@Seanfrank Who wants to drop 20M’s to be south of sunset and give away half your income in state and federal taxes and be in one of the most litigious sections of the country..
@jayparsons The cleanest way to address this is a free market where buyers and sellers decide how and when to business and at what price without government intervention.
California Landlord:
His family owned a four plex in Pasadena for 47 years and finally had enough.
This asset generated over $6,000 per month in gross income.. after a $300,000 mortgage payment, rent freezes and insurance tripling he only profited $1,700 per month on $800,000 in equity!
He sold and on his first deal in Cleveland ($107,000 all in) he’s profiting $1,250 after expenses.
Investors are leaving LA multi family - meet Scott, he owned a family property in Pasadena (4 plex) been in their family for 45 years.. he’s sold the property and now on track to own about 15 houses here by year end.
Why? Stability.. Returns.. Insurance and overall a better climate to own rental property.
Will this trend continue?
@bavedikian Proper management is more important than the deal itself in most cases.
I set up in house PM to remove the risk - I couldn't wrap my head around outsourcing it and building an incentive structure to where they make more money stealing from me than managing properly.
This home in Mexico would bring in $3-5k a day on AirBnB…
There are many of these that are neglected resting above the ocean..
I’m not an AirBnB guy but if I was, this is what I’d buy.
@914medallo@DonMiami3 You’d think for that money but no.. think homes in Laguna on the other side of PCH with ocean views but no ocean access for 2-4M and ocean access 5M and up