I've been in maximum safety mode for some time now, paying down debt tied to my assets, and shedding rentals in our local dictatorship aka the City of Philadelphia where it now takes 5 months minimum to evict a tenant for nonpayment. Imagine when the SHTF and folks loose financial access to real needs? My current non paying tenant is still fully employed, the house he ;resides was sold 4 months ago but was promised to the buyer to be without occupants. Yesterday we unloaded the house next-door, the buyer's out of pocket on a $177,000 purchase was $4000, with the City of Philadelphia provided a first time homebuyer grant of $3200 if she remains in the home for 15 years.
Just thinking for $800 down not much skin in the game, who knows maybe Philadelphia will outlaw evictions across the board for all reasons. That would guarantee reelection by the masses.
One of my close friends believes I've missed out on massive gains in RE and the stock market.
My retort, my wallet is full, I have some gold and silver, little debt, guns and butter.
When the time comes will you fault or envy me for. having the best seat on the lifeboat?
Dennis, when we had non payment issues, my handyman would go and “un-repair” the central AC unit, usually by just pulling the breaker on the compressor. The freeloaders would call, and my answer was “I can’t pay the repair man until you pay the rent”. When it’s 98 degrees and 80% humidity, the rent money would appear very quickly.
The home I sold on Friday was occupied by long term tenant who. was current for 8 years. Covid turn him from a hard working fellow to an bum. He did not loose employment as a manager of the local home center. However, watching the world lazing on its ass while he worked and paid bills was too much. He figured to get a piece of the Covid pie. I'm way ahead of you I pulled the disconnect to the cooling system in the winter. Come summer he enrolled in a City sponsored program that resulted in our receiving all of his back rent and water bills along with late fees. This was the requirement to fix cooling system, none the less he did not continue to pay the rent going forward this allowed a speedy eviction, 3 months later he was homeless. Since that time he was arrested for DUI, speeding, non attendence of multiple court dates (his mail continues to come to the house. Trump and Joe Biden using Covid as their excuse have done what Woodrow Wilson only dreamed of and not a shot was fired at the middle class.
Yes bro, all of these democratic/communist cities are close to collapse. Their motto use to be “equality, tolerance, diversity, changed to equity, give me your money and white lives don’t matter. Now it’s murder, mayhem and God damn America…the funny part is at the end of the day, they only have each other to screw, and they perform exceptionally in their roles of useful idiots…
I LIVE for this amazing team's daily missives. So perfectly detached, yet deeply involved at the same time. They're trying their best to make sure that we "dear readers" don't drown, if and when the Phitt shits the hand. I am grateful for the Bonner gang's passion and compassion! Glenn
Maybe the big “story” this year in the US will be destruction of the commercial real estate market. So few businesses are prepared to handle higher interest rates. I am correct in having said that interest rates will have to rise above the inflation rate and likely will. Our US financial system has gotten so out of whack that it is almost unrecognizable from when I was a child. I remember my Dad explaining “banana republics,” “funny money,” and why having a national debt was foolish. This was around the dinner table in the early 1970’s. We are a banana republic now, built on funny money with an incredible national debt to pay off. 😢
I've been in maximum safety mode for some time now, paying down debt tied to my assets, and shedding rentals in our local dictatorship aka the City of Philadelphia where it now takes 5 months minimum to evict a tenant for nonpayment. Imagine when the SHTF and folks loose financial access to real needs? My current non paying tenant is still fully employed, the house he ;resides was sold 4 months ago but was promised to the buyer to be without occupants. Yesterday we unloaded the house next-door, the buyer's out of pocket on a $177,000 purchase was $4000, with the City of Philadelphia provided a first time homebuyer grant of $3200 if she remains in the home for 15 years.
Just thinking for $800 down not much skin in the game, who knows maybe Philadelphia will outlaw evictions across the board for all reasons. That would guarantee reelection by the masses.
One of my close friends believes I've missed out on massive gains in RE and the stock market.
My retort, my wallet is full, I have some gold and silver, little debt, guns and butter.
When the time comes will you fault or envy me for. having the best seat on the lifeboat?
Dennis, when we had non payment issues, my handyman would go and “un-repair” the central AC unit, usually by just pulling the breaker on the compressor. The freeloaders would call, and my answer was “I can’t pay the repair man until you pay the rent”. When it’s 98 degrees and 80% humidity, the rent money would appear very quickly.
The home I sold on Friday was occupied by long term tenant who. was current for 8 years. Covid turn him from a hard working fellow to an bum. He did not loose employment as a manager of the local home center. However, watching the world lazing on its ass while he worked and paid bills was too much. He figured to get a piece of the Covid pie. I'm way ahead of you I pulled the disconnect to the cooling system in the winter. Come summer he enrolled in a City sponsored program that resulted in our receiving all of his back rent and water bills along with late fees. This was the requirement to fix cooling system, none the less he did not continue to pay the rent going forward this allowed a speedy eviction, 3 months later he was homeless. Since that time he was arrested for DUI, speeding, non attendence of multiple court dates (his mail continues to come to the house. Trump and Joe Biden using Covid as their excuse have done what Woodrow Wilson only dreamed of and not a shot was fired at the middle class.
Yes bro, all of these democratic/communist cities are close to collapse. Their motto use to be “equality, tolerance, diversity, changed to equity, give me your money and white lives don’t matter. Now it’s murder, mayhem and God damn America…the funny part is at the end of the day, they only have each other to screw, and they perform exceptionally in their roles of useful idiots…
I LIVE for this amazing team's daily missives. So perfectly detached, yet deeply involved at the same time. They're trying their best to make sure that we "dear readers" don't drown, if and when the Phitt shits the hand. I am grateful for the Bonner gang's passion and compassion! Glenn
Maybe the big “story” this year in the US will be destruction of the commercial real estate market. So few businesses are prepared to handle higher interest rates. I am correct in having said that interest rates will have to rise above the inflation rate and likely will. Our US financial system has gotten so out of whack that it is almost unrecognizable from when I was a child. I remember my Dad explaining “banana republics,” “funny money,” and why having a national debt was foolish. This was around the dinner table in the early 1970’s. We are a banana republic now, built on funny money with an incredible national debt to pay off. 😢