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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18893353 No.18893353 [Reply] [Original]

Looks like landlords are going to start having to get a job soon. :^)
What will they put on their resume?

>> No.18893376

NOOOOOO NOT THE HECKIN LANDLORDS!

>> No.18893602

>>18893376
Landlords need a bail out. Overleveraging property to run a high risk business? They shouldn't have to go bankrupt :^(

>> No.18894250

>>18893353
Wow man, 6 months with no rent is worth having to find a new place afterwards. This is a really stupid law.

>> No.18894309

>>18893353
>SIX. MORE. MONTHS

>> No.18894332

>>18893353
incredible, i’m really excited to see how things turn out in three months let alone six

>> No.18894338

>>18893353
I'm a people person and a problem solver.

I managed a bunch of poorfags incapable of affording housing and too stupid to move somewhere else.

>> No.18894413

over half of america is going to become section 8 EOY

>> No.18894816

Never paying again ;)

>> No.18894841
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18894841

>>18893353
Could be worse

>> No.18894860

>>18893602
real talk... what happens to the renters when the landlord loses his building? does the bank just allow everyone to stay?

>> No.18894965

>>18894841
You mean better.

>> No.18894984
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18894984

>>18893353
Fuck landies

>> No.18895129

Time for some "random" fires to break out in the apartments of my deadbeat tenants then.
Love fire insurance and lax investigators.

>> No.18895166

>>18893353
>What will they put on their resume?
i owned my fathers land and got free money for decades, please trust me to do complicated tasks

>> No.18895191

>>18894860
Banks will take back the house and tenants will be kicked out.
Watch The Big Short.
It happened in the 2008 crash.

>> No.18895195
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18895195

>>18893353
>>18893376
>>18894816
>>18894841
>>18894984
I see the socialist traps are raiding biz.
This is a capitalist Korean saddle making board you traps get out.

>> No.18895922
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18895922

OHHH LANDIES

>> No.18895945

>>18893353
If the tenants don't pay rent then I guess the landlords don't have to fix shit when it breaks

Good luck to all

>> No.18896007

>>18893353
Democrats are accelerating. They want this country to be a massive shit hole come election time. The Arab Spring-tier prisoner releases were just the beginning to the real chaos.

>> No.18896017

>>18893602
>I DESERVE ALL YOUR MONEY BECAUSE MUH RISK
>waaaahhhhh bail me out government I played a stupid game and won a stupid prize

>> No.18896035

>>18895945
>landlords don't have to fix shit when it breaks
so business as usual, but now it's free?

>> No.18896205

>>18895922
kek

>> No.18896392

>>18895195
Except this is a NEET gibs board you wagekek

>> No.18896714
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18896714

>>18893353
Oh look, another poor fag cope thread.
Here's what's gonna happen.
:Renter stops paying
Landlord documents delinquent payments
Eviction bans expire
Landlord files lawsuit against your dumb ass
Renter is now on the hook for 6 months rent
Renters credit is ruined
Renter is back listed from renting
Renters wages are now garnished for a good 2-3 years.

Not paying is a good way to fuck up your future OP.
I have enough cash on hand to pay both mortgages for 18 months.
But renters are so dumb they live paycheck to paycheck.

>> No.18896778

Seattle is such a shit hole I hate what this place has turned into

>> No.18896805

>>18894860
this is the problem nobody buying stocks has bothered to consider

>> No.18896811

>>18896714
>he thinks courts will prosecute literally hundreds of millions of people for not paying rent
Cope harder you over leveraged retard. Your tenants will get literal YEARS of free rent, and there's not a single thing you'll be able to do during or after. Only one exiting this with bad credit is you.

>> No.18896821

>>18895945
they do by law, i dont see any states or cities passing exemptions on that yet

>> No.18896827
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18896827

>>18896714
How do I become a leaser/landlord?

>> No.18896839

>>18896007
this guy gets it. honestly it wouldnt surprise me if dems colluded with the chinks to make sure the virus got a good foothold here after the wuhan outbreak

>> No.18896862

>>18894250
yeah your credit will also be fucked for 7 years though. is that worth it?

>> No.18896875
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18896875

All my tenants paid again this month, they are good people, i made sure of that before letting them lease from me. I hope the landlords that rent to trash people go bankrupt so i can buy their properties for pennies on the dollar, rehab them, and put people in them i want to live in the same town with. Ive been waiting for a recession for 10 years to take out the garbage.

>> No.18896877

>>18896811
>Doesn't understand state and federal law.

My father rents out 3 houses and he's had to garish wages before.
Even had renters BEG him to accept a lump sum to get the garnishment off their credit report.
Garnished wages FUCK you over big time.
Don't mess up your future because you don't feel like paying.

