All Forum Posts by: Account Closed

Funny. What about Clorox products, Hasbro games, and home office equipment?

@Jason Allen I've seen the photos online of the people that have hoards in their garages. One woman has 48 large cases, another woman 65 cases. Once the hoarders slowdown or stop the purchases, the shelves will start to fill again.
Yesterday at the Walmart near my office, I asked the store Manager how often are they getting deliveries, he said daily, they usually sell out between 10-11am.

Granted I live in a more civilized neighborhood where the hoarding isn't as insane as it is in Los Angeles where my parents live.

Take action quickly while the demand is there

Very creative thinking.  You may want to embed the following calculator into your metrics to help the consumer decide how many rolls to purchase: 

Online Toilet Paper Calculator: A simple calculator to determine how much toilet paper you need to survive the pandemic

Was supposed to close on a 4 plex Friday 3/20.  Final closing docs were late getting out to me but were signed on 3/19 evening and shipped the next morning.  Disbursement date on the docs was 3/20.  The docs did not arrive in time to title to close on 3/20, so I got a 2 business day extension to close (3/24).  As of this morning, everything was set to close today according to title.

As of an hour ago - I received an email and a call from my lender that they were suspending funding to all loans because of COVID19, including my file.  I am going to lose this deal and wanted to know my rights here (if any) for legal action.  I have never heard of a situation where I am cleared to close, final docs are signed, and the lender just refuses to send the wire.  Any thoughts out there what I can do?

A fixer upper just came on the MLS in my area. It looks like it has great potential but I'm worried to pull the trigger on my first flip during a global pandemic. What are your thoughts?

As if we didn't have enough BS to deal with right now... With the mandatory closure of strip clubs in Florida and elsewhere, strip club owners and regulars have resorted to renting Airbnbs to continue their operations.  It happened last night at one of the properties we manage.  Needless to say, today will be spent disinfecting and making a list of every single item in the house that was damaged to file a claim with Airbnb.  Be sure to screen any last-minute bookings that come in over the next couple of weeks!

MODERATOR NOTE: In appropriate images have been removed.

Cameras are against the rules other than on the FRONT of your property. The back of the property including the yard/pool/roof deck is considered living space and this is not allowed.

also.... I don’t see any rules being broken here? What’s the issue? People aren’t allowed to drink in bikinis at your property? Sounds like a boring vacation. 

I’ve said it 1000 times. If you get in the habit of watching your cameras.... you will never succeed. It’s best to not know. 

I am perpetually game planning future moves and this exercise inevitably requires taking a position on how the near future will unfold and the best way to benefit. I am interested in hearing what BP users think is about to unfold. Here is how I see it:

Stimulus provides very temporary tenant relief. April bad debt spikes to 5-15%. 

By mid April the banks tighten lending. Bridge debt disappears. 60-65% LTV becomes norm. DSC minimum over 1.5. Cash out refi impossible to get. Multiple appraisals required. Frozen capital until the market resets to new normal.

By summer economic vacancy of 15% becomes the new normal.

Vegas condos in trendy hotels like Signature MGM, VDARA, Palms are selling for $150-250k.

Hospitality assets will be trading on ten-x auctions and $1M will buy you a 100 key Quality Inn in a decent metro like Tucson, Houston, etc.

Multifamily holds on the longest as operators scale back cap ex and race to the bottom on concessions, rent price, etc.

Retail strip centers in urban sprawl suburbs sit vacant no debt market or tenancy demand. 

Syndicators that purchased in last 24 months in "hot growing" markets like Vegas, PHX, at 3.5% cap rates etc get cleared out by 2021. No point to run large capex value adds without the rent bump but can't pay mortgage without the rent bump = disaster. There will be a whole class of very disappointed investors. 

2019 Hottest SFR markets will become worst performing by 2021. Homeowners get bailed out and are allowed to refi and ride out job loss.

Media pins economic disaster on Trump, Biden gets elected and quickly passes stimulas #2,3,4.

Hoping none of the above turns out true but I've seen this movie before. 

I am perpetually game planning future moves and this exercise inevitably requires taking a position on how the near future will unfold and the best way to benefit. I am interested in hearing what BP users think is about to unfold. Here is how I see it:

Stimulus provides very temporary tenant relief. April bad debt spikes to 5-15%. 

By mid April the banks tighten lending. Bridge debt disappears. 60-65% LTV becomes norm. DSC minimum over 1.5. Cash out refi impossible to get. Multiple appraisals required. Frozen capital until the market resets to new normal.

By summer economic vacancy of 15% becomes the new normal.

Vegas condos in trendy hotels like Signature MGM, VDARA, Palms are selling for $150-250k.

Hospitality assets will be trading on ten-x auctions and $1M will buy you a 100 key Quality Inn in a decent metro like Tucson, Houston, etc.

Multifamily holds on the longest as operators scale back cap ex and race to the bottom on concessions, rent price, etc.

Retail strip centers in urban sprawl suburbs sit vacant no debt market or tenancy demand. 

Syndicators that purchased in last 24 months in "hot growing" markets like Vegas, PHX, at 3.5% cap rates etc get cleared out by 2021. No point to run large capex value adds without the rent bump but can't pay mortgage without the rent bump = disaster. There will be a whole class of very disappointed investors. 

2019 Hottest SFR markets will become worst performing by 2021. Homeowners get bailed out and are allowed to refi and ride out job loss.

Media pins economic disaster on Trump, Biden gets elected and quickly passes stimulas #2,3,4.

Hoping none of the above turns out true but I've seen this movie before.