Tim: We have taken the approach of being proactive and providing updates and communicate! The more ideas and solutions you can provide people the better.
Can we ask a question here on the webiinar
Good Morning! I have a tenant that did not pay March 1st rent. I filed for eviction on Wednesday and one hour later the President announced there would be no EVICTIONS. This person has not lost her job and now refuses to pay rent. She knows the court dates have been pushed back and possibly will live in our property for months before this gets resolved. There will be tenants that will take advantage of this situation and as usual the LANDLORDS have no rights. How do we pay our expensives?
how to get audio working on this. anyone?
Inner City Invesments
there's icons in the lower left to select your audio and video options
use computer audio
for Charles Tassell, is there any talk of having mortgage deferment for mortgage holder so that we can relieve pressure on tenants and us home owner?
Good morning. Audio is great.
great question Charles! I'm following that question.
What relief is going to be provided by mortgage lenders as it relates to forbearance/abatement of payments? With little to no rents coming in we can’t make payments and will be negatively affected.
Are we able to record this?
What, if any, special precautions should we take for a "Cenratl" HVAC system ie Chiller Systems???
we are recording this call and will send out afterwards
I'm not hearing the audio for this session
My lender yesterday said they were coming out with an option to go interest only for a few months.
Hey Ann Lee - what lender was that>
Bancfirst in Oklahoma
You can select to listen on your computer speaker or use the telephone number. Click the audio tab in the lower left hand corner of hte screen.
Got it - ears on now
HOW ABOUT HAVING A SHEET OR TWO WITH THE OUTLINE, THE NAME AND CONTACT INFO OF THE SPEAKER. INTRO, BODY (POINTS) CONCLUSION. SOMETHING WE CAN DOWNLOAD AND PRINT.
can you speak to mortgages with non-traditional banks like hard money lenders?
Is a transcript of this zoom chat available at at end of meeting
Yes the transcript will be available after the call
Thanks for saying that Rebecca, don’t let it tear us apart—language is important
Ann Lee- did BancFirst in Oklahoma send you a communication or did you proactively approach them
Does Reia propose to respond to the nationwide eviction moratorium? Are lobbying efforts underway with HUD?
Please limit chat conversations to this webinar,,
Is there a way for me to connect with people on this call with experience buying multifamily or syndications? We want to start buying multifamily
People might wanna turn their cameras off. Seen a few folks doing stuff they probably want to keep to themselves.
Should we plan on April REIA meetings be held virtually?
haha what did u see ppl doing?
^ I'm curious too 😂
A few nose pickers, a few guys “adjusting” themselves
first rule of Coronavirus club: don't touch your faces
man im just glad for some levity. Been bored outta my mind at home driving myself crazy watching the news
is anyone charging late fees for the month of April or waiving late fees for tenants?
I'm waiving late fees if tenants are proactive to come talk to us about losing their jobs, AND they have to provide support (i.e. a letter from their employer)
I think filing is still due 4/15, but payments due 7/15
and we've communicated that to them
Can someone confirm?
Are mortgage payments suspended in NY? This is from NYS Covid website: The Department of Financial Services has issued a new directive to New York State mortgage servicers to provide 90-day mortgage relief to mortgage borrowers impacted by the novel coronavirus.
Hello, if you could shed some light on landlords who have multiple properties and rely on cash flow to pay rental mortgages and related expenses? Myself I have had multiple tenants say they will not be sending in rent payments until their own expenses get under control. As a landlord, We are not charging late fees and happy to work with people but what about our own "commercial mortgages"?
That’s the danger of the credit stack. Everyone needs to cooperate. Tenants need relief from LL’s, LL’s need relief from lenders, lenders from their lenders, etc. Unless all chip in it doesn’t work.
Thanks Jim Morales for echoing the same.
encourage tenants to use stimulus package to pay rent
I have 42 units and my banks have already agreed to "defer" all mortgage payments for 90 days. They just tack them onto the end of all the loans. No interest, late fees, or penalties involved. Based on the situation, they will evaluate to see if that needs to be extended down the line.
try to explain, tactfully, that if they don't pay, u cant pay mortgage, bank repossesses house, they are evicted
@Justin - good to know, thank you.
we need rent to be towards top of the priority list
Good info Justin Brady
We proactively sent messages to owner and tenants to let everyone know we are all in this together and to promote empathy on both sides. It has been working so well
Or that Gal
That's great to hear @Gina
ROTH 401Ks Contributions pushed to July also?
