WEBVTT

1
00:00:13.960 --> 00:00:17.440
<v Speaker 1>Seven six if I have PERCV talk station. Very happy

2
00:00:17.440 --> 00:00:20.640
<v Speaker 1>Wednesday to Jim Neale running for Sheriff. He'll be on

3
00:00:20.640 --> 00:00:21.920
<v Speaker 1>at the bottom of the ar. In the meantime, I'm

4
00:00:21.920 --> 00:00:23.839
<v Speaker 1>happy to welcome back to the fifty five Cassee Morning

5
00:00:23.920 --> 00:00:27.960
<v Speaker 1>So Chief Operating Officer of the National Real Estate Investors Association,

6
00:00:28.120 --> 00:00:30.719
<v Speaker 1>Charles Tassel. Charles, welcome back to the fifty five Carssee

7
00:00:30.760 --> 00:00:32.119
<v Speaker 1>Morning Show. Great to have you on today.

8
00:00:33.399 --> 00:00:34.799
<v Speaker 2>Thank you, Brian, good morning. How are you.

9
00:00:34.960 --> 00:00:37.640
<v Speaker 1>I'm doing well well. I just feel like I got

10
00:00:37.640 --> 00:00:40.799
<v Speaker 1>to qualify as far as the things over which I

11
00:00:40.880 --> 00:00:44.399
<v Speaker 1>have controlled, Charles, I'm doing fine. Beyond that, I feel

12
00:00:44.439 --> 00:00:48.039
<v Speaker 1>like I'm in a crisis. Anyway. Remind my listeners before

13
00:00:48.039 --> 00:00:52.479
<v Speaker 1>we dive into the emergency rental assistance programs plural and

14
00:00:53.000 --> 00:00:54.960
<v Speaker 1>how it affects runners and landlords, which is the topic

15
00:00:54.960 --> 00:00:56.960
<v Speaker 1>we're talking about today, Remind my listeners what you do

16
00:00:56.960 --> 00:00:58.960
<v Speaker 1>at the National Real Estate Investors Association.

17
00:01:00.399 --> 00:01:03.079
<v Speaker 2>So we have about forty thousand members across the country,

18
00:01:03.479 --> 00:01:05.760
<v Speaker 2>and what we do is really try to put teams

19
00:01:05.760 --> 00:01:09.719
<v Speaker 2>together for investors people who want to invest in real estate,

20
00:01:10.120 --> 00:01:12.280
<v Speaker 2>and really try to help them build a team so

21
00:01:12.319 --> 00:01:14.760
<v Speaker 2>that they can maximize the value that they bring to

22
00:01:14.799 --> 00:01:18.920
<v Speaker 2>the table and build wealth classically as we do in

23
00:01:18.920 --> 00:01:21.200
<v Speaker 2>this country. And have you know this is the original

24
00:01:21.560 --> 00:01:23.799
<v Speaker 2>hustle or side show. You know what kind of that?

25
00:01:24.040 --> 00:01:25.920
<v Speaker 2>How do I make some money on the side. Yeah,

26
00:01:26.079 --> 00:01:29.000
<v Speaker 2>you invest in real estate and it's a long term proposition.

27
00:01:29.200 --> 00:01:31.480
<v Speaker 2>And guess what, you build up your community. You invest

28
00:01:31.519 --> 00:01:34.560
<v Speaker 2>in your community, and you're helping people out who don't

29
00:01:34.560 --> 00:01:36.920
<v Speaker 2>have the capital to get started in housing and in

30
00:01:37.000 --> 00:01:40.400
<v Speaker 2>real estate, and you grow the country. That's what we do.

31
00:01:40.599 --> 00:01:43.040
<v Speaker 1>It sounds like a great idea, great concept, and of

32
00:01:43.079 --> 00:01:46.560
<v Speaker 1>course I like the capitalistic nature around it. Real quick again,

33
00:01:46.599 --> 00:01:49.879
<v Speaker 1>before we get to the emergency mental assistance programs. What

34
00:01:50.359 --> 00:01:53.599
<v Speaker 1>a city like Cincinnati has been struggling for years and years,

35
00:01:53.599 --> 00:01:55.799
<v Speaker 1>as long as I've been paying attention, dealing with the

36
00:01:55.840 --> 00:01:59.359
<v Speaker 1>problem of absentee landlords. You know, you got to have

37
00:01:59.400 --> 00:02:02.000
<v Speaker 1>an apartment buil it's there to make you money. Hopefully

38
00:02:02.040 --> 00:02:03.879
<v Speaker 1>you're taking good care of the tenants, you're keeping you

39
00:02:04.000 --> 00:02:06.120
<v Speaker 1>providing them with electricity and water, and you're keeping the

40
00:02:06.159 --> 00:02:08.599
<v Speaker 1>rodents and investation out. But there are a lot of