>> No.18896881

>>18896862
show them the neetbux you earned swinging on /biz/, that’ll shut them up

>> No.18896912

>>18896714
This is what a lot of fucking retards don't consider.

Unless you are a fucking slumlord most people who are renting from you are normal people trying to live their lives and if they don't pay you can out of spite just absolutely fuck their credit which is a more costly endeavor overall for the renter to endure.

On top of this what the fuck is going to happen they eventually get evicted? They are gonna go rent another nice 2000 dollar studio in Seattle with their credit history and previous rental history?

>t. landlord

>>18896827
20% down on shitty properties depending on how shitty and how much sweat equity you want to put in.

You usually don't want to invest in your backyard unless your city/area has good metrics which is low crime, good population growth, rising prices in real estate, and overall median income.

You would arguably need all these metrics to be higher then the average across the states then you can find yourself a nice shitty place fix it up and rent it out or if you have cash find a decent place like a duplex or triplex and try to house hack it starting out.

Being a landlord is not a one way ticket to wealth, yeah you can build a lot of equity and 5 or 10 years down the road you can do a 1033 exchange up to larger properties but you even hit 10k net a month is a fucking monstrous and arduous task.

>> No.18896929

>>18896827
Don't be stupid with money.
That excludes 99% of /biz/ though.
Takes about $40k to buy a 2nd house.
Not really that hard to save up even with low wages. You can't buy new phones or go to bars every week. Save the $$$

>> No.18896974

>>18895129
have fun getting locked up for capital murder (death penalty in many states)

>> No.18896981

>>18895191
This. The idiot landlords set themselves up for this, but the scumbag tenants are too stupid to think 3 steps ahead. Probably why they rent in the first place.
>be fucktard
>rent something and stop paying rent because muh corona
>pass cost to landlord
>wonder why rent increases

You can't help these people. You can explain interest-rate or market risk to them. You can't explain consequence. They are programmed to be mediocre. Democracy was a mistake.

>> No.18897004

>>18896017
>The joke

>Your head

>> No.18897020

>>18896877
>had reading comprehensions problems
Yep, I'm sure the state will prosecute hundreds of millions of people and garnish wages which don't exist just for you. It seems you'll be delusionally coping all the way until the end.

>> No.18897041

>>18896862
You do understand everyone will have bad credit after this...right?

>> No.18897065

>>18897020
>Hundreds of millions of people
>In America were there are only 320 million people

>> No.18897077

>>18897041
i disagree. most people in the US that lost their job because of this are getting unemployment PLUS $600 a week. so most of them are paying rent and still have plenty left over afterwards.

don't know how anyone could be so retarded with money that they're so poor they can't even pay rent right now with all the programs going on like the CARES act and the EIDL and PPP loans for small businesses.

>> No.18897085

>>18896811
>>18897020
You would be surprised at how easy this is fucking up peoples financial history and garnishing their wages.

Granted for landlords in Seattle or Washington in general will be difficult because they are pro tenant, but if you are in a landlord friendly state it is extremely easy.

Also yeah overleveraged landlords will get the rope and fuck themselves up because they wanted too many youtube videos and bought too many 10000 dollar courses on becoming a millionaire, but most of us landlords will be fine.

>> No.18897096

>>18897020
We jail millions of niggers every year easily.
You cannot excape the law.
Not paying rent will fuck you over long term.
I have my renter's information, they cannot excape. If they try to run, as they usually do; you basically automatically win in court.
And any new job wages will be garnished.
And companies don't like keeping people with large outstanding debts.

DO NOT FUCK yourself over for the next 3-5 years because you though not paying rent was a good idea.

>> No.18897098

>>18896862
>he doesn't just spin up a new LLC and get a corporate lease with no credit or background check every time he needs an apartment
ngmi

>> No.18897115

>>18893353
I'm a landlord and unfortunately any jobs I've applied for (for something to do) wouldn't take "Nervos accumulator" as a job. Weird.

>> No.18897118

>>18896862
wont mean shit, can literally be explained away with "sorry bro coronavirus you know?"

>> No.18897130

>>18897118
yeah i'm sure banks processing mortgage applications will be totally cool with that

>> No.18897148

>>18897118
lmao what, now why shit pajeet tokens keep getting peddled here because there is a slice on /biz/ just retarded enough to buy it.

>> No.18897180

>>18896877
sounds like your dad is a usurer

>> No.18897192

>>18897130
banks are the ones literally deferring loan payments because of "sorry to hear about coronavirus"

>> No.18897208

>>18897096
Yes, I'm sure they'll kick out millions of violent niggers and expand the prison capacity by multiple orders of magnitude just for you. Stay delusional.

