Protect Ellis Act, Call Now

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C.A.R OPPOSES AB 2364 (Bloom and Chiu), which deters property owners from returning to the rental housing business for 10 years. AB 2364 significantly weakens the Ellis Act by discouraging new rental housing investment and will ultimately make the state’s housing crisis even worse. AB 2364 will be considered by the entire Assembly this week.

Action Item

Call 1-800-798-6593
and enter your PIN number – 191014679 followed by the # sign
to be connected with your legislator’s office.

Ask your Assembly Member to vote NO on AB 2364.

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Bloom and Chiu, 2 bad names

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What? Why are they considering it? I thought it was going to be on the ballot in November?

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They want 2 things.

Ellis Act is not about rent control, it’s about the owner’s right to go out of business. Every business can close shop and go out of business per owner’s wish.

Is it a constitutional right to go out of business? Can California’s liberals forbid owners from quitting landlord business?

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Marginal liberal politicians use rent control to stay relevant. Bloom and Chiu are marginal, even democrats despise them

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I think Wiener got me covered.

This wave of eat-the-landlord attacks is scary af. We need to start the mental preparation of exiting the rental market. :scream:

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I’m still within the tax free capital gains window. I’ll have to really think about keeping the property if repeal passes.

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In SF or Bay Area or California or USA?

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Only inside his mind.

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Depends on the political situation. But on a more philosophical level don’t we want to grow up and maybe get into commercials like office buildings?

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No. Don’t like commercial buildings. More complicated. I prefer simplicity. Don’t even have MFs.

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That lucky office building in downtown Palo Alto owned by an Iranian family is an inspiration to me. I think office buildings are less work than residentials.

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It feels even better if you were actually one of those pre-IPO employees who had worked inside that office…

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Well, you make tons from IPO of PayPal.

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Not really as I was just a small fish. But I was able to invest wisely with that seed money and grow my portfolio into what it is today.

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Still I envy you. At your age, I am still pretty poor :sob:

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They are way more volatile in downturns. In a recession, lots of businesses fail creating vacancy. Families still need places to live. Sometimes you even get more renters if owners lost their home to foreclosure.

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I suspect also high probability of entangling into some sort of legal disputes.

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Commercial is a broad brush. Mf, office, hospitality, retail, shopping centers,industrial, trailer parks. Tried everything but trailparks.
Office is my least favorite.

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Did I post this before? San Mateo office building. 5 cap.