41
00:02:08.639 --> 00:02:10.360
<v Speaker 1>them that don't. And when you go to try to

42
00:02:10.400 --> 00:02:13.120
<v Speaker 1>find them and prosecute them. Otherwise hold them accountable under

43
00:02:13.159 --> 00:02:17.599
<v Speaker 1>the laws that exist. They disappear, they change LLC structures,

44
00:02:17.599 --> 00:02:20.400
<v Speaker 1>and you got to start from scratch. Is there a

45
00:02:20.400 --> 00:02:22.599
<v Speaker 1>solution to that? I hate to put you on the

46
00:02:22.639 --> 00:02:25.039
<v Speaker 1>spot for that issue, Charles, but it's one of those

47
00:02:25.039 --> 00:02:26.639
<v Speaker 1>things that just drives everybody crazy.

48
00:02:27.800 --> 00:02:30.080
<v Speaker 2>Well, so there's let me unpack that a couple of ways.

49
00:02:30.240 --> 00:02:32.680
<v Speaker 2>So looks for Apartments Association for a couple of decades

50
00:02:32.719 --> 00:02:36.879
<v Speaker 2>and we worked on this issue and just unpacking different

51
00:02:36.879 --> 00:02:39.280
<v Speaker 2>pieces of it. One is which is what is the

52
00:02:39.280 --> 00:02:42.080
<v Speaker 2>definition of an absenty landlord? Because some communities will say,

53
00:02:42.400 --> 00:02:44.280
<v Speaker 2>you know, if you don't live in our community, you're

54
00:02:44.319 --> 00:02:47.039
<v Speaker 2>an absentee landlord. That's the farthest thing from the truth

55
00:02:47.159 --> 00:02:51.400
<v Speaker 2>right now. The realities are if you're not within I

56
00:02:51.520 --> 00:02:53.719
<v Speaker 2>like to be able to keep eyes on the properties.

57
00:02:53.800 --> 00:02:56.919
<v Speaker 2>They're within the driving range, they're short range. Most people

58
00:02:57.080 --> 00:02:59.560
<v Speaker 2>that do investing will invest in a community or two.

59
00:03:00.000 --> 00:03:02.639
<v Speaker 2>They know their area and that's where they invest, so

60
00:03:02.680 --> 00:03:04.759
<v Speaker 2>they'll pick a community. They'll get to know what they know.

61
00:03:05.199 --> 00:03:07.400
<v Speaker 2>You know, two blocks over is a problem. Two blocks

62
00:03:07.400 --> 00:03:09.400
<v Speaker 2>this way is great. This is where I'd really like

63
00:03:09.439 --> 00:03:12.039
<v Speaker 2>to move to. So that's one piece of it. But

64
00:03:12.080 --> 00:03:15.120
<v Speaker 2>the other side is when you start going into building

65
00:03:15.159 --> 00:03:18.960
<v Speaker 2>inspectors and police departments, they have the ability to go

66
00:03:19.120 --> 00:03:22.280
<v Speaker 2>in and they have standing to go in and find

67
00:03:22.280 --> 00:03:25.000
<v Speaker 2>out who owns that LLC because most properties owning an

68
00:03:25.159 --> 00:03:29.159
<v Speaker 2>LLC right, And so the municipalities what we've encouraged we

69
00:03:29.280 --> 00:03:31.919
<v Speaker 2>actually start We helped the city and the county actually

70
00:03:31.960 --> 00:03:35.159
<v Speaker 2>get the official housing docket put together well back when

71
00:03:35.159 --> 00:03:37.960
<v Speaker 2>they wouldn't talk to each other. That was one of

72
00:03:37.960 --> 00:03:40.599
<v Speaker 2>the first steps. That way, you've got a focused effort

73
00:03:40.879 --> 00:03:43.240
<v Speaker 2>to really address when there are complaints brought in. It's

74
00:03:43.240 --> 00:03:45.560
<v Speaker 2>not hey, I'm dealing with you know, judge saying I'm

75
00:03:45.560 --> 00:03:47.199
<v Speaker 2>dealing with a rape today, I'm dealing with a murder.

76
00:03:47.199 --> 00:03:50.879
<v Speaker 2>I'm dealing with a delayed paint. What is this? You know? Well,

77
00:03:50.919 --> 00:03:53.120
<v Speaker 2>the reason that's delayed paint is because this is one

78
00:03:53.120 --> 00:03:56.039
<v Speaker 2>of the issues that came forward because the person isn't

79
00:03:56.080 --> 00:03:58.800
<v Speaker 2>investing in their property and they're causing problems in the

80
00:03:58.840 --> 00:04:01.840
<v Speaker 2>community and their deteriorating the property and materity values of

81
00:04:01.840 --> 00:04:04.599
<v Speaker 2>not only their property but those around them. So we

82
00:04:04.639 --> 00:04:06.599
<v Speaker 2>want to put the housing docket together. It's one of

83
00:04:06.599 --> 00:04:09.199
<v Speaker 2>the first steps. But the next step is making sure

84
00:04:09.240 --> 00:04:12.439
<v Speaker 2>that these cities and this is where like the City

85
00:04:12.479 --> 00:04:14.840
<v Speaker 2>of Cincinnati has an attorney assigned to their police department.

