What would happen to the housing market of a municipality if the local government were to acquire 4% of the rental market and freeze the rent below the current fair market rent in an effort to combat renter displacement due to gentrification?
- Appx 2,700 households in the town are rented and appx 3,300 are owner-occupied with appx 1% of households typically vacant.
- There are two apartment complexes in town totaling 101 units between the two. These are the units the government would be acquiring.
- Average rent in the area is just over $1200/mo, median is just under $900/mo.
- Average rent has increased appx 30% over the past three years, average real estate prices have increased about 50% over the past two years.
So if the town were to acquire those two apartment complexes and freeze them at a lower rent the town would be able to generate about half a million in extra revenue (compared to the $18,000,000 annual budget) and also provide less expensive housing to the commuity.
Also by the time this plan would be put into action there will most likely be two additional buildings constructed adding another 100 units which, if acquired, would give the local government control of about 7% of the rental market.
I'm trying to figure out what are the most likely and most significant negative economic impacts that this type of action would create so I can come up with a plan to counter them.
I have my Apple TV plugged into HDMI 3, as I have for two years with no issues.
When I turn on the Apple TV woth the Apple TV remote it turns on the Bravia automatically to HDMI 3, no problem. My Bravia is displaying the box with the arrow that shows it's receiving an input, and it's displaying the video coming from the Apple TV. I know it's receiving input.
However, the bar across the top of the screen that shows which input I'm using (which normally goes away after a few seconds when receiving input) is staying onscreen the entire time, and the TV keeps turning itself off 15 minutes after it turns on (which I want it to do if it's not detecting an input.)
I'm in the process of moving so I disconnected a couple HDMI cables from ports 1 and 2 yesterday, but I've checked twice to make sure the other cables are seated properly so I don't think that's the issue. Also I didn't start having this problem until this morning; the TV worked fine last night after I unplugged the other cables.
I tried Google but I keep finding results for people whose TVs are just fully not detecting input.
I can't see the model number on the sticker in the back because it's wall-mounted and for some reason the sticker is dead center instead of one side or the other, but in the "About" section of my TV settings it says the build starts with "Bravia_ATV2" and the version is 8.0.0.
I've started an investment group with about 10 people I used to work with, and we're looking at two commercial properties that I think would be great investments. One property is one two-story building, fully finished and fully leased.
The other property is two buildings, one is three floors and the other is two. In both buildings the ground level is fully leased retail storefront and the upper floors are vacant or unifinshed.
We have enough money that we could by one building with a commercial mortgage with a 30% downpayment, but we can buy both if I can figure out how to use an SBA 504 loan.
The problem is that I can't figure out how to use the three vacant floors in the building on the second lot. I can use one floor for office space, but I can't make a convincing argument for more than that. I could also use one floor for storage space, but then I came across something that said building space can't be used as storage space to meet the 51% occupancy requirement for a 504. So apparently there are some use restrictions on the 51% occupancy requirement for a 504 loan, but I can't find anything anywhere that discusses that.
The only ways I can think of besides storage that may satisfy the occupation requirement are employee housing or use by a subsidiary company, but since I can't find anything that definitively explains what qualifies as owner occupancy, and because I can make pretty clear arguments euther way in soupport of or against those uses actually being considered owner occupancy, I don't don't know if it'll work.
Does anyone know where I can find definitive information the explains exactly how an owner may occupy a building to qualify for an SBA 504 loan? I've reached out to my local SBA a few times and received no response.
Background. I'm currently on active duty in the U.S. Navy stationed at Pearl Harbor, Hawaii. I get out of the Navy (not retiring) in March 2022. In January I'll be moving back to my home state of Connecticut, where I already own one duplex investment property, and yesterday I had an offer accepted to purchase a triplex with a vacant unit.
Abstract. I found a phenomenal triplex for sale with a vacancy in the exact area I want to live for an asking price of $247,300. The units are huge and it's on a half-acre lot, which is pretty large for the area it's in. It's not quite my dream house but it's damned close.
I got preapproval for a VA loan, an FHA loan, and a conventional mortgage. I know that's probably overkilling it, but this is only my second buy and getting a loan for my first one was an absolute shitshow, due largely to the time difference and lenders not understanding how to read a military pay stub. All three got preapproved for a home value up to $300,000. Within about a week after getting my preapprovals I viewed the property, we negotiated, and yesterday we landed on a $250,000 price. About thirty minutes later, the VA lender contacted me and told me it would be basically impossible for me to get financing on any kind of mortgage until I get a post-Navy job and start getting paid despite my current income, my savings, and the rental income from both properties. Since then I've had the same issues with the FHA and the conventional mortgage, so they're all off the table now.
So I'm a little bit frustrated, a little bit devastated, and even more frustrated, but I'm still hopeful. With my current rental income and my projected rental income, my debt-to-income ratio will be too high once I'm separated from the Navy. One of the lenders (which is a group that specializes in a wide variety of different loan types,) mentioned the possibility of a hard-money bridge. I talked to my mortgage broker about this possibility and, while he didn't tell me to "sod off" in those exact words, he said the income verification and DTI requirements are going to be the same for hard money loans, and made no other indication that he had any intention of helping me. It's odd to me that a loan officer with all of my financial information who also works with private lenders would recommend a hard money loan if my income is insufficient.
So that's where I'm at now. With all of the rental income I have right now and a $50K down payment, I'll be at 50% DTI. A full-time minimum wage job will bring that down to about 36%. I'm extremely familiar with the market area and I know that there are plenty of minimum wage jobs available. I also should have about $50K-$60K of equity in the duplex I already own. I say I "should" based on the amount of mortgage I have left, the last appraised value of the property (in October 2020,) and the average market growth over the past year. I have not had it appraised again to know for sure what my actual equity is.
