Rocky!! Good Bye LA

[Looking Glass]

Another Californian is Going. He Listed his LA Mansion for $130 Million, which has a Tax Bill of $125,000.00 per yr. Moving to Palm Beach waterfront property he has purchased last year for #354 Million.

Who's left in California to pick that up?

O.K. I know, But it isn't just a fluke few anymore. The Tax Bill most likely won't go down with a price like that.

DAMN!!, Gavin are you paying attention?

 

[Performance Grips]

Some Chinese buyer will come in and pay cash. Its been happening all over California. Its called diversity

 

[LargeOrangeFont]

Yep, Gavin is happy, that $125k property tax will be $1.3M after the sale.

 

[Dettom]

Newsom knows people are fleeing California and he knows why. But he doesn’t care because the loss in tax revenue can be made up for in the short term by raising it on those who are left. And that’s what he’ll do.

 

[Looking Glass]

Yep, Gavin is happy, that $125k property tax will be $1.3M after the sale.

Short sighted people always end up in the same situation.

 

[was thatguy]

It’ll become an air BnB and be featured on MTV rap videos...or a “teen mom OG” reunion.

 

[DWC]

Some Chinese buyer will come in and pay cash. Its been happening all over California. Its called diversity

I’m sure some of the real estate/lender peeps on the board have current info. We went through it a few years ago at work. The number then was over 50% of homes over $1mil in OC and San Diego were cash buyers. It was jaw dropping. LA was much lower at the time. Would be interesting to see the new numbers. Interest rates were much higher then, so even more reason to keep the loan for write off purposes.

 

[Looking Glass]

It’ll become an air BnB and be featured on MTV rap videos...or a “teen mom OG” reunion.

I heard you are quite the Expert on air BnB

 

[Ziggy]

Eh-Oh

 

[monkeyswrench]

Yesterday morning at coffee, I heard about another car guy moving out here. He had a very successful motorcycle dealership in OC, and a very nice home...He decided the amount the state was taking had tipped the scales, and it was time to retire. I would think this is happening at all levels, not just the super wealthy, but also the "pretty well off" and even just "well to do".

 

[Mr. C]

Yesterday morning at coffee, I heard about another car guy moving out here. He had a very successful motorcycle dealership in OC, and a very nice home...He decided the amount the state was taking had tipped the scales, and it was time to retire. I would think this is happening at all levels, not just the super wealthy, but also the "pretty well off" and even just "well to do".

I can say. SCV area. We have had a couple of cash offers. We are not in the million dollar homes. 700k would be closer. I’m 57 and about 5 years before I can retire and be comfortable. I can tell you though if I didn’t have kids and family in the area I’m about ready to just pick up and be gone to simpler times. I’m really starting to hate this place but will endure a lot for my kids and grandkids.


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[monkeyswrench]

I can say. SCV area. We have had a couple of cash offers. We are not in the million dollar homes. 700k would be closer. I’m 57 and about 5 years before I can retire and be comfortable. I can tell though if I didn’t have kids and family in the area I’m about ready to just pick up and be gone to simpler times. I’m really starting to hate this place but will endure a lot for my kids and grandkids.


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I was lucky, I got out before I had much to lose. I don't think the taxes and the laws are going to stop at Cali's borders. The fed regs will be horrendous as well. I think the main things are going to change back to more simplicity in the household. The have's, and have nots will start to see all the money in the world won't buy you freedom. The simplicity will be seeing that being around family and friends will outweigh either the money made, or the taxes paid.

 

[Mr. C]

I was lucky, I got out before I had much to lose. I don't think the taxes and the laws are going to stop at Cali's borders. The fed regs will be horrendous as well. I think the main things are going to change back to more simplicity in the household. The have's, and have nots will start to see all the money in the world won't buy you freedom. The simplicity will be seeing that being around family and friends will outweigh either the money made, or the taxes paid.

I don’t know if changing back to the simplicity of things are capable in CA anymore. I’m not a baller. And the way things seem to be heading I will be a have not sooner than later. And I’m not sure if I can afford to stay and be comfortable just to be around family. How sad does that sound. Just saying it hurts. But it’s true. I’ve / my wife and I have a lot of decisions to make in the next couple years.

I used to love it here and couldn’t imagine anyplace else. Sad to say things have changed.


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[monkeyswrench]

I don’t know if changing back to the simplicity of things are capable in CA anymore. I’m not a baller. And the way things seem to be heading I will be a have not sooner than later. And I’m not sure if I can afford to stay and be comfortable just to be around family. How sad does that sound. Just saying it hurts. But it’s true. I’ve / my wife and I have a lot of decisions to make in the next couple years.

I used to love it here and couldn’t imagine anyplace else. Sad to say things have changed.


