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

[Bald1]

That's exactly what the goal is. Warren buffett talked about doing this year's ago. I bet once they've acquired whatever percent them and the pelosi types have agreed on they'll get bailed out for lost rents.

This pandemic has been a godsend to large consortiums. The Home Depot's. Amazon's and Walmarts had record years while smaller outfits had to close shop. And the one racket that's set to also make record long term profits is the one we're allowing to dictate the terms of shut downs and making vaccination a subscription model of business. A miraculous coincidence how those most likely to profit have the most say in policy.

At least the black market is thriving.

 

[jefferz]

boo hoo i own 24 properties...........

yeah no sympathy and no comparing to struggling families...

$10 says his management company got a big PPP loan and he layed off his staff anyways.

 

[LS1Rx7]

Small landlord here, own 10 units/6 properties.
Went from critically unemployed 2008-2013
To
Self employed 2013-2019
To
Property investor starting 2018 and went full time in 2019.

Institutional investors are just a by product of a bigger issue with housing and ever other hard / unique asset, that is inflation from money printing, keeping of rates artificially low.
The american house is by nature scarce, because every major metro doesn't allow as much building as needed,
Government backed loans (same black plague affecting higher ed)
Governent Politics putting into practice laws even after they've been deemed illegal
Government keeping rates low and liquidity flowing when pandemic hits and pumps 10 trillion into the market, giving free PPP money, and EIDL grants to the tunes of hundreds of thousands to millions for even small businesses.

Think about your local successful small corner business, and realize they likely got an extra million dollars put into their bank account tax free this year.
When that many people get that much extra money, at a fixed rate, know that they're going shopping, and rich use money to make money.

Whatever covid took away in rents, it made up for it 100X in stimulus money and inflation of the value of my properties.
Thats the real problem, the government is screwing with people's income and then coming to the rescue with debt and stimmy checks. Putting more and more of America in a position to be dependent on them, so they can ultimately control more of the market.
Same idea as Google giving services away for free until they run all their competitors out of the market and then do as they please.

 

[sherdogwantedtonamemekiki]

“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 of one

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

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

Is that him?

 

[wonderbread]

Julio Gonzales who has been a landlord for 20 years. Has seen a 15% loss in profit. Residents not paying rent essentially leads to free living, while landlords still have to pay for taxes, utilities and more.

As a landlord, you can’t pay bills, it’s affecting credit, your losing property, and now you are going to lose everything.

People have been giving unemployment plus the stimulus they gave out last year they couldn’t pay some bills.

BlackRock and other multi billion dollar companies are going to own everything if nothing is done about this.

https://www.businessinsider.com/lan...n-cdc-renters-evict-julio-gonzalez-2021-8?amp

The risks of capitalism make some men cry...

 

[plataoplombo]

Small landlord here, own 10 units/6 properties.
Went from critically unemployed 2008-2013
To
Self employed 2013-2019
To
Property investor starting 2018 and went full time in 2019.

Institutional investors are just a by product of a bigger issue with housing and ever other hard / unique asset, that is inflation from money printing, keeping of rates artificially low.
The american house is by nature scarce, because every major metro doesn't allow as much building as needed,
Government backed loans (same black plague affecting higher ed)
Governent Politics putting into practice laws even after they've been deemed illegal
Government keeping rates low and liquidity flowing when pandemic hits and pumps 10 trillion into the market, giving free PPP money, and EIDL grants to the tunes of hundreds of thousands to millions for even small businesses.

Think about your local successful small corner business, and realize they likely got an extra million dollars put into their bank account tax free this year.
When that many people get that much extra money, at a fixed rate, know that they're going shopping, and rich use money to make money.

Whatever covid took away in rents, it made up for it 100X in stimulus money and inflation of the value of my properties.
Thats the real problem, the government is screwing with people's income and then coming to the rescue with debt and stimmy checks. Putting more and more of America in a position to be dependent on them, so they can ultimately control more of the market.
Same idea as Google giving services away for free until they run all their competitors out of the market and then do as they please.

If you get a chance there's a YouTube channel called one rental at a time you should watch. The host analyzed 50yrs of housing data starting in 1970 - 2020. Will probably reaffirm what you already know but it's nice to know the #'s. There's definitely some strong similarities from the late 70's early 80's to today. It's nice to know some early warning signs of things to come.

 

[Bia]

Julio Gonzales who has been a landlord for 20 years. Has seen a 15% loss in profit. Residents not paying rent essentially leads to free living, while landlords still have to pay for taxes, utilities and more.

As a landlord, you can’t pay bills, it’s affecting credit, your losing property, and now you are going to lose everything.

People have been giving unemployment plus the stimulus they gave out last year they couldn’t pay some bills.

BlackRock and other multi billion dollar companies are going to own everything if nothing is done about this.

https://www.businessinsider.com/lan...n-cdc-renters-evict-julio-gonzalez-2021-8?amp

15% loss in profit is still a positive income right? He's still getting income nevertheless

 

[lifelessheap]

Rental assistance should go directly to landlords.

 

[Bia]

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.

agreed on people's ownership but how about corporations limit?

 

[Hellowhosthat]

agreed on people's ownership but how about corporations limit?

Yep, totally for that too unless they can be shown to be a non profit organisation.

 

[Law Talkin’ Guy]

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.

Not everyone can qualify for a mortgage, so they need to rent. They need someone to rent from. It’s not like if landlords owned less properties those people would be able to afford a mortgage any easier. If landlords owned less properties it would just mean there’s either fewer properties to rent, or more landlords.

 

[CaptHANDSUP]

Fuck him, another piece of shit that profiteered from the endless property bubbles orchestrated by the ruling class to create another asset where they can store their wealth and use as a way to exert influence on the plebs.

 

[Hellowhosthat]

Not everyone can qualify for a mortgage, so they need to rent. They need someone to rent from. It’s not like if landlords owned less properties those people would be able to afford a mortgage any easier. If landlords owned less properties it would just mean there’s either fewer properties to rent, or more landlords.

There's plenty of people who would qualify for a mortgage who simply can't afford to buy a house at current prices though.

 

[Law Talkin’ Guy]

There's plenty of people who would qualify for a mortgage who simply can't afford to buy a house at current prices though.

I would want to see some data on the percentage of houses and condominiums owned by landlords and rented out and the larger impact they have on housing prices before I would be inclined to agree with you. If there’s a significant skew then maybe you’re onto something, but I’m a bit skeptical.

 

[Jesus X]

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.

24 properties isnt a lot some dudes own buidings with like 40 rental properties here I knew someone who worked in one of those rental management companies that collect rent and maintain buildings for landlords.

 

[Hellowhosthat]

24 properties isnt a lot some dudes own buidings with like 40 rental properties here I knew someone who worked in one of those rental management companies that collect rent and maintain buildings for landlords.

I agree it's not a lot compared to how many some people own, but I still think it's too many.

 

[tangata motu'a]

Sorry, but nobody is crying for the landlords during all this. They have always been able to stick it to tenants and now they want us to cry for them?

 

[AtomicPanther]

Welcome to the new America; give us your lazy, we'll be sure to protect them

 

[HeffDoesWant]

Oh dear his lost income might even be so bad as to cancel a small portion of the increase in property value.

Surely he would know its better to roll out some mum and pop investors with a single property to plead his case.

 

[HeffDoesWant]

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.

https://givingpledge.org/