Latest Coronavirus - Yikes

#77,301
#77,301
2020 as a whole will be one of those years where there are documentaries made about it and it is remembered as a cultural phenomenon.

Covid, protests, BLM, fires, elections, fake news, hurricanes, social unrest...the whole world is nuts right now.
 
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#77,308
#77,308
IMG_20200918_014602.jpg
 
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#77,316
#77,316
USAFgolferVol said:
It's the nature of science for conclusions to change when dealing with an unknown
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When dealing with the unknown science doesn't make conclusions but reverts to probabilities. For example human contributions to climate change aren't completely proven but the probability is overwhelmingly high.
 
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#77,317
#77,317
ABINGDON VOL FAN said:
Very few landlords are living paycheck to paycheck like their renters. It’s a good policy in the short term. If the economic downturn continues until next year of course even the landlords will need help. We all will.
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I may be the only owner/landlord routinely posting. With all due respect you neither have no idea how I live, nor do you know how long I can remain economically solvent.
I rent 5 properties. 4 single family homes and 1 duplex. Every month I have expenses unrelated to tenants...mortgage, insurance, property taxes, and maintenance. I also have expenses (marketing, repairs, income taxes, and eviction processes) related to tenants. The expenses march on every single month whether or not I receive rent. Neither the city nor the county have offered to waive my property taxes if my tenants' rent are waived due to covid.
When the crap hit the fan in March, I called my bank and was able to secure a 90 day deferment of mortgage payments. The interest continued to accrue. 2 of my 5 propertied had to go to reduced rent. I was able to do that for 3 months only because I got a deferment from my bank.

Assuming all my expenses were unchanged:
If all tenants paid nothing, I would be insolvent within 60 days. If all tenants paid half rent, I could make it 6 months before bankruptcy. These are the margins. This is my reality. For full disclosure, I only have 35% LTV currently.
 
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#77,319
#77,319
McDad said:
I may be the only owner/landlord routinely posting. With all due respect you neither have no idea how I live, nor do you know how long I can remain economically solvent.
I rent 5 properties. 4 single family homes and 1 duplex. Every month I have expenses unrelated to tenants...mortgage, insurance, property taxes, and maintenance. I also have expenses (marketing, repairs, income taxes, and eviction processes) related to tenants. The expenses march on every single month whether or not I receive rent. Neither the city nor the county have offered to waive my property taxes if my tenants' rent are waived due to covid.
When the crap hit the fan in March, I called my bank and was able to secure a 90 day deferment of mortgage payments. The interest continued to accrue. 2 of my 5 propertied had to go to reduced rent. I was able to do that for 3 months only because I got a deferment from my bank.

Assuming all my expenses were unchanged:
If all tenants paid nothing, I would be insolvent within 60 days. If all tenants paid half rent, I could make it 6 months before bankruptcy. These are the margins. This is my reality. For full disclosure, I only have 35% LTV currently.
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Yeah but you're the WHITE MALE ONE PERCENT so **** you.
 
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#77,324
#77,324
Any lockdown past the first month or so of this thing is just plain Fn stupid. Everybody that will die WITH this or get sick OF it going to no matter what we do and there is no evidence of facilities and infrastructure being overwhelmed.

Guarantee this magically ends soon after the election because even the bro’s at this point can’t sell it anymore.
 
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#77,325
#77,325
McDad said:
I may be the only owner/landlord routinely posting. With all due respect you neither have no idea how I live, nor do you know how long I can remain economically solvent.
I rent 5 properties. 4 single family homes and 1 duplex. Every month I have expenses unrelated to tenants...mortgage, insurance, property taxes, and maintenance. I also have expenses (marketing, repairs, income taxes, and eviction processes) related to tenants. The expenses march on every single month whether or not I receive rent. Neither the city nor the county have offered to waive my property taxes if my tenants' rent are waived due to covid.
When the crap hit the fan in March, I called my bank and was able to secure a 90 day deferment of mortgage payments. The interest continued to accrue. 2 of my 5 propertied had to go to reduced rent. I was able to do that for 3 months only because I got a deferment from my bank.

Assuming all my expenses were unchanged:
If all tenants paid nothing, I would be insolvent within 60 days. If all tenants paid half rent, I could make it 6 months before bankruptcy. These are the margins. This is my reality. For full disclosure, I only have 35% LTV currently.
Click to expand...
In a second post I stated some landlords should get relief but times are tough for all now. I am 100% for opening the economy completely regardless of which direction Covid takes. We will be third world status in 2 years if we don’t.
 
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