Will Wilson
Investing Out-Of-State with Property Management
30 March 2020 | 16 replies
It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.
Brian Tremaine
Looking for advice in Covid-19 era
20 March 2020 | 1 reply
Here's the rules on San Jose's current eviction moratorium: https://www.sanjoseca.gov/your-government/departments-offices/housing/eviction-moratorium It sounds like you could possibly proceed with a valid eviction based on what you wrote, but I don't think anyone could say for certain since there's a number of reasons the tenant could claim she was impacted by COVID-19 and no one here knows what she could/would try to claim.
Andrew Gingerich
2018 Expenses on a Property I didn't own until early 2019
20 March 2020 | 4 replies
I did not claim them on my 2018 return.Thanks
Michael Anderson
Continue with closing or back out?
21 March 2020 | 28 replies
The news reporting that claims jumped 300% this month doesn't take into account that we had historically low unemployment to being with.
Berlinda Luong
Property Manager Skipped Town
20 March 2020 | 4 replies
If so, you can file a claim against the bond.
Chris Lopez
Denver Coronavirus updates and Q&A
16 April 2020 | 72 replies
We think it is important to look at Denver real estate in 5 day increments since corona virus became real (I'm saying March 12th, which is when the NCAA canceled the tournament.)GETTING HELP NOWNYTimes - Money MattersUnemployment - law expires 12/31States can access when they have 10% rise in unemploymentUnemployment is typically 45% of lost incomeMost states pay 26 weeksDon’t have to lose your job, can get it if: you are quarantined, furloughedGetting unemploymentHave to have been at job for 30+ daysEligible for 2 weeks paid if ill or quarantined or caring for sick family memberPart time workers can get average of normal 2 week salarySelf-employed (gig workers, etc) must calculate daily average and claim as tax creditWho is exempt:People that work at companies that employ 500+ peopleCompanies with fewer than 50 people can ask for an exemptionEvictions + ForeclosuresMoratorium right now on bothSuspended for 60 daysThis includes foreclosures that are in processTaxesCan hold off on paying (without penalty) until July 15th if:You owe less than $1 million to the federal governmentIf you are getting a refund, it will come in a normal time frameMortgagesFind out who owns your mortgage + what programs are availableRequest Assistance (Fannie Mae)Small Business ReliefSBA Economic Injury Disaster LoansSmall business loans up to $2mil3.75% int rate for businesses | 2.75% for nonprofitsDenver Small Business ReliefDENVER RE TRENDS - please note you should watch Seattle, as what happens there will likely come to Denver and Colorado SpringsPulled data for detached/attached homes within 6 miles of a client property in Sloans Lake$350-$500KMore properties went under contract in past 5 days than in two other 5 day increments we recorded (11-15, and 16-20 days out)35 of those were on the MLS for 6 or fewer days$500-$700KSimilar to above, 5 days out is beating number of houses that went under contract 11-15 days out and almost the same as 16-20 days outCitywide: 2.4 homes were falling out of contract/day in March. 5.8 for Feb. 2.7 for Jan.$800-$1.2Mdown from 5 day increments before, but not significantly and a small data set
Ebi Amiri
Rent Moratorium - Our options as Landlords
21 March 2020 | 5 replies
Please feel free to share with me your thoughts on this approach.If reached out by a tenant, I would submit them a letter that per the moratorium, a late payment should be "due to a loss of income or substantional medical expenses, caused by COVID19 pandemic."
Ebi Amiri
Eviction Stop HUD - Our options as landlords
20 March 2020 | 0 replies
Please feel free to share with me your thoughts on this approach.If reached out by a tenant, I would submit them a letter that per the moratorium, a late payment should be "due to a loss of income or substantional medical expenses, caused by COVID19 pandemic."
Natalie Cloutier
Coronavirus: email to send to your tenants
14 April 2020 | 160 replies
The nurses, gardeners, clerks, artists and teachers you claim are losers, living paycheck-to-paycheck, not saving - pay your rent and so help you acquire the wealth you are achieving now as an investor.
Steven Griff
Investing in my first rental property (House Hacking/Duplex)
21 March 2020 | 4 replies
The seller countered and stood firm on his $95K list price, claiming that he will be breaking even at this figure and that the property will appraise for higher.