All Forum Posts by: Alan Grobmeier

@Mary M., you didn’t read far enough.  Go to section 5, section 1174.10.  ;-)

@Dan H., I don’t think prices will go down more than 10%.  And here is why:

• The fed has said your 401k and real estate are ‘safe’ from price drops.
• Only way to do that is inflation or hyper-inflation.
• Ppl are trying to ‘fight’ the ‘2008 war’.  This will be much different as the fed has injected tons of liquidity.
• Fed has already determined who the winners and losers will be.
  The $600 a week stimulus from the feds is here to stay, at least thru the end of this year.
• Prices won’t drop, but values will drop.  Price your property in filet mignon (Or something other than dollars) and then check it in a year.  Less filet per house.
  
  

Most of us expect deflation and falling prices during a recession, like 2008.  This recession hasn’t decided what it wants to be when it grows up.  And the fed is manipulating anything & everything it can.  Eventually the ppl will figure out that the fed doesn’t have unlimited funds, they just appear to have unlimited funds.  At that point in time the tide will recede and we will see who is wearing swim trunks.  ;-)

@Victor Vella, it’s mostly blue states.  California is trying to roll out State senate bill 828, a very scary piece of legislation.  25% ‘mandated’ rent decrease.  Wowie.  I doubt it would ever pass, and if it did the Supreme Court would strike it down in a second.

They are all saying, ‘I’m Santa Claus’!

https://leginfo.legislature.ca...

@Edward Seid, I bet someone else comes up w something even ‘better’.

No, I’m Santa Claus!

You may be out of a job soon if you are in property management.

@Craig S., I applied for SBA EIDL over a month ago.  I am eligible for $1000, which is about the equivalent of pissing on a forest fire.  BTW, I still have not got the $1000.

If you have a number of properties, how long can you go if NO ONE is paying rent?  I bet it is not long.  ;-)

You CAN apply for 'forbearance'.  That is a classy term that mean when we get back to you, you will owe the bank the WHOLE nut.  Well, if you haven't gotten rent from your tenants, where are you supposed to get this money from?

@Airika Pope, foreclosure is what everyone really wants, except the landlord.  

This will become a transfer of wealth to the 1% like we have never seen previously.  The landlord goes bankrupt, loses house.  Tenant is still in the property when a large company takes over via crony capitalism deal.  Big company forgives tenant balance and everybody moves on.

After all, how many landlords have one YEAR (or more) of reserves per property?  Any businessperson would tell you that is a bad use of ca$h.

@Joe P., what about the ppl that are getting the state unemployment & $600 a week from the Feds and then CHOOSING not to pay rent? 

Have you taken that scenario into consideration?  I bet that is happening a lot more than it is being reported.

Like you, I don't want to put ppl in the street during a pandemic.  I think that is a bad idea for the greater good.  But I seriously doubt that is what is happening in most cases.

The politicians are taking turns yelling, "I'm Santa Claus".  This is just another overreach, IMHO.  

The tenant should need to prove they have no income to avoid an eviction during this time.  The city of Seattle, and state of Washington, is yelling "I'm Santa Claus'.  ;-)

Buckle down people.  This is it!  This is the most unprecidented transfer of wealth in human history.  And if you are not part of the 1%, have boatloads of cash on hand, or access to super cheap money, you WiLL be left behind.  Why?  Because you are not too big to fail.

If your tenant can’t pay the rent, no problem.  For them.  But your bank will foreclose on YOU in a heartbeat and resell your property to some close-connected chrony.

The big will get bigger while the rest go bankrupt.  :-(

@Kenneth LaVoie, ALL the politicians are taking turns saying, "I'm Santa Claus".  I would not worry about it too much unless it happens.  Much of these "I'm Santa Claus" types don't realize you are treading on someone else's rights.  It would never pass the supreme court, IMHO.

Besides, the Feds can't pay $600 a week unemployment AND your rent.  At some point it becomes unmanageable.  ;-)

Alan

@Christopher Smith, I can't see it getting by a supreme court challenge.  But the damage will already have been done.  I doubt many have 25% profit or could afford such a 'haircut'.

I think this is the state legislature saying, "I'm Santa Claus, not the governor."  ;-)

Alan