How does the $6 Trillion help you as investor

Rental Property Investor · Manchester, NH · Member since 2019 · 19 posts · 7 votes

Interested to know how the Coronavirus stimulus package helps you as investor.

Also, tenants can’t pay rent and investors can’t pay mortgage. Is the real estate market going to crash again? Worst than the last one?

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Kyle J.

Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes

@Russell Brazil It’s a $2 trillion dollar package but you gotta add the wholesaler fee on top of that.

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Where did you come up with the $6 trillion figure?
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Kyle J.
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
6y
@Russell Brazil It’s a $2 trillion dollar package but you gotta add the wholesaler fee on top of that.
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Eric X.
Real Estate Agent · Naperville, IL · Member since 2014 · 196 posts · 130 votes
6y
As an investor? It helps that my tenants will get a bit of cushion for rent the next few months. Besides that, doesn't do too much for me as an investor. Does help quite a few people on unemployment and those that last their jobs...but it really isn't that much money.
Wait and see game to see how the virus and economy reacts in next 4-6 months.
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Nitanga Jean De Dieu
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Rental Property Investor · Manchester, NH · Member since 2019 · 19 posts · 7 votes
6y
@Russell Brazil
2 Trillion. 6 trillion has been trending on my timeline.
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Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
6y
@Nitanga Jean De Dieu. This stimulus money doesn’t help the average investor very much. If you need the government to bail out your investments you’re gonna be disappointed
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Carmen Alvarado
Rental Property Investor · Dracut, MA · Member since 2020 · 24 posts · 4 votes
6y
@Caleb Heimsoth AMEN‼️
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Robert C.
Investor · San Francisco, CA · Member since 2016 · 338 posts · 444 votes
6y
@Russell Brazil, $2 trillion is what passed. I believe the $6 trillion is being tossed around as what someone from the Fed said it will actually take to get through the crisis. Don't quote me on that though - I've been absorbing a lot of random news snippets these past couple weeks!
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Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
6y
It take the 6triliion and put 20% down on some homes in Ohio worth 300 Trillion, then cash out refi my 6 trillion and do it again of course!
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Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
6y
It take the 6triliion and put 20% down on some homes in Ohio worth 300 Trillion, then cash out refi my 6 trillion and do it again of course!
0 Reply
Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
6y
Originally posted by @Nitanga Jean De Dieu:
Interested to know how the Coronavirus stimulus package helps you as investor.
Also, tenants can’t pay rent and investors can’t pay mortgage. Is the real estate market going to crash again? Worst than the last one?

Not much. Interested to see what happens. All of my tenants here in Columbus, Ohio have been paying rent so far.
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David H.
Rental Property Investor · Portland, ME · Member since 2019 · 160 posts · 231 votes
6y
@Nitanga Jean De Dieu
There is a provision in the bill referred to as:
“Emergency Disaster Loan Grant” on page 68-69
Which adds to the current EIDL loan, which rental property owners can apply for, the ability to request up to $10,000 in an advance, paid in 3 days, after application has been made.
Even if the applicant is denied the loan they may keep the $10k grant and do not need to pay said grant back. It’s essentially a free $10k and it’s going to be quick. If it is implemented that is.
They allocated $10 billion for this grant program, so essentially the first 1 million who ask for it get it.
It’s not in effect yet, but when it is, I believe it is the best I’ve seen for smaller property owners affected by the virus.
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Nitanga Jean De Dieu
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Rental Property Investor · Manchester, NH · Member since 2019 · 19 posts · 7 votes
6y
@Remington Lyman
Glad your tenant have not stopped paying the rent. Hopefully this money does get to small investors who have been affected
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Nitanga Jean De Dieu
OP
Rental Property Investor · Manchester, NH · Member since 2019 · 19 posts · 7 votes
6y
@David Hulit
Thanks David. I have a friend who recently purchased a duplex and both his tenants have lost their jobs and he doesn’t know what to do if they don’t make payments. I will definitely have him check that out.
0 Reply
Jill Iwanski
Rental Property Investor · Marshfield, WI · Member since 2019 · 18 posts · 37 votes
6y
@David Hulit
How and where do we apply for this grant loan?
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Max T.
Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
6y
@Remington Lyman
Do your tenants normally pay mid month?
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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
6y
Originally posted by @Max T.:
@Remington Lyman
Do your tenants normally pay mid month?

Beginning of the month
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Max T.
Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
6y
Originally posted by @Remington Lyman:
Originally posted by @Max T.:
@Remington Lyman
Do your tenants normally pay mid month?

Beginning of the month

So how do you know that your tenants are still paying? We haven’t hit the first yet and back on 3/1 we weren’t in this mess yet.
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David H.
Rental Property Investor · Portland, ME · Member since 2019 · 160 posts · 231 votes
6y
@Jill Iwanski
Hi Jill, the Emergency Disaster Grant which is function of the SBA EIDL loan has not been implemented yet. The grant portion of the EIDL loan was just signed into law on Friday. It will likely take a week at least to get out into place on the website.
The website will likely be the same as it is for the current EIDL as it is an advance request portion of that process.
The following is the site to go to:
Disasterloan.sba.gov/ela
Again, the grant portion of this is not live yet.
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Mason Hickman
Real Estate Agent · Sandwich, MA · Member since 2014 · 974 posts · 636 votes
6y
@David Hulit
Thanks for sharing the information on this program. Did you read the bill and the language inside it and if there will be asset or income stipulations? I’m trying to find a copy of the entire bill online but have not been able to find one easily.
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John Daniels
Rental Property Investor · Gilbert, AZ · Member since 2017 · 40 posts · 23 votes
6y
@Nitanga Jean De Dieu
Well we should get $2400 as a couple and $2000 with the 4 kids-$4400 as a partial down payment on my first rental property!!
0 Reply
David H.
Rental Property Investor · Portland, ME · Member since 2019 · 160 posts · 231 votes
6y
@Mason Hickman
Hi Mason, I did read the bill and this language is in there on page 67-68.
No income restrictions on this particular grant as far as I could tell.
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Mason Hickman
Real Estate Agent · Sandwich, MA · Member since 2014 · 974 posts · 636 votes
6y
@David Hulit
Can you post a link, please?
0 Reply
David H.
Rental Property Investor · Portland, ME · Member since 2019 · 160 posts · 231 votes
6y
@Mason Hickman
Unfortunately I am unable to share the actual bill.
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Janelle Hicks
Carlsbad, NM · Member since 2017 · 40 posts · 10 votes
6y
Anyone considered taking $$ from their 401k? I know it's a bad time to take it out due to the stock market dive, but with the 10% penalty removed I'm tempted. I think the penalty is removed through December? So maybe I could wait until then and see if the market goes up. I know it said you must have a hardship related to the disease, I think probably it won't be that difficult to prove that. Or a loan might be a good option too. I am 32 and expect to be living off my rentals long before retirement age, and it would make things a lot easier to have access to the cash. Anyone else thought about this? I haven't decided to do anything yet but I've been thinking...
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John Dennis
Rental Property Investor · New Orleans, LA · Member since 2018 · 23 posts · 6 votes
6y
@David H. Do yo know if you can apply for the SBA EIDL per property even if they are under one LLC?
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