All Forum Posts by: Nicholas LaGatta

@Ladè Baruwa I primarily invest in C/D areas in Atlanta. I have a good property manager that gets tenants. I rarely have any tenant issues.

Hi, DeMarcus. Welcome! I'm a rental property investor, BRRRR practitioner, and a real estate agent specializing in investors, especially those getting started. Please shoot me a message if you're interested in talking more about what you're looking to accomplish. I'm happy to help any way I can.

I've been focused on battening down my financial hatches with a string of refis.  The last one I closed on last week was the last day my attorney's office was going to be open.  After that, they would be doing only drive-through closing, meeting clients in the parking lot.  I believe the Georgia Supreme Court is working on a way for closing to be done by video conference during COVID.  

@David Hulit --- thank you for your response and for the entire thread.  I went ahead and completed the application.  I guess I got the light version without having to upload too many docs.  I realized I have my credit frozen anyways, so once they get to processing the applications, they will need me to unfreeze it anyways.  It's possible I will be long done with my refis by the time they get to me and if they don't I can always delay the application.  

How are you all estimating "Rental Properties (Residential and Commercial) Only - Lost Rents Due to the Disaster"?  I won't really know until after rent is late in about a week.  

Also, I have 2 refinance transactions going on right now.  If I apply and SBA does an inquiry against my credit, won't that raise red flags with my refi bank and potentially cause issues?  

@Michaela G. Uh oh...

As I understand the situation in Atlanta, there is only an official moratorium on evictions for specific city of Atlanta partner organizations (e.g., Atlanta Housing Authority, Atlanta Beltline, Invest Atlanta, etc.).  However, even if the courts, marshals, etc. continue to serve, I doubt eviction would be their priority anyways, so best to make things work amicably like you said. 

https://patch.com/georgia/atlanta/no-evictions-60-days-atlanta-says-mayor-bottoms

I agree, figured so much.  Looking at the Facebook comments, I think most people don't understand this will not apply to them unless they are housed in association with one of those partners.  As far as unintended consequences, I think this could falsely empower folks not to pay their rent, especially those who aren't really financially capable of making catch-up payments, hoping some government entity will bail them out.  Until we understand the full financial implications through the entire value-chain, I hope the city/state/feds are treading lightly until we have the full perspective.  

Original Facebook source:
https://www.facebook.com/keisha.bottoms/

Keisha Lance Bottoms posted this on Facebook, but I'm not clear exactly what it means and what the implications are.  Does this only apply to the "partners" listed in the first paragraph?  Are there broader implications?  What are the unintended consequences here?