Investors, Is it Time to Leave California?

Dear Investor, What a ride this year has been!  Especially for investors or people thinking in investing in the apartment building space. Back in April, I wondered if i would be paying all the mortgages out of savings while my tenants had a rent free year.  Luckily it didn't turn out that badly but in some areas across the country and for some investors, it did.Join me as I speak with Pat Swanson, Vice President at Colliers multi-family broker in Southern CA as he updates us on the effects of Covid19 economic shutdown, and the regulations that put a moratorium on evictions, on residential commercial properties (apartment buildings). Inquiring minds want to know:Were sales slower during pandemic shutdown and have they recovered? Have property values come down because of Covid?  What is the data showing on the overall collections for A B and C class properties. in LA and OC?Are there pockets or areas that did better?Is this a buying opportunity time or still a seller's market?Are banks lending with the smaller down payments like before the pandemic? or requiring bigger down payments? Are the banks counting the lower collections in valuing the property or treating this rocky time as a temporary thing? Did the OC do better than LA?Where is the smart money going to (other states) to get a stronger cap rate and less intrusion? As one of Southern California’s most accomplished multifamily investment advisors, Pat’s success is predicated on exceeding his clients’ expectations. From acquisition and disposition strategies to portfolio management, Pat’s experience also includes bulk condo sales, distressed asset resolution, value-add repositioning, and 1031 Exchanges.  Throughout his commercial real estate career, his accomplishments have been recognized with multiple awards - the most recent was achieving CoStar’s Power Broker Award, which celebrates the Top Commercial Brokers in the Country, as well as being the top Multifamily Agent in California for Colliers International from 2016-2019. In addition to being a proud business graduate from USC, Pat was a three-year starter for the nationally ranked Trojan football team. His athletic ability extends beyond college football with a Black Belt in MooYea-Do Karate.  Away from work, Pat is active with Light the Night, a key fundraiser for leukemia and lymphoma research. He is also involved with Swim with Mike, a charity for handicapped children and the Special Olympics.  Pat and his wife Alexis have four children — Ty, Micah, Shayne and Ryanne#californiarentals #multifamilyrental #rentaltrends #2020trends