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  1. 10-24-2014, 02:27 PM #5
    2manymustangs
    2manymustangs is offline
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    Quote Originally Posted by gn7 View Post
    It is/was a tax haven for the rich. Like you said, you need to incorporated to make it work at all.
    Magic Johnson was/is? one of the largest section 8 housing landlords in Los Angeles. You MUST have a property management company handle shit for you, or you will be married to property full time. My sister worked for the property management company that handled Magic's stuff. Section 8 renters know "renter's rights" forwards and backwards and you need someone that knows them just as well on your side or you'll get eatin'
    I have known a few slum lords while I was practicing R.E. (my broker was one) and now my wife works part time for a property mgmt company that owns/manages many of their own places...

    The stories are enuff to make you
    Last edited by 2manymustangs; 10-24-2014 at 02:35 PM.
    -In a Republic, the sovereignty resides with the people themselves. In a Republic, the government is a servant of the people, and obliged to its owner, We the People..

    "Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide." John Adams
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