Celebrity realtor Josh Altman recently pulled up on Chris Cuomo to talk about how there’s a lack of rental properties available for people that have lost their homes. Check it out. Not in a good way. Not the type of business you want to be doing. We have over 1,500 new renters just locally. I’m about 10 minutes away from the Palisades. We got a lot of people in this new market. There’s an entire off-market business that’s being done right now. No one can find a rental. It’s insane. People are trying to make deals with empty houses that were supposed to be for sale.

We’re in unchartered waters here. Ordinances are changing by the hour, which is good because people are trying to figure out a way to speed the build process to get these people back to normal life. But also at the same time, even somebody like me, I’m learning as we go. If you asked me two weeks ago about price gouging in real estate, I wouldn’t even know what you were talking about. And now it’s a very big deal here. I’m actually involved in a group of realtors that have this list that people are putting together. There’s over 2,000 units just on this list of people who had different prices late December.

And now they are higher in January. That’s a big issue for multiple different reasons. And it’s very obvious. This is not like you can hide this. This is public record. People can look what it was on for a couple weeks ago. And it’s a big problem that we’re dealing with. And it’s really a race to who can get to these leases first and make a deal. And we don’t even know what’s going to happen. I personally, as the capitalist and capitalistic person that I am, am not against raising your rents if you have a property that was available for rent.

And now people want to rent it when they wasn’t trying to rent it before. Back then you ain’t want me. Now I’m hot. They all on me. Now, you want to come and rent the property because you don’t have anywhere to stay. I am not against raising the price of the brick. The market determines the number. The market determines the number. Otherwise, go live with Gamm Gamm back in the cold Midwest. Go move over to Pennsylvania. Take your… Listen, nobody is required to stay in California. That is the unfortunate reality, is that the market determines… Because see, nobody is going to hit a bottom.

Nobody is going to have a minimum. They’re not going to say, hey, listen, this is the minimum that we’re allowing for renters to be able to keep their properties at. And so if it goes below market value, then you find. We only want to have a maximum. Oh, wait, wait, wait. You can’t raise your rent up that high. Who? Who? What you going to tell me? This is my property. I own this. How can somebody regulate how much I’m going to list my property for rent? Because you don’t have to buy it. The market determines the rate.

I don’t care about your disaster. I don’t care about your situation. I don’t care about it. You should have had better legislators. You should have had some water inside your fire hydrants. And you should have held your leaders accountable. It’s not my responsibility to make sure that your family got a place to stay. I got a business to run here, guys. Y’all said, come on, Anton. Come on, what? Come on, what? What? Come on, what? What am I supposed to do? You tell me. You tell me. See, I want you to put yourself in the shoes of the person that owns the home.

Because so many people, they can’t fathom it. They can’t imagine being in a position of power. And so they only look at it from the dusty mindset. They only look at it from the people under the rest. You’re never looking at it from the perspective of the person that is the owner of the house. When the pandemic hit, nobody cared. Nobody cared about landlords during the pandemic. For the last four years, for the last four years, you know what landlords have been dealing with? Squatters, people not paying a rent, people going to court, taking them to court, costing them money, all of this other stuff.

Because contrary to popular belief, most people that rent properties that are not institutional investors only own one or two properties. They’re not massive landlords like that. And so when they instituted the rent moratorium, guess who paid the price for you standing there for free? Landlords. There are no protection in a capitalistic society. There are no protections for the person that is listed in their property. You can come in, you can tear up, you can squat, you can leave it the way that you want to leave it. And you just can, max you can do is take the, take the security deposit.

That’s it. Take the security deposit, that’s it. Can’t even get them out to your own property, out your own property. Now, people are feeling some type of way. I can’t believe it. I can’t find a place to live. We’ll go somewhere else. Go to a different state. Go to Las Vegas. Go to Arizona. Go, go to Arkansas, where you can afford to be there. Honestly, I’m gonna be honest with you. When I was in the shower this morning, and I was thinking about this because I had already prepared the show, I was trying to figure out if it was a buying opportunity for us over here in California.

