Agents who sell "projected rents" when listing a multiunit within a rent controlled area (Los Angeles).

[Account Closed]

Been shopping for a multiunit. In many of the listings, the agents sell "a tremendous upside in rents" when listing in rent controlled areas with low rents.

Based on my research, with non-owner occupied purchases it's almost impossible to relocate tenants in rent controlled areas. The ONLY option is to raise rents 3%.

Am I missing something, or is this indeed a sales pitch? Thx!

[Joel Owens]

You buy on actual value today that has been proven over a long period of time ( years).

The upside and smoke and mirrors they are selling you do not base offer price on future potential.

Once some brokers/agents get the commission you are left with a dud. Until then some will say anything to sell a property.