The good hearted landlord sold out to Blackrock and China. My point is today for a young college grad, you need to make $200k to buy a house and look for that special stay home wifey and mommy. I know a few landlords that made a nice cash flow. Timing was everything and he's counting the cash in his steps. Dude converted his house by SDSU into a little hostel type of living. 6 bedrooms for almost $7,000 a month. Place is a dump. Im really concerned for our youth. Many of the good ones have moved away. I saw one house with 12 people in a 6 bdr. $800 for a bed to sleep on and share a bathroom with 4 people.Some of that cost is risk-based. Tenant favored laws passed during Covid (like not paying rent) have continued and its very difficult to evict tenants even for non-payment. Owners have to build that risk into their rent. All the increased costs to manage and maintain a property have also increased substantially due to inflation. And don't get me started on the entitlement process to even build more units in California.
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