California Prop 10, your thoughts?

[Jonathan Taylor]

HI Guys,

Ive been submitting offers around Los Angeles and educating myself on the rent control laws here (they are a pain but required). At my most recent meeting with the LA housing authority I learned about Prop 10 that basically limits the amount of rent a landlord can increase a vacant unit. This kills any value add and cuts landlords at the knees. Im asking LA landlords and others who may have experienced this, how does this change my investing strategy ?  Should I wait until November to buy because if it passes prices may fall but then waiting is never a good thing in real estate. 

All opinions on this topic welcomed. 

Thanks 

JT