Is it a way we can snap up some cheaper land? I know California land ain’t never gonna be cheap, but is it a way for us to snap up cheaper land? Build some properties out there. Let’s continue. Well, I get the price pressure of supply and demand in this situation. That was gonna happen. But the state made the 10% rule. How are they getting around the 10% rule? Off market deal, baby. Well, we’re gonna see what the punishment is, right? Because we don’t even know what that is yet. People who have learned about it, like us, for instance, we’ve had meetings with our brokerage.

We can’t even take those listings if that’s the case. We don’t want to be anywhere near them because you’re gonna get dragged into them on a real estate agent front as well. So it’ll be interesting to see. What I’m hearing is if you were on for 10,000 a month, for example, and you raised it to $20,000 a month, that tenant, once they’re in that house, I would be very surprised if they’re not able to get the entire difference of that $10,000 back. If they go out and hire an attorney, it’s gonna, there’s, but there’s gonna be so much of it.

You have to realize we signed $250 million worth of listings in the past week. We usually do that in a month and a half. There’s, there’s more properties flooding the market, both for sale and for lease. We, I have 50 friends just personally with houses that I’ve sold that have lost their houses completely. And they’re redox. I’m seeing people in the chat. Shout out to the chat chat. I love y’all. Y’all are the co-hosts of the show. I’m seeing people in the chat saying that they moved to inauguration indoors. Can you check on that? When you get a chance? No rush.

They’re gonna do whatever they need to do to get their family to some type of normalcy. You can’t live in a hotel for that long. You got to get back to reality a little bit. I will also tell you, Chris, I walked the Palisades. I walked Malibu. For people watching around the world and seeing this, I’m telling you it is 100 times worse when you walk those areas. It gives you a stomach ache. You can’t even wrap your head around it. Neighborhoods gone. Think about the Palisades. This was that all American neighborhood. Families, children running up and down the street.

It was like what you see in movies. Gone. But I will tell you what’s interesting, Chris. I said when this first happened, maybe 35 to 40% of the people won’t go back to the Palisades. I now up my number to 65 to 70% of the people who lived in the Palisades won’t go back there. What are they gonna do? They’re gonna be the house that’s finished and then live amongst 100 other houses being developed. The kids are that are five years old. They’re gonna be 10 years old by the time of this. It’s done. They’re not gonna go to the same school.

Yeah, I agree. I agree. I think it’s a buying opportunity for a lot of people. I need to do some research and see what’s happening over there in California. Don’t we got some friends in California? We need to contact them. We got some friends in California. We need to contact them. That man says Anton sometimes you’re cold to others who are trying to level up like you. But we all start from different places. I don’t really know what that means, buddy. I don’t even know what that means. Do you want me to be more compassionate for you or what? What does that mean? 2018? What does that mean? How does that play out? While I’m sitting here drinking my hot chocolate and eating pineapples for breakfast.

What does that mean? Anton sometimes you’re cold to others. Do you want me to hold your hand? Do you want me to? What do you want me to do? You want me to be compassionate towards your situation? How does that work? I don’t understand. Before I go into it, before I have a conversation about it, I’m gonna give you an opportunity to explain. Very rarely do I ever do this or do I ever anticipate doing this. Very, very, very rarely do I ever do this. Dacman 2018. Only for Dacman 2018. I’m gonna drop a link in the chat.

And I would like to better understand your plight. You don’t have to be on camera. Explain it to me. Help me to understand it. So I’m gonna go ahead and put that in the chat for Dacman. All right. There you go. So when you get a chance, if you, you know, want to know why I’m the way that I am, call in. We’ll just do audio. And then I’ll explain it to you. And I’ll show you why I’m the way that I am. Okay. Very, very, very rare opportunity. I haven’t done a coaching call. I’ve stopped doing coaching calls.

I’m not even sure when I’m a start back coaching calls. And all of that. So I dropped the link in the chat. I’ll drop it one more time. If you decide that you want to call in and have a conversation, we’ll, we’ll, we’ll spend five minutes talking about it. Otherwise, we’re gonna go ahead and move on. All right. [tr:trw].

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