86
00:04:15.319 --> 00:04:17.480
<v Speaker 2>I believe I'll call him out right now, Mark Manny.

87
00:04:17.519 --> 00:04:19.399
<v Speaker 2>He does a great job with this. You used to

88
00:04:19.439 --> 00:04:22.920
<v Speaker 2>live in Deer Park with him, were neighbors. He is.

89
00:04:23.800 --> 00:04:26.319
<v Speaker 2>His focus is to when the police say, hey, we've

90
00:04:26.360 --> 00:04:28.720
<v Speaker 2>got a problem. We're getting calls or serviced at this property.

91
00:04:30.000 --> 00:04:33.439
<v Speaker 2>He can then go, oh, there's the LLC. Now I

92
00:04:33.560 --> 00:04:35.920
<v Speaker 2>have the ability to go in from a legal perspective,

93
00:04:36.199 --> 00:04:38.800
<v Speaker 2>find out who the actual agent is, find out who

94
00:04:38.839 --> 00:04:41.480
<v Speaker 2>the owner is, and get to the next levels of service.

95
00:04:41.959 --> 00:04:44.879
<v Speaker 2>That's typically the barrier most municipalities run into, and they

96
00:04:44.879 --> 00:04:47.480
<v Speaker 2>don't have the attorneys in illegal backing to help their

97
00:04:47.519 --> 00:04:49.040
<v Speaker 2>people get to that point.

98
00:04:49.160 --> 00:04:52.160
<v Speaker 3>Gotcha, So that's one that's a key step. Now you

99
00:04:52.199 --> 00:04:54.959
<v Speaker 3>can actually got Okay, now I've got something to go after,

100
00:04:55.360 --> 00:04:59.240
<v Speaker 3>because you know, prosecuting the nameless, spaceless LLC, even if

101
00:04:59.240 --> 00:05:03.360
<v Speaker 3>it's you know, one person, only one house, it's very difficult.

102
00:05:04.000 --> 00:05:05.360
<v Speaker 3>So that's part of what we're doing.

103
00:05:05.480 --> 00:05:05.800
<v Speaker 2>Okay.

104
00:05:06.199 --> 00:05:08.879
<v Speaker 1>I appreciate your addressing that and pivoting over, how does

105
00:05:08.920 --> 00:05:13.079
<v Speaker 1>the the I think there are two ers emergency rental

106
00:05:13.120 --> 00:05:17.480
<v Speaker 1>assistance programs collectively forty six billion dollars a tax payer

107
00:05:17.560 --> 00:05:22.600
<v Speaker 1>money to help folks in need evictions, and you know

108
00:05:22.720 --> 00:05:25.360
<v Speaker 1>sometimes it's utility bills that are behind or in arrears

109
00:05:25.399 --> 00:05:29.600
<v Speaker 1>passed to just a variety of different assistance measures. With

110
00:05:29.680 --> 00:05:32.399
<v Speaker 1>all of these billions of dollars, how does that translate

111
00:05:32.519 --> 00:05:35.839
<v Speaker 1>into reality, Charles.

112
00:05:35.839 --> 00:05:40.160
<v Speaker 2>Well, it's so eer money is actually running out. Most

113
00:05:40.199 --> 00:05:44.480
<v Speaker 2>of those funds have all been expended, and the cities

114
00:05:44.519 --> 00:05:47.160
<v Speaker 2>the counties are typically the ones that were handling those funds,

115
00:05:47.199 --> 00:05:51.319
<v Speaker 2>and they had organizations do that for them. So they

116
00:05:51.360 --> 00:05:55.519
<v Speaker 2>went in and if anybody had, let's face it, back

117
00:05:55.519 --> 00:05:57.480
<v Speaker 2>in twenty twenty, it made a whole lot of sense.

118
00:05:58.279 --> 00:06:01.600
<v Speaker 2>In twenty one, you'll see where people had some impact.

