All Forum Posts by: Keith C.

Interesting thread , as  a SuperHost this pandemic taking a chunk out of my cashflow , but  there is an old expression  '  This too shall Pass '  . I pray for  all Hosts that we  have enough standing to survive the next few months & that things should be back to normal.

Perhaps less competition from those who could not keep afloat and Definitely from those who were planning on entering the STR arena> I think in the long run those that stick it out will be better off ..

On the Flip Side , Payback for AirBNb founders and early investors is a b__h .. AirbNB  likely just had tens of billions in valuation wiped out  from their eventual IPO  --.. ( think WeWork IPO ) Oh well you snooze you loose , I know there was ' talk  ' of possible shares being made available for Hosts - but I highly doubt that would ever have happened , too much paperwork, none of the other service platforms like Uber Lyft ever gave participants any shares and their investors would never allow it..

Logically AirBnB valuation just shaved off 10 -20 Billion dollars. I cant see how any bank with their investor pool wont be holding back on top valuation. It wouldn't be fair to compare this new pandemic / AirBNB matter to what happened to WeWork IPO but investors will look harder into numbers and  scenarios that can occur down the road.. AirBnB  founders and  early stage investors just lost their big ticket cash out tickets ,,Perhaps when it does go IPO in  a few years now its at a more realistic valuation .

@Kerry Baird amazing post , however as someone posted these Non QM lenders just got put on hold a few days ago after Trump announced tenants and borrowers can ask for an extension on rent and loans.

This put those hight LTV & DSCR lenders on absolute notice that it's going to be rough sailing ahead . many of those lenders will be closing shop and definitely revisiting guidelines if they survive the shakeout - That Sucks for me because I Broker for many of them ,

I had to stop taking applications for now.

I hope it all works out , when the dust clears there will be New Programs available from some of these or some new lenders looking to get in .

All stay in touch as the non conventional mortgae lenders saga unfolds .

@Rachel Hughes it sucks that Airbnb and VRBO is putting the entire Covid 19 loss on the owners. It would be nice if they stepped in and said “ gee we see we just cancelled 10k In bookings this month “from you so we are giving you a credit going forward on all your reservations” or “ we applied is a 5% loss mitigation credit”.

With the platforms it’s a one way street with any losses always hitting the hosts first and any credits getting to hosts last.

In fact Airbnb and VRBO hold reservation fees for months at a time . nice free money for them on our back .

Please take Note :

Landlords who have non Fannie or Freddie loans may find themselves stuck between a rock and a hard place . The govt requires All landlord’s to allow tenants extensions in making rent payments -

However if they have a loan with a non regulated lenders — the lenders don’t have to oblige.

Only conventional loans under government guidelines are required to allow borrowers mortgage extension.

For any borrower who heard from from a servicer that they don’t have to pay and they will not be marked as late. — The borrower needs to understand other terminologies used by servicers reporting to credit bureaus, such as “Paid not as agreed” etc.

All Borrower should get something in writing from the servicer indicating that their will be no adverse reporting whatsoever.

The next few months will certainly get interesting

@Deneuve B.i see some people are Doing real well with multiple offers , On a whole

Logically the market will likely soften as their is great uncertainty in the marketplace , banks are allowing delayed payments , courts are not in sessions to force foreclosure and evictions , there will be a great backlog and for those who are Patient , they will be able to find some good deals that will appear in the market place , If I was buying last week I would want a discounted price on properties especially those with Tenants.

Landlords who have non Fannie or Freddie loans are stuck between a rock and a hard place . The govt requires them to allow tenants extensions to make rent payments - their non regulated lenders don’t have to oblige. only conventional loans under government guidelines are required to allow borrowers their own extensions

This will certainly get interesting

@Jhon Restrepo Iv been buying shares in buys Indexes like DIA , SPY, QQQ , over the long term indices always head higher with less risks of individual companies.

I bought some ROKU at 67 last week , it was way oversold.

Of

@Frank Wong BA is not going to Zero,, BA is one if the primary’s govt defense contrcator . It is not just another company like GM , ford or sears , its critical to self defense and source for many global defenses.

It will find a bottom and financing and head back up as it keeps ranking in profits as it has down for the last 50 years

Why not make it virtual like many other meetups are doing now 

This is just the beginning of a longer period real estate sell off. Things always get worst before they get better .. IE :  Most Lending programs offering the Non traditional loans with no docs or limited docs just got put on hold . My firm has informed us nothing new aloud at this time . Anything in the pipeline should close but nothing new in the door . 

This event will put great pressure on the RE markets as lenders & banks evaluate how to contain risks from a likely recession . That sucks for me as lender but anyone with Good docs and credit will still qualify for loans, others with records not as pristine will have to find higher priced private money or stand on the sidelines or figure out if tenants stop paying rent if they qualify for any program . 

I have a feeling many Hard Money lenders will need to start foreclosing on their money thats out on the street  for months to come. If the many flippers cant finish a project or flip for profit -- HM lenders will try to unload properties  once they foreclose and put additional strain in the marketplace.. Think of Dominos tiles --and not the pizza shop