You haven’t quoted anything to Support your viewpoint. I’m a CEO with a degree in economics from the university of chicago. Not sure how that discounts my opinion But….
Do you want me to quote Jamie Dimon? I don't really know your opinion. I don't anything about you. You are just somebody on a discussion forum... like you said the internet is not something reliable.
When I saw the title, I was thinking the same thing. I don't know if we are talking about the same place? Probably not since it's further north of you. There has been a hamburger place that has a lot of customers. Their hamburgers are huge but it's comfort food as it just has the thousand island dressing. People have been going there for years. This past weekend was their last weekend and people were lined up for 2 hours to order their last burger. Most said they would not patronize any new tenants that this landlord might bring in. It's been there since I was in high school (70's) and before. I don't know if someone bought the land/building recently but with our proposition 13, the old owner couldn't have been paying a lot in taxes each year. The new owner would have to pay 10% of the price if they bought it now. I do know someone down the street (Marie's donuts) who have rented and even though the landlord hasn't had any increase, he raises the rent the maximum (I think 10%?) each year. Eventually, this landlord is going to find himself in the same situation of not finding a new tenant.
Yup, Lou's Burgers, so same place. Actually the new owner will pay one percent, not 10 percent of the purchase price in property taxes under Prop 13. They paid $580,000 so their property taxes will be $5,800 a year which works out to $484 a month With nothing down, their payment will be just under $3,700 a month. So owning it means their payment will be in total about $4,200 a month, which is more than the $3,500 a month rent they were paying, but less than the $5,500 rent the landlord wanted..
You are correct. I would go and amend my post to 1% but then it would be confusing. I did mean 1% though, thank goodness or my house taxes would be @##%%^#$$$$ I'm glad they worked something out. For us in Rio Linda, since we didn't have a football stadium back in the day, we played at Highlands so our stomping grounds before/after the games were either Maries or Lous.
Yup, I went to Encina and we shared a stadium with Rio Americano and El Camino at El Camino. Now every High School has it's own stadium. Kind of a waste of money since even when three schools shared a stadium it sat unused 4 days a week. While fewer students are graduating now, they have higher self esteem because they have a football stadium.
