Micro business

Shaun is the 23-year-old son of a friend of mine. He’s also an entrepreneur with a plan. He wants to sublet his one-bedroom apartment to two-or-more students ..for a modest profit ..then move ..rent ..and sublet again. It’s a ‘micro business’ he says “ ..start small ..create a stream of income with every move ..until, who knows ..maybe one day I’ll work my way up to like ..dormitories.” Before long, he says, he’ll have enough money for a place of his own. Well, I have to give him credit ..he would be filling a need ..we have a large population of students ..and a shortage of housing.

“Aren’t landlords already doing this kind of thing in Isla Vista ..?” I ask.

“Yeah, but I’m looking at the Mission district .. places like that ..who wants to live in a student ghetto like IV."

(Other students, I say to myself) “You’re going to have to stay one step ahead of the wrecking ball ..the only affordable rents in districts like that are in buildings about to be torn down.” (I don’t have to remind him that he lives in an apartment that was converted from a hospital ..and is scheduled to be torn down).

“But, don’t you see uncle Lee ..that’s where the opportunity lies, they all have to go through the permit process ...which can take years ..in the meantime, I’m providing income for the owner ..and living quarters for students .. it’s a win-win situation .. do you know what the dropout rate is around here ..? Shit, I’ll probably be able to rent the same place two or three times before the wrecking ball arrives."

“Sounds like a black-market ..do you suppose real estate offices are doing that already ..part of their ‘property management’ division ..have you considered working for them ..?”

“I’m not talking about work, uncle Lee ..I’m going to ‘manage’. I’ll hire people to do the work.”