Economy Landlord with 24 properties. We’re suffering during Biden’s eviction ban, too and no one is helping.

[second sight]

I don't have a landlord.

Keep trolling tho.

The only way you don’t have a landlord is if you still live with your parents.

Nobody that ever worked their ass off to own something like a house, business or investment properties would say something so stupid.

 

[TriangleMonkey]

The plan to house the homeless comes at a cost of our own homes

 

[plataoplombo]

It's hard to feel sorry for someone renting 24 properties not making as mich as they did last year.... fuck that guy.

Your missing the point here. These policies are screwing over everyone who rents in this country. So really it's more like...fuck these renters.

 

[AWilder]

“15% loss in profit

So he’s still making 85% of the profit he made on rentals for 2019? I don’t see a problem. He’s not going to lose his properties to the bank if he still turning a profit, just less if one

sorry. He might not get to add a 26th property this year. Only a 25th.

Maybe he could try not dying private jet as much to recoup the costs.

are you suggesting he downgrade from a G5 to a G4? Are you CRAZY?!

 

[Rhood]

He has 20 residential properties which could include several high rises, and he's complaining about 4 tenants not paying their bills?

JUST 4?!?!?

How the fuck is he getting all this media attention for only 4 tenants?
And then he gives everyone a sad story about his parents from Cuba and how he can't afford another luxurious plane and 10 extra kilos of cocaine.

 

[second sight]

People that own investment properties are lucky to make 10-15% with everything leased out, most of these tenants haven’t paid rent in a year or so. There is still a mortgage due, covid rules don’t apply to those.

https://www.cnbc.com/2020/04/02/coronavirus-small-landlords-struggle-as-renters-stop-payments.html

 

[BIKES!]

Tucker did a piece on this. Some Dems are naive like AOC unless she wants to also pay the landlords

But it seems the desired effect is to get landlords to sell to gianr corporations

Yeah, giving to giant corporations who are in bed with politicians is the way to Build Back Better. I'm Biden Joe and Message Approve I this

 

[Seano]

Not 15%, but yeah 10% cut due to covid. Company was able to not lay anyone off tho. Managers got 20% cut.
.

Would you have preferred that not happen?

 

[ShadowRun]

Yeah, giving to giant corporations who are in bed with politicians is the way to Build Back Better. I'm Biden Joe and Message Approve I this

You mean giving Amazon the 10 billon $ contract after they were mad about Space X getting it? There is only suppose to be 1 contract in the first place.... nah but screw landlords they can make less money ..

 

[BjPenn2017]

Not 15%, but yeah 10% cut due to covid. Company was able to not lay anyone off tho. Managers got 20% cut.

so I fail to see a problem of someone’s secondary income (he owns a giant engineering firm as well) taking a little 15% hit.

@ShadowRun see above. Lots of people took income hits due to covid. I don’t see why landlords taking a 15% hit is a big deal when they’re still profitable

Landlords having to seek some single family homes so that there’s more available for actual ownership would be a good thing. Renting other than lower income multi unit buildings breaks the supply and demand market of housing.

You know who didn’t take hits, and actually thrived? Big box stores like Walmart and Amazon. Must just be a coincidence the rich got incredibly richer and everyone else suffered.

 

[second sight]

Don’t worry though blackrock is just waiting to step in a buy up all the foreclosed properties for pennies on the dollar when the default starts

 

[Wet Blanket]

The only way you don’t have a landlord is if you still live with your parents.

Nobody that ever worked their ass off to own something like a house, business or investment properties would say something so stupid.

I have a nicer house than you.

 

[ShadowRun]

Don’t worry though blackrock is just waiting to step in a buy up all the foreclosed properties for pennies on the dollar when the default starts

Yea like banks getting houses in 2008 such a beautiful thing

 

[White Whale]

There should be a limit on how much residential property one should be able to own and this person owns quite a few more than what I think that should be.

Bill Gates owns the most farmland in America having around 269,000 acres of land combined across 19 states. I don’t see him giving any of it up and I don’t see many complain about it.

 

[Iron Nick]

Property owners and landlords are one of the first to be summoned when redistribution principles of communism are discussed....and by summoned I mean jailed and/or executed.

Some worrying parallels happening everywhere and most people don’t understand any of it.

It’s like nobody understands history or something.

Unfortunately, there is nothing socialist about "what's happening" in the united states.

 

[Hellowhosthat]

Bill Gates owns the most farmland in America having around 269,000 acres of land combined across 19 states. I don’t see him giving any of it up and I don’t see many complain about it.

I don't see what that has to do with this but I don't agree with that either.

 

[Matsukaze]

But these same people complaining will turn right around the next election and vote the very same people back in office

 

[panamaican]

It's not true that no one is helping. Pretty much every state and county has set up programs to deal with this. The latest Covid bill had funds set aside to deal with this.

Banks and other lenders have been very accomodating with landlords who have come to them. A common solution that I've seen is extending the life of the loan to offset the lost time. So, you have a 30 year loan but the moratorium last 9 months. The bank accepts that you won't pay the mortgage for 9 months and simply tacks the 9 months on to the end of the loan term. They get the same amount of money, you get more time to pay it off.

The entire 2nd half of the article is about educating people about the help that's out there.

 

[spamking]

There should be a limit on how much residential property one should be able to own and this person owns quite a few more than what I think that should be.

 

[Hellowhosthat]

My views on it might be a bit extreme, but I don't think people should be allowed to own more than maybe 5 properties at the most and I don't think people overseas should be allowed to own property to own in a different country.

Stuff like that is why house prices are so ridiculous in line with people's income.