We reminded all our tenants that we don't rep major corporations - they are people like you (tenants) that inherited grandma's house, relocated and pay rent in another state, etc. and can't afford missed payments, but will work with them.
Justin. Are your banks in New York State?
Love this human-centered message
can we request documentation that tenant is laid off
tHello everyone, I hope this email finds you well and everyone is staying safe/healthy. Several of you have inquired on what the plans are moving forward towards rent payments for the month of April. At this current time we are expecting April's rent to be paid on time. We ARE NOT currently lifting any late penalty fees for rents received after the 4th of the month. I understand many tenants are severely impacted by these current events. I am attending a rental property association meeting tomorrow Friday March 20th, 2020 via video conference with many PA landlords to discuss how this is impacting everyone. We will hear counsel and have experts share advice on how to proceed further. I promise to be open and transparent with any changes that may impact you as they come to my knowledge. These are uncharted waters for all of us. Please be patient and know that I am flexible in working with you to insure no one loses their current housing. I would ask that you reach out to local agencies and or call the unemplo
we have been flexible with a tenant who is not able to pay, but are there any resources for us to help pay the mortgage of that property?
I sent this email to my tenants. any suggestions?
What is the best way to handle college students who have gone home to quarantine with families and moved out of their apartments? Are you letting them out of leases?
My advice to anyone is try and replace tenants that have to leave and have them help you. Definitely make them realize if they help you, you will help them and don't charge them for anything unnecessarily
In regards to that email, what was the reason for the decision to not lift late fees?
My concern is that there will be tenants that will manipulate the system to their advantage. Such as them working and still not wanting to pay rent because they “don’t have to”.
I already had charge late fees up until 3/13. Would you refund any late fees from March?
@michael, we're only working with folks that provide us a letter from their employer so we have evidence
I would ask for some proof of hardship before just blanket waiving rents or late fees
if they don't provide it, they're still expected to pay
Show layoff notice, unemployment fling etc
We are in Nashville so easy to know which businesses are affected
is it legal to ask them if they are going to pay rent before april 1?
Grace for mortgage payments is one thing but what about the property taxes we have to paid. Will we still have to paid property taxes?
Ron, property tax relief will come from state, county and local govt not national
State Govs gonna have a hard time passing up RE taxes when they’re already gonna miss a ton of sales t axes
Thoughts on insurance policies that may provide "loss of rents" coverage?
They can’t print like Feds can.
What's that website again?
zero chance insurance comoanies provide us with any relief
My family can’t afford to support my tenants.
how will we find out GRACE periods from bank payments? Any site or more info?
Eric, you need to find funding either through a bridge loan or an SBA disaster loan
I waived all April rent, working or not. proactively working with them. I have told them to put it aside in case they do get laid off. They have unexpected hardships like extra food for kids at home, fewer hours available, layoffs upcoming.
Eric you won't be able to afford a mess of empty units either. Have to balance common sense and humanity with a need for cashflow
is this webinar going to be posted for replay?
Hey Tracy - do you mind sharing how many units you have?
how do we respond to tenants who are asking for a rent reduction due to hours cut at work?
@Tracy Malin, how many units do you have rented?
Yes the call will be sent out afterwards
what about if you have no employees, and you're a one man shop?
@John lewis - same here
Group Leaders need to forward the Voter Voice e-mail to their members.
Yes, is there anything dbas can do to prepare to be able to take advantage of the upcoming credits, loans, etc.
And non members
I spoke with my lender and they told me that they would hold payments for three months if needed but would need to be paid in full at the end of the grace period. They will not place on the back end of the loan?
what info is she talking about that explains the situation surrounding eviction stoppages?
Waiving late fees, completely agree with.
Why does Rebecca not age AT ALL?
Is there any info about the $1,000 per person that has been discussed at the federal level? Who gets it and when?
