If you're a landlord worried about tenants not paying rent, here's some advice: just rely on your savings. Tap into that rainy day fund. Borrow money off your parents. Sell your iPhone. You really should have planned ahead for something like this.
It's not too late to go back to school to learn a trade, either. Apply yourself. Print some resumes and hand them out.
check'd and kek'd
landlords will seethe at this but it's completely true. if they are at risk of losing their properties because of non paying tenants then that is just a risk they have to bear. did they think property management was risk free free money or something?
>takes out 20x leverage margin loan to invest in the stock market/crypto market
>market goes down and you lose it
You fucked up, dont be so reckless next time
>Put $50,000 down and get mortgage on a $1 million property with desire to rent it out, pandemic no one forsees hits and tenants cant pay rent due to losing jobs
NOOOOOO YOU CANT JUST NOT PAY RENT! PROPERTY IS SUPPOSED TO BE SAFE INVESTMENT! I NEED MY RENTAL INCOME THIS INSTANT, LAZY MILLENIALS!
OH SHIT HERE WE GO
Landlords can always take out a short-term mortgage on their property if the money is a bit short. They are in a way better position than many renters.
Well to be fair, would be a non-issue if you could kick the tenants out. But once courts reopen, it'll be a bloodbath if landlords collecting back rent.
Mortgages are being halted right now in most parts of the world. But utility bills are still accumulating. Are you to say that it is the landlords obligation to pay for your bad habits despite what the contract says?
NOOOO NOT THE LANDLORDS
Very nice
You think Im seething but I literally did this. I have 6 months of operating expenses in cash. Havent had to touch it yet because all my tenants have paid so far. Just part of being responsible, which allowed me to become a landlord in the first place.
Honestly best thing posted so far. If landlords didn’t save an emergency fund of at least 4 months of no rental income.
They are shitty business men and deserve what ever comes there way.
based responsible landlord
If they would just cut out the Starbucks and get a side job they’d be fine. They’re just lazy.
In case anyone wanted a full size version of this.
>based And good bizness man pilled
>landlord
>based
If you can't pay, you get kicked the fuck out though. this has nothing to do with my savings. I'm not a charity.
>Seething commie.
Go buy a house and join us brother
I'm sorry you didn't plan for politicians to not kill any chances of reelection if they enable evictions during a global pandemic or recession. You need to be prepared to not be able to evict anyone for up to 18 months for this reason.
Real estate is such a stupid investment. It s just as unpredictable as the market and requires far more work on your part. You don’t have instant liquidity and you have to deal with tenants/broken appliances/utilities. You can’t protect your investment with derivatives. leverage is better used elsewhere. Everyone I know who tried to be some real estate mogul has wished they hadn’t and been stuck with multiple mortgages and shitty tenants to deal with.
>just become a parasitic middleman too!
I own my own home, Chaim. I do just fine investing. I don’t need to bleed other people dry for shekels.
>allows for better leverage profile than most other asset types
>inflation protection
>generates contractual cash flow at much lower risk than traditional businesses
>can avoid capital gains via 1031 exchange
>etc
yeah no
You and your friends are jealous retards
NOOOOOOOOOOOOOO YOU CANT JUST NOT PAY RENTARINO! THIS IS A CAPITALIST COUNTRY. GET A FUCKING JOBERINO YOU ENTITLED MILLENIAL. YOU CANT JUST SQUAT ON MY PROPERTYERINO I TOOK OUT A LOAN FOR THAT I CANT PAYERINO WITHOUT TENANTS. NIGGERS
We got a contract. If they fail to fulfill their end, they will fuck off.
Maybe should have looked for a place that charges less rent so they are able to deal with unforeseen circumstances.
I just leave baggies of fent in my non-paying tenants closets and report them to the police for selling drugs. They are out in a week. Got 2 out so far since march.
chad
You cant evict right now you entitled brat.
You'd rather have more homeless people on the streets? Get the fuck outta here faggot.
Shut up commie. You will pay your rent eventually. Maybe not now, but you WILL pay me back for occupying MY property.
Why is this so hard for rentards to grasp?
You do understand what a contract is right? The only people that I’ve dealt with in life who don’t understand contracts are literal niggers.
>Whatchu mean I signed an agreement I ain’t paying shit mane! How you expec me tuh werk when my baby mommas takin half muh dayum paychecks!
Also post pay stub or welfare deposit in your case
You need a court order, and only a sheriff can kick a person out. Courts are out until at least October, and I can extend the date for months longer in court. ;^}
>Extending the balance you’ll eventually have to pay or risk never being able to rent again
Was getting caught a part of your plan?
I don’t know what you invest in besides your house user.
But if it’s stocks your literally doing the same thing your still a
>”parasitic middleman”
Those companies are charging people for essentials services and consumer products
When I was a kid growing up, and I would see the occasional kid who was spoiled af, handed everything, and threw tantrums with their parents, I always wondered how the hell that person would grow up.
And after a few weeks of constant spamming I have my answer. Throwing a bitch fit about not being able to pay their rent 1 month ahead of time and calling for the death of landlords and violent revolution of society due to that fact. The only thing I agree with is that we need Gulags and you all need a one way ticket there, you're just fundamentally broken people. Your parents fucked up and now you're a fuck up.
salty landlord detected
If you're a renter worried about not being able to pay rent, here's some advice: just rely on your savings. Tap into that rainy day fund. Borrow money off your parents. Sell your iPhone. You really should have planned ahead for something like this.
It's not too late to go back to school to learn a trade, either. Apply yourself. Print some resumes and hand them out.