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Forum » Lmao at rentcels when will they learn (corona edition)
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Thread: Lmao at rentcels when will they learn (corona edition)

post 1605675451 05-23-2020, 06:57 PM
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#31
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Originally Posted By Anachron⏩
Good cope.
Some no AV BOOMER is talking down to me


Your veins full of dust old man
post 1605676011 05-23-2020, 07:12 PM
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man do you see some of the ****en degenerates they trot out on the tv whining about the sheer indignity of being expected to pay to live in someone else's property?
like some other person should just buy a house or flat, invest money fixing it up, let you move in, and keep spending money to have **** fixed when it goes wrong, have the garden taken care of, and so forth?
post 1605676591 05-23-2020, 07:22 PM
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Australia must be super poverty. Because for the month of April, 95% of Americans still paid their rent. On track for just about the same for May.
They said she's gone too far this time

¯\_(ツ)_/¯
post 1605676731 05-23-2020, 07:24 PM
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Originally Posted By TrinnieBuu⏩
Australia must be super poverty. Because for the month of April, 95% of Americans still paid their rent. On track for just about the same for May.
Well we’re doing better than the US because 100% of my tenants paid in full
Originally Posted By SkiGains⏩
how much does it cost to build in australia?
For high-end stuff around AUD$2200 per square meter, Including utilities infrastructure but excluding regulatory approval and land
post 1605676981 05-23-2020, 07:28 PM
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#35
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Originally Posted By winston89418⏩
Internet keyboard warrior detected


Im way to young and just out of school.
ahhh thats why you think the way you do, the truth comes out, you got alot to learn about life son, nothing is free in this life

youll learn that eventually, or be lost in govt assistance...
post 1605677031 05-23-2020, 07:29 PM
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#36
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Originally Posted By AlwaysFocus⏩
ahhh thats why you think the way you do, the truth comes out, you got alot to learn about life son, nothing is free in this life

youll learn that eventually, or be lost in govt assistance...
thats not what bernie tells me!
post 1605677131 05-23-2020, 07:30 PM
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Lol.

Maybe they will drop the interest rates to -10% so these “homeowners” don’t go bankrupt.

Housing? 100% dependent on interest rates...and right now they are 100% manipulated, which won’t last forever.
post 1605677531 05-23-2020, 07:38 PM
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Originally Posted By winston89418⏩
Your investment is a phucking risk, deal with it you dumb****.

You want millions of ppl on the streets w/ no home or food? Phucking riots and anarchy will happen. Thats why the govt is giving ppl money for basic needs and stopping evictions.
People should have emergency funds for at least a year. The government giving these types of handouts and other welfare discourages people from being responsible.

What kind of grown adult can’t make rent for a few months if they are laid off?
post 1605677711 05-23-2020, 07:41 PM
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Originally Posted By Harry362⏩
People should have emergency funds for at least a year. The government giving these types of handouts and other welfare discourages people from being responsible.

What kind of grown adult can’t make rent for a few months if they are laid off?
you can say the same w/ landlords. Landlords should have at least 1 year emergency, but a garantee there are a lot of wannabee landlords who cant miss morgage payment
post 1605677731 05-23-2020, 07:41 PM
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Originally Posted By Harry362⏩
People should have emergency funds for at least a year. The government giving these types of handouts and other welfare discourages people from being responsible.

What kind of grown adult can’t make rent for a few months if they are laid off?
bruh i have friends from high school who at age 35 would go bankrupt if they didnt get paid for 2 weeks, but they always seem to have the nicest clothes and newest cars
post 1605677861 05-23-2020, 07:44 PM
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Originally Posted By winston89418⏩
you can say the same w/ landlords. Landlords should have at least 1 year emergency, but a garantee there are a lot of wannabee landlords who cant miss morgage payment
*mortgage

That’s why banks hold the title on mortgaged properties and can take possession and sell the property if mortgage isn’t paid.

What’s the problem?
post 1605677921 05-23-2020, 07:44 PM
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Originally Posted By AlwaysFocus⏩
bruh i have friends from high school who at age 35 would go bankrupt if they didnt get paid for 2 weeks, but they always seem to have the nicest clothes and newest cars
there are many landlords just like that. They are so overleveraged that they cant have one tenant not pay.
post 1605677931 05-23-2020, 07:45 PM
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Originally Posted By winston89418⏩
you can say the same w/ landlords. Landlords should have at least 1 year emergency, but a garantee there are a lot of wannabee landlords who cant miss morgage payment
Those landlords who overextend themselves are ****ing irresponsible as well. I’m looking forward to picking up a couple foreclosures later this year from landlords who didn’t prepare for this.
post 1605678341 05-23-2020, 07:52 PM
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idk man, government is out of money and people are out of work. so many broke homeowners are going to sell, but banks simply aren't going to lend to people who lost their income or are up their asses in debt.

