There are also just lifestyle questions, though. Like, how much stress does it cause in your life wondering if and when the government of California is going to seize your property?
Definitely something to consider. I don't think it's very likely that the state will outright seize private property, control it more through worthless regulations though, for sure.
An eviction in California in just 6 weeks, that is very very optimistic and assumes either a very cooperative tenant (in an eviction proceeding?) or a very dumb tenant. Many tenants will get a legal aid attorney who will move for a trial. After using various tactics to delay an already long and arduous legal process, during which the landlord is paying an attorney significant legal fees, they'll be lucking to get the tenant out in less than 2 years, and to accomplish that they may have to pay the tenant big bucks to leave.. Much better to be a large landlord in California with hundreds of units over which to spread the risk and the resources to hire excellent legal representation. In California, you'll need those lawyers.
I have owned a duplex in Southern California since the mid 80's. The city and county where I own don't have any crazy laws at this time and my property tax rate is lower than where I live now. I moved out of CA in the early 2000's. I am not selling any time soon.
Short answer - No! I have been doing it for the past few decades and the juice is no longer worth the squeeze and it’s getting worse. It’s all about which rent control laws govern you.
There are also just lifestyle questions, though. Like, how much stress does it cause in your life wondering if and when the government of California is going to seize your property?
Definitely something to consider. I don't think it's very likely that the state will outright seize private property, control it more through worthless regulations though, for sure.
An eviction in California in just 6 weeks, that is very very optimistic and assumes either a very cooperative tenant (in an eviction proceeding?) or a very dumb tenant. Many tenants will get a legal aid attorney who will move for a trial. After using various tactics to delay an already long and arduous legal process, during which the landlord is paying an attorney significant legal fees, they'll be lucking to get the tenant out in less than 2 years, and to accomplish that they may have to pay the tenant big bucks to leave.. Much better to be a large landlord in California with hundreds of units over which to spread the risk and the resources to hire excellent legal representation. In California, you'll need those lawyers.
I have owned a duplex in Southern California since the mid 80's. The city and county where I own don't have any crazy laws at this time and my property tax rate is lower than where I live now. I moved out of CA in the early 2000's. I am not selling any time soon.
Good for you!
Short answer - No! I have been doing it for the past few decades and the juice is no longer worth the squeeze and it’s getting worse. It’s all about which rent control laws govern you.
Been a landlord here for 12 years. It has been a great experience - no issues. Don't believe all the negative hype.
Whole country sucks actually