>> No.18897226

>>18897192
i'm talking 3 years from now when this is a footnote in history. not now you retard. getting evicted and having garnishments for unpaid rent can stay on your credit history for 7 years.

in fact landlords search court history whenever they rent to a person to see if they've ever been evicted before.

if you seriously don't have the money and can't pay, that's one thing, but there are tons of programs out there to help people like the CARES act and PPP loans. if you're just using this eviction moratorium so you can gamble your money on penny stocks and crypto you deserve everything that will happen to you.

>> No.18897271

>>18896862
there is going to blanket debt immunity or at least a credit reset.

>> No.18897316

>>18896035
Landlord I know iv'e skipped on rent for two months but you're still required to pay for shit I break.

>> No.18897351

>>18894965
This

>> No.18897401

>>18893353

If they do this in new york I'm going to just stop paying, save whatever money I can from not paying rent and then move far away after my lease is up. Just drop off the grid. The courts will be so backed up from evictions and rent breaks it will never catch up to me. The landlord jew will be left holding the bag

>> No.18897426

>>18897401
jews never get left holding the bag

what they'll do is grant you some amount of credit amnesty and short term shit (like trumpbux) to keep you on the teat.

>> No.18897438

>>18897208
Nobody’s talking about putting them in jail, it takes 30 minutes of a judge’s time to do the paperwork that lets you garnish their wages. You can do it by mail in Arizona if they don’t bother responding to the court summons.
We’re taking your money unless you work under the table for the rest of your life. That works for me because you won’t get social security or Medicare then.
This inability to think two steps ahead is why you rent.

>> No.18897453

>>18897426

sounds great to me, those on the teat are having objectively more comfortable and better lives anyway

>> No.18897509

>>18897438
Having fun trying to garnish wages when nobody has a job you dumbfuck. The real question is, how are YOU going to get a job with no work experience?

>> No.18897547

>>18893353
Wait for then to go bankrupt and the values fall meaning less start revenue.

Don't start with the muh other people can but a house then. They will not drop so much every wagie had a white picket fence

>> No.18897575
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18897575

God I could write decent larps of almost anything on 4channel. I could assume the identity of a prestigious high income renteree. I could assume everyone is a nitwit, except me. I could I was a grand gambler on early bitcoin days

>> No.18897598

>>18897509
Going to assume you have no idea what wage garnishment option is to a landlord. There are landlords that don't even report your missed rent payments to the credit agencies.

A landlord taking it that far is there to do it out of pure spite and it hang it over your head for however long it takes. It is malicious method of punishment. Recouping costs is secondary.

If you are not a retarded landowner you should have grown enough equity in your properties that you could either cash out refinance to tide you over for probably literal years or not have rented to fuck ups.

>> No.18897674

>>18896714
debtors are screwed. not just landlords

no jobs, no wages to garnish
no assets to repo
if some defaulted borrowers are fortunate enough to have assets they can liquidate that and buy bitcoin.
literally nothing the state or courts can do to force you to pay - it's not fraud if you declare it openly and you can't be sent to jail over debts.
that's the use case for the next bull run

>> No.18897723

oops i mean creditors/lenders are screwed

>> No.18897799

>>18897598
the fuck? you make a legal contract to pay someone for using their land / improvements. why on earth is it malious to go after tenants who destroy the place so bad or refuse to move out until the sheriff throws them out?
i hate greedy fuckers to don't get me wrong, but i've owned a rental property before (2008 came and my rental propertys neighborhood turned into a ghetto) and i don't see anything wrong if your charging reasonable amounts.
for example with my place we would like to have the rent pay the mortgage, taxes and insurance. plus 10% to go towards repairs and unforeseen expenses.

but i'm getting way off topic. if you rent my house and destroy it to the point where your deposit doesn't cover it, then yes it is completely reasonable to go to court to recover damages. i would also say the same about people who find loop holes to stay in a rental without paying for months, as far as i'm concerned, if you don't want to pay move out lol

>> No.18897861

>>18893602
It wasn’t high risk before this you mong. Just don’t rent to niggers or poors no problem.
>>18894860
Fuck no they will evict immediately
>>18895191
Kek I hope they all end up homeless or dead in a ditch
>>18896035
Slum dweller detected
>>18897041
Not me because I’m not retarded. After this is the prime time to use your good credit to buy up the properties to rent to the morons who did.
>>18897271
Lol keep dreaming
>>18897509
Most people aren’t losers like you

You will all learn soon enough.

>> No.18897879

>>18897004
I was laughing with him, not at him, duh. It's just muh high risk give me shit is a common meme landlords spout.

>> No.18897936

>>18895191
so, protect the heckin land barons?

>> No.18898008

Why do I have to play insurance or taxes if people don't have to pay rent

>> No.18898050

I see this gap in employment where you were a shekel mongler. That's not a job. Would you mind explaining what you did to these people?

