Rent is late & Mortgage due Monday, 14 of my 22 tenants are refusing to pay rent. I still have to make mortgage payments. This isn’t right. I am a human being that worked hard and bought rental properties so I could comfortably retire and tend to my passions. Now I could potentially lose my life’s work because of slackers who live hand to mouth and refuse to have emergency funds like responsible members of society. I have a family to feed to, why shouldn’t I get paid? Why should I subsidise other people’s shelter from my own pocket? When are property owners getting OUR bailout? It's NOT fair
I have enough emergency funds to cover five maybe six tenants not paying their rent but 14? 14! Why should I wipe out MY savings over this? Landlords are entitled to a larger check for EACH MONTH of the shutdown.
14 of 22 rolls of toilet paper have already been used up. I still have to make several b.m.'s. This isn't right. I am a human being that cooked lard and bought lentils so I could comfortably eat and tend to my b.m.'s. Now I could potentially use my wife's smock because of hoarders who live hand to mouth and refused to prep earlier and have emergency toilet paper like responsible members of society. I have a family to feed too, how much more feces will they make?
Kek i hope the rest don't pay either. Come to the real world where people don't have money. This is the real world chief, now you're going to be one of us hand to mouth people.
Michael Bennett
leech
Christopher Jackson
Some businesses fail dude. Looks like ya got fucked by the market.
I get the troll, but they're called investment properties, not rental properties. Investments don't always work out.
Evan Morales
Because, mate, you're a business. As a business you have assets you can sell off, like the properties you're renting. If you're a good businessperson then you haven't overextended yourself, you can sell off a property, and be solvent enough to weather this.
>> BAIL ME OUT I WANT TO STILL HAVE 14 PROPERTIES WHEN THIS ENDS WAAAAAAH
Yay, nigh-unregulated capitalism.
Ian Martin
you're a landlord. you took a risk to be a jew and now you're getting put into the oven.
Brandon Campbell
Should've been more economically responsible you entitled faggot. Landlord isn't a job you don't get a free ride just for being an already rich jackass. Hope you default & overdose
Xavier Gray
You are an idiot charge interest on the rent you make the same as what your "savings"are making its a deferred payment not a missed payment if you dont have enough savings to cover a single payment on your debt you are over leveraged and that is no one's fault but your own you will be just fine, you're the guy with the assets, remember? realize profits in the future and take a line of credit now, do whatever you have to do, take them to small claims court in a year. you dont need that money RIGHT NOW be creative
Ahahahahaha, if you're real then this is hilarious. "WHY DIDN'T MY TENANTS DO DIFFERENT THINGS THAN ME AND SAVE MONEY IN CASE OF CATASTROPHES SO I DIDN'T HAVE TO"
Xavier Nelson
Copypasta
Matthew Ramirez
You took a business risk and right now it's failing you. That's part of business.
... Okay I've never actually heard this before. This is 100% kek material
Landon Cox
Lololol
Julian Myers
Remember which ones arent paying and when corona is over give them the boot
John Young
>Why should I subsidise other people’s shelter from my own pocket? Why should other people subsidize your hobbies out of their own pockets?
Anthony Collins
Jello Biafra would like to have a word with you.
Bentley Ross
Talk to your mortgage company. They will offer forbearance which might buy you time to get a small business loan. You can also ask your mortgage company to do a loan modification. Read about it asap and don't listen to these fags, they're just mad because you've been smarter, luckier, or worked harder than their mouth breathing asses have.
Connor Baker
>boo hoo, my business isn't profitable right now
Renting property is a business and carries a risk. Your business is getting fucked right now. This is how business works. You figure it out like the rest of us.
Jonathan Gonzalez
Should have payed off your mortgages. Assuming a 30% down payment you could of had like 7-8 properties free and clear...Shouldn't have over expanded dude
Brayden Foster
OP, try getting a real job. Renting is a risk, you gambled and lost. Stop drinking expensive coffees, use that 4 months of emergency savings, etc... landlords can all die.
mortgage is late and taxes are due Monday, 14 of my 22 loan holders are refusing to pay rent. I still have to make tax payments. This isn’t right. I am a human being that worked hard and became a bank franchisee so I could comfortably retire and tend to my passions. Now I could potentially lose my bank because of slackers who live hand to mouth and refuse to have emergency funds like responsible members of society. I have a family to feed to, why shouldn’t I get paid? Why should I subsidise other people’s investments from my own pocket? When are shareholders getting OUR bailout? It's NOT fair
I have enough emergency funds to cover five maybe six debtors not paying their mortgage but 14? 14! Why should I wipe out MY bank over this? Bankers are entitled to a larger check for EACH MONTH of the shutdown.
