The END of Los Angeles Landlords (New INSANE Law)

⚠️ I Received This Email From My Eviction Attorney ⚠️
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This marks the end of Los Angeles Landlords.. I received an email from one of America's most successful eviction attorneys and what he stated is truly shocking. We are going to witness a wave of foreclosures and bankruptcies across multi family real estate in Los Angeles County. I believe that we will see real estate investors and real estate speculators step into financial loss at a level in which they themselves can not comprehend.

Many people who buy multi family real estate do so based on a value add position or based on current cashflow (cap rates, GSI - gross scheduled income, or NOI, net operating income) and the intent is to find ways to increase the NOI.

I believe we will see many landlords continue to leave Los Angeles and leave california as things get more challenging for them to invest in property, collect rent and operate their real estate investments.

#losangeles #realestate #california

[ThisisJohnWilliams]

What Do You Think About This?! Drop it below, let's talk about it..

[lucasupright]

Can you imagine the stink if the banks were told people didn't have to pay mortgages for 35 months?

[db]

Need to vote all the politicians responsible for this unfair treatment of landlords, out of office, the laws are reckless.

[dave]

A preliminary injunction was just ordered on the Los Angeles Eviction moratorium because it is unconstitutional. Moratorium set to expire on Dec 1st unless LA fixes the issues. County has not commented

[dave]

1. You can evict in LA for money owed before Sept. 21st 2021.
2. For rent owed after that you will be able to evict Jan 1st 2024.
3. I have two tenants who have never been late in the city of Los Angeles.

[musictosoothe]

Judgement against tenants is useless. Normally, you can't get back rent from a tenant who's only 2mo behind, let alone 3 years. Gov't should make landlords whole right away. That said, rentals are no longer a viable investment class.... not until full property rights are restored to landlords.

[RBAILEY]

Any sort of eviction moratorium or rent holiday is a violation of the "Takings" clause in the Constitution.

[azo]

How to get elected all the time: Make people poor. Make them rely on you for financial assistance. Make them vote for you effectively.

[InnerPower]

In Washington there no help for Landlords, especially low income landlords. There only Funds for primary residence Homeoners who spend they money for cars and Gucci, now get up to 60 000 for Reinstate mortgage. This is very bad!!

[gordonharlow]

Years ago when I was 12 I visited my grandmother. She had s firm over to bid on attic insulation. Her response to one bid was guess they wanted to make it all in a day. That said as a Tennant I am sick and tired of the 10% annual rent hike. That is double every seven years. IMO renting is no longer a valid way to find a place to live. I am looking at going nomad. Van life is better than paying all of your income just on rent. Not worth it

[Dk-fune]

I lost my job and missed 4.5 months rent in the city of Los Angeles. My landlord is suing my for 92k . I owe him 10k at the most.

[s.c.]

Can property owners sue the State of California for back rent?

[weekendhero]

I'm only surprised that Newsom hasn't done this for all of CA. Maybe he has. I sold my rental in San Diego a year ago, and don't pay much attention to landlord loss of rights anymore. Thanks, John.

[dano]

Yay! Like Eddie Murphy said on SNL in the 80s "keel ma landlawd"(phonetically spelled)

[sitprettybaby]

I absolutely cannot wait to get out of California it's absolutely lost its mind

[loftonsports]

I encourage ALL property owners in Los Angeles to work with your lenders on a loan modification due to the global scamdemic so you are NOT paying the 401ks and retirement plans for the idiots in office which have stolen your assets for the past 3 years.

[SlowDriver]

Wait, who in their minds would still wanna invest in a passive income property in LA?? LOL!

[maryannoneill]

Homeless plan
I think alot of people don't want to rent their properties

[xenobioticslyingeyes]

John as you know this is all planned.I lost around fifteen months of rent and i consider myself very lucky.Maybe the system works maybe it doesnt.As a landlord you have the right to use self help.Whatever you can do without physical force you need to make their [tennent] situation uncomfortable.The system and the renters are trying to take your property and your rights.

[MediaCreators]

“Would you buy a 100, 000 $ Ferrari for 20, 000 $?” Shure, but only if gas is below 50 $ per gallon.