All Forum Posts by: Dennis Tierney

I retired 3 yrs ago at 65 1/2 after 35 yrs in a medical career. I started real estate investing (multifamily and single family) 15 years ago to diversify investments but I caught "the bug" and am now 80% in real estate and 20% in stock market. The real estate is our retirement income and it keeps me active. I don't self manage as a choice I made when I started and am glad I don't. I am not comfortable in the current environment as landlords have a target on their back from the government at all levels - local, state and national. We'll see how things turn out when we get on the other side of this pandemic, but, I definitely will be more in favor of less leverage going forward.

@Amer Mallah https://docs.house.gov/billsth...

There's the whole bill for you. Look at page 962 if you don't want to read all 1,100 + pages. Specific enough for you?

@Ricardo P. Hoping that it doesn't pass or if it does hoping Trump will veto it after it is altered some by negotiation and not contacting your representatives to voice your opinion forfeits your right to complain about the results.

@Ricardo P. Look at page 962 of the bill. I believe the eviction moratorium is independent of anyone asking for help.

The negotiations have now begun between the Senate and House on the latest stimulus bill. It is imperative that all landlords and property investors contact their Senators and Representatives to remove the 12 month eviction moratorium in the House bill. If it isn't removed it will ruin the rental business, drive landlords out of the business and ensure a shortage of affordable housing. This is exactly what they claim they want to avoid.

My problem is going to be handing over the reins of the real estate when I either get too old or the estate when I "shuffle off the mortal coil". My wife and daughter have no interest and my son who has some lives 1,800 miles away. I have yet to meet a CFP who has a clue about how to do that without liquidating it and putting it into investments that they do understand, completely out of the realm of real estate. Then they can charge AUM fees.

I agree in it's present form it will not pass. The problem is we don't know what will be negotiated out and what will stay in. It behooves us to try to influence those who may listen that the eviction moratorium is an item that needs to be removed during the negotiations.

If it gets to the senate for any type of negotiation all property investors need to contact their senators to voice their opposition. Silence equals assent.

You're in a tough $ segment to get a non recourse loan. You're right most lenders in that space want a larger amount to loan to make it worth their while. I've had a SDIRA since 2006 and have had several non recourse loans for apartments but to buy single family I just bought all cash. For several of the loans I used a mortgage broker who got the loans from insurance companies. Problem there is they usually won't loan for less than $500K and they have a lot of fees, especially legal.

As I stated in my post several days ago, all real estate investors should have contacted their Representative to vote no. I see Rep. King from NY voted for it. If it stays in and eventually gets passed it will destroy then rental industry. No evictions = no rents.