All Forum Posts by: Michael Lenahan

@Michael Lenahan,

One school of thought is we're worrying about something that not happen, then again, did we ever expect to live in a country where our contracts could be null and void?

I have a tenant who has not paid since February. I started the eviction process and then Covid hit. Now, because I have a fannie loan, I can't continue the process until July. Who knows how long the courts are backlogged.

So my lease is pretty much null and void since I cannot execute the eviction because the law states I cannot.

We can't just sit here like pigs to the slaughter. We need to reach out to our congress representatives and senate representatives and let them know we're neither huge corporations nor fat cats but rather ordinary people and they are jacking with our livelihood.

How do you evaluate what improvements are profitable for rental units?

Assuming everything is repainted & clean, what is a good framework to understand the impact of:

-new kitchen countertops 

-bathroom updates

-landscaping 

-etc



What are some renovations you’ve done that have paid off?

What was a waste of $$?

Why would this change his believes about individual liberties?  

I started a cash out refinance right before the Coronavirus craziness happened and was told today that the lender wouldn't be able to close on it now due to my duplex investment property being a property type that they couldn't pass their "net-tangible benefit guidelines" with.  Just told me an hour ago via text and needless to say, very upset as I feel I have been strung along for the past month.

Moving forward, are home prices going down/Did I miss my chance to refinance and pull cash out for next property?  I only have this one property and was really banking on money from this deal to buy my second.  Or do I still have time?

Looking for an update...some have said that SBA said it would be 10 days to hear from them from the time EIDL was applied for.  Has anyone who applied for EIDL and it's been 10 (working?) days heard anything from the SBA?  Or gotten the $10K interim money?