LakeWood , CA · Member since 2018 · 268 posts · 331 votes
Ladies and Gentlemen, Let me be the first to honestly say, I think we are all screwed🤷🏽‍♂️ . Yes, Most of us in California did recover Most of April rent. May is going to be questionable. And June well... Let’s just say Let’s not go there just yet. Anyone care to discuss this outcome?? I’m sure there’s going to be alot of states to follow this decision
Rental Property Investor · Lawrence, MA · Member since 2020 · 252 posts · 153 votes
6y
Hi Ricardo,
I agree with you that we are going to get screwed. I do know one thing that we will have to do, and is wait until all this ends. We can have our lives back to normal. We are all in this together, and we will get out of this together. This goes out to all of our BP family.... Stay strong, we will get through this and to any family that has doctors, nurses, firefighters working, my heart goes to you and thank you for what you do everyday! Take care and stay safe Ricardo!
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
6y
Maryland is open ended as far as Stay at Home order , it lasts as long as the State Of Emergency is in effect . The Governor has announced he will be cutting spending drastically .
Now my money is betting we will soon see some rioting in the cities . Especially as it gets warmer . I know a couple Balto City cops and they say they are getting some bad vibes .
Rental Property Investor · New Orleans, LA · Member since 2018 · 716 posts · 555 votes
6y
This is definitely going to hurt @Ricardo P. Looking at the death toll in New York I can understand the decision. It's going to put a huge strain on the economy. Especially if you have a marginal business or not much reserves. These truly are unprecedented times and I don't think there is any great answer to deal with the pandemic.
Contractor · Placerville, CA · Member since 2019 · 85 posts · 66 votes
6y
609 deaths just now reported out of 40 million people. Large "central " orders over very different regional areas. People who are administrators earning a living via the internet essential. Gavin Newsom calls California a "nation state". Gun stores closed, pot shops open. Private builders in Santa rosa not allowed to work, but section 8 builders doing work under the Davis bacon act allowed to work. Government desides who is "essential "
Neighbors encouraged to turn in others. The affluent travel to tahoe while the "working class " and small business told not to work. Controlling 40 million individuals? Life in California.
LakeWood , CA · Member since 2018 · 268 posts · 331 votes
6y
@Account Closed one thing they Also don’t mention is how many people die from the yearly flu/cold. On top of that why not tell the people how many patients recover from this “pandemic”
Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
6y
@Lynnette E. Check out Holle and HiPP for baby formula (European). They seem to be keeping up with demand, and are also top quality formulas (not cheap though).
Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
6y
Originally posted by @Account Closed:
Gavin Newsom calls California a "nation state". Gun stores closed, pot shops open. Private builders in Santa rosa not allowed to work, but section 8 builders doing work under the Davis bacon act allowed to work. Government desides who is "essential "
Gun stores are open. Los Angeles said non essential, but Federal guidelines said essential and they were reopened. Should be same all over state. Construction is still going on. Saw people working on building that "much needed" new Ross store a few days ago.
Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes
6y
Originally posted by @Account Closed:
The stay at home order is in effect in San Diego as well. It was made enforceable a week or so ago. It's illegal to be in a park, trail, beach, etc. People are getting ticketed. The fine is up to 1k and/or 6 months in jail since it's technically a misdemeanor. Just make sure to take advantage of any stimulus programs, income protection, and various government programs in the meantime. Apply for the EIDL and the number of other incentives running through the SBA.
It's a terrible situation we are all in. I'm not going to sit here and say I expect things to magically get better overnight. I'm just doing everything I can to navigate the crazy times we are living in. COVID-19 will have a lasting impact on the world. The zillion dollar question is for how long and how bad?
Funny how different states do quarantine. In TN the quarantine specifically allows car rides, walking your dog, walks outside and on trails, maintaining 6 foot separation between families. But playgrounds are closed because the equipment is not cleaned. The idea is that being outside in the sunshine is healthier, rather than being depressed sitting in your house. State Park buildings are closed, but the boat ramps are specifically open. Lots of my neighbors are fishing every day! Stores are closed though, except grocery and hardware. And restaurants and bars are take out. Our governor was silent on church, but most churches went to social media for services.
But the really bad thing with TN is that MANY businesses are furloughing their employees. So they get no money, not unemployment or stimulus related to unemployment. The companies pre-pay their medical and other paycheck deductions. So these furloughed employees are without any income, and when they return to work the first several paychecks will be repaying their company for the medical policy co-pays. Those folks are in the worse situation I think. Plus there is no guarantee that they will return to jobs at any time. They may end up laid off when the companies close or downsize, but they get no income in the mean time.
Contractor · Placerville, CA · Member since 2019 · 85 posts · 66 votes
6y
@Greg M. Seems like a alot of different and regional enforcement. On Tuesday of last week city of Sunnyvale issued a stop notice to us in person while doing a 2000ft addition to a machine shop. Thursday had stop notice on site work for mobile home park in Amador county. Friday general contractor and I and plumber were told to pack it up in coffey park Santa rosa, homeowners funds tied up in escrow, can't even get a t.o.p. Strip mall site work in placerville now on stop order. No building dept are returning my calls. 2 gun stores closed in placerville but big 5 still open
Lots of cars out now on weekend. Enforcement seems arbitrary. My personal observations.
Rental Property Investor · Grand Haven, MI · Member since 2015 · 71 posts · 108 votes
6y
@Ricardo P.
