that constrain housing production: zoning codes, building codes, parking, ADA, etc. But it also means changing the cultures within the relevant governmental agencies from “default no” to “how can we help you?”.

2. Provide certainty around on-going regulation of apartment operations.

The way investors get a return from building rentals is as follows: They hire managers to lease the apartments, collect the rents, pay operating expenses and any mortgage payments, and then send the investors the cashflow that remains.

But governments all over the country have been restricting the manner in which apartment buildings can be operated in all kinds of ways.

For example: Cities have been making it harder to screen tenants, while also making it much harder to evict tenants who don’t pay. You can see why both of those measures are politically popular. After all, who doesn’t want people to get second chances? And who wants anyone to get evicted? But, as a manager, the combination of those two regulations makes it much harder to predict, with any certainty, that the rent will get paid… and that makes it very difficult to get investors to provide capital to create more housing.

Another example: Rent control. Again, I understand why renters love rent control and why politicians want to give it to them. But, if, as has been the case in NY, LA and San Francisco, city governments hold annual rent increases below the rate of growth in the operating expenses of the buildings, the cashflow payable to the investors shrinks… making them much less likely to invest capital in building more apartments.

In conclusion: For ~every other good or service in the economy, we allow the market to function, and the result is that we have a surplus of choice at all price points (think of food or clothes or cars), which is spectacular for the consumer. If we want a surplus of choice at all price points in housing, we need to get comfortable with the idea of allowing the market to provide it.

And that means allowing investors to build rental apartments *and* allowing them to operate those apartments in a manner consistent with making a reasonable profit.

Remember: Every developer of rentals is either a landlord-in-waiting or hoping to sell to one.

[Levi Teleshevsky @LTeleshevsky]

@moseskagan @feelsdesperate Can make the same case about rent control.

[Bill Maher @billmaher]

People say the left and the right can’t agree on anything these days. But there is this one thing:

[Levi Teleshevsky @LTeleshevsky]

The magnet goes in the duvet cover to hold the duvet in place so that you can just drop the duvet in and the magnets connect. Think duvet that opens like a notebook with 4 magnets (one in each corner). Drop the duvet down and zip it closed. Magnets on fitted sheet let you make your bed on one minute too. Give me more ideas!!