Tenants under contract typically go with the property. If the eviction ban is an issue, then it merely transfers that issue to a new owner, who has to decide whether or not to take on the risk.
So "You could always sell" isn't really feasible in all situations.
In a functioning environment that is what ought to happen - success in investment is not guaranteed (except if you are a congresscritter of course who can make the weather and can profit from it at the same time). Instead he's asking for bailouts. The cost of housing needs to come down, it eats up far too much of people's paychecks.
Protip for landlord in the article looking for sympathy: do not pose for a photograph with you dressed in a suit standing in front of a private jet with your company's name on it.
He's looking for sympathy from fellow people with jets who know politicians, not for sympathy from the masses. Tells you something about the political climate. Where's the revolution?
i saw this and truly thought it was some kind of onion piece that accidentally slipped into a different pub.
i actually didn't even notice the jet until my buddy pointed it out to me -- i noticed the suit and the hair and the smile -- most/almost all pics of actually-miserable people in whatever publication have the requisite 'sad face'.
but this dude smiling.
and then you read the article and he's talking about everyone going thru death and destruction and eviction and whatnot -- and he's like, 'But my _profits_ are suffering!'
I have no sympathy for someone with 24 properties with only 4 taking rental assistance. If he is hurting it is b/c he took out loans to get multiple houses and does not own them out right. He is part of the problem affecting many americans that are trying to get their first home.
Most people live at or above their means so they can get caught up in squeeze as their income declines and their expenses stay the same. It's hard to immediately adjust to fast declines as we are experiencing during this pandemic. A guy like this can be riding a jet one day and the next day he is negotiating with the banks on how not to default on all his properties plus his jet.
I can understand why he feels like he is having a hard time but the big difference is that the banks will be more than happy to work with him so they don't have to deal with a default so it's hard to think of him as someone that's suffering. He'll be fine. He might end-up owning 20 properties instead of 24 but for most people in the world they would be happy to be in his situation. He'll be more than fine.
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[ 4.1 ms ] story [ 52.2 ms ] threadSo "You could always sell" isn't really feasible in all situations.
GTFO
Anyway, that's how investments work. You put your capital at risk to generate returns. These guys seem not to understand the risk part.
Is the article 1) unaware to a comical degree or 2) a psyop?
i actually didn't even notice the jet until my buddy pointed it out to me -- i noticed the suit and the hair and the smile -- most/almost all pics of actually-miserable people in whatever publication have the requisite 'sad face'.
but this dude smiling.
and then you read the article and he's talking about everyone going thru death and destruction and eviction and whatnot -- and he's like, 'But my _profits_ are suffering!'
bizarro-world.
I can understand why he feels like he is having a hard time but the big difference is that the banks will be more than happy to work with him so they don't have to deal with a default so it's hard to think of him as someone that's suffering. He'll be fine. He might end-up owning 20 properties instead of 24 but for most people in the world they would be happy to be in his situation. He'll be more than fine.