What do you foresee this pandemic will affect the wholesaling and rehabbing business?
Can you give us some pro-active wording to our tenants about this so they don’t just take advantage of not paying
Just remember what Zig Ziglar said, "If you help enough other people get what they want, in return, you get everything that you want" We have to help and serve people and help everyone keep in that mindset
yes @sue forwith. agree
I don't mind sending anyone what I sent my tenants
Yes Gina, please do
Feds are saying $1200 per adult for household income under $75k. $500 per child
gina miller. how do I get this?
Is there a template available with suggested language for residents' notification? Where to find?
Does the moratorium on evictions only apply to Section 8?
Under $95k slightly less
Email me email@example.com
not .com just.co
Feds are still determining how to distribute
@Sheri does that come in the form of a check, or is it sent to the landlords directly? I ask because there is a 1:1 chance my tenants don't use that for rent
where do we find info on feds
Re the $1000 to all citizens, I would hope that some of us who are financially OK can pass this on to folks that really need it.
I got it from Fox News last night
Mine was basically around getting both sides to empathize, but not take advantage because it hurts those that need help. I sent it to over 300 residents and only 3 followed it up with a need for help and they had a plan.
Pass it on to your renters
interesting. the higher income earner, the harder they are hit, but the less assistance
To answer Trevor's question, I don't think that the moratorium applies only to section 8. It should be limited that way - especially coming from the federal government. But I don't think that everyone is following the constitution right now.
I’m pretty sure Trump will take care of us in tax deductions for losses
Great information, Thanks for doing this webinar
What is the url for the website?
Gina Miller, would you please email to firstname.lastname@example.org
Trump did not take care of us last time on the tax breaks
Should we expect a moratorium for all rentals?
can we do this call a couple times a week plz?
how about home owners going through forclosure and auction sale dates that has been paused?
this has been incredibly helpful
is there a fine line of what we can request to see from tenants for documentation purposes?
Great info. Thank you for your support.
Can anyone kindly share a template of a JV agreement they use w/ a partner?
What, if any, special precautions should we take for a "Central" HVAC system ie Chiller Systems??? Stop the spread of virus?
Can someone provide a document of notice to tenants moving forward regarding rent and late fees?
Can we set up a chat room for everyone in here so we can bounce ideas of each other and share info?
That would be helpful and categorize the questions so there’s not just a list. FAQ style
thanks for all this info. excellent
we have an online community, unitinginvestors.org that we can set up a group for you chat with each other
The SBA loan with forgiveness sounds very enticing. Does anyone know if there will be a distinction b/t contract vs FT employees. Most of my staff are contract but that loan would really help
My friend in England gets better then sick again.
Breathing fine then not over and over again
lets set up a chat there @Lori
Lot of Landlord questions. Do we have an appreciation for whether or not Lenders (National or otherwise) will be willing to lend on Rehab or Construction projects. Will we still be able to buy or sell properties that we have under contract?
I got in late. I thought this meeting was starting at 11.
have everyone seen banks and private lending tighten up yet for new loans
@Trevor They are going to send it out
i appreciate your advice and inspiration Jeff
You can close on your deals if your buyer hasn’t lost his job
Thank you to all who has supported putting this event together for us all. I appreciate it and this will help me better keep my REIA group informed and educated.
@Frank miller - thinking the same
Meeting did start at 11 AM ET - we will send out the recording after the call when available.
Cheaper to keep them when you can
Gina Miller please send info to me email@example.com thank you
If those that have already sent out letters would be comfortable sharing those with other so we can glean ideas, that would be great. I've already learned so much just by listening to the approaches here.
Thanks for doing this call for us!
I would like to send this video to my prop manager, who can I do this?
great info thanks everyone
I'm a new & inexperienced investor trying to get my first live-in rental property. Is it really worth pushing forward, or is it better to hold off and wait until things settle down again? Investors usually push to start as soon as possible, but is this a good time?
If only have 3 or 4 rentals are we considered part of "small business" …. and then possibly eligible for assistance. And if so must the rentals be in a LLC to validate it as a "small business"?
I don't mind sending it to anyone, but you will need to email me so I can reply. Super busy.
How do I show homes for sale?
