The Iced Coffee Hour Why I Left California - Billionaire Rick Caruso Responds To Criticism, Homeless & CRAZY Home Prices
32 snips
Dec 14, 2025 
Rick Caruso, a billionaire real estate developer known for iconic LA projects, dives into the chaotic California housing market and shares his insights on real estate investment. He discusses how regulatory burdens increase costs, the importance of pro-growth policies, and the need for a narrative shift to attract businesses back to LA. Caruso reflects on his political journey, the brutality of politics, and the urgent need for compassion and solutions for the homeless, particularly children. His advice for aspiring entrepreneurs emphasizes the value of surrounding oneself with smart people.
AI Snips
Chapters
Transcript
Episode notes
Tear Down Functionally Broken Malls
- Caruso says many dead malls must be torn down because third-floor layouts and poor parking make them unworkable.
- He'd replace them with residential or new uses rather than attempt superficial fixes.
Walk The Property To Find Hidden Value
- Walk properties regularly to learn customer sentiment and spot small issues investors miss.
- Maintain a waiting list and selectively curate tenants to keep zero vacancy and higher rents.
$10M Lesson From Ignoring Playbook
- Caruso lost about $10M when a Carlsbad project was overturned by referendum after he deviated from his community playbook.
- He learned to follow proven community-engagement practices or risk big write-offs.