In my opinion April, May & June are the least of a landlords worries. The even more painful moment will be when restrictions are slowly lifted. There will be no gatherings of 50+ people allowed for quite sometime. Most likely not until a vaccine, anti-viral or herd immunity kicks in. Restaurants, Bars, Stores, etc will see their revenue well below where they were before. Will they still get a govt handout 3-6 months down the road? Or will that next $2T plus bailout be the Fed saying they will be buying SPY and QQQ on any and all dips? Still plenty of unknowns. Prepare for the worst and hope for the best in a scenario
like this. One last note. Forget the 55+ set coming back to this economy. They’re sidelined, and along with them, virtually all of America’s disposable income, until we get a medical breakthrough. That means they’re not traveling, they’re not eating out, they’re not on cruise ships or staying in hotels. Trickle down from this will remain massive for sometime. It is not a 4 or 8 week story.
Contractor · Placerville, CA · Member since 2019 · 85 posts · 66 votes
6y
I agree about the economic pains especially restaurants. Low margin high volume industry. I don't know about your 55+ comment. Check out the average age of a tradesman or contractor. We're mostly silver haired :) I'm 58 and can work circles around most 30 yr olds. I sure hope ageism doesn't become part of the American lexicon because I'm not going down without a fight.
Realtor · San Diego, CA · Member since 2020 · 13 posts · 7 votes
6y
But the liquor stores and dispensaries are still open. Ya know, for medicine! Crazy times ladies and gents...crazy times. Alan, it looks like I can still slide a tic-tac under your knee in your profile picture! I'm sure you've burned through your share of knee sliders :)
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
6y
I am relaxed. I figure that I lost less than 10% of income this month. Next month if I get 80% of rents, I still survive. Imagine owning hotels and operating with less than 10% occupancy.
I get that the damage is being done and the hurt grows every day we are under lockdown.
LakeWood , CA · Member since 2018 · 268 posts · 331 votes
6y
@Brian Ploszay I’m on the same boat as you Are brother. I’ll survive,ill be fine. I might loose alittle respect for specific tenants but it will all work out at the end of the day. There will be light at the end of the tunnel
Real Estate Agent · Camarillo, CA · Member since 2016 · 40 posts · 36 votes
6y
Lmao this is the most negative post ever. Y’all need to cheer up a bit. Focus on what you can control during this time, spend time with your family, stay active. If you’re on here posting it’s safe to say you probably have your health. Without your health nothing else is relevant. Cheer up, stay positive, we’re closer to a vaccine then we were 1 month ago. Turn off the news and turn on a family movie, play some board games. If money is tight don’t be “supporting local businesses”. Support your family and yourself first, you can’t pour from an empty cup. Use this time to read, educated yourself, consider other future avenues for revenue. Let’s learn from this event. Stay positive.
“History teaches us that new opportunities are born from the deepest moments of crisis” - Giorgio Armani
Rental Property Investor · Columbia, SC · Member since 2019 · 38 posts · 10 votes
6y
@Ricardo P. I still say weather the storm, people are paying their rent. If someone isn't paying their rent so soon in this pandemic its because they're really sick but will bounce back. People are still actively looking for places to live so just give it a chance and keep a positive attitude...
Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
6y
There is no stay at home order here in Nebraska, though there have been limits placed on many businesses and those rules are similar to stay at home orders in other states. Many businesses are still open here including gyms as long as there are no more than 10 people in a single room and they are able to maintain social distancing.
The city parks here in Omaha are closed, however you can still bike, fish, exercise and use the trails in them. The police are not arresting or ticketing anyone that I know of for social distancing or having a gathering, but they have asked people to stop. We have very few cases in Nebraska overall, even here in Omaha.
My thoughts on this virus lean toward the side that says we need to get the economy open ASAP. The reasons should be obvious, but it amazes me when I see some people suggest a 12-18 month lock down. We all know that mass poverty and anarchy would be the result.
Investor · San Diego, CA · Member since 2015 · 89 posts · 89 votes
6y
In my view, this was an event that could have been predicted. We have long known that diseases, especially viruses, can pop up from animal sources. We know what happens when a new disease occurs that humans haven't been exposed to. Why don't we have systems in place to handle these things is what I'm wondering. It's not moral to just say "open it back up because... the economy". That's crazy. You can't have hundreds of thousands (or more) die due to exposure, lack of hospital space, and no government response. People will be pissed off and revolt to that as well. It's a lose-lose situation when you don't have systems in place for the inevitable. I would also hazard a guess that this could happen again. It's just a matter of increasing population, globalization, increased habitat destruction, climate change, and exposure to disease vectors. We need to have a way to deal with these things that doesn't put everyone out of work and business.
We have been hit with 20% reduced pay and my husband's possible job loss, and loss of a tenant in our Mexico property. There is no way we can rent out that property now. We're just hoping we don't have no-pay tenants in our other properties. But I'm staying at home because we don't have any other option. If I bring the disease home, I could unintentionally kill my husband who is immune compromised due to chemotherapy. It's just a ****** situation all around.
Rental Property Investor · Los Angeles, CA · Member since 2015 · 73 posts · 55 votes
6y
Starting to feel like Im missing something. In california, most of the newly unemployed will be receiving approx $3,200/ month and a stimulus check of $1200... There should be no excuse to not pay rent in May, even if its delayed.... What am I missing here?
Real Estate Syndicator · Milwaukee, WI · Member since 2018 · 1k+ posts · 907 votes
6y
I agree that the worst is yet to come, from a rent collection standpoint. April collections have been pretty decent for my portfolio, thus far. We are currently at around 80% collected so far. I'm hoping the stimulus money helps with May and June collections.