TMZ.com
The raids on Diddy‘s L.A. and Miami homes may’ve made national news … but real estate tycoon Josh Flagg isn’t convinced the legal drama will impact the value of the properties.
We caught up with the “Million Dollar Listing Los Angeles” star … who says Diddy’s residences are still worth a pretty penny — despite being tied to a sex trafficking investigation conducted by Homeland Security.
Josh, an L.A. native, speaks about the Bad Boy Records founder’s Holmby Hills estate, which Diddy scooped up for $40M in 2014. The broker boasts it’s centrally located in the A-list neighborhood and is in good condition … aside from the feds trashing it during the raid.
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He tells TMZ … “If it does go for sale, and it is priced accurately, it’ll sell.”
Though, he admits the L.A.-area mansion likely won’t go up in value due to the “negative stigma” surrounding the estate. However, as Josh tells us, even the most tainted properties can find a buyer … just take a look at the Menendez house.
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TMZ.com
ICYMI … the Beverly Hills mansion where Erik and Lyle Menendez murdered their parents just sold for $17 million in March.
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Fox 11
As for how all the legal drama will affect Diddy’s neighbors? Josh is equally confident the attention on Holmby Hills won’t hurt real estate prices in the long run.
This is good news for Kylie Jenner, who listed her Holmby Hills property for sale before the Diddy raids went down.
Josh’s one piece of real estate advice … avoid any mention of the sex trafficking investigation in any marketing materials.
