Rent Relief?

[mcmurtry66]

It's not a complicated process. In most states.... I've heard some horror stories out west with clients that have dealt with sophisticated squatters that have basically stolen their property with never- ending evasion techniques.

That said, I'm slowly extracting myself from my rental portfolio. I'll take my equity that's built up nicely over the last 10-20 years and dump it into the stock market and my own personal consumption, rather than play this game any longer.

The trends politicaly are obvious and they aren't positive towards mom and pop landlords. The result will be large private equity firms taking over the rental real estate market. I'm sure they will care a lot about their tenants and the improving the local neighborhood. This will be the big win for dimwits like Cori Bush.

That's frightening re squatters. Here the only obstacle is a sheriff has to serve them - no private. Once that's done court takes five minutes.

As to your other points you certainly no better than i. What i do know are tons of landlords including my family and every one are mom and pops and need the money

 

[CO. Hoosier]

there is no logical reason that this is necessary right now. The CDC is blatantly abusing its power

The CDC extending the federal eviction moratorium is expected to cover about 90% of renters

After pressure from House Democrats and housing advocates, President Joe Biden announced Tuesday that the federal eviction ban will be extended.

www.google.com

Yeah, what the country needs now is more reasons for people not to work. So let’s give all those who might need to find a job to pay rent a rent payment holiday until October. By then it will be getting too cold to work and we can extend the rent holiday until spring.

I didn’t think it was possible to get as big of a collection of dumbasses together in one place, But Biden pulled it off with his administration.

 

[IUCrazy2]

The new ban is still coming from the CDC. This is banana republic shit.

View embedded media

He is just reestablishing our political norms or something...

 

[sparkeyreturns]

Nonsense. Taking someone's property via a judicial foreclosure is miles away from kicking out a deadbeat renter, that typically takes one hearing in township court and about 10 mins. Judge.... "did you pay the rent as agreed?".... tenant...."blah, blah blah, bullshit....."

Judge approves eviction.

That's even if deadbeat shows up, which is pretty rare.

Obviously other states are extremely anti-landlord and have all kinds of mechanisms for deadbeat losers to dodge their responsibility for a simple lease arrangement. But in the state of Indiana, you pay or you're gone.

Fortunately many Indiana judges are basically ignoring the CDC unconstitutional moratorium, and giving property owners much leeway.

Ive never rented in Indiana but I never experienced what you described in evicting someone. hell, there are so many special groups that step in and try and help the people. Well, not actually to pay but to fight the court proceedings.

 

[UncleMark]

He is just reestablishing our political norms or something...

In his news conference, Biden said he was told by most of his constitutional advisers that he didn't have the authority, but that some did say he had a chance of it being held up. Then he said that it would take a couple months or more for it to be adjudicated, and that even if it was overturned, that much time would have passed giving renters that much of a reprieve.

Gotta love the tactical decision to go ahead. Even if he gets slapped down, it will have done the job (relief for renters) in the short term. McConnell would be proud.

 

[IUCrazy2]

In his news conference, Biden said he was told by most of his constitutional advisers that he didn't have the authority, but that some did say he had a chance of it being held up. Then he said that it would take a couple months or more for it to be adjudicated, and that even if it was overturned, that much time would have passed giving renters that much of a reprieve.

Gotta love the tactical decision to go ahead. Even if he gets slapped down, it will have done the job (relief for renters) in the short term. McConnell would be proud.

I heard what he said. Your defense of it is partisanship, nothing more or less.

 

[UncleMark]

I heard what he said. Your defense of it is partisanship, nothing more or less.

Call it what you will. I'm not really comfortable with what he did, but understand the politics behind it. Plus, it's just a badass move. After all the extra-constitutional stunts Mitch has pulled, it's nice to see our side take off the gloves.

 

[Lucy01]

There is no reason people can’t pay their rent, I bet they are buying cigarettes, lottery tickets, and Colt 45!

