The New Los Angeles Law on Transfers of Real Estate

I believe that retail is a good long-term investment and you won't see much distress outside of mall retail. I think Americans will always, hopefully, create new small businesses. There'll be replacements for large scale retailers that go out of business. This is a quiet, unknown sinking of real estate in Los Angeles. And I think San Francisco now also, they've imposed a 5% transfer tax on the full value of real estate when it's sold,. When it's foreclosed. Regardless of whether or not you made money on the investment. Let's think about that.