Real Trouble for Real Estate
Summary
➡ This text discusses various topics including the benefits of using a VPN for online privacy, class action lawsuits against Johnson & Johnson, the potential dangers of a fully digital currency, the shift back to office work from remote work, financial struggles of athletes, layoffs at Bob’s Furniture, and concerns about inflation from Blackrock’s CEO. It encourages readers to share their experiences and opinions on these matters.
➡ Steve Ballmer, a former Microsoft executive, has built the most expensive basketball arena costing $2 billion. The arena, which will primarily host basketball games and possibly concerts, has signed a 25-year naming rights deal with Intuit for $500 million.
Transcript
Now here’s the facts. 74 million people, about 25% of the country, live in an area that’s governed by a homeowners association, an HOA. These HOAs have tremendous power. Now think about this. There’s only one state right now that has regulations on fees and on limiting what they can do. So they can impose anything they want on people. Anything. And I’ve told this story before. I was the president of my HOA at one point 30 years ago. And it was an awful experience from 35 years ago now that I think about it.
But anyways, it was an awful experience just because of the headiness. Because people would use the HOA to find people and do different things. And Trisha Quigley is a woman that lives in Cherokee County in Georgia. And she found out the hard way that her HOA was completely out of control. Out of control. Now what does that mean? They would be able to impose fines and send her bills and send her letters. The only thing about this is that every letter that they would send her, they would bill her for this. Hey, we wrote you a letter.
It’s $35. You need to pay this. I don’t want to pay for correspondence that you’re warning me about something. It was insane. You understand? It was that type of stuff that people did that would give the HOA a bad name. But eventually, these people find her, sent her a fine for all these bills. And then she couldn’t pay it. She lived there 18 years. She ended up having to hire a lawyer. And the lawyer cost her $30,000 that she couldn’t afford. So $30,000 later, they end up foreclosing on her house for the HOA.
Okay, Dan, that seems crazy. Guess what the foreclosure amount was for? And there’s an article below. $3.85. She lost her home over that. Well, just pay it. Nope. Can’t too late. Gotta deal with the fines and deal with our administrative costs right now. Now, this is insane. And this is absolutely nuts. There was another woman who had an Denver, which Denver’s a real problem, where the woman had her HOA was sending her letters and sent her bills. And then she had worked up $38,000 in fees. She’d found bankruptcy. Because of these fees now, not all associations are bad, guys.
Some are very good. Some have retired, you know, contractors, retired building inspectors, engineers. I mean, the one that I was involved in had a lot of, you know, accountants and things like that. There was, I think there was six people on the board when it was up there. And I was the youngest, to say the least, they thought that was cute. But the point was, was that you had a lot of good people in there. Then you got some bad apples in there that just would go through and they would be the rules committee that would, you know, would walk through the complex and write people up.
I’ve told this story before, but my girlfriend cut her finger in the kitchen, her hand, you know, while cooking. And, wow, I think I need stitches. I’m gonna go to the urgent care. So I was washing the car at the time. I throw down the hose and drive her to the urgent care. And she needed like six stitches, you know, and we come back and there’s a notice on the door that if my hose is not rolled up, they’re going to find me $15 a day. And I’m like, are you kidding? Are you for real? And I called the woman and I said, uh, do you guys really do this, Joan? Oh, Dan, that’s your house.
Just forget about it. And no, no, no, no, no. This is why they hate us. Are you joking? She didn’t get it. Okay. So the problem with these unregulated areas of the government, basically, is they’re trying to act like they’re a governmental agency, which they’re not. They have no authority, but then they do because they can do things like foreclosure. The fastest area of foreclosure right now are homeowners associations. My friend Doug, he is telling me that Dan, next to people that get reverse mortgages and don’t have their heirs understanding how they have to pay the house off in a set period of time and refinance the house, they lose the house to foreclosure over and over again.
That’s that’s the most popular foreclosure that he does outside of somebody not paying their bills. Now, North Carolina finally passed legislation that they can’t charge people these administrative fees and cannot foreclose on people for things like this. So thank God for that because it’s getting out of control with this Tricia Quigley loses her house and it’s nuts. The next one is real estate investment trust. You guys have heard about this. Starwood is one of the biggest ones where they have over they have over ten billion dollars in assets that they manage right now and they are limiting withdrawals right now for their investment trust.
Well, why? Everything’s so good. No, no. We’ve had you know three point eight billion dollars withdrawn requested to be withdrawn and we’re only gonna allow one point eight billion dollars to be withdrawn and now we’re gonna limit it to one percent of the entire fund. So that’s it. So these investments you’ve seen hey get into this get into that on late night TV and stuff and you know they’re just gonna lock your money up and as the real estate market goes down which it is going down there are problems all over the real estate market as it goes down you’re going to see more and more of this right now.
Now, Starwood says listen we’re at the bottom of the real estate market. It’s only gonna go up from here. Read the article below because they believe that this is something that is not a problem and it’s going to only get better. Okay? Do you believe that? I clearly don’t. Okay? I’m not in that camp. As people get more desperate they do more things to charge people different you know ways of creating money with when it comes to cities like Orange California that is upside down financially. Well, let’s just raise taxes.
