Lots of interesting news today

WARRIORWELDING said:
Most recent, and not because of this conversation I have been playing a lot of dollar figures in my head for the current status of each and the long term cost of them all. It doesn't play nice at all unless your willing to be a capitalist and take full advantage of the "renters market". It genuinely makes my stomach turn because I was raised so differently.
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Assuming you're a landlord or could be...
Why not rent them for below market rate, at a point where you're not losing money. Do good by your own morals and values by being generous. But play the long game of real estate values increasing each year until you're ready to sell them and cash out.
That way you're being a good human and still looking out for yourself.
 
Biden has his best guy on it!
 

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Jody Treadway said:
Assuming you're a landlord or could be...
Why not rent them for below market rate, at a point where you're not losing money. Do good by your own morals and values by being generous. But play the long game of real estate values increasing each year until you're ready to sell them and cash out.
That way you're being a good human and still looking out for yourself.
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Yep! I rent ours at what I feel is fair, and still profitable. Definitely could get a lot more but a good tenant is far more valuable than cash flow. Either way the property is gaining equity.
 
Jody Treadway said:
Assuming you're a landlord or could be...
Why not rent them for below market rate, at a point where you're not losing money. Do good by your own morals and values by being generous. But play the long game of real estate values increasing each year until you're ready to sell them and cash out.
That way you're being a good human and still looking out for yourself.
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Already in place good sir. Well sort of. One has a long term tenant of 12 plus years. He wants to buy. One is in the middle of a tenant leaving and the other is getting some work to get on the market again. The long game seems to be ready to flip or sell before really big ticket items need replacing or factor a lot of on hand funds. Living on the entirety of the money taken in is a recipe for long term failure.
 
WARRIORWELDING said:
Already in place good sir. Well sort of. One has a long term tenant of 12 plus years. He wants to buy. One is in the middle of a tenant leaving and the other is getting some work to get on the market again. The long game seems to be ready to flip or sell before really big ticket items need replacing or factor a lot of on hand funds. Living on the entirety of the money taken in is a recipe for long term failure.
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It gets lots of landlords into trouble.
Big ticket items like Roofs and HVAC are Capex and largely ignored. Its the other side to the "greedy landlords charge too much" coin.

Quick easy math -
if a new roof will cost $10k and needs to be replaced every 15 years - that roof costs $56/month.
If new HVAC costs $7,500 and replaced every 10 years that HVAC costs $63/month.

A proper business looks at:
1- servicing the debt (mortgage payment)
2- Capex
3- Opex (incremental repairs along the way, depending on your accountant insurance and taxes may come in here)

all before considering profit.

I make money on my rentals and I believe ion charging full market rate. I have found that when you charge below market rate, you attract marginally qualified tenants, because the well qualified ones assume something is wrong for it to be below rate.
Then I make sure that my homes are top of the market condition, I upgrade every repair...and if you are great, its been a good year and I want to reward...Ive been known to tell them to skip December's payment.
 
Noel said:
Well to be fair, he did continue after a plea.
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What are his other options? Go out of business? Spend $10-15k per truck reinstalling equipment that makes the government feel better?
 
jeepinmatt said:
What are his other options? Go out of business? Spend $10-15k per truck reinstalling equipment that makes the government feel better?
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Yes.
Because its his fault he has that expense to begin with.

I don't like the EPA and think the rules are dumb and unreasonable, but as an adult I also know the consequences of not going along with them, and recognize that there may be high expenses of not doing so.
I can only assume the removal was to save gas costs. In the caiptalist view, that gave him a competitive business advantage over other operators who chose to obey the law. What happened to the $$ saved or gained?

Personally I'd rather be out of business than 20 years in Federal ass-pounding prison and owing $25k on top of it.
 
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Ron said:
It gets lots of landlords into trouble.
Big ticket items like Roofs and HVAC are Capex and largely ignored. Its the other side to the "greedy landlords charge too much" coin.

Quick easy math -
if a new roof will cost $10k and needs to be replaced every 15 years - that roof costs $56/month.
If new HVAC costs $7,500 and replaced every 10 years that HVAC costs $63/month.

A proper business looks at:
1- servicing the debt (mortgage payment)
2- Capex
3- Opex (incremental repairs along the way, depending on your accountant insurance and taxes may come in here)

all before considering profit.