I did get a pre-approval because of the piss low rates but I'm only buying if I see a good property selling well below pre-corona ask.
Go Canucks Go!



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Et demain toi et moi serons partis
post 1605678351 05-23-2020, 07:52 PM
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Originally Posted By Anachron⏩
What are you planning to do with these foreclosures once you bought them?
Rent then to tenants who are responsible. My buddy has 16 units and they are all paid in full right now because of his screening process. He is going to help me get my tenants and teach me to screen them.
post 1605678561 05-23-2020, 07:56 PM
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Originally Posted By Anachron⏩
The tenant still owes rent. Pandemic passes, all rent becomes due as soon as the no eviction order is lifted.
Here in the US, the amount of people who don’t know what the word “deferred” means is pretty staggering
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post 1605678601 05-23-2020, 07:56 PM
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#47
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Originally Posted By Miscbob⏩
I know this is a brag thread but regardless the balls of the government to come out and explicitly say people won't get evicted just opened the flood gates to this degenerate behaviour. The government rarely evicts people, to begin with, they're completely useless. Don't pay rent pre covid19 and you could still enjoy a very lengthy period of free accommodation.
That's not true. Even in liberal states like IL you can have them out within 60 days. It's not a huge hit if you have a large portfolio.


The renter will also have a hard time finding another place to live when his would-be landlord finds out he had to be evicted.
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post 1605678631 05-23-2020, 07:57 PM
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Originally Posted By VTheKing⏩
idk man, government is out of money and people are out of work. so many broke homeowners are going to sell, but banks simply aren't going to lend to people who lost their income or are up their asses in debt.

I did get a pre-approval because of the piss low rates but I'm only buying if I see a good property selling well below pre-corona ask.
So banks have cut interest rates to virtually nothing

And are allowing people to capitalise the interest back into the loan

So tell me why owners of good properties are going to panic sell during a pandemic
post 1605679371 05-23-2020, 08:08 PM
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#49
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Originally Posted By guideX⏩
What's with all this angst OP?

Perhaps those people heard about the lockdown and on the expectation that they would be losing their job/source of income hit up your real estate as a precaution? Later the Govt. announced it would guarantee wages of $1500 per fortnight (Jobkeeper), hence they realized they could pay rent?

Do you really think the bank can evict people RN when the Government isn't allowing individuals to? Don't you realize the big 4 and the ******* Lib govt are basically unified in propping up the economy RN to avoid a crash.

Also ****ing OP how about you invest your money in something more ethical, and not contribute to the high prices of property? You realize you're contributing to a system which is effectively preventing the less fortunate from ever purchasing property. *******.

and for all of those people ITT criticizing others for not having '1 years worth of emergency funds', do you even economy? Do you not realize how the neo-liberal economic model works? If everybody saved even 50% of their paychecks the system would fold.
As a property developer I’m contributing to the supply of properties. For each house I knock down (which is past the end of its economic life) I put up 3 or 4.

So since you’re an economist tell me what adding to the total supply does for the price of houses (or any product)
post 1605679691 05-23-2020, 08:12 PM
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Originally Posted By guideX⏩
and for all of those people ITT criticizing others for not having '1 years worth of emergency funds', do you even economy? Do you not realize how the neo-liberal economic model works? If everybody saved even 50% of their paychecks the system would fold.
Holy fuk this is the strongest, purest cope I've seen in weeks. "I'm broke to contribute to the economy".

HOOOOOOLEEEE FFFUUUKKKK

Also lmao @ calling home ownership unethical. You sound like a poor person with a grudge against people who are smarter and work harder than you. Do you realize you'd be homeless if they didn't lend you a place to stay in?
Location: Japan
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Here's my slay count, Incel insects. Now you can stop coping by quoting my location every time poocee is on the topic.
Asians: 100+
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post 1605680121 05-23-2020, 08:19 PM
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Originally Posted By Harry362⏩
He is going to help me get my tenants and teach me to screen them.
Screening can be tricky at first but it is always good to ask for details of the tenant's finances. I like the NYC standard of having to prove that your annual income is 40x a monthly rent payment. That's a good start.
post 1605680561 05-23-2020, 08:26 PM
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Originally Posted By guideX⏩
Whatever you're doing you're doing for yourself and with your own best interests at heart.