119
00:06:01.879 --> 00:06:03.600
<v Speaker 2>They might have lost some housing and they're trying to

120
00:06:03.639 --> 00:06:06.399
<v Speaker 2>catch up because they lost their jobs for a period

121
00:06:06.439 --> 00:06:10.920
<v Speaker 2>of time. We're now in twenty twenty four, you know,

122
00:06:11.120 --> 00:06:13.720
<v Speaker 2>saying you can't find a job in one of the

123
00:06:14.759 --> 00:06:17.240
<v Speaker 2>you know, most businesses out there are looking for applicants

124
00:06:17.240 --> 00:06:21.959
<v Speaker 2>all over the place, a little disingenuous, And really what

125
00:06:21.959 --> 00:06:27.120
<v Speaker 2>we're finding is the ARA funds, there's a niche and

126
00:06:27.160 --> 00:06:30.720
<v Speaker 2>we found this. So the Apartment Association has a outreach

127
00:06:30.800 --> 00:06:34.560
<v Speaker 2>program and donated over about two hundred thousand dollars a

128
00:06:34.680 --> 00:06:39.680
<v Speaker 2>year to local charitable interest you know, food pantries and

129
00:06:39.680 --> 00:06:43.920
<v Speaker 2>stuff like that, but they actually help cover that rent shortfall.

130
00:06:44.600 --> 00:06:48.000
<v Speaker 2>We found that people have missed rent for one of

131
00:06:48.040 --> 00:06:52.000
<v Speaker 2>three reasons. Typically it's an auto issue, they lost a job,

132
00:06:53.000 --> 00:06:55.920
<v Speaker 2>or they have a medical issue and that could be

133
00:06:55.920 --> 00:06:58.600
<v Speaker 2>a medical issue for them or their kids. One of

134
00:06:58.600 --> 00:07:01.560
<v Speaker 2>those three things. You about three to five hundred dollars,

135
00:07:02.399 --> 00:07:04.600
<v Speaker 2>somebody falls behind and that you know, the budget doesn't

136
00:07:04.639 --> 00:07:07.560
<v Speaker 2>quite match and now they're falling behind them rent. So

137
00:07:08.160 --> 00:07:10.199
<v Speaker 2>that's where the initial funds that'd come in and help.

138
00:07:10.800 --> 00:07:13.600
<v Speaker 2>And what happened was er money was an idea to

139
00:07:13.639 --> 00:07:15.879
<v Speaker 2>come in and say, let's keep doing that and do

140
00:07:15.959 --> 00:07:17.480
<v Speaker 2>it on a bigger and broader scale, kind of like

141
00:07:17.560 --> 00:07:20.199
<v Speaker 2>the federal government does, and you know, they scooped in

142
00:07:20.560 --> 00:07:24.480
<v Speaker 2>millions and billions and throw it out across the country.

143
00:07:24.680 --> 00:07:28.000
<v Speaker 2>We still help on the charitable side of that, much

144
00:07:28.079 --> 00:07:32.879
<v Speaker 2>smaller dollar amounts, but really focusing on folks who are

145
00:07:32.920 --> 00:07:35.959
<v Speaker 2>getting that. That kind of bumped in the budget because

146
00:07:36.000 --> 00:07:38.600
<v Speaker 2>let's face it, if we've got it more than half

147
00:07:38.639 --> 00:07:40.920
<v Speaker 2>the country. We can't put a thousand dollars together an emergency.

148
00:07:41.240 --> 00:07:44.000
<v Speaker 2>We're going to have people who have some sort of

149
00:07:44.439 --> 00:07:48.439
<v Speaker 2>economic hickup, you know, finances don't work for whatever reason

150
00:07:48.480 --> 00:07:50.759
<v Speaker 2>this month. And what we found is really only once

151
00:07:50.879 --> 00:07:54.040
<v Speaker 2>once a year kind of thing. Typical family has this

152
00:07:54.079 --> 00:07:57.959
<v Speaker 2>little kind of incident once a year at most, and

153
00:07:58.000 --> 00:07:59.680
<v Speaker 2>those are the people we really want to try to help.

154
00:08:00.079 --> 00:08:02.879
<v Speaker 2>That's where local funds, the local groups can help with that.

155
00:08:03.360 --> 00:08:06.639
<v Speaker 2>Ear money's pretty much gone away. And what we're finding

156
00:08:06.680 --> 00:08:09.800
<v Speaker 2>now is so like the vice presidents come out and said, hey,

157
00:08:09.879 --> 00:08:13.480
<v Speaker 2>I want rent control. We need affordable housing. People can't

158
00:08:13.480 --> 00:08:16.920
<v Speaker 2>afford that, and it's like, okay, there's there's you're conflating

159
00:08:16.920 --> 00:08:18.959
<v Speaker 2>a whole bunch of issues, especially, start throwing around the

160
00:08:19.000 --> 00:08:24.079
<v Speaker 2>word rent control as national rent control, and then, Brian,

161
00:08:24.079 --> 00:08:28.480
<v Speaker 2>you'll appreciate this. The justification to do it was to say,

162
00:08:28.680 --> 00:08:33.039
<v Speaker 2>we're gonna letit rent increases to five percent, okay, and

163
00:08:33.720 --> 00:08:36.360
<v Speaker 2>if you don't do that, we're going to take away

