stimulus bill passed | The Kwak Brothers

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Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

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BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

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February 9, 2021

Housing Market… being destroyed by the Stimulus?

Housing Market… With the second stimulus bill moving quickly through the government and it looks like everyone will be getting, at least, $600 check from the stimulus package. But what does the stimulus package mean outside of free money? What does this mean for our economy? And most importantly, how will it affect the housing market? In this video, I will be giving you my take on the whole ordeal and what the future will be looking like for generations to come. Email Us: [email protected] Article: Evictions loom for as many as 20 million Americans who are behind on rent. That’s about the population of Florida. http://businessinsider.com/millions-of-americans-are-behind-on-rent-risk-of-eviction-2020-12#:~:text=Up%20to%2020%20million%20Americans,rent%2C%20risk%20eviction%20-%20Business%20Insider&text=The%20word%20%22Insider%22.&text=A%20leading-edge%20research%20firm%20focused%20on%20digital%20transformation 0:00 Intro 1:05 The cost of the stimulus 3:00 Where does stimulus money come from? 4:10 How does this affect the housing market? 6:43 My initial thoughts on the stimulus 9:33 Data points to my argument 11:32 The Kwak Brothers giveaway With the stimulus looking like it will be signed into law here in the next few days, pending Senate approval, many ask the question, “who’s paying for this?”. Obviously, it’s not President Trump himself, but The Federal Reserve has a lot to do with it, but have you thought about, ourselves? YES! But not you and I, more like, our grandchildren. And the effect of the massive government spending in 2020, will be seen in the Social Security Fund. Many times when the government borrows money for social programs, it literally is being borrowed from the taxpayers without consent. And with the Fed’s balance sheet getting bigger by the month, it’s sitting at almost $7 Trillion dollars, and if this stimulus passes, it’ll add even more! So how is this connected to the real estate market? Well, it takes people to buy homes in the real estate market. Meet Kevin’s Most Recent Stimulus Update https://www.youtube.com/watch?v=qsXRnZuMdz4 Clear Value Tax’s Recent Stimulus Update https://www.youtube.com/watch?v=7HAJXGwLHsI Stephan Gardner Stimulus Check & Stimulus Package Update | $2000 increase pass in the House of Representatives https://www.youtube.com/watch?v=6ZFas9mDJuM
February 9, 2021

PPP Loan: BIG changes with the Loan Forgiveness

With the passing of the New COVID and Stimulus Package, the PPP underwent some major changes to the forgiveness rules, qualified expenses, and other qualification rules when applying! If you own a business with or without employees, the PPP (Paycheck Protection Program) can be a great lifeline to keep your struggling business open! **Disclaimer** I am not a representative or an employee of the Small Business Administration (SBA) or a lending institution. This video is only my opinion and interpretation of the recent updates made to the Paycheck Protection Program. EIDL Grant: Will We See The Return of FREE $10,00 Grant? https://www.youtube.com/watch?v=2qdtqjysmuw&feature=youtu.be Now right away, the package says that the SBA has 10 days to start making these changes and implementing them for any new PPP loan applicants or second-time draws. First, which business qualifies for the PPP loan. Now, if you applied for the PPP in the past, can you apply for it again? The answer is YES! PPP Loan recipients must show that they lost 30% of gross revenue during the same quarter in 2019. The borrower must not have more than 300 employees $2 million dollars is the cap. Now in regards to the term of the PPP loan, – According to the SBA, the PPP loans have an interest rate of 1%, a maturity term of 5 years, no collateral or personal guarantees are required, and no fees to apply. The second thing I want to hit is that the PPP now includes Additional Expenses that are qualified for the rule of forgiveness (SEC. 304. ADDITIONAL ELIGIBLE EXPENSES.) covered operations expenditures Covered property damage costs, covered supplier costs, and covered worker protection expenditures, Second, Covered Property Damage costs… This is any cost related to property damage, looting, vandalism due to civil unrest during 2020 that were not covered by insurance or other compensation., Third, covered supplier costs… This is any expenses related to a supplier of goods. This can be perishable goods (like food), any contracts made before the pandemic, and any supplies essential to the operation of the business. This could also mean raw materials if you create any physical goods. Fourth, the covered worker protection expenditure means any new equipment or repairs to drive through window facility, air ventilation system, physical barriers, masks, on-site health screening, expansion of indoor, outdoor, or combined space, and even air filter systems. All of these are basically protection for the virus and keeping workers safe. Now, that leads to another concern that was brought up many months ago and that has to do with the tax deduction question on these expenses. A few months ago, the IRS released a memo saying that any expenses used for loan forgiveness could not be used for a tax deduction… That meant that the business owners could receive loan forgiveness but may need to pay more taxes. Clearly, this was concerning. So bottom line, to receive the forgiveness, you’ll need to contact your PPP lender for the forgiveness application process. In respect to how much of the expenses can be used for the forgiveness of the loan, The covered Period for forgiveness on expenses is beginning on the 8th week after origination and ending on the 24th week after the origination.