These associations are doing the same thing. You have spiteful people and people that should never have been on the board of these associations ever that are on the rules committee and and want to make sure that you know they know who’s in the neighborhood and things like that and we’ll find people for things as simple as parking. My late girlfriend had stage four cancer for a while and got a handicap card and she could park in different places. I lived in an association where this fat cow, I think that’s what her first name and last name was, she said we don’t have handicap parking here.
We don’t allow it. Okay? So you could park anywhere without a permit. You know you can pull up to a parking meter and put your handicap card up and park there without paying for the meter. No, no, no. If we see her do this again we’re gonna tow her car. So they towed her car and fat cow ended up having to pay for that. It was great. It was great. Okay? Plus my late girlfriend was a lawyer and it kind of helped with what she was gonna do legalese for you know all that stuff.
But know your rights. Okay? And don’t tolerate stuff like that. So my friend Doug, speaking of real estate, speaking of problems with real estate in general, Dan, he was giddy when I talked to him yesterday. Why are you so happy, Doug? Because it’s finally happening, Dan. We’re getting all these contracts for commercial foreclosures. And that’s great news, Doug. It’s so much easier, Dan. We don’t have the threats. We don’t have the risks. All we got to do is post the building and do all the paperwork. And again, it’s a legalese process, but what he’s seeing is smaller buildings.
Okay? This is what they wanted. Now you’ve heard about the hundred million dollar building that sells for 20 million. What about the four million dollar building? Eight million dollar building. Five million dollar building. This guy is like a kid in a candy store because so many people are paying rent to their landlord for even things like the nail salon and the sandwich shop thinking that everything is good and it’s not. Okay? So these foreclosures are on the rise. And you’re gonna tell me that this isn’t gonna affect commercial real estate.
You guys are kidding yourselves. Everything is off right now. Let me know what you think about this so far, but if you had a problem with your association, share it with us. Everybody loves these comments. Everybody loves the emails that you send in. Hello at iallegedly.com. Let me know if you’ve had grief like this because it’s terrible that people have to deal with stuff like this. Let’s talk about our sponsor, Private Internet Access, VPN. Let’s face it, when we go online, we run the risk of the bad guys getting access to our personal data and there’s something you can do that’s very easy to protect yourself.
It’s very inexpensive. It only costs pennies a day and that is get yourself a VPN. The best one? Private Internet Access. Number one rated. All the IT professionals, so many of them use it. My IT professional use it. As I was traveling, I have had multiple people come up to me and say that they use it all the time. But what it does is it makes it so that from your device to any device you go to, you are completely protected. No one can see your keystrokes. No one can see websites you go to.
This includes the government cannot see what you’re doing. All you have to do, it’s no hardware to install, is you just press one button and the device is automatically protected. See when it goes green? I’m totally protected. It’s absolutely easy. There’s no hardware, plus with Private Internet Access, it covers every device in your home from your laptop, your home computer, your tablets, your iPad, your cell phones, everything. 83% off right now. Use the link below. Check it out today. Private Internet Access. Again, the simplest thing to use, but it will give you a lifetime of protection.
But let me ask you this also. Would you want somebody to know what your search history is? Why don’t you just share it with all of us? Imagine that’s completely eliminated and blocked using Private Internet Access. Plus, if you like sports, so many people have bought this just to change locations. You can change country codes, you can change with the click of one button, you can change the VPN location from different states. So if you’re blacked out of a sporting event, not anymore. Check it out today. Save 83%. Private Internet Access.
Use the link below. Have you guys seen those commercials for, you know, different lawyers that say, hey, let’s file a lawsuit for Mesothelioma? Did you go to Camp Lejeune in that, you know, the 50s through the 80s and you were sick? You got money coming. We’ve all seen those things. How about Johnson & Johnson, you know, with their talcum powder and all the lawsuits with this. Now, there’s a reverse to this because there’s a group of class action lawsuits right now that are fighting this, saying that these lawsuits that as far as the bankruptcies that Johnson & Johnson is filing is completely bogus.
They’re setting up fake companies and having these bankruptcies so that they don’t have to deal with the litigation. And now there’s a class action lawsuit to fight the litigation, which is crazy. So if you were a family member, know this, read the article below because it’s kind of fascinating about that. You’re starting to see, you know, people fight it against the central bank digital currency, what they want to call Biden bucks. Biden bucks. Central bank digital currency, guys, is a very bad thing. It’s not going to be the freedom-loving thing that you think.
And I have people, every time I talk about this, they write me and say, everything is digital right now. You don’t want it to go 100% digital right now because they will shut off your car just like shutting off your electric vehicle if they don’t want you to travel in a certain area. Okay? But there was something passed in the House of Representatives talking about how they want to limit this right now and make it so that we don’t have a central bank digital currency and that we have fiat money, whether you like fiat money or not, and it’s worthless, it’s not backed by anything.