164
00:08:36.720 --> 00:08:39.879
<v Speaker 2>your ability to expense funds, which by the way, is

165
00:08:40.080 --> 00:08:43.440
<v Speaker 2>one hundred percent through the Tax Cut in Jobs Act

166
00:08:43.519 --> 00:08:47.120
<v Speaker 2>of twenty seventeen, which they already want to get rid of. Yeah,

167
00:08:48.399 --> 00:08:50.200
<v Speaker 2>it's one of those things you're like, wait a second,

168
00:08:50.279 --> 00:08:52.679
<v Speaker 2>you're gonna you're gonna use this as the incentive, but

169
00:08:52.799 --> 00:08:54.679
<v Speaker 2>you're already getting rid of the incentive. In fact, it's

170
00:08:54.679 --> 00:08:57.559
<v Speaker 2>only eighty percent in twenty twenty four, and it drops

171
00:08:57.559 --> 00:09:00.200
<v Speaker 2>by twenty percent every year from here on out. So

172
00:09:00.320 --> 00:09:02.840
<v Speaker 2>it's one of these disingenuous statements that's out there that

173
00:09:03.000 --> 00:09:06.320
<v Speaker 2>just conflates the issue about rent control and what can

174
00:09:06.360 --> 00:09:08.639
<v Speaker 2>be done. And you know it's pesky little thing called

175
00:09:08.639 --> 00:09:09.360
<v Speaker 2>the temp Amendment.

176
00:09:09.759 --> 00:09:11.039
<v Speaker 1>Oh yeah, there's that.

177
00:09:13.080 --> 00:09:16.120
<v Speaker 2>So you know, rent control is you know, you know

178
00:09:16.120 --> 00:09:19.320
<v Speaker 2>in Ohio that's been preempted. You cannot do rent control.

179
00:09:19.360 --> 00:09:20.759
<v Speaker 2>You can't do it at the local level. You don't

180
00:09:20.759 --> 00:09:24.120
<v Speaker 2>do at the state level. And our state has said

181
00:09:24.399 --> 00:09:26.519
<v Speaker 2>we want to invest in the community. We want the

182
00:09:26.559 --> 00:09:29.799
<v Speaker 2>municipal leaders to take the time to make sure that

183
00:09:29.840 --> 00:09:33.240
<v Speaker 2>there's supply in their community for housing. That's really where

184
00:09:33.279 --> 00:09:36.200
<v Speaker 2>you handle it, and it's not a quick fix or anything.

185
00:09:36.320 --> 00:09:37.960
<v Speaker 2>It takes a while to build houses, It takes a

186
00:09:38.000 --> 00:09:39.559
<v Speaker 2>while to go through the zone. It takes a while,

187
00:09:39.799 --> 00:09:41.720
<v Speaker 2>and the longer it takes, the more costly it is.

188
00:09:41.919 --> 00:09:44.559
<v Speaker 2>The more costly are housing it is. That's where affordability

189
00:09:44.600 --> 00:09:45.200
<v Speaker 2>really comes in.

190
00:09:45.279 --> 00:09:47.799
<v Speaker 1>Well, yeah, and California is a great example of that.

191
00:09:47.919 --> 00:09:51.399
<v Speaker 1>I mean, just to build a house, a house like affordable,

192
00:09:51.440 --> 00:09:53.799
<v Speaker 1>it's kind like a million dollars. I mean, the cost

193
00:09:53.840 --> 00:09:57.200
<v Speaker 1>of supply is more expensive, the regulatory environment is outrageous,

194
00:09:57.200 --> 00:09:58.879
<v Speaker 1>and you got all the edicts and mandates, and there's

195
00:09:58.879 --> 00:10:01.240
<v Speaker 1>the nimbi reality you face when you're trying to build

196
00:10:01.240 --> 00:10:03.200
<v Speaker 1>something because nobody wants a new house there. I mean,

197
00:10:03.200 --> 00:10:06.480
<v Speaker 1>it's just it's also an insurmountable challenge. But you know,

198
00:10:06.600 --> 00:10:08.720
<v Speaker 1>the reality is right now, I guess there is an

199
00:10:08.720 --> 00:10:11.200
<v Speaker 1>insufficient supply of well, I don't even know what quote

200
00:10:11.279 --> 00:10:14.360
<v Speaker 1>unquote affordable is. Is there actually a definition for that?

201
00:10:14.440 --> 00:10:17.759
<v Speaker 1>Because I can't afford a house in San Francisco. There

202
00:10:17.840 --> 00:10:21.440
<v Speaker 1>isn't an affordable house anywhere for me. But here there

203
00:10:21.559 --> 00:10:24.000
<v Speaker 1>is what I would perceive to be, under my budget circumstances,

204
00:10:24.000 --> 00:10:27.240
<v Speaker 1>affordable housing. But that's that the words they throw around,

205
00:10:27.279 --> 00:10:31.679
<v Speaker 1>it's so loosey goosey. It's like, you know, what is

206
00:10:32.679 --> 00:10:34.720
<v Speaker 1>a rich person? How do you define that? I mean,

207
00:10:34.759 --> 00:10:36.720
<v Speaker 1>it just depends on where you live, doesn't.

