Los Angeles Begins Seizing Landlords Private PROPERTY?!

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I moved to California in 2006 and then to Los Angeles in 2009. I believe these were some of the best times to live in Los Angeles during my generation. Now we are seeing madness come to Los Angeles property owners, landlords and investors with new protocols for property investors. I believe that the rules and regulations in DTLA and Los Angeles as a whole will become much more challenging for property ownership, especially if they intent to rent out their property.

I believe that smart real estate investors today are bringing forward a forward thinking mindset and attitudes when investing as certain areas of the country are becoming much more challenging when it comes to property ownership and cash flow through rental properties.

The City of Downtown Los Angeles is in the process of attempting to seize this landlords property. They want to seize his multi family building because they made a deal with him thirty years prior that rents should stay low for 30 years and if you keep rents low, we will give you a tax break. We'll now the 30 year time period is up and he wants to be able to increase the rents to market value. The cities response is to give him below market value for the property and seize the building through eminent domain.

What are your thoughts about this situation and what Tom Botz is ginghams through? Would you invest your money in Los Angeles Multi Family Real Estate?

#losangeles #seizingproperty