All Forum Posts by: Brian Boyd

A couple of things are going on with this question:

1. Keep the lines of communication open with your tenant; 

2. Offer them a small break on the rent for the month; 

3. There is no pain and suffering for this- this is not a "tort", it is a broken water heater;

4. Always have counsel you can speak with, don't be a penny wise but a pound foolish; 

5. The repair time should not be this long, typically a few days at most. 

Keep talking with them and offer them an alternative, a water heater is not an expensive item unless it is a tankless. Get someone else out there to repair or replace it. 

Good Luck, 

Brian

@Jay Hinrichs - You are a rock star!!!

I hope you are well and healthy.

Best Regards, 

Brian

Ignore her. Not worth your time or effort. 

To all those on BP. Please stay healthy, safe and be well. Talk with your CPAs, Lawyers, and Bankers. We will get through this and we will come out the better for it. 

God Speed.

Brian

@Jerome Myers civil hearings are telephonic until April 1 and evictions are handled by judicial district and local rules of practice. Criminal courts are having video hearings if the defendants are in custody- in my states where I practice.

Lawyers, CPAs, Medical staff and professionals have been deemed “essential.”

Stay healthy and good luck.

@Jay Hinrichs all good points and salient as investors go through this current situation. My wife works in the pharmaceutical industry on the research side and is keeping abreast of the testing. It’s their belief (Big Pharma) that once a test can get to market that rapidly identifies the virus and quarantine can be instituted, the curve will flatten faster.

But I digress, April and May are going to be tough. I have already had a client call about the SBA loan/grant and that may be an option for the investors on this forum since housing is an essential need. Here is the link if anyone wants to consider this option:

Www.disasterloan.sba.gov

@Shashi P. There is no “getting away with it” given this will be a renegotiation of the lease agreement. While evictions are stayed the contract is not stayed and cannot be stayed. No court has that authority. Rents are still owed.

While the current situation has everyone looking at the tenants, those on this forum need to consider how to protect their investments. People on this forum have a large amount of their net worth tied up in these properties.

Does anyone believe their banks are going to let them not pay their mortgages? The money is still owed. This is the same situation but on a smaller scale than the banks. Moreover, when the cure t situation passes, does anyone have the notion that we all won’t go back to work as usual and courts will open and processes start again?

Finally, I hope you stay safe and healthy. Take care of you and yours. We will get through this.

Good luck and god speed.

@Paul Merchant Paul, be safe and stay healthy. Hopefully, this will peak sooner than later and we can all get back to normal. In the mean time, please stay safe.

Call your lenders. See if they will work with you. Our courts have already started hiking hearings telephonically. As things progress and we figure out work arounds we can start adapting.

Good luck and be safe.

@Blaise Nageondelestang You need to take care of yourself and your family first. Stay healthy, stay safe, call your banks and see if they will work with you (likely they will). Start there and all this will pass soon. These are strange times, keep informed and this will pass. Once it passes, you can take action but be safe and take care of yourself.

Very good advice.