208
00:10:36.480 --> 00:10:40.559
<v Speaker 2>It a lot of it? Does you know? Midwest we

209
00:10:40.600 --> 00:10:43.919
<v Speaker 2>still have some of the most affordable housing across the country.

210
00:10:44.000 --> 00:10:48.360
<v Speaker 2>Certain by affordable in that terms we're really talking about

211
00:10:48.399 --> 00:10:50.679
<v Speaker 2>it is obtainable. Can you actually obtained Can you work

212
00:10:51.080 --> 00:10:54.480
<v Speaker 2>a basic forty hour week job? And the reality is

213
00:10:54.840 --> 00:10:58.120
<v Speaker 2>in this area, if you've got two people who work

214
00:10:58.159 --> 00:11:00.639
<v Speaker 2>forty hours a week at a basic ten twell fifteen

215
00:11:00.679 --> 00:11:03.200
<v Speaker 2>dollars an hour job, they can get a one better apartment.

216
00:11:04.279 --> 00:11:07.399
<v Speaker 2>In some places they're getting two better apartments. You know.

217
00:11:07.480 --> 00:11:09.960
<v Speaker 2>So you know, I had a roomates when I came

218
00:11:10.000 --> 00:11:12.000
<v Speaker 2>out of college because you know, I can't afford me

219
00:11:12.080 --> 00:11:14.240
<v Speaker 2>own place, and part it was I wasn't sure I

220
00:11:14.320 --> 00:11:17.440
<v Speaker 2>wanted to because riskiness of job and all that. As

221
00:11:17.480 --> 00:11:20.159
<v Speaker 2>you get developed and you put your roots down and

222
00:11:20.360 --> 00:11:24.279
<v Speaker 2>develop your value, you know, in the marketplace, you make

223
00:11:24.320 --> 00:11:27.279
<v Speaker 2>more money and guess what, you can buy a bigger place.

224
00:11:27.799 --> 00:11:30.720
<v Speaker 2>But to say that, you know, there's this false notion

225
00:11:30.799 --> 00:11:35.799
<v Speaker 2>out there that we take the minimum wage, and the

226
00:11:35.840 --> 00:11:37.600
<v Speaker 2>report that just came out for Ohio said take the

227
00:11:37.600 --> 00:11:40.639
<v Speaker 2>minimum wage forty hours a week, Well, you can't afford

228
00:11:40.639 --> 00:11:43.720
<v Speaker 2>a two bedroom house. It was like, of course, not

229
00:11:43.799 --> 00:11:46.639
<v Speaker 2>you can't afford two bedrooms, but you could afford one

230
00:11:47.879 --> 00:11:50.360
<v Speaker 2>in fact, if you worked a little extra, you could

231
00:11:50.440 --> 00:11:53.919
<v Speaker 2>actually afford one in most places around Cincinnati, around the Midwest.

232
00:11:54.960 --> 00:11:56.759
<v Speaker 2>That's part of the problem is we've got these people

233
00:11:56.799 --> 00:12:00.039
<v Speaker 2>who are willingly complating things rather than actually trying to

234
00:12:00.120 --> 00:12:04.440
<v Speaker 2>deal with the issue. So good.

235
00:12:04.480 --> 00:12:06.399
<v Speaker 1>I was curious to know if they what you said,

236
00:12:06.720 --> 00:12:08.759
<v Speaker 1>the funds are almost tapped out now, but the forty

237
00:12:08.799 --> 00:12:12.759
<v Speaker 1>six billion in this emergency rental assistance, if are they

238
00:12:12.840 --> 00:12:16.000
<v Speaker 1>arguing that we need to continue that program or those programs?

239
00:12:17.240 --> 00:12:20.159
<v Speaker 1>I mean, every government program that's ever existed has never

240
00:12:20.200 --> 00:12:22.360
<v Speaker 1>really ended. People get used to the infusion of money

241
00:12:22.440 --> 00:12:25.360
<v Speaker 1>or the free stuff and things, and then they say, well,

242
00:12:25.399 --> 00:12:28.159
<v Speaker 1>it's a it's a right basically.

