Sounds like the banks are misrepresenting the value of these commercial mortgages by this scam :
By giving the property away instead of renting it they can pretend the rental income would still be as high as in 2019.
Regulators and shareholders need to be wary of investing in anybody involved in SF. Your shareholding could be wiped out like the banks at the start of the year. (straight to zero)
If someone gifted me real estate in that place it would be a net drain because I'd have to pay property taxes on it and the city is an ungovernable hellhole so there's no way I'd get any revenue from renting it out.
“Give away the real estate for 10 years”
Sounds like the banks are misrepresenting the value of these commercial mortgages by this scam :
By giving the property away instead of renting it they can pretend the rental income would still be as high as in 2019.
Regulators and shareholders need to be wary of investing in anybody involved in SF. Your shareholding could be wiped out like the banks at the start of the year. (straight to zero)
If someone gifted me real estate in that place it would be a net drain because I'd have to pay property taxes on it and the city is an ungovernable hellhole so there's no way I'd get any revenue from renting it out.