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CoronitaParticipant[quote=ltsddd]Did they give you a courtesy notice?[/quote]
Nope. Maybe in my spam box.
CoronitaParticipantMeanwhile. 1:3 missed their April rent payments.
Not surprised, but ouch.
CoronitaParticipantI would pick index funds or ETFs, setup a monthly or bimonthly autoinvestment plan, elect to reinvest interest and dividend , and call it a day. I wouldn’t move money into the market in one large chunk all at once. Id spread the risk out over months.
in addition, you can try one of those newer Robo-advisers that are around $30/months. I’d be curious if they are any good.
CoronitaParticipantDon’t choose, do both, except home prices haven’t really corrected (yet). When and how much,dunno.
CoronitaParticipant[quote=scaredyclassic]
What caused the spanish flu
[/quote]Spanish people
[quote]
What caused swine flu?
[/quote]Swine
[quote]
What caused coronavirus.
[/quote]Chinese people
[quote]
Maybe G-d hates meat eating
[/quote]No, he hates everyone equally.
CoronitaParticipantChina reopened nature trails. Anyone want to bet when we see a spike in re-infection? I’d say maybe a month or two…
Man, if that is a hiking trail with that sort of crowd, I’ll pass. No fun. Cant imagine something like Potato Chip being like that
CoronitaParticipant[img_assist|nid=27027|title=zoo|desc=|link=node|align=left|width=666|height=572]
CoronitaParticipantYou guys in Riverside county are now required to wear mask BTW.
San Diego County probably also soon.
CoronitaParticipantIt would helpful if we had a more accurate count from China so that the rest of the world would be able to estimate better how long and how extensive a lockdown would be needed, as now, no one is believing China’s numbers anymore, as expected were unbelievably low.
CoronitaParticipant[quote=ltsddd]I spray pretty much everything, except for the meats, down with hydrogen peroxide and quarantine them in the garage for 72 hours.
A side note: finally found a video player that could play h264 video files on my computer.[/quote]
bueno.
CoronitaParticipantthat sucks. Hopefully you’re wiping down the groceries you get from some random person delivering groceries to you, since there’s no way if telling if the person is infected or not, instacart isnt screening people, and the virus can remain on surfaces for a longer time than people think.
I only order boxed food item or items that come prepackaged with a plastic bag, snd spray them disinfectant or rubbing alcohol, and unbox all cereal , packaged items outside into a container. No raw veggies or undercooked food. Have not ordered take out from anywhere because you don’t know how the handler of the food is guaranteeing food safety. Employees at Seafood city were infected while still serving food from the takeout. Now weeks later, they shut down the entire supermarket.
There are a few supermarkets around that people don’t show around as much about without the lines. Between 11-12pm, not many people, plenty of stocked food. Wear a mask and disposable gloves, bring your own plastic or paper bags and bag it yourself, toss the plastic bags (so much for the environment in the short term). Toss the disposable gloves, take a wet wipes and wipe down the steering wheel (that’s a gross event in itself). open doors by kicking it with your foot, or by hand with a wrapped paper towel. Fortunately, I was already a germa-phobe before all of this, so nothing really has changed. Aldi’s aren’t that well known and plenty of food, US grown, very little lines around noon when everyone else is eatting.
CoronitaParticipant[quote=FlyerInHi]What is the short term? If you own already, there’s not much you can do but manage.
But what If you want to buy? Timing becomes very important because it’s a variable you control.[/quote]
Depends on what the purpose of buying is for. Owner occupancy or rental? Big difference.
If you own, your options depend on what that property is for. If you really want to roll the dice, you could take advantage of the low interest rate and cash out refinance and do something else with the equity. If your job is secure, like you are an educator that gets paid regardless, or you are in the medical profession and you don’t die from the virus, Id say things look pretty good for you.
Need to see if rent prices permanently falls relative to home ownership.
The other thing people keep forgetting. There’s no current law that days tenants are excused from paying rent and the moratoriums on evictions and foreclosures have set date (which could get moved out a bit). But, eventually if someone really can’t pay, you really got to evict, and that won’t change. Non rental payments just like vancancy rate is part cost of doing business that one should have planned for. It’s also one of the main differences between rentals in areas with a better rental pool versus areas crack alley places where income/credit/etc are more sketchy. This subtle difference might not be be as apparent when the economy is good and everyone has the means to pay.
But it becomes quickly apparent when the economy goes south for the winter. those people were more risky to take on, one probably commanded higher rent when it was good. But now that risk is going to rear its ugly head when times are bad. Hey, don’t like this risk game and don’t like getting burned by it, don’t play the higher risk game. That’s why I sold down by SDSU and exchanged. Didn’t want to deal with student tenants despite better rents, wanted to deal with boring enginerds, nurses, and teachers.CoronitaParticipant[quote=FlyerInHi][quote=Coronita]
But, so far so good (knock on wood). I got all my rent from all my tenants. Most are H1-B’s that work for tech or pharma, one nurse, and a few other that had sold a house and according to bank statement cash reserves. That was one of the main reasons I wanted this kind of tenant pool (hedge #1). All my tenants have credit scores above 790, and as someone once said one don’t get high credit scores by luck and being a shithead shyster, so we’ll test that theory (hedge#2). Lastly, no outstanding loans from paying off all mortgages from equity gains over previous years despite low interest rated, so monthly debt to income ratio is slightly less than 1% (hedge#3).[/quote]
Good for you, flu. You may collect your rents….. But our property values will be affected by other tenants who don’t pay rent, or other landlords who get foreclosed upon. That’s how it works during recessions.[/quote]
Who gives a shit about property value in the short term.