We understand all that. But the idea with all of this is it would make it so that you would be able to have freedom. And we’ll see. We’ll see if it makes it through the Senate. Made it through the House. Read the article below. We’ll see if it goes through the Senate. Remember Robin Hood? We learned a lot about them during the health crisis where these guys would go out and they had all the stock trading and all the different ape stocks and meme stocks and all that stuff that we learned about.
But Robin Hood let everybody work remotely and now the CEO is saying, no, no, everybody needs to come back and work inside the office. We need to have continuity. We need to have everybody work inside. And again, I’m telling you guys, you’re gonna see a shakedown with this because everything points to, you want to work remotely, you’re gonna have all these guidelines you’re gonna have to do. You’re gonna have to leave a digital footprint in such a way that you’re gonna have to make sure you’re going to, you know, be checking in at certain times.
You’re gonna have keystroke, you know, coverage on your computer. You’re gonna have to log in and make sure that people know when you’re working, when you’re not working and you’re gonna make 20% less if you take this job than you would if you came to the office. You’re gonna see things like that in the coming months and for some people it’ll be like, yeah, I don’t have to be around all those people. Sure, I’ll do that. What do you guys think about this? You think that that’s the future, that’s the way it’s gonna go? Antonio Brown, remember that guy? He was an NFL player from the National Spelling League that actually won a Super Bowl and this guy is typical thing with football players.
Bankrupt. Filing bankruptcy right now because he couldn’t manage his money, lots of lawsuits, litigation, but this is what you’re seeing over and over and over again, guys, is you’re seeing more and more people that are having trouble, these athletes. I’m telling you, you’re gonna see this with these young kids. There is a thing called name and likeness, which I’m very familiar with. I have name and likeness deals that if they use Dan’s name or Dan’s image, you have to pay Dan, okay? Well, now they’re gonna do that with college athletes and you’re gonna see these college athletes who never made money before make millions of dollars and you’re going to see a lot of these kids that will never make it to the NFL or the NBA or anything else like that or even, you know, Major League Baseball for that matter, but they’re going to be upside down financially.
So just a real short video today and a few other things. You’re starting to see more layoffs than ever. Bob’s Furniture in Meridian, Connecticut. 154 people done by losing their jobs. And again, guys, this is out there warehouse. I had a horrible experience at Bob’s Furniture and the one thing was they advertised as a discount furniture across the country, expanded to California. You know, they did a brilliant advertising campaign. Hey, we’re going to open in 12 days, 11 days, 10 days, all these TV ads. I went in there and was picking out furniture and they said, okay, based on your purchase amount is what it’s going to cost to have the delivery made to your home.
You can come pick it up anytime you want. Just grab it from the warehouse. Wait a second. So if I spend $1,500, it’s going to cost me more than if I spend $400 even regardless of the size. Yes. So if I buy a $1,500 lamp, that’s more expensive than getting a $300 bed from you. Yes. Okay. It’s insane. And I was furious with that. And I said goodbye. So there’s that. You’re starting to see more of these layoffs happen around the country. And it’s just a matter of time, guys. Remember, the economy is so good.
People cannot afford to eat out. People cannot afford furniture. Buy used furniture, guys. That is the greatest deal in the world. I had a, one of my daughter’s childhood friends made, dad made a fortune selling used office furniture because of all the shutdowns. When the lenders went out of business for 2008, this guy made a ton of money selling desks. And I’m telling you, I would go buy chairs from this guy, $30 that were $800 chairs. Look at this. This thing’s great. Okay. Some, you know, lender had it and now it was in Dan’s house.
I still got a couple of those things are nice. Blackrock’s CEO and their chief financial advisor says that inflation’s out of control. Now, Blackrock is, you know, nobody’s friend, but these guys are sitting there saying, wait a second, this is not good. We have not, and we’re never going to get towards 2% or never going to get towards cutting interest rates anytime soon. Okay. These are the guys that are inside. These are the guys that know. For those of you that write me and tell me this, read this guy’s article because the inflation indicator is flashing red.
The thing about interest rates getting cut he’s saying no way. Steve Ballmer bought the Clippers. He was the guy, one of the people that ran Microsoft with Bill Gates at one point. This guy just completed the most expensive arena ever, $2 billion for basketball only. They’re only going to play basketball there. They may have concerts and things like that, but they just spent $2 billion and then signed a 25 year deal with Intuit. So Intuit’s going to have their name on the arena for $500 million, $500 million they paid for that.
Again, guys, I don’t, I mean, would that make you go to a Clippers game? Won’t make me go to a Clippers game anytime soon. So just a quick video this morning. I don’t get covered at all. Okay. Okay. Danny gets a B today. Yeah. You know what I mean? Anyways, please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. And once again, guys, you want to get ahold of me? Hello at Iallegedly.com. Let us know your Homer Association horror stories and good and bad. Now, again, for those of you that are on these boards, they serve a purpose because you don’t want your neighbor painting his house purple.
I understand all that stuff, but you know, let us know. Okay. Onward and upward, guys. I’ll see you very soon. [tr:trw].
See more of I Allegedly on their Public Channel and the MPN I Allegedly channel.
Author
