3 ms·
They probably have a massive prop 13 subsidy.
by sagarm 10y ago
They probably have a massive prop 13 subsidy.
- exclusiv 10y agoYeah it's in a family trust and they haven't done any major renovations. Taxes are lower than they should be. But even if taxes were zero, it still wouldn't make sense to buy this place for 2M+ when rent is only 4500. For 4500 rent you need to be around 900k max purchase price. If it's an investment it should be way less, like 450k. I've rented 4 different homes in Cali and 3 were owned by family trusts. The one that wasn't made nothing and she ended up selling to get out. I rented that house for $3600/mo and she got 925k for it.