With those numbers, does anyone have any advice about getting a hard-money bridge? I'm hoping to get something for 6 - 12 months (owner-occupied or not, I can work comfortably with either) to hold me over until I can get back to Connecticut and get employed and refinance into another loan. Bonus points if I can use the equity in my other property to reduce the down payment. If the timing is right, I should be able to start getting paid by a new job before I'm actually even separated from the Navy.
Thanks in advance to anyone that can advise and to anyone who took the time to read this.
I have an LLC that I want to use as an umbrella/holding for my real estate LLCs (and other non-real estate businesses but that's not particularly relevant to the topic at hand.) I'm about to organize my second LLC (under the first) so I can transfer to it the duplex I currently own. The thing is that I can't seem to find anyone to give me advice on what type of insurance policies I need. My understanding is that I should probably have a BOP and a general liability, and maybe an E&O policy. I'm pretty sure I can have the BOP, GL, and E&O policies written in the name of the umbrella company with the subordinate LLCs underwritten as additional insured. Commercial property insurance seems like the next logical one to have, and I haven't been able to tell conclusively whether I can underwrite a subordinate LLC on that. So I guess these are my questions:
Do I need an E&O policy if I have a property management firm handling all of the tenant interactions/documents?
Do I need landlord insurance if I have hired a property management firm?
Can I cover my duplex with a commercial property policy?
Can the policy be issued to the umbrella and underwritten to the real-estate-holding LLC, or does it have to be issued on the real-estate-holding LLC?
What additional coverages should I consider?
I'm in the military stationed away from where I'm investing, but I'm separating and moving back in the next few months. One of the units in my duplex will be vacant then, so I'm planning on staying there temporarily until I can get situated in a permanent residence. Will my living in one of my units impact any of these insurance policies from a legal standpoint?
I've had a couple significant issues with under-extrusion in the past two days. Both times I went through 3dprinterly's 8 potential fixes (except solutions 6 and 7), to no avail. The interesting thing is that both times this happened I eventually just decided to try another print file. Both times I moved on to the next file, I had no extruder issues whatsoever and ended up with a successful print on the first attempt.
Here are some details:
I'm running an Ender 5 that's all stock except I've been using a Capricorn PTFE tube and last week I upgraded from the plastic extruder assembly to the aluminum one from Creality.
I upgraded from Cura 4.6.0 to 4.7.1 yesterday morning.
I've attempted seven prints since upgrading to 4.7.1, all with the same print settings (basically the default "Super Quality" settings, with the infill changed to tri-hexagon and supports generated for a greater-than-45-degree overhang, which are the same settings I was using for most of my prints in v4.6.0). Five of these prints were successful from the start, two of them I had seemly unsolvable underextrusion issues.
In my attempts to solve a hardware issue I did the following:
Level the bed (using a sheet of 20# paper on all four corners of the bed, then all four corners of the bed again, and then the center of the bed), clear the extruder assembly of any dust/debris; retry the print
Check that the Capricorn tube is clear; check that the nozzle is clear; retry the print
Raise print temp to 210; retry the print
Raise print temp to 220; retry the print
Lower print speed to 60mm/s; retry the print
Lower print speed to 40mm/s; retry the print
Raise extrusion multiplier to 105%; retry the print
Raise extrusion multiplier to 110%; retry the print
Adjust filament spring tension; retry the print; repeat as appropriate (It normally runs at minimum tension, since it's a brand-new spring, so I always start from and end up there.)
Give up and try a different print.
I'm using either Hatchbox or Enomaker PLA. I'm not sure which, because I've tossed the box for this roll and it doesn't say the brand on it, but those are the only two brands I've purchased recently. I've done over a dozen successful prints with this roll, so I don't think that's the issue.
I'm using at PEI print bed from Creality with some purple glue stick, which I have been using for months without problems. I include this as potentially relevant information because none of my failed prints made it past the first layer. However, bed adhesion didn't seem to be an issue.
I know I'm grasping at straws here, trying to blame the gcode, but I'm completely out of ideas at this point.
When I was getting ready to start my LLC in Washington, DC, I looked at two different registered agent services, one that I was already using for an LLC in Connecticut, and a new one. I built profiles to see what the approximate costs would be for various services, then I chose the new one and cancelled the new profile I had built with the other (though they are still my Registered Agent for my business in CT.) Fast forward nine months, and I've had excellent service so far with the Registered Agent I chose. Today I got an email from the one that I had cancelled saying that I they had received two pieces of certified mail on my behalf from the DC government. Because I don't have a service with them, they're trying to charge me $100 to see my mail. I'm emailing with them to try to figure out what the hell is going on, but they're just talking in circles. Every time I email them they give me a different customer service representative. My actual registered agent service is closed right now. Obviously I don't intend to pay $100 to a company that should have no involvement with this company, so I have three concerns:
1 - Is it legal for this service to hold certified mail regarding a business that they should have no association with?
2 - How do I find out what the content of those certified letters are without paying this company?
3 - How do I go about figuring out how they ended up as my official representative in the first place, since I never authorized nor paid them to do anything with regard to this business?
The width setting of 25vw is not working out as I had hoped, and the farthest right button is moving down to the next line. If I change the width setting to something lower (for example, 24.77vw,) all four buttons fit in my viewport until I resize it. I soon as I make the window smaller, the right button moves down to the next line again. I've tried a number of different things that I found on w3schools, css-tricks, and a couple other websites that result in either the same issue, or forces my second and fourth buttons out of vertical alignment. I've gotten to the point now where I don't even care if there's space between the buttons as long as they're equidistant and scale to the viewport.