Gina my email is firstname.lastname@example.org. Please send to me as well
I have some vacancies. Would it be smarter to keep them vacant until this passes over?
Louis Sesti-- good question
Gina Miller please send info to me Crystaldag@outlook.com thank you
email@example.com Gina please
I wouldn't. I would keep filled
Gina, what is your email?
Please send video copy to firstname.lastname@example.org
Good words Jeff, I like the note of leaders being, strong confident and clear.
Hi Gina - can you also send me Gateniuk@gmail.com
Your knowledge will still be there as you come through this. Work on sharpening your skills.
I’m looking to fill a vacancy now, even if the prospective tenant only pays a month due to job loss, some income is better than none
President speaking now
what about using your insurance policy
Thank you everyone and lets set up that chat room at UNITINGINVESTORS.ORG
Thank you...very helpful communication!
I think Gina wants us to email her so she can simply reply to all, not take our emails out of this chat box, which would be labor intensive for her.
Submit all questions in the group chat or email email@example.com
I've filed a claim for Business Interruption with my insurance company. they said a lot of carriers aren't honoring that because that clause is more related to the PROPERTY having problems earning money, not the TENANTS being able to pay
Yes, please. Or I can toss it into my bigger pockets blog
but worth trying
Told her to post to Google Docs and post URL
Are there any investors buying properties during this period? SEG5INVEST@GMAIL.COM
Or someone do it once they get it and post to the chat room
several of us are rehabbing with private lender funding. in the case where the loan term is nearing the end and rehabbing can't be finished... and buyers are not able to buy , is there some protection for failure to be able to close the agreement with private lenders
Do we all have access to Unitinginvestors.org?
Yes we want to lend
Paul just talk to them. most private lenders are understanding. communication is key.
Gina, my email is firstname.lastname@example.org
Stay open Home Depot. : )
Yes, everyone can access unitinginvestors.org, just need to create an account.
I do not have access but I’m not an official BREIA member. Is that related?
Ah ok thank you
have tenant who got upset with his employer and quit his job and has advised me that due to ban on evictions that I can not evict. obviously not COVID related, just want to verify that he can't stop paying and still live in my house
Gina I would like the information also email@example.com
Gina, my email is firstname.lastname@example.org, Melanie Gonzales
where can we order purell for apartment community
any suggestions ?
Start early on your talks with your private lenders. Be clear be honest and ask what works best for both of you
Can we resolve to address the eviction moratorium at some point soon. I have pending evictions that I fear will be stalled even though they have nothing to do with the virus.
Courts are closed around here - can't evict if you can't serve.
Thank you ALL - Brian Home Depot Pro - Brian_Aguirre@HomeDepot.com
National Account Manager NREIA.
let me know if you have HVAC questions. spreading thru HVAC is tricky to confirm. email@example.com
Does anyone know what the United Investors site Rebecca mentioned address or contact info is?
Yes accurate. Hand washing is more effective than hand sanitizer as well
can we get contact info for jeff and Charles?
Going to listen to the president’s address
Thank you for a great presentation!
great job guys
Great Job National REIA
thank you . Good job
Thank you All for your time and knowledge, stay safe all!
amazing leadership - Thought and Prayers to all Thank you for this call. Brian - NREIA Home Depot!
Thank you for this
Thank you, great job!
I appreciate the human element you all are sharing. We all need to keep this in mind.
HOW DO YOU GET REIMBURSED FOR VACATUIN RENTAL CANCELATUINS?
Thanks a million
Great Job national REIA
Thank you for all of the information shared today!
will the recording be sent out on todays call?
Thanks! Keep these coming.
Thank you for the clarification on topics that we all wanted to know and giving us reinforcement to Hold Fast and Be Human!
Excellent information. Thanks
Thank You for keeping us ahead of the curve
Thank you for this service. Great information!
Great Webinar. Thank you for all you do
Stay Calm and Carry On :)
Thank you all! Work with your tenants and contractors: “How can we work together to not put either of our families at risk and take care of each other?”
Please have another call within a week or a few days to provide updates. Nice job!
Timely info, thanks
Thank you. You're walking the talk!
Thank you so much