1. Were you planning to sell before or in a hurry to sell? No? Go to step 2.
2. Are leveraged up the ying-yang in one specific geographical location that is dependent on one specific industry that is now affected? No? Go to step 3.
3. Are you well capitalized with sufficient cash reserves as you should have been with any sort of leveraged investment just in case? Yes go to step 4.
4. Is the geographical location of where your property is materially going to change due to a permanent job loses of a major industry that employs a majority of the population such that it could pose as a longer term issue of employment and rentability of properties in the future? San Diego, probably no…go to step 5.
5. Can you think of anything else that your cash/cashflow could be invested in that would do better right now versus staying the course…Like investing in a small retail shop, lol
.. God no …not right now. In fact, relative to those folks that invested in small service biz, you probably dodged a huge bullet. Go to step 6.6. Do you have alternative sources of income so that you aren’t desperate to sell ? Yes?
Land on free parking , collect the money in the pot…stay safe, don’t get sick and die( or try not to) , occupy your time with a hobby, be thankful you are a lot more lucky than many other people, be sympathetic to those that aren’t , help where you can (or don’t if you don’t care) and wait for the storm to clear.
Also, tourism and retail isn’t going to collapse completely into obvilion. After the stay at home is lifted , people are going to be itching to do something. San Diego venues are outdoors, the stigma of possibly being infected won’t be nearly as an issue as other tourism businesses like a cruise ship (which imho won’t recover for awhile) or a close indoor venue like a concert, movie theater, or casino, which people could be risk adverse for some time . Theme Parks will need to be changed to practice some social distancing, but that can be done with technology and a little marketing and sales because generally those are outdoor too so you could start charging for admission based on linited groups and priority viewing similar to the old model that once Disneyland used with different ticket levels instead of a one entry ticket for all rides. People won’t mind pay a lot more for a lot less because they don’t want to get sick, so a theme park could totally exploit that. Cruise ships, concerts, movie theaters, and casinos have a lot more work to do to solve to “stranger too close” phobia problem, and there’s limited options to change that without changing the venue as we know it
CoronitaParticipant[quote=SDNative2]Hello. Decade-long reader here within just one SFH rental house with a mortgage. What are Pigg Landlords doing about offering or otherwise notifying their tenant(s) regarding possible rent deferment? If so, for how long? Is anyone taking advantage of forbearing a mortgage on their rental (if applicable)?
I ask, because my property mgmt is taking the stance of basically offering this to all of their tenants, and it’s falling back on owners to make it work on their end.
Thoughts?[/quote]
Nothing. Not mentioning anything. If one of my tenants have an issue, they can follow up with the law and notify me with 7 days of the due date that they were directly impacted by the CV , and then they can talk to my property manager(if needed) so we can work together to work out a payment plan that meets their immediate need while still ensuring at the end I get paid.
But, so far so good (knock on wood). I got all my rent from all my tenants. Most are H1-B’s that work for tech or pharma, one nurse, and a few other that had sold a house and according to bank statement cash reserves. That was one of the main reasons I wanted this kind of tenant pool (hedge #1). All my tenants have credit scores above 790, and as someone once said one don’t get high credit scores by luck and being a shithead shyster, so we’ll test that theory (hedge#2). Lastly, no outstanding loans from paying off all mortgages from equity gains over previous years despite low interest rated, so monthly debt to income ratio is slightly less than 1% (hedge#3).
Any sort of good deals that do come, cool! We wont see any for some time, definitely not until state laws allows agents to start showing properties again. Most agents, through the advice of CAR, have been removing/withdrawing listings since there will be no allowed activity in the foreseeable future.
I think you guys are worrying about the wrong thing. Imho I’d be more concerned about dying from CV versus getting ruined financially. I’d make sure your living trust and advanced health directive is up to date more so than anything else.
Nothing would suck more than your last moments be under remain-at-home and you’re rushing to finish your living trust or advanced directive so your heirs doesn’t have to go through probate or argue amongst each other when to pull the plug. That would be the ultimate slap in the face to those you care about. Although it’s a low chance that it would happen to you, it’s definitely not lower than before, and you wouldn’t say don’t by insurance because the chances of something happening are low too.Also make sure all your life insurance and retirement accounts are up to date with the correct beneficiaries.
Also make sure you have some way to give your heirs all the passwords/access codes to all your accounts should something happen so they don’t need to wait for access. Make sure you keep an inventory of all your assets on a list including but not limited to bank accounts, financial accounts and any physical precious metals , jewelry , etc that you might have stashed all over different safe deposit boxes or escrow services. (Don’t put those list online or electronically) Keep a spare set of keys , access codes, etc to any sort of lock box.
Make sure the executer of your trust is still alive and competent. It wouldn’t be a bad idea to have more than one alternatives, just in case the first one is also dead when you are dead, things probably weren’t thinking would a be possiblity due to a pandemic that could affect more than one parent or relative or friend at the same time as you. Also probably a good idea to have a talk about “if something were to happen” with spouse and adultish kids.
Plan for the worst , hope for the best.
Lastly, enjoy your life while you can. You don’t know what tomorrow brings. Good luck to everyone.
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