All Forum Posts by: Tim G.

Originally posted by @Tim G.:

Originally posted by @Anand S.:

Another one. Down almost $20k for what was looking like a good month.

I'm not debating the merits of the virus, just if others are being impacted. Fortunately or Unfortunately it looks like it's just me.

Sorry to see this is having such an impact to your business, I respect your openness. Often here on BP folks post only about their wins, so I don't believe you are alone. Its that others are not sharing their struggles as openly and we're 2-4 weeks from feeling serious economic pain. 

Instead of downplaying this with anecdotal opinions without any sources and promoting conspiracy theories I challenge people to tell me their predictions of what happens next. If you have such an expert understanding of this pandemic, enlighten us. Please. 

Here's how I see this playing out, hot spot states will become places no one wants to go and they will suffer greater economic impact than states with stricter rules and opening processes. While some states are doing a great job and should continue to open and monitor. Their worlds could come crashing down from visitors coming in and bringing the virus if preventative measures like mask requirements and limitations on group activities aren't in place.

Next up will be more mandatory mask laws and back tracking of openings as states that ignored science scramble to try and contain a virus that is setting new records for the number of reported cases.

June 24th highest number of US recorded cases yet

Florida setting a new record 8942 new cases. 

We will likely see more areas trying to ban visitors from high risk areas, since that's legally hard to enforce its possible vacation rental bans will take place. Hurting vacation rental property owners in areas where the virus numbers are good but need to be protected. 

Hot spot states will see more cancellations, restrictions on movement and businesses closures/limitations. We will see companies making the decision to close, enforce rules and restrictions in states where leadership isn't. A hard financial decision, not to be taken lightly. 

The next month we will see record deaths in hot spot states and likely spread to top performing states from out of towners coming to get away from the virus at home. 

Our situation will be drastically worse in 2 to 3 weeks with new record numbers for deaths for the nation.

I imagine the stock market takes a hammering, its showing signs this week that the party is over. Now the data is showing re-opening is not working well in many areas. Wall St. won't be able to ignore the fact the US isn't handling things well. 

Buckle up. 

One month check in on my predictions, seems strange no one else wanted to share their thoughts on what was going to happen. 

Mask mandates expanded. 

More Than Half of US States Now Have Mask Policies

Gov Abbott Hopes to Avoid Shutdown With Mask Mandate

Closures/business shutdowns expanded. 

Arizona Extends Closures

California Extends Closures

RNC Cancels Jacksonville Event Due to Covid

Record daily deaths and infections 

CDC Forecasts Higher Deaths Over Next Four Weeks

US Hits Record 1000 Covid Deaths for Second Straight Day. United States #1 in Covid Deaths Worldwide. 

Limited Hospital Beds 

Texas Hospital Sends Patients Likely To Die Home Due To Lack Of Resources

Companies enforcing mask rules nationally.

 Walmart Begins Mask Policy

McDonalds Joins Dozens of Other Chains With Mask Mandates

No vacation rental bans that I've heard of. Stock market, doing ok but I think this week is the turning point. 

I appreciate that. I've never actually been there, but flew over a few times en route to CLT. Seems like a solid market for future appreciation. Charlotte is worth betting on. 

That's a cool area, about the only spot I'd leave California for. 

There's talking about it, and then there's being about it. @Kevin McGuire said something that was on my mind. 

I would also like to volunteer my support in the form of advisor/mentor or even for a 10-30 minute phone conversation to get clear on goals/plans. I am available with knowledge and expertise on wholesaling, rentals, flipping, creative marketing and specifically the socal market. 

Please don't be shy, my schedule is wide open these days. If anyone on this thread or if you know anyone let's talk. 

So here we are at page seven. Some trends emerging. 

Countless people of color have responded to this thread, sharing their thoughts and experiences first hand. To help members of this forum understand. But it seems the only ones that matter are responses that allows folks to feel safe and right about their long standing beliefs on racism. 

Anthony's experience is his and valid, but it seems very unusual in an arena where we come to seek advice from a collective group of experts in real estate, the people doing it. That the overwhelming trend of experiences and thoughts shared by other people of color in this thread that there are in fact issues, these responses are ignored and or counted as less than another.. Why? 

I also find it odd that I can come back to this thread, and find such hateful responses that are in some cases 12+ hours old. Violating the community guidelines, are you to tell me that no moderators are reading the posts on here until they're reported? 

Ok let's give them the benefit of the doubt... but I expect much more from a community like BP, both members and moderators. If you have nothing constructive to say, why say anything? 

I took this question as what are YOU doing personally. 

It sounds like the answer from many respondents is... nothing

What is Bigger Pockets doing?  

I commend you for your success, you are proof positive that YOU can build wealth. The data I referenced and problems I am discussing are relative to the present moment and the nation as a whole.

Individualism can be a wonderful thing, but placing expectations on others based on our own abilities does not allow a clear understanding of the struggles and ways that we as a community can acknowledge the disparities and support those who are less fortunate.

The effects of redlining are still felt today in many communities. The average white household has nearly 10x the wealth of a black household in America. Source These systems don't just undo themselves when a rule is changed. 

I'll be honest, I've had a hard time participating on this forum lately. It feels like it lacks compassion and awareness on issues facing our nation with the clear and documented inequalities. I'll always love real estate, but I don't respect the industry in its current existence on BP. 

Personally, what do I do? I admit life is much easier for me as white male than it is for others. I vote for public officials who admit there are issues, who stand with the less fortunate. I operate with compassion with my tenants and sellers and seek to do what is right even if it costs me. For the last decade I've volunteered my time as a mentor for at risk youth via big brothers big sisters and local advocacy groups. It doesn't feel like I'm doing nearly enough, but it's a start. 

Someone has to pay for the $1.4 BILLION just given to the Catholic church in PPP loans. 

Property owners have long been forgotten. This shouldn't come as a surprise. 

This is 100% anecdotal but I'm a long time California landlord and I have bought / wholesaled / flipped 100+ homes in my state. If you screen well, have reserves and work with your tenants on issues. The problems seem to work themselves out. 

I'm current on rent and the one tenant who was late was able to pay the rent from the assistance he got from the state. No complaints here. 

I do like the California fear mongering though, seems to keep folks who operate out of fear in other markets. 

Winners and losers in every market.