From 1978 thru 1990 the real estate market could do no wrong in California. With the aerospace industry booming, any vacant property was filled in days. My first SFR, a modest 3+2 with a heated pool, attracted over 50 views to my weekend open house and got rented that first weekend on the market.

Then in 1992 we had the riots and there was looting, fires and damage everywhere. Then in 1994 we had the Northridge Earthquake, damaging 1 in ever 3 homes. During that time the iron curtain wall came down and aerospace defense lost over 300,000 jobs in the San Fernando Valley.

The once top of the market $250,000 home fell from 1990 to $160,000 in 1997. This is where this story starts.

In 1997 I started to buy distressed apartment property's. Instead of 12 X, times gross, deal could be had at 5 x -- times gross.

I had purchased a 5 unit in 1990 for $300,000, 13 times gross. And in 1997 I purchased another 5 unit building for $150,000, only 4.8 times gross.

This effected the property values and county property tax being dropped down 50%. Many landlord asked for their property's to be reassessed.

But in my case, buying a 5 unit for $150,000 AND getting a property tax bill for $7,000 was unthinkable. The county said my property base for assessment was around $600,000, 4 times what I paid for the property.

It was going to take the County two years to re-assess this property. I was over paying by $5,000 a year and I couldn't afford this treatment.

So like here on Mr. Landlord I cried and vented my frustration. That's until I talked to my brother. My brother is an economist, MBA and more. But one of his friends was an Orange County Assessor, sent to a training class -- "How to re-assess property without lowering taxes". They had 4 major excuses on what they told the masses. Like in my case, The "County" believed I purchased this 5 unit FROM A FAMILY MEMBER.

My purchase was from a banks REO. So I got an attorney and we filed a Class Action Case against the Los Angeles County Assessor. And got a Settlement. $26,000,000. Lost interest on peoples over payments. The way it worked, someone had to file a claim. Only 1/2 of the people did so the payment was only $13,000,000. SO the county got to keep 13M...

All departments in the City and County were told to become creative and keep revenue up. Or there would be lay-offs, no bonuses, etc. One City Official had to s top supporting his mistress with City/County funds.

This started the downfall in local government. One of my tenants, Jackie Goldberg and city counsel women's assistant, had a car that was given to her for city business. You could not take the car home. But the aid took the car to my property, and in the front seat was a free gas card.

Ever since then, 1997, city programs were designed to make revenue, no enhance the city. Section 8, inspections and code enforcement.

Just last month our Mayor, Karen Bass, announced she funded a $46,000,000 fund to aid tenants fight landlords who move to evict them. Anytime a landlord issues a notice that may result in an eviction, the landlord has to send a copy of the tenants notice to Housing. Housing in turn will offer ANY TENANT $5,000 for defense of their eviction.

I have over 100 situations where the City keeps on favoring tenants over landlords.