Wed, 1 April 2020
1424: When Tenants Can’t Pay, COVID-19 Baby Boom, Decline of China, Trump Takes Over The Fed, Mortgage Update
Jason speaks with a client about their experience with a tenant not paying April 1. What are some creative resolutions to a tenant not being able to pay in hard times? In most situations, being strict with your tenant is advised, but in times as tragic as these, compassion goes a long way. What’s to come of China’s role in the world?
In part two of today's show, Adam checks in with a lender for updates on mortgage rates and what to expect going forward. Lenders are still wary about how the market will go but advances in technology are being improved to close deals remotely. This is because tools are becoming more readily available like online notary with video proof.
[2:30] Tenants aren’t paying rent, but it’s our time as landlords to adjust our strategies
[8:00] Have a little compassion for your tenants
[12:30] Look for creative resolutions to tenants not able to pay April rent
[17:40] Now, what is China’s role in the world, it’s changed so fast?
[28:00] When mortgage rates hit historic lows, and everyone is trying to refinance in one month, lenders hit capacity
[29:30] As we look for normalcy in the market, lenders are still very wary of where it may go
[25:15] Unemployment claims typically hover around $600k (weekly basis), predicted by Goldman Sachs to rise to $2.25 million
[39:00] If you want to know what’s best for your rate, you want to see the fed or other entities buying up mortgage-backed securities
[42:40] Technology is making advances so loans can continue to close, eg. online notary