 

[jet812]

Call it what you will. I'm not really comfortable with what he did, but understand the politics behind it. Plus, it's just a badass move. After all the extra-constitutional stunts Mitch has pulled, it's nice to see our side take off the gloves.

Mitch is a scumbag, apparently so is the President, but when he’s on you’re side, it’s ”badass”. You should be ashamed bragging about such hypocrisy, but likely are not. All taking off the gloves mean is being crooked, which saddens me to know the current President is. Enjoy your badass as he brushes aside the constitution, I want my vote back…

 

[UncleMark]

Mitch is a scumbag, apparently so is the President, but when he’s on you’re side, it’s ”badass”. You should be ashamed bragging about such hypocrisy, but likely are not. All taking off the gloves mean is being crooked, which saddens me to know the current President is. Enjoy your badass as he brushes aside the constitution, I want my vote back…

LOL @ jet being all high and mighty.

 

[jet812]

LOL @ jet being all high and mighty.

Great answer. You wanted names of vile posters, I would classify applauding the Presiden’s behavior as vile.

 

[dbmhoosier]

Biden should be impeached.

 

[Joe_Hoopsier]

hell, there are so many special groups that step in and try and help the people. Well, not actually to pay but to fight the court proceedings.

Absolutely Brilliant comment, I had to stop and comment. Listen up lib's and Mitt's.

When your fight is actually not to help the people, but to fight against those who are not THE people, YOU are most of the problem.
Hey Liberals and Romneylicans ( I have recently amended my phrase), stop helping, you are killing us!

 

[Spartans9312]

So incredibly corrupt to do something you know is outside your authority because you think no one will stop you for a certain period of time and it will let you score political points.

 

[Joe_Hoopsier]

View embedded media

So incredibly corrupt to do something you know is outside your authority because you think no one will stop you for a certain period of time and it will let you score political points.

Isn't that like totally opposite of an oath that is taken to be in that office?

 

[Spartans9312]

Should be grounds for impeachment, but no - let's impeach a President over a phone call.

If this were Trump openly flouting the law because the courts hadn't stopped him yet, the media outrage would be off the charts and we would have seen consistent calls for impeachment.

There is something wrong with the media as an institution, which is primarily tasked with holding the powerful accountable, when the President can do something knowingly outside his power and the response is a collective shrug

 

[dbmhoosier]

 

[Spartans9312]

She should have probably been focusing on legislation instead of patting herself on the back for a clearly illegal order. The mountains got moved back.

 

[stollcpa]

It's not a complicated process. In most states.... I've heard some horror stories out west with clients that have dealt with sophisticated squatters that have basically stolen their property with never- ending evasion techniques.

That said, I'm slowly extracting myself from my rental portfolio. I'll take my equity that's built up nicely over the last 10-20 years and dump it into the stock market and my own personal consumption, rather than play this game any longer.

The trends politicaly are obvious and they aren't positive towards mom and pop landlords. The result will be large private equity firms taking over the rental real estate market. I'm sure they will care a lot about their tenants and improving the local neighborhood. This will be the big win for dimwits like Cori Bush.

Good time to cash out of real estate I think. Might be good to do it before Biden and the Dems hammer you with capital gain taxes.

Don’t you think it’s a risky time to go balls to the walls in the stock market? I assume you’re planning on dollar cost averaging to enter the market?

I really screwed up. When I was 25 my father pushed me to invest in farm real estate. We projected cash flows and I was fearful of borrowing money to invest while starting my own business.

That farm land was selling $1,200 to $1,600 per acre. That land is selling for $16,000 to $20,000 per acre now.

My business did just fine and I would have had no problem with handling loan payments in years the crops didn’t do well.

Hindsight is always 20/20.

Congrats on your wise choice to invest in real estate.

 

[twenty02]

Good time to cash out of real estate I think. Might be good to do it before Biden and the Dems hammer you with capital gain taxes.