This fucking post again, just like I said last time, serves you right
Hunter Moore
First, quit your whining. You have two options:
1. Bet that things will turn around and lean in. Borrow to pay the mortgage if you don’t have cash on hand. 2. Bet that things will get worse and bail out. Sell the property at current market value, even if it’s for a loss.
Kevin Morris
I would usually take the landlords side on matters like this. If they can't pay, kick their ass to the curb. And don't think twice. But only having "emergency funds" to cover half of your investment for one month is not an emergency fund. This is your fault for trying to grow your business too fast. I hope you and your tenants are homeless next month.
Kayden Lee
Might be something in the pipeline for you.
The mortgage finance system could collapse if the Fed doesn’t step in with emergency loans to offset a coming wave of missed payments from borrowers crippled by the coronavirus pandemic.
....are you retarded? If you kill off the landlords then where will the people that can't afford to buy houses live?
Hudson Lopez
In the same place they currently live .... because who's going to come kick them out.
Grayson Brooks
This
also passing it off as a leveraged can allow you to market the debt and monetize it albeit below market rate. Depending on the size of the rent you're expecting you can probably sell it relatively close to face value (assuming it's in the thousands).
if, on the other-hand, you're living paycheck to paycheck against 22 properties then you're retarded and you can go fuck yourself. Cap rate against mature residential is 20% at least, what the fuck are you doing with your money that you can;t afford a mortgage, and why the fuck would you still have a mortgage if you're jewing others, how fucking retarded of a boomer are you.
Easton Jenkins
Somebody will own the property. Do you think it magically becomes yours if your landlord ceases to exist?
Jacob Smith
>I make money off of the lives of others who are in a disadvantages situation, and now they refuse to pay me! Ooooh noooo!
Let me fix that for you >I provide an essential service to people that can't afford it on their own. Without me, my tenants would have no place to leave. They are refusing to pay me and now I'm in a disadvantaged state despite not having done anything wrong.
Liam Campbell
You signed a lease (a legal contract), if you can't be an adult, and save some money for when times get rough. Go back and live at mommy and daddy's like you did as a child.
Liam Diaz
The bank will come for it... oh whats that? Banks have collapsed? this is where we are headed.
not really, government assistance is basically nonexistent where I live
Chase Williams
As a landlord you must know that you don't "LOSE" that money right? You literally are still owed every penny. Even if they don't pay you can take them to small claims court for like 25 bucks and get an injunction on their future pay. Literally just get their money before they get it.
I'm honestly finding it hard to believe you're a landlord if you don't know these things... and with as many properties as you claim you have you should have a lawyer on retainer able to collect any and all monies owed. Learn2jew.
Jonathan Reyes
That's wrong.
Rent isn't a return on investment. Rent is part in parcel to a lease. A written contract. Unless there's a provision within the lease that allows for rent leniency then, no, the renters are obligated under law to pay rent.
That said, landlords are a bit constricted on pressing the matter due to not be able to start the eviction process, but the fact of the matter is that eventually the courts will open up and the landlords will be entitled to every last cent that wasn't paid up and until the point a renter's wages are garnished.
Being kicked out of a rental isn't living on the street. There are shelters one can go to. Even if people did have a right to live in a house, much like guns, you're not entitled to just be handed one.
That's not to say that landlords shouldn't be charitable considering the situation, but renters who're taking advantage of the crisis and feel like they shouldn't be obligated to pay for any of their living expenses are taking advantage.
Scummy behavior.
Dominic Roberts
Very well. You want to play the anarchy card, fine. The system collapses. Somebody stronger, smarter, or more charismatic than you takes over. They take ownership of the land you live on and demand you pay them monthly taxes. Whoops. Looks like your revolution didn't go accord to plan. Somebody will always take over. And the banks aren't likely to collapse entirely. I'm not sure why you think they will.
Chase Phillips
It isn't possible for everyone to save up a 12 week emergency fund, and housing is still a basic requirement for life (food, shelter, water, warmth). Go suck a dick if you think kicking people put over unforeseeable circumstances is reasonable. It isn't.
Nicholas Myers
It absolutely is possible for people to save up 3 months worth of an emergency fund. In fact most people recommend that you save up 6 months for an emergency fund. This would be no different if you were fired from your job, and couldn't get a new job right away. You signed an agreement that your rent money would be sent by the first of each month, if you can't live up to your end of the bargin, get ready for the consequences.
