Comments by "WanderingDoc" (@wanderingdoc5075) on "Thoughts on California’s New Rent Control Law" video.

  1. "The market is overheated" That's what my mentor had heard since 1960 in CA. Yet those property values doubled every 10 years.. this includes the downturns! I know we are all selling something but Andrew you are off on this one. I would never LIVE in California, but the numbers don't lie. CA is like the 5th largest economy in the world compared to all countries. Anyone who bought anything there 20 years ago is a multi-millionaire.. by accident.
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  2.  @susiebear3316  "socialist shithole" true. Most profitable real estate market, also true. Look up the numbers, they don't lie. 8% YoY appreciation and 6% YoY rent growth since the 50s. Absolute gold mine. Talk to actual investors not armchair YouTubers who just say "high taxes" and move on. CA has the lowest real estate taxes out of 50 US States by the way.
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  3.  @NickDemski  I was a millionaire by 31, by 33 res estate paid me $6K per month in income I spent 1-2 hours per MONTH on. I'm financially free in my 30s. If you want a life of freedom for you and your daughter I'd study this stuff and jump in. Or work for the next 40 years and have less options.
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  4.  @shotelco  When you're property doubles every 10 years and you're a multi-millionaire, you're happy to pay even $7K. People pay $15K in NJ on a $600K property
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  5. Yes the 5th largest economy compared with all the COUNTRIES in the world has been circling the drain going on 60 years now..
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  6. Property values in CA have doubled reliably every 10 years since 1950, this includes the downturns! Also, due to prop 13, people are paying property taxes for a $100K assessed value for properties worth $1.5M. CA has the LOWEST property taxes in the US. Rent control affects like less than 5% of condos to boot. All this information is from my mentor, investing for 45+ years in CA. I said all the same things to him, as Andrew is saying here.. boy I was wrong. You could buy property in CA at any time in history, and now your retirement is set with just 1 or 2 rentals.
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  7. It has made my financially free at 31. Started in active rentals, now invest professionally in passive real estate syndications.
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  8. Only 3 ways to get wealthy in the US: 1. Startup (most people can't do this, odds too low) 2. Index funds and stocks (takes many decades, too long) 3. Real estate. Your call my friend.
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  9.  Derek Johansen or something  I concur. I have successfully been self managing my rentals in Hawaii for 4 years, and I'm in East Asia! All of the things about real estate you hear from the naysayers are all mythology.
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  10.  @NickDemski  No for the ones in Hawaii I don't. I pay someone a nominal fee to place a tenant. They pay electronically through a portal to me. I take a business trip there for a week once a year. To this day I have never received the mythical "middle of the night call for a leaky toilet" lol. In fact, I can't remember the last time a tenant CALLED me
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  11.  @NickDemski  I call a repairman, he then comes in a week and fixed the problem. All these real estate 'emergencies' you hear about are not emergencies. You (and I) were lied to.
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  12.  @cr6129  Get off YouTube and look up Prop 13. Stop regurgitating all the bs you heard on the internet. Yes and doctors take "kickbacks" from pharmaceutical companies LOL
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  13.  Derek Johansen or something  Yes, the poor people are leaving. Rich are staying put LOL
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