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All Forum Posts by: Salman V.

Salman V. has started 3 posts and replied 35 times.

Post: Eviction Moratorium v Rent Reimbursement--new take

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20

It gets worse - the new stimulus bill the democrats presented will extend the eviction moratorium another YEAR. 

Value add real estate development will take a big hit. 

Post: BP post got me fired!

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20

BP won't let us change names or delete accounts once we've made them so you can't really protect yourself. I really wish BP would change this.

Originally posted by @Ricardo P.:

@Salman V. if I’m not mistaken I believe there’s like 3-4 lawsuits as of now towards the City,County, Judicial Council and the State. I wonder if that’s enough to get someone moving??


@Wesley W. Well that’s a start. Here in Cali we don’t even have a date on when we can hope to start an eviction process. I wouldn’t be surprised if they prolong this a whole year...

<3

Illinois has finally gotten the lawsuits going too. 

https://news.wttw.com/2020/06/25/landlords-sue-pritzker-over-illinois-ban-evictions

Good luck with the lawsuit - figure out a way to easily get the greater real estate development community involved since it affects everyone. 


Unfortunately right now Class A properties are doing well. It's Class C and D properties that are struggling. Most of them are owned by mom and pop landlords and both parties have no problem screwing the middle class.

Post: Closing on property, cannot get keys

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20

If it’s not vacant and you have an agreement saying the property needs to be vacant do not close.

Post: Closing on property, cannot get keys

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20
Originally posted by @Andrew B.:

Just drill out the locks and install a new lock. You should change keys anyway when you buy it. I’d be more concerned about actually getting in to do a walkthrough before closing. If you do that successfully, get the keys at that time.

 This -  drill out the lock at the final walkthrough (before the closing) and verify it is vacant. If it is you’re golden and you just need another $40 lock set. If there is someone in there you have big big problem since there are eviction moratoriums across the country and it could be a while before you can kick the guy out - where is the place located?

Post: Hereos Act will hurt landlords in a bad way

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20

What action can we take to get them to amend the bill to take out the eviction moratorium?  Write to our senators? Any way we can get more exposure? 

Post: Eviction ban violates our rights

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20

I loved the graph above - you guys might find it useful too.

Post: Eviction ban violates our rights

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20
Originally posted by @Marc Winter:

@Bjorn Ahlblad, it becomes more obvious every day that there is a war raging against the small business people.  Mom and Pop shops destroyed, (by protest/looters not practicing social distancing) landlords being stripped of their constitutional right to due process and unlawful taking our property (rents and security).  

Since the vast majority of landlords in this country are small operations, losing several month's rent by government decree and having no recourse through the courts to exercise our right to protect our own property, many are suffering.

Unfortunately, we are NOT all in this together:  Lowes and Home Depot and Walmart remain open, but the local hardware shop, nursery, clothing store, and restaurant have been forced to close.  Sadly, tragically, many will never reopen.  Dead and gone. 

And when Noah questioned God about building an ark, God said to Noah:  "How long can you tread water?"

 I couldn't have put this better myself. In the smaller suburbs of Chicago the small police forces were all busy protecting the Walmarts and Targets. Those businesses had massive cash reserves, good insurance, and an army of lawyers to make sure their insurance pays.

The small strip mall businesses were left abandoned, many were looted, and store owners had to protect by themselves with guns.

Blanket moratoriums on evictions wipe out even more of the middle class since most smaller landlords in class c buildings are locals. Wiping out even more of the middle class. It also empowers and rewards the most unreasonable tenants too.

Post: Massachusetts Eviction Moratorium Lawsuit

Salman V.Posted
  • Developer
  • Chicago, IL
  • Posts 36
  • Votes 20
Originally posted by @Joe Splitrock:
Originally posted by @James Hamling:

While we have variance in things there seems to be universal agreeance that we need address of our grievances, across the nation in every state, county and city. 

We need class action lawsuits, in every of the 50 states. We need some kind of Landlords Union, it's the only way we will get it done and have the protections we need. It is looooong overdue. I am not a big union person but fact is going it alone isn't working out to well, we were the sacrificial lambs without even a second thought, they didn't even attempt to put any care or thought into the moratoriums for our side and abuse of such. I would gladly pay a monthly due for such a group, hiring a legion of lawyers and lobbyists to get stuff done in our favor for once. 

If they had 1 ounce of respect for landlords, they would have made a moratorium option for the eviction courts, made it a tool judges could use if the conditions of the case meet such, pow, done and easy. No, instead across the board they bound our hands for an undetermined time, one still not known or on the horizon anywhere. And clearly people are a-ok to protest in mass, no idea why it's too "dangerous" to be evicted due to covid but gather in thousands is fine. 

So hope others jump on the lawsuits, we need it in mass. 

 We don't need class action in all 50 states, because not all states participated in this insanity. In fact my governor stated an eviction ban would be unconstitutional and would not be considered. 

As far as banning together (I agree), but ever state has one or more landlord associations. Join those groups and support the local efforts. Landlord tenant laws are state and local. 

 Illinois is also insane and I have the same problem as many others. Sleezy tenants taking advantage of a situation when they are making lots of money but because enforcement isn't there they are not paying rent. Almost everything is open now in IL.

I reached out to the largest real estate lawfirm in IL here (KSN Law) and asked about filing suit against the state for failing to protect property rights. Any other IL landlords want to join me in this lawsuit?