I meant specific to real estate. The industry is receiving the opposite of a stimulus.
General payroll credits or loans apply.
Actually the new depreciation schedules in the bill are awesome for a typical Heimish multi-family owner.
Hotels got a nice exception with each property in a portfolio being considered independent.
Every property is it’s own small business.
Biggest costs in real estate are interest, payroll, utilities. R&M can usually be fit into payroll & utilities as well. BTW contractors are considered payroll for the sake of these loans. So if these get turned to grants it’s free money.
I actually think real estate did very well here.
Macro-wise- there are many aid and charities setting up now to help people pay for the 3 necessities: Medicine, Food, and Housing. So they’ll be more rents coming in than expenditures to non-essentials. The people getting enhanced unemployment will easily be able to cover rent, in fact many are gonna be making more money. And the stimulus checks will also get used on rent.
Yes the moratoriums are terrible but I’m gonna keep a nice list and evict anyone who took advantage of us, I’ll know who still has a job etc.
I’m not planning on asking for any forbearance at this point, on the contrary, I’d rather accelerate some interest payments and prepay utilities which will then be counted as grants.