243
00:12:29.879 --> 00:12:32.960
<v Speaker 2>Well, Reagan had some great comments about that and about

244
00:12:33.000 --> 00:12:37.279
<v Speaker 2>the inevitability of a never ending program by looking at

245
00:12:37.320 --> 00:12:40.879
<v Speaker 2>the federal government. So yes, there's there's requests for that,

246
00:12:41.480 --> 00:12:45.279
<v Speaker 2>and again there's a whole package of things. You can

247
00:12:45.320 --> 00:12:48.279
<v Speaker 2>go back to. January of twenty three, the White House

248
00:12:48.279 --> 00:12:51.720
<v Speaker 2>put out a Renter's Bill of Rights, which started laying

249
00:12:51.720 --> 00:12:54.840
<v Speaker 2>out these kind of principles and they you know, they

250
00:12:54.960 --> 00:12:59.399
<v Speaker 2>sound really innocuous until you try to implement them and say, oh,

251
00:12:59.440 --> 00:13:01.840
<v Speaker 2>we're going to do leases well, they want to do

252
00:13:01.960 --> 00:13:04.000
<v Speaker 2>leases at the national level, which means you take the

253
00:13:04.000 --> 00:13:07.159
<v Speaker 2>most liberal version, so you take a California or Massachusetts

254
00:13:07.240 --> 00:13:11.559
<v Speaker 2>or Maryland version and try to implement it. And by

255
00:13:11.559 --> 00:13:13.440
<v Speaker 2>the way, you're doing it at the federal level, not

256
00:13:13.559 --> 00:13:17.200
<v Speaker 2>the state level, where all all real estate and all

257
00:13:17.759 --> 00:13:21.519
<v Speaker 2>landlord housing transactions are taken care of. And I really

258
00:13:21.559 --> 00:13:26.120
<v Speaker 2>prefer to call them housing through housing providers, because I'm

259
00:13:26.159 --> 00:13:28.799
<v Speaker 2>not the lord of any land. I would like to

260
00:13:28.799 --> 00:13:30.879
<v Speaker 2>be the lord of my castle. You know, I don't

261
00:13:30.879 --> 00:13:35.320
<v Speaker 2>have a castole either, And so we and there's actually

262
00:13:37.120 --> 00:13:40.679
<v Speaker 2>a real fight to take away that word because they

263
00:13:40.679 --> 00:13:43.360
<v Speaker 2>don't want to get rid of the word landlord because oh,

264
00:13:43.440 --> 00:13:45.200
<v Speaker 2>you say landlord, we always think of, you know, mister

265
00:13:45.279 --> 00:13:48.000
<v Speaker 2>Roper back from Three's Company kind of thing, yeah, you know,

266
00:13:48.720 --> 00:13:53.240
<v Speaker 2>or something worse. And part of what Kamala Harris has

267
00:13:53.279 --> 00:13:56.039
<v Speaker 2>come out with is she wants to go after what

268
00:13:56.120 --> 00:13:59.720
<v Speaker 2>she calls quote unquote big housing. Her definition of big

269
00:13:59.720 --> 00:14:01.960
<v Speaker 2>houses is if you own or invest in more than

270
00:14:02.000 --> 00:14:06.080
<v Speaker 2>fifty units. So if you are part of a you know,

271
00:14:06.639 --> 00:14:08.879
<v Speaker 2>doctors or engineers, and you're part of a sixty unit

272
00:14:08.919 --> 00:14:12.200
<v Speaker 2>apartment building, you're part of your big housing gotcha, and

273
00:14:12.240 --> 00:14:14.320
<v Speaker 2>you're part of the problem in this country. And that's like,

274
00:14:14.919 --> 00:14:16.919
<v Speaker 2>it's just the farthest thing from the truth.

275
00:14:17.039 --> 00:14:19.480
<v Speaker 1>Right, is it? That whole idea of going up to

276
00:14:19.480 --> 00:14:21.240
<v Speaker 1>big housing that's built on the notion that there are

277
00:14:21.240 --> 00:14:23.840
<v Speaker 1>big corporations out there that're going around buying up single

278
00:14:23.840 --> 00:14:26.799
<v Speaker 1>family houses and then turning them into rental properties.

279
00:14:28.159 --> 00:14:32.519
<v Speaker 2>You know, and there are some equity funds that out

280
00:14:32.559 --> 00:14:35.000
<v Speaker 2>there doing it. Yeah, And they really got their taste

281
00:14:35.000 --> 00:14:38.519
<v Speaker 2>of it in kind of eleven, twelve, thirteen, back when

282
00:14:38.919 --> 00:14:41.720
<v Speaker 2>you know, there was foreclosures and there were long what

283
00:14:41.759 --> 00:14:44.639
<v Speaker 2>they called tapes coming out of banks, a foreclosure list,

284
00:14:44.720 --> 00:14:46.600
<v Speaker 2>and the bank said, I have to get rid of

285
00:14:46.600 --> 00:14:50.120
<v Speaker 2>this because the fat is telling me to So will

286
00:14:50.120 --> 00:14:52.879
<v Speaker 2>somebody buy this? And they were such large groups it

287
00:14:52.919 --> 00:14:55.639
<v Speaker 2>was only equity groups that could afford it. Yeah, some

288
00:14:55.679 --> 00:14:57.399
<v Speaker 2>of them have started to spin them off, some of

289
00:14:57.440 --> 00:15:00.360
<v Speaker 2>them have maintained them and continued to grow since that.

