Costa Hawkins and California Real Estate
Hello, I have a 20 unit multi family in Glendale, CA. Glendale currently is a non-rent control city.  I was possibly looking into a 1031 exchange but wanted to hear opinions about timing: I've heard some say they would rather hold on see how state and city rent control laws play out.  While others are selling their properties, anticipating that their non-rent control building may soon be a rent control building, adversely effecting its market value. I also realize there is plenty other timing questions to consider like real estate cycles, interest rates, etc... Thanks!
[{"id": "e0whoh8", "text": "Trusting the redditors over your local brokers eh?", "replies": [], "depth": 1}, {"id": "e0whvqn", "text": "As you know, most legislation in California tends to be in the tenant's favor and since housing is such a hot topic, representatives and council people will probably be pushed by public opinion to support more rent control. I've read conflicting reports on what kind of real impact there will be on the housing crisis but I certainly think it will hurt the pipeline for development.\n\nIf you do happen to sell your building and want to do something good (building permanent supportive housing for homeless people) w/ the proceeds while doing well (4-5% return and possibly more with 0 to little risk) send me a DM, I'd love to tell you more about it. We're building these in Los Angeles and finishing our first project in August while in the process of closing on our 2nd and potentially 3rd and 4th. Going to eventually be doing 7+ of these a year.", "replies": [], "depth": 1}]