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Some landlords have seen their buildings value and the rents they can command go up well over 100%. There are landlords whose buildings were paid off decades ag
by wasdfff 7y ago
Some landlords have seen their buildings value and the rents they can command go up well over 100%. There are landlords whose buildings were paid off decades ago. And all these landlords pay property tax on their purchased price, not the current value of the property. And I can tell you in LA county that you will absolutely not loose money on real estate if you ride out a business cycle. Its a perfect system designed for a parasite by parasites and supply comes to market in paltry controlled drips.
- nf8nnfufuu 7y agoIf it is a perfect system, again, why doesn't everybody do it? Just because of the property taxes? Everybody is free to buy land, no? Also I don't think people can just ask for arbitrarily high rents wherever they want. It is a gamble to buy in a location where rents will rise. People then only see the winners and not the losers and get envious. Take some risks of your own, then complain.