I'm currently reading the ABCs of Real Estate Investing by Ken Mcelroy and he presents the strategy of calling landlords about selling. Before I do that, I was wondering if anyone knew of any general laws or restrictions which prevent this? I am aware there is a do-not-call list, but I'm not sure if this would apply, or how to even check if a number is on this do-not-call list.
I am located in Los Angeles if that brings more clarity.
I wouldn't worry about that.
Get your list wherever you can and start calling.
If someone asks to be taken off of your list then take them off and move on!
I don't know about your specific question, but something to be aware of is rent control in LA. May not be as simple (or as cheap) as you think to get the tenant out, so keep that in mind when negotiating. The city requires an escrow for the tenant relocation part, which I handle all the time. :)
To echo Shannon's point, rent control is rough and the City is working on making more rent control changes. What I have had some investors I know do is buy condos build after 1979. Low cost to buy and currently no rent control.
This should explain the challenges forthcoming....
We represent many landlords within the City and County of LA, and all of Southern California for that matter, if this passes I know 90% of our clients are going to sell and move their equity to a more favorable city or state including myself.