Don’t you think it’s a risky time to go balls to the walls in the stock market? I assume you’re planning on dollar cost averaging to enter the market?

I really screwed up. When I was 25 my father pushed me to invest in farm real estate. We projected cash flows and I was fearful of borrowing money to invest while starting my own business.

That farm land was selling $1,200 to $1,600 per acre. That land is selling for $16,000 to $20,000 per acre now.

My business did just fine and I would have had no problem with handling loan payments in years the crops didn’t do well.

Hindsight is always 20/20.

Congrats on your wise choice to invest in real estate.

Yes, I'd love to sell them all tomorrow but I have to stagger my sales by years otherwise get in a tax tornado...as you know with how phase outs work and cap gains gets stacked on top of ordinary income.

The stock market always looks expensive, unless it's during a crash. I'm sure I won't dump it all in at once, but my horizon is 30-40+ years, so trying to time it is really a fool's game.

Cheap, non-callable debt (leverage) is the only thing that makes RE investing attractive. Raw farm land that you lease to operators is very attractive, but it's very expensive now. I had an older co- worker who had a lot of farm land he slowly acquired over years in Iowa, and he was sitting on gold mine.

Managing tenants and fixing shit in houses becomes less and less attractive, comparatively.

 

[Joe_Hoopsier]

That land is selling for $16,000 to $20,000 per acre now.

Can someone please explain how this can be a viable cost for farm ground please? Or is it being sold into a new use? I ask because I am hearing cash rent prices that JUST DON'T MAKE SENSE.

 

[DANC]

Can someone please explain how this can be a viable cost for farm ground please? Or is it being sold into a new use? I ask because I am hearing cash rent prices that JUST DON'T MAKE SENSE.

Well, beans are over $13 a bushel and Corn is about $5.50. And yields are way higher than they used to be.

Farmers don't worry about paying principle. And you know how low interest rates are.

And oh yeah - the government the hands out to farmers is obscene. Without the government issuing these subsidies, land would be a lot cheaper.

And if you raise livestock, you're really living high on the hog..... so to speak.

I've kicked myself many times, over the years, for not buying farm ground..

 

[Joe_Hoopsier]

Well, beans are over $13 a bushel and Corn is about $5.50. And yields are way higher than they used to be.

Farmers don't worry about paying principle. And you know how low interest rates are.

And oh yeah - the government the hands out to farmers is obscene. Without the government issuing these subsidies, land would be a lot cheaper.

And if you raise livestock, you're really living high on the hog..... so to speak.

I've kicked myself many times, over the years, for not buying farm ground..

Part of that is what Dad was telling me. No one even considers paying off the principle. It's just a Madoff roll the dice scheme, enjoy now and move one. DAMN, it's 10,000x more work managing the "what we won't pay" and "when do we bankrupt and do it all over" verses growing things. Jebus.

 

[UncleMark]

Part of that is what Dad was telling me. No one even considers paying off the principle. It's just a Madoff roll the dice scheme, enjoy now and move one. DAMN, it's 10,000x more work managing the "what we won't pay" and "when do we bankrupt and do it all over" verses growing things. Jebus.

Back in the 60s I remember listening to my Goldwater loving parents and grandparents talking about how many acres they were going to put into the Land Bank. And how FDR had been a socialist bastage and that's why things were going to hell.

 

[Joe_Hoopsier]

Back in the 60s I remember listening to my Goldwater loving parents and grandparents talking about how many acres they were going to put into the Land Bank. And how FDR had been a socialist bastage and that's why things were going to hell.

Born in 68', so having any idea what you mean would take way more effort than I am willing to do.
BTW, Do you work with Brad at Napa?

 

[UncleMark]

Born in 68', so having any idea what you mean would take way more effort than I am willing to do.

The Land Bank is the acreage you leave fallow and the Feds pay you for not producing anything.

BTW, Do you work with Brad at Napa?

Old Brad with the bib overalls as his only attire? Never heard of him.

