Dam the Recession

10/01/2020

This is a local attorney's interpretation of the CDC order regarding eviction. Other attorneys are likley to have other interpretations as are different courts. Be careful out there.

When one thinks of housing governmental regulatory agencies, it is doubtful that the first one that comes to mind is the Centers for Disease Control and Prevention (CDC). Effective September 4, 2020, the CDC issued an Order titled “Temporary Halt in Residential Evictions to Prevent the Further Spr...

09/29/2020

Grant has a great story. He doesn't mention the deal I had the opportunity to work with him on. It was a sfh early in his career. It may have been the first time he worked with a private lender. It has to be among the fastest refis ever. Grant's LLC bought the house and I funded it as a refi the next day. I say it over and over because I know it is true--the most valuable part of your journey is building relationships, not just collecting business cards.

Grant with 3 rentals in 2003 and was in and out of the game fast due to lack of experience, personal issues and not knowing how to deal with tenants. In 2014...

09/02/2020

This may trigger another housing crisis if owners of houses where tenants who have not paid rent for many months default on their mortgages and walk away. Since there are fewer jobs available now than in 2009, this meltdown may be worse.

Any eviction moratorium must also come with rental assistance for property owners, the vast majority of which are mom-and-pop investors and are still required to meet their financial obligations even as they cease to receive income on their properties.

09/02/2020

I have heard of people who have structured their businesses so they could claim PPP loans fraudulantly. Some have claimed multiple loans. It is likely that those activities will be investigated eventually. Some have bragged (on Facebook) about how they have done this. (Perhaps they forgot this is a public forum.) I suspect those loans will be scrutnized eventually. It might be wise to pay them back as soon as possible. That may lessen the penalties that are likely to be imposed if their fraud is discovered.

Tens of thousands of loans worth billions of dollars may have been subject to fraud, waste and abuse in the $659 billion taxpayer-funded Paycheck Protection Program (PPP) aimed at helping small U.S. businesses survive the coronavirus pandemic, a congressional panel said on Tuesday.

08/30/2020

The CDC updated their data to show that excess deaths caused by COVID19 alone (without underlying comorbidities) ranged from approx. 3.3-7.2 percent. (Did you see that on the news?) Is that enough to shut down businesses, many of which will fail (or have already failed)? Is that enough to accept the loss of jobs that will result or have occurred (many of which have been masked by the increased unemploment payments)? Is that enough to accept the damage caused to our economy? Is that enough to infringe upon our rights to choose what risks we are willing to take as we live our lives?

Figures present excess deaths associated with COVID-19 at the national and state levels.

08/13/2020

https://milleronthemoney.com/say-no-to-the-fedcoin-scheme-its-a-trap/

At the local convenience store...the clerk said, “We have a coin shortage. We have to round things to the nearest dollar.”

08/12/2020

There may soon be a lot of foreclosured homes on the market. Loans that are in forbearbance have not been forgivin.

As COVID mortgage forbearance plans end, issues are coming to light for some homeowners. Here are a few questions to ask now to avoid surprises later on.

07/21/2020

I hope we don't have another crisis but I have been raising cash and assetts that are easily converted to cash just in case. The last time there was a housing meldown I had a lot of houses that could not be sold easily. I weathered that because the houses were rented continuously and were not highly leveraged, but I was only able to add a few houses to my portfolio. If there is another meltdown I intend to be able to move quickly.

By Lauren Theisen | NEW YORK DAILY NEWS | June 22, 2020 As the coronavirus pandemic continues to keep people out of work and strain savings, the number of homeowners who have missed their mortgage payments has more than doubled in the last few months. According to Black Knight, a mortgage data…

07/18/2020

We are approaching another election cycle. From the tenor of some of the posts I am seeing, it appears we are already in one. I expect that partisan posts will increase as we get closer to the election. I am not partisan. My views are closest to Libertarian but I am not a true believer in any party. I distrust all politicians. I recognize the right of anyone to hold strong views and to post them, but I am tired of seeing posts that express that the poster has true knowledge or that those who do not hold the same views are idiots. I am happy to leave posts up that disagree with my views but not those that contain vitriol. The only way I know to remove the posts is to unfriend the poster. That will mean I will be deleting some of the people I do business with and would like to continue to do business with. I hope those who are unfriended will understand but I am willing to accept the fallout if they do not.

07/17/2020

I give up. I now read text messages but only from people whose phone numbers are already identified in my address book. I only add people to my address book if I have had a phone conversation with them and I might wish to have another. I still prefer email. I will not evaluate a deal that has been sent via text. My experience is that there are almost always too many errors (or important details are missing) when one tries to describe deals via text. It takes me much longer to evaluate deals this way. I must first ask for clarifications. It also shows that one is disregarding my preference. If you must ask for my e-mail address you demonstrate that you may be inexperienced or lazy--you leave a poor impression. It shows you may not be a good partner. Though I do not always provide my e-mail address, it is quite easy to find.

If I do read the text and a response is warranted, I will respond via e-mail. I find trying to type on my phone to be annoying.