I make money on my rentals and I believe ion charging full market rate. I have found that when you charge below market rate, you attract marginally qualified tenants, because the well qualified ones assume something is wrong for it to be below rate.
Then I make sure that my homes are top of the market condition, I upgrade every repair...and if you are great, its been a good year and I want to reward...Ive been known to tell them to skip December's payment.
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To help with English

Capex = capitol expenses - stuff that comes up occasionally like reroofing, upgrading electrical or plumbing systems, and installing new windows or doors.
Opex = operating expenses - recurring expenses just to operate it like marketing and advertising, leasing and property management, common repairs and maintenance, insurance, and property taxes.
 
Good Lord, yall is gettin weak. I miss the old guard of the internet.
 
RatLabGuy said:
Yes.
Because its his fault he has that expense to begin with.

I don't like the EPA and think the rules are dumb and unreasonable, but as an adult I also know the consequences of not going along with them, and recognize that there may be high expenses of not doing so.
I can only assume the removal was to save gas costs. In the caiptalist view, that gave him a competitive business advantage over other operators who chose to obey the law. What happened to the $$ saved or gained?

Personally I'd rather be out of business than 20 years in Federal ass-pounding prison and owing $25k on top of it.
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While I agree that he is responsible for his actions, and I'm sure he was aware that he was breaking the law, I was shocked to see the owner of a small business being sentenced to jail time over it.

I would also wager that the equipment in question was removed/disabled to allow his tow trucks to tow and not need towing, rather than to save on fuel cost.
 
YotaOnRocks said:
While I agree that he is responsible for his actions, and I'm sure he was aware that he was breaking the law, I was shocked to see the owner of a small business being sentenced to jail time over it.

I would also wager that the equipment in question was removed/disabled to allow his tow trucks to tow and not need towing, rather than to save on fuel cost.
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1.... make an example of one random small time dude and all the others are likely to stay in line. The best form of terrorism is to make everyone feel vulnerable.
2..... I mean, dude was warned he'd be in trouble, didn't do anything, then had a plea deal that would have prevented the jail time, and still didn't address it. That doesn't sound like they just went right for jail time.
 
RatLabGuy said:
1.... make an example of one random small time dude and all the others are likely to stay in line. The best form of terrorism is to make everyone feel vulnerable.
2..... I mean, dude was warned he'd be in trouble, didn't do anything, then had a plea deal that would have prevented the jail time, and still didn't address it. That doesn't sound like they just went right for jail time.
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So you think people should go to jail for violating arbitration rules of regulatory agencies on used trucks that they own? It’s not even a safety issue.
 
jeepinmatt said:
So you think people should go to jail for violating arbitration rules of regulatory agencies on used trucks that they own? It’s not even a safety issue.
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Please quote where I said I agreed with anything they did.
 
I wanted to delete my rollback but i cross state lines and didn't want to get impounded in another state. I have been inspected in other states without issues so far. I have another wrecker service that has called the dot on me before saying i didn't have a health card in Corbin, Ky They run me down and pulled me over i was hauling a garbage truck to the international dealer it was hot and the truck had been broke down a week with rotted meat in it. I almost puked hooking it up to tow it stunk real bad. The dot pulled about 6 foot from the back of the garbage truck and when he got out the wind was blowing toward him it hit him and he run out in traffic and almost got hit by a car trying to get away from the smell. He asked for my health card only i gave it to him and he done a inspection on my truck only the front lights he wouldn't go to the rear and check them lights. I asked who called he said he couldn't tell me but i seen my competitor about 10 minutes before i got pulled over. I keep my truck up to code on everything and my competitor worries more about my business than his.
 
nypost.com

Family of dad who drove off collapsed bridge, drowned after following app directions sues Google

Philip Paxson’s family is suing Google for negligence after the dad of two died after driving off a collapsed bridge as he followed directions given on Maps.
nypost.com nypost.com
That sucks. Lot of failures all around.

Its hard to point the finger at Google after there should have been other things preventing it in the first place, but I'll say it definitely is hard to get them to fix map errors. I'd wager they face these suits a lot.
 
RatLabGuy said:
nypost.com

Family of dad who drove off collapsed bridge, drowned after following app directions sues Google

Philip Paxson’s family is suing Google for negligence after the dad of two died after driving off a collapsed bridge as he followed directions given on Maps.
nypost.com nypost.com
That sucks. Lot of failures all around.

Its hard to point the finger at Google after there should have been other things preventing it in the first place, but I'll say it definitely is hard to get them to fix map errors. I'd wager they face these suits a lot.
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One would think the liability would fall on the road commission for not putting up road signs or blockades as they surely new the bridge was out??
 
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