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I know. Born and raised, first 36 years of my life, and all I ever knew. The rat race started to drive me bat shit crazy. Had the big house, trucks, toys...the Cali dream. The cost was more than money. Wife and I took the kids and fly blind, total crapshoot.
The money and lifestyle may be driving forces in life, but what money and lifestyle do you need or want, and what's needed to get there. Lots of things to think about, that's for sure.

 

[Rajobigguy]

Yesterday morning at coffee, I heard about another car guy moving out here. He had a very successful motorcycle dealership in OC, and a very nice home...He decided the amount the state was taking had tipped the scales, and it was time to retire. I would think this is happening at all levels, not just the super wealthy, but also the "pretty well off" and even just "well to do".

How much do I have to make/have before I can move from "middle class" to "well to do"???

 

[Backlash]

If you have to ask......

Me?? I'll never be "Wealthy" or even "Well off." And I'm OK with that. Everything I have I own, and nobody can take anything away as it's all paid for, free and clear. It's a good feeling.

 

[monkeyswrench]

How much do I have to make/have before I can move from "middle class" to "well to do"???

Couldn't tell you...my ass went flying off that hamster wheel

 

[DRYHEAT]

How much do I have to make/have before I can move from "middle class" to "well to do"???

I’d be happy to move up to white clutter instead of poor white trash.

To those of you who may have been offended buy my racial comment I apologize.

 

[jailbird141]

Some Chinese buyer will come in and pay cash. Its been happening all over California. Its called diversity

It is not just California. There is a trend right now, and it has been going on for about three or four years already, of 'out of country' Chinese buyers buying ranches and farmland across the Midwest at a record pace. A lot of cases they are offering double the property value and in cash. Hard to turn that down when you are a struggling farmer and you know the current corrupt administration has no plans or intentions of helping you. If you look at the national picture, Chinese are buying American land at a record pace.

 

[RichL]

It is not just California. There is a trend right now, and it has been going on for about three or four years already, of 'out of country' Chinese buyers buying ranches and farmland across the Midwest at a record pace. A lot of cases they are offering double the property value and in cash. Hard to turn that down when you are a struggling farmer and you know the current corrupt administration has no plans or intentions of helping you. If you look at the national picture, Chinese are buying American land at a record pace.

Really makes me wonder where all that Chinese cash is coming from and my initial thoughts scare me.

 

[Looking Glass]

It is not just California. There is a trend right now, and it has been going on for about three or four years already, of 'out of country' Chinese buyers buying ranches and farmland across the Midwest at a record pace. A lot of cases they are offering double the property value and in cash. Hard to turn that down when you are a struggling farmer and you know the current corrupt administration has no plans or intentions of helping you. If you look at the national picture, Chinese are buying American land at a record pace.

And what they do not buy, what they paid raises the Tax Load on the remainder to the point of putting the "Hurt" on Good,Honest Hard working Americans that just want to Try to make a living and Be Left Alone.

Then Insult to Injury these are Corporations that receive Huge Tax breaks and Govt. Incentive $'s. The average Family Farm, if not already is soon to be Extinct. That affects all the Small Town America that was the Back Bone of "The Heartland"

These Politicans could care less they and their Families are "SET'

 

[monkeyswrench]

Want to be scared? There was an article last week in Forbes about "Cascade Investment" becoming the largest farm property owner.

Bill Gates is "Cascade Investment"....

 

[Looking Glass]

Want to be scared? There was an article last week in Forbes about "Cascade Investment" becoming the largest farm property owner.

Bill Gates is "Cascade Investment"....

Some years ago Ted Turner was the Largest Land owner in the US.

Bill Gates, it appears has some sort of agenda for this Country and "US"

Quietly, going about whatever that is.

 

[1tonfun]

Me?? I'll never be "Wealthy" or even "Well off." And I'm OK with that. Everything I have I own, and nobody can take anything away as it's all paid for, free and clear. It's a good feeling.
[/QUOTE]

Congrats, you can't put a price on piece of mind of being debt free, wealth is all in the eye of the beholder.

 

[Mandelon]

Bill Gates is about to change the way America farms

The cofounder of Microsoft and his wife make an auspicious debut on the 2020 Land Report 100, as America’s largest private farmland owners.

www.agriculture.com

 

[Mandelon]

If it sells for $130,000,000 The new property tax bill will be like $135,000 a month. LOL Probably more than Sly is paying. Gavin will be pleased.

 

[monkeyswrench]

Me?? I'll never be "Wealthy" or even "Well off." And I'm OK with that. Everything I have I own, and nobody can take anything away as it's all paid for, free and clear. It's a good feeling.

Congrats, you can't put a price on piece of mind of being debt free, wealth is all in the eye of the beholder.
[/QUOTE]
After the last dem fiasco, I made that my goal. Helped out my physical health, my mental stability and my marriage...
Not everyone's cup of tea, but I drink coffee anyway!