 

[mcmurtry66]

The Land Bank is the acreage you leave fallow and the Feds pay you for not producing anything.

Old Brad with the bib overalls as his only attire? Never heard of him.

Lol

 

[Joe_Hoopsier]

The Land Bank is the acreage you leave fallow and the Feds pay you for not producing anything.

Old Brad with the bib overalls as his only attire? Never heard of him.

We called those "set aside" acres in the late 70's, early 80's. As a 10-13 yr old, mowing them on my Farmall H, I spent many an hour thinking.... They pay you to NOT plant these fields? wow, that's effing stupid.

I hope Brad's jeep doesn't shake anymore. But they all do, so....

 

[stollcpa]

Can someone please explain how this can be a viable cost for farm ground please? Or is it being sold into a new use? I ask because I am hearing cash rent prices that JUST DON'T MAKE SENSE.

It doesn’t make sense. Cash rent prices bear no resemblance to market value of the land. I am trying to explain that to clients I have renting farm land.

 

[stollcpa]

Yes, I'd love to sell them all tomorrow but I have to stagger my sales by years otherwise get in a tax tornado...as you know with how phase outs work and cap gains gets stacked on top of ordinary income.

The stock market always looks expensive, unless it's during a crash. I'm sure I won't dump it all in at once, but my horizon is 30-40+ years, so trying to time it is really a fool's game.

Cheap, non-callable debt (leverage) is the only thing that makes RE investing attractive. Raw farm land that you lease to operators is very attractive, but it's very expensive now. I had an older co- worker who had a lot of farm land he slowly acquired over years in Iowa, and he was sitting on gold mine.

Managing tenants and fixing shit in houses becomes less and less attractive, comparatively.

I wish I had your foresight 38 years ago. I was single minded in building my practice. The damn years got away from me. LOL.

 

[Joe_Hoopsier]

It doesn’t make sense. Cash rent prices bear no resemblance to market value of the land. I am trying to explain that to clients I have renting farm land.

I can't even calculate how they make sense to the market value of the product, let alone the friggin dirt. Even with higher yields and prices, I still calculate they make MAYBE $50 per acre, after paying the lease on the $750k of equipment. I just can't figure out where the cash flow comes from to live.
Maybe economies of scale and they farm 5000+ acres. But then, the equip cost go even higher and you need employee's.. I just don't get it.

 

[stollcpa]

I can't even calculate how they make sense to the market value of the product, let alone the friggin dirt. Even with higher yields and prices, I still calculate they make MAYBE $50 per acre, after paying the lease on the $750k of equipment. I just can't figure out where the cash flow comes from to live.
Maybe economies of scale and they farm 5000+ acres. But then, the equip cost go even higher and you need employee's.. I just don't get it.

You don’t get it because it doesn’t work.

$20,000 per acre value and $250 per acre cash rent don’t compute.

 

[twenty02]

It doesn’t make sense. Cash rent prices bear no resemblance to market value of the land. I am trying to explain that to clients I have renting farm land.

Interest rates are 1%. Doing cash flow analysis on any return in a super low rate environment is going to look meager. But making 5% on money, and then stacking cap appreciation on land (typically inflation, long term) looks pretty good.

 

[twenty02]

I wish I had your foresight 38 years ago. I was single minded in building my practice. The damn years got away from me. LOL.

Time gets away from us all. I could be retired now if I was a lot more aggressive in the 2008-12 time frame. But we all have lives to live too

 

[twenty02]

I can't even calculate how they make sense to the market value of the product, let alone the friggin dirt. Even with higher yields and prices, I still calculate they make MAYBE $50 per acre, after paying the lease on the $750k of equipment. I just can't figure out where the cash flow comes from to live.
Maybe economies of scale and they farm 5000+ acres. But then, the equip cost go even higher and you need employee's.. I just don't get it.

There basically aren't family sized farms. And the ones that are still in the family are either growing bigger or they are telling the kids don't screw with this business. Only way to compete is with large scale.