>> No.18898078

>>18898008
you owe to the government which has more powers to recoup and collect than you do

>> No.18898278
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18898278

>be landlord
>tenants don't have to pay rent
>I still have to pay the mortgage

>> No.18898324

>>18898278

just stop paying the mortgage. we are in a big game of chicken here.

>> No.18898349

>>18894860
They could sell the individual units of the building to tenants as condos, and raise money from the equity.

>> No.18898434

>>18897598
>A landlord taking it that far is there to do it out of pure spite
Fuck you, pay me.

>> No.18898659

>>18896875
die landie boomer

>> No.18898691

>>18897085
>but most of us landlords will be fine.

I hate kikes and people with kike-like mindsets. I hope things get bad enough that you fear for your safety in the coming days and get shot and burned on the stoop of the house that used to be yours.

>> No.18898802

>>18896974
Any competent lawyer could argue that with no income coming in thanks to the state, they had no money to keep up maintenance on the building

>> No.18898844

>>18893353
Seattle landlords deserve to be ruined desu. Seattle is the biggest real estate bubble and these people are all assholes. city is notorious for landlords who don't give a fuck. plumbing broken? roof collapsed? house on fire? oops i never saw your text
>>18895945
in Seattle, landlords already dont fix shit. The city has a lot of progressive laws on paper, but the resources to enforce none. landlords do whatever they want

>> No.18898876

>>18898802
>Any competent lawyer could argue that with no income coming in thanks to the state, they had no money to keep up maintenance on the building
Law still applies moron. If a landlord is incapable of managing, he's supposed to either
a) hire a professional rental agency
b) sell the land
No one is "forced" to become a landlord. And you might say there's no buyers right now, but that's not true. There's just no buyers at high prices. If a landlord can't manage his building, he's legally required to sell it at a loss.
a jury full of rural dumbfucks isn't going to be terribly sympathetic towards the landlord who refused to sell for $5 million because his building was worth $10 mil

>> No.18898893

>>18893353
Looks like a lot of people will be homeless once the landlords go bankrupt. :^)

>> No.18898911

>>18898876
hmm yet big banks didn't have to take fiscal responsibility for their major losses.

Why do banks hold people accountable for their own insolvency, and recommend having a rainy day fund yet big companies don't?

nationalize companies already, will ya?

>> No.18898953

>>18896714
And while you're trying to extract blood from a stone the bank is demanding 6 months of payment in your property.

>> No.18898967

>>18898911
what the fuck does that have to do with killing tenants by negligence? Clearly the two are different ballparks
i explained the law. landlords arent allowed to lapse in their responsibilities due to financial insolvency. landlords signed a contract. if they weren't able to safely lease their building, they never should've signed a contract. and if they become incapable, they're obligated to fix that, without violating the terms of their tenants leases and the applicable laws on renting. This means, in effect, they have to sell their land or hire a rental agency. I suppose the third option is to somehow get their tenants to leave, but they can't evict to accomplish this. They could pay tenants to leave? Buy them out of their contracts?

>> No.18899044

>>18898967
my point was that legally landlords could come out clean from a law suit regarding insolvency due to tenants not being able to pay.

>> No.18899068

>>18899044
>my point was that legally landlords could come out clean from a law suit regarding insolvency due to tenants not being able to pay.
That's not how it works. When you go to court for murder, you can't say, "Well, Jimmy got away with it! I should too!"
Landlord-tenant relationships are regulated fairly strongly. And killing a tenant by negligence is not someone you can weasel out of because, "banks weasel out of financial losses." Murder is a different ballpark.

>> No.18899075

>>18898844
Not just Seattle landlords but almost all of them deserve to be ruined. The whole housing market has to crash.

>> No.18899169

>>18898911
Small banks don't have to be fiscally responsible either. Bank of America just got a $25 billion dollar small buisness loan that may be forgiven or have no interest rate. God I'm starting to hate the government, unemployed people are making more now then when they were working thanks to $600 extra dollars a week but essential workers are working harder then ever due to no temps and overtime being taken away.

>> No.18899244

>>18896875
Based
>>18898659
Cringe

>> No.18899271

>>18898844
That is because of the dogshit city council and Sawant.

Seattle is dogshit for landlords so landlords are going to be dogshit back

>> No.18899281

>>18898691
lol cope and be trapped in a cycle of poverty you will birth your child into

>> No.18899310

>>18899281

https://www.youtube.com/watch?v=QpiT_DONQdQ

>> No.18899330

>>18899310
Incredibly based

>> No.18899409

>>18899310
lol over 200 bucks and renting to an immigrant from the cartel lands, it was bound to happen.