Investing General Discussion

Khane

Khane

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Sanrith Descartes said:
Different states handle this differently. Good luck evicting/foreclosing on someone in NY.
Click to expand...

He's not talking about an eviction. He's talking about simply not renewing a lease, which should be perfectly legal in all 50 states. Whether or not you can actually get legal assistance to forcibly remove someone if they decide to squat even if you don't renew is another story.
 
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Sanrith Descartes

Sanrith Descartes

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Khane said:
He's not talking about an eviction. He's talking about simply not renewing a lease, which should be perfectly legal in all 50 states. Whether or not you can actually get legal assistance to forcibly remove someone if they decide to squat even if you don't renew is another story.
Click to expand...
Fair enough. Most property owners cant afford to wait out non-payers for a few years on the lease though.
 
Fogel

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Well I think the point was, rentals were already on shaky ground, anyone looking at rentals now see the possibility for the government to come in with these EO's and it adds a new risk to evaluate
 
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Sanrith Descartes

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Triterras Fintech (SPAC NFIN) reported financials for the 1st half (ending Aug 31). Averaging over 1 billion in total transactions a month (5 billion total on their Kratos commodities platform). While they aren't doing a huge amount of revenue, their profit margin is incredible. EBITDA was 73% of revenue. Net profit was 60% of revenue. They are making 60 cents profit on every dollar of revenue. At this point they just need to keep growing. Merger is scheduled to close in Q4.


Financial Highlights for the First Six Months of Fiscal 2020

  • Revenue was $23.7 million
  • Net income was $14.2 million
  • EBITDA was $17.3 million
www.marketscreener.com

Triterras Fintech Reports Financial Results for the First Six Months of its Fiscal Year 2020

SINGAPORE, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Triterras Fintech, a leading fintech company for commodity trading and trade finance, today announced financial results for the six months ended August 31, 2020. Financial Highlights for the First Six Mont...
www.marketscreener.com
 
Sanrith Descartes

Sanrith Descartes

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With all the talk about PLTR, no one has mentioned ASAN (Asana) also going public today and also doing a direct IPO listing. Its a software company founded by FB co-founder Moskovitz. My big problem with the company is that it loses a TON of money. it lost 118 million on revenue of 142 million. Revenue growth is solid at 86% but that loss is staggering. Also I havent seen anything really proprietary about the software. its a collaboration suite as I under stand it.

www.cnbc.com

Asana, business software company led by Facebook co-founder, files for direct listing

Asana will resemble Facebook in operating with a two-class structure, with one being much more powerful than the other. Asana's CEO is Facebook co-founder Dustin Moskovitz.
www.cnbc.com www.cnbc.com
 
Sanrith Descartes

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PLTR private trade pricing over the years...

1601471366873.png
 
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OU Ariakas

OU Ariakas

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Sanrith Descartes said:
Different states handle this differently. Good luck evicting/foreclosing on someone in NY.
Click to expand...

Initially I agreed that it would be hard for someone to evict in NY, but I just looked at the laws and they don't really look that different from other states. They have a 14 day notice to pay eviction and a 30 day fix/cure notice eviction. You can evict anyone at the end of their fixed lease or if they are at the end of a month to month if you give proper notice (with a maximum notice of 90 days if they have been there for 2+ years). A Sheriff must do the physical eviction.

The eviction moratorium does complicate things, but in May it was scaled back to those that could prove that they were on unemployment or couldn't pay due to COVID (i.e. - prove reduced hours at work or that you lost your job due to COVID and weren't on unemployment).

Without the moratorium, though, I would not consider NY a particularly bad state for landlords based on those eviction rules.
 
Fogel

Fogel

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OU Ariakas said:
Initially I agreed that it would be hard for someone to evict in NY, but I just looked at the laws and they don't really look that different from other states. They have a 14 day notice to pay eviction and a 30 day fix/cure notice eviction. You can evict anyone at the end of their fixed lease or if they are at the end of a month to month if you give proper notice (with a maximum notice of 90 days if they have been there for 2+ years). A Sheriff must do the physical eviction.

The eviction moratorium does complicate things, but in May it was scaled back to those that could prove that they were on unemployment or couldn't pay due to COVID (i.e. - prove reduced hours at work or that you lost your job due to COVID and weren't on unemployment).

Without the moratorium, though, I would not consider NY a particularly bad state for landlords based on those eviction rules.
Click to expand...

The laws are one thing, it's like with the riots, what good are the laws if the local/state DA's and judges aren't enforcing them. I would look to see if there was a way to see how law enforcement and judges were actually enforcing (or not enforcing) the existing eviction laws
 
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OU Ariakas

OU Ariakas

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Khane said:
He's not talking about an eviction. He's talking about simply not renewing a lease, which should be perfectly legal in all 50 states. Whether or not you can actually get legal assistance to forcibly remove someone if they decide to squat even if you don't renew is another story.
Click to expand...

Getting assistance to remove a squatter is the same in every state, only the waiting periods differ.