Love how you frame it like you're some kind of statesmen.

Fundamentally, all you're doing is locating cheap /decrepit property and flipping them it for profit? probably on a street corner so you can also maximise the number of subdivisions.

That same practice is the root cause of old houses costing 1M+ in Sydney and the reason families move from properties with yards into shoebox apartments/flats.

Wouldn't be surprised if you're telling the taxman you live in these same properties for the prescribed period to avoid capital gains tax.
I garantee you hes not claiming capital gains and acts all high and mighty when normal ppl cant afford rent
post 1605680571 05-23-2020, 08:26 PM
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Originally Posted By Adam16121⏩
Are you one of the guys knocking down nice places for chit tier Mcmansions that new money *******s buy with bad loans?
It’s not economical to knock down nice houses. The places I knock down would probably fall over of their own accord in a few years.
post 1605680951 05-23-2020, 08:30 PM
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"Confessions of a slum lord"
post 1605681461 05-23-2020, 08:36 PM
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Originally Posted By guideX⏩
No you mentioned the bankwill evict in a matter of daysand I stated you don't know what the bank 'will' do atm. Not unless you're a big 4 CEO which i'm sure you are given this is the misc.
Well as long as the tenants believe that’s the case, that’s the main thing
post 1605681911 05-23-2020, 08:45 PM
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Originally Posted By r32gojirra⏩
It’s not economical to knock down nice houses. The places I knock down would probably fall over of their own accord in a few years.
Gotcha. On that note, there shouldn't be so much rustle in a thread where OP is literally only asking for the money that renters contractually agreed to pay, and were handed stimulus checks (as well as unemployment benefits) to help them pay. Though OP should be patient with renters who were delayed over gov inefficiency and other issues. Being forced to close your business for a period of time has deep and long lasting effects for a lot of people.
post 1605682221 05-23-2020, 08:53 PM
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Originally Posted By guideX⏩
Once again talking out of your ass. Maybe tenancy rights don't carry in your country but they do in Australia.
The tenant signs an agreement with the original owner (or more commonly, the owner’s agent)

If the property is sold subject to tenancy Then the lease continues

If the mortgagee is in possession most states and territories allow for termination

The bank will normally terminate to give vacant possession

Thanks for playing though
post 1605682551 05-23-2020, 09:00 PM
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Originally Posted By r32gojirra⏩
So banks have cut interest rates to virtually nothing

And are allowing people to capitalise the interest back into the loan

So tell me why owners of good properties are going to panic sell during a pandemic
They're giving out loans... right now. There's a ****ton of easy money from the government going around. A year from now? Either with jacked up rates or to a much stricter group of borrowers.

The bottom line is that there's been major income loss across the population. A fair chunk of homeowners lost their income and will simply be forced to sell to make ends meet. Landlords who rent out their properties will see less rent going around and vacancy rates increasing, that will bring some of them underwater too. Because of the tourism and international education armageddon, investors and landlords holding homes for students, out-of-town workers and tourists are also in deep **** - their properties won't be generating anywhere the income they expected for the next several years, but they borrowed based on future income that will no longer be realized.
Go Canucks Go!



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post 1605682611 05-23-2020, 09:01 PM
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Originally Posted By Anachron⏩
R32gojirra, why do you even bother with tenant laws like that?
1) I don’t put myself in a position where I can’t cover repayments regardless of tenants

2) if I somehow lost any money on the rental it’s effectively subsidised 47% by the government

3) In the scenario described above that becomes the banks problem not mine (but see point 1 - theoretical argument)

4) even with all of that I’m getting out of the rental game and focusing on development. Renting out the knock-downs prior to planning approval turns it into a tax loss
post 1605682951 05-23-2020, 09:09 PM
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Originally Posted By guideX⏩
I'm not going to argue the legal semantics anymore, the whole point of my post was to ask you why have you got so muchpent up angst against renters/the disadvantaged? believe me, the only reason those renters are paying you is because of Jobseeker/Jobkeeper payments, not because of a subjective belief that a bank is going to evict them.
There’s a lot of angst in this thread

None of it from me though

Lol
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