290
00:15:00.399 --> 00:15:04.279
<v Speaker 2>He's had issues with some as well, and part of

291
00:15:04.279 --> 00:15:06.720
<v Speaker 2>the problem with that, and I'm happy to unpack that,

292
00:15:06.759 --> 00:15:07.720
<v Speaker 2>but it's a little longer coming.

293
00:15:07.879 --> 00:15:09.320
<v Speaker 1>Yeah, We're going to have to save that one for

294
00:15:09.320 --> 00:15:11.360
<v Speaker 1>another day, Charles, since we are out of time. But

295
00:15:11.679 --> 00:15:13.440
<v Speaker 1>I sure appreciate your willingness to come on the program

296
00:15:13.440 --> 00:15:15.799
<v Speaker 1>to talk about this rather complex issue. Charles, and I

297
00:15:15.840 --> 00:15:18.360
<v Speaker 1>know you know it is COO and National real Estate

298
00:15:18.399 --> 00:15:21.519
<v Speaker 1>Investors Association. We will have Charles back on the program

299
00:15:22.039 --> 00:15:24.720
<v Speaker 1>again to further dive into this issue. Charles, thanks again

300
00:15:24.759 --> 00:15:27.799
<v Speaker 1>for your time. Have a wonderful, wonderful week. Stick around

301
00:15:27.840 --> 00:15:29.559
<v Speaker 1>Jim Neill's coming up in the next segment bottom of

302
00:15:29.600 --> 00:15:31.360
<v Speaker 1>the hour. First though, I gave a quick word for

303
00:15:31.440 --> 00:15:34.600
<v Speaker 1>my friend speaking of real estate, Peter Swia Kellowiams seven Hills,

304
00:15:34.879 --> 00:15:36.559
<v Speaker 1>best real estate team you're ever going to work with

305
00:15:36.639 --> 00:15:40.000
<v Speaker 1>buyer's agent sellers agents. He unpacked the whole change in

306
00:15:40.080 --> 00:15:42.879
<v Speaker 1>the landscape about commissions when he was on the program

307
00:15:43.000 --> 00:15:45.039
<v Speaker 1>last week, and it's going to win year to your benefit.

308
00:15:45.080 --> 00:15:46.559
<v Speaker 1>You got to think of the idea of the real

309
00:15:46.639 --> 00:15:50.320
<v Speaker 1>estate agent providing you with value. Great real estate agents

310
00:15:50.320 --> 00:15:52.799
<v Speaker 1>like the team of Peter Schbia Kellorwilliams seven Hills certainly

311
00:15:53.000 --> 00:15:56.360
<v Speaker 1>do that. They can guide you, provide valuable information on

312
00:15:56.399 --> 00:15:58.799
<v Speaker 1>how you to maximize the sale price of your home

313
00:15:59.159 --> 00:16:01.399
<v Speaker 1>or as a a iyer's agent, help you find the

314
00:16:01.519 --> 00:16:03.559
<v Speaker 1>right place, what to look for, what not to look

315
00:16:03.600 --> 00:16:06.440
<v Speaker 1>for now all the important things that years and years

316
00:16:06.480 --> 00:16:10.039
<v Speaker 1>of experience in the real estate business brings to the table.

317
00:16:10.039 --> 00:16:11.960
<v Speaker 1>That's why you need a great team, and that is

318
00:16:12.000 --> 00:16:14.559
<v Speaker 1>the Shabri Group of Keller Williams seven Hills. Check out

319
00:16:14.600 --> 00:16:16.799
<v Speaker 1>the programs they offer and nobody else is offering instant

320
00:16:16.840 --> 00:16:18.960
<v Speaker 1>Offer program to Love It or leaved program and the

321
00:16:19.039 --> 00:16:22.559
<v Speaker 1>cash the Keys program really cool in there cash offer

322
00:16:22.639 --> 00:16:25.759
<v Speaker 1>time and that really helps you gain a significant advantage

323
00:16:26.000 --> 00:16:29.600
<v Speaker 1>over other bidders in a buying bidder war situation. To

324
00:16:29.720 --> 00:16:32.399
<v Speaker 1>learn more about the team and the programs, seven zero

325
00:16:32.480 --> 00:16:35.360
<v Speaker 1>eight three thousand dot com seven zero eight three thousand

326
00:16:35.440 --> 00:16:37.399
<v Speaker 1>dot com, give them a call today at five one

327
00:16:37.440 --> 00:16:40.519
<v Speaker 1>three seven zero eight three thousand, fifty five KRC