1.) Give delinquent tenet 'notice to evict' and make sure it is notarized
2.) Wait the designated length of time
3.) Get 'writ of execution' from judge
4.) schedule eviction with sheriff

It sounds burdensome but is really very straightforward and happens all the time. If someone has let a person sit in their house long enough for squatters rights to kick in then they have only themselves to blame.
 
Sanrith Descartes

Sanrith Descartes

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OU Ariakas said:
Initially I agreed that it would be hard for someone to evict in NY, but I just looked at the laws and they don't really look that different from other states. They have a 14 day notice to pay eviction and a 30 day fix/cure notice eviction. You can evict anyone at the end of their fixed lease or if they are at the end of a month to month if you give proper notice (with a maximum notice of 90 days if they have been there for 2+ years). A Sheriff must do the physical eviction.

The eviction moratorium does complicate things, but in May it was scaled back to those that could prove that they were on unemployment or couldn't pay due to COVID (i.e. - prove reduced hours at work or that you lost your job due to COVID and weren't on unemployment).

Without the moratorium, though, I would not consider NY a particularly bad state for landlords based on those eviction rules.
Click to expand...
Here is what I know from living here. And My big concern is the moratorium (which I feel is illegal and the courts may overturn at some point) and they it could end up being open-ended. There is a big difference between commercial and residential. Commercial property isn't that bad of an investment in NY from a law perspective. The residential market is another story. it is difficult to remove tenants and property owners have significantly less rights than in some other states.

www.news10.com

NY Attorney General outlines tenant rights during coronavirus pandemic

NEW YORK (NEWS10) — Guidance is being issued for New Yorkers on how to navigate tenant related issues related to COVID-19 from New York Attorney General, Letitia James. Across New York State,…
www.news10.com www.news10.com


" If you lose a housing case and the judge orders your eviction, you can ask the court for up to one year to move if you can show that you cannot find a similar apartment in the same neighborhood. "
 
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OU Ariakas

OU Ariakas

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Fogel said:
The laws are one thing, it's like with the riots, what good are the laws if the local/state DA's and judges aren't enforcing them. I would look to see if there was a way to see how law enforcement and judges were actually enforcing (or not enforcing) the existing eviction laws
Click to expand...

Fair point; however, these are civil judges not criminal. They usually don't have quite the room for interpretation that the other side does. It is tort law and if you follow the process to the letter then the judge is required to provide relief.
 
OU Ariakas

OU Ariakas

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Sanrith Descartes said:
Here is what I know from living here. And My big concern is the moratorium (which I feel is illegal and the courts may overturn at some point) and they it could end up being open-ended. There is a big difference between commercial and residential. Commercial property isn't that bad of an investment in NY from a law perspective. The residential market is another story. it is difficult to remove tenants and property owners have significantly less rights than in some other states.

www.news10.com

NY Attorney General outlines tenant rights during coronavirus pandemic

NEW YORK (NEWS10) — Guidance is being issued for New Yorkers on how to navigate tenant related issues related to COVID-19 from New York Attorney General, Letitia James. Across New York State,…
www.news10.com www.news10.com


" If you lose a housing case and the judge orders your eviction, you can ask the court for up to one year to move if you can show that you cannot find a similar apartment in the same neighborhood. "
Click to expand...

WOW, I did not see that kick in the nuts.
 
Araysar

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Sanrith Descartes said:
With all the talk about PLTR, no one has mentioned ASAN (Asana) also going public today and also doing a direct IPO listing. Its a software company founded by FB co-founder Moskovitz. My big problem with the company is that it loses a TON of money. it lost 118 million on revenue of 142 million. Revenue growth is solid at 86% but that loss is staggering. Also I havent seen anything really proprietary about the software. its a collaboration suite as I under stand it.

www.cnbc.com

Asana, business software company led by Facebook co-founder, files for direct listing

Asana will resemble Facebook in operating with a two-class structure, with one being much more powerful than the other. Asana's CEO is Facebook co-founder Dustin Moskovitz.
www.cnbc.com www.cnbc.com
Click to expand...

I use Asana daily for work and consulting. They have a competitor rapidly coming up behind them that's a better product (Monday) and its a pretty mature and saturated market with plenty of options. Monday is specifically gunning for Asana in its adverts, branding and promotion and they are successful at it. Asana tries to pretend they dont exist.

Asana is something you use because they were (and still are) popular among startups as a free PM software (they still offer it free to any org that uses it for 15 users or less, perfect for startups) and a lot of your employees would already be familiar with it, not because its some mind blowing product.

It will probably do fine, but this is a company that has already been plateauing with better competitors coming up behind them.
 
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Locnar

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IRL pic of me waiting on PLTR. I"VE ENABLED MARGINS ON MY ACCOUNT as the Palantir draws me deep under its spell.

Saruman is my favorite char in LotR so i'm taking cosmic cues from my spirit guide and letting it take over my soul. wish me luck, my limit order fingers are ready.
 
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