Episode #84: How to Get Free Stimulus Money from the U.S. Government and Optimize Your Rent Collection with Diane Kennedy

Episode Summary

New York Times Bestselling Author and CPA Diane Kennedy return to The Maverick Show to break down all the U.S. Government’s stimulus bills, how to get free money, and which of the new programs are applicable to you–whether you’re unemployed, self-employed, a freelancer, a business owner, or a real estate investor. She explains the incredible boost in unemployment benefits, how to navigate the backlog, and how independent contractors and self-employed people can qualify for the “Paycheck Protection Program” along with business owners. She explains the eviction moratorium as well as the mortgage forbearance program and then talks about little known stimulus benefits for individuals with student loans and businesses who qualify for micro-loans. Diane also talks about the real estate market, how her personal portfolio is holding up and shares tips on optimizing rent collection. She explains why she doesn’t think the housing market is going to have a major crash and why she and most of her real estate investor clients are looking to buy more rental properties within the next 30 days. She also discusses her new book “CoronaTax: Free Money. New Opportunities” that was just published and offers Maverick Show listeners an opportunity to join a free private Facebook Group with purchase of the book to get ongoing updates. Full Show Notes Available at www.TheMaverickShow.com. SCHEDULE A FREE PHONE CONSULT WITH MAVERICK INVESTOR GROUP ABOUT BUYING TURNKEY RENTAL PROPERTIES IN THE MOST INVESTOR-ADVANTAGED U.S. REAL ESTATE MARKETS AT www.TheMaverickShow.com/Consult

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About the Guest

Diane Kennedy

Diane Kennedy is a Certified Public Accountant, real estate investor, location independent entrepreneur, and the New York Times best-selling author and co-author who has written 15 tax and real estate books. Diane has over 35 years of experience advising some of the nation’s wealthiest and most prominent business owners and real estate investors, including Rich Dad Poor Dad author Robert Kiyosaki, and she wrote one of the first books in his Rich Dad Advisors series. Diane’s mission today is to disclose the money-making, tax-saving, and asset protection secrets used by the super-rich and explain them to everyday Americans using real language with actionable steps. She is the co-founder of US Tax Aid Services and the founder of Cash Flow Accounting, both of which are completely virtual companies that she can run from anywhere in the world, and she and her husband Richard have traveled to over 40 countries. She has just published her latest book entitled Corona-Tax: Free Money. New Opportunities.

What You'll Learn

The stimulus programs and opportunities to get free money from the U.S. Government
How to optimize your rent collection during the pandemic
Why Diane is looking to buy more rental properties in the next 30 days

Links From the Episode

Disclosure: This page contains affiliate links. If you click through any links and make a purchase, you should assume that Maverick will receive financial compensation (at no additional cost to you). We greatly appreciate you using our affiliate links because it helps to support the show and cover production costs of the podcast.

SCHEDULE YOUR FREE REAL ESTATE INVESTING CONSULTATION WITH MAVERICK INVESTOR GROUP

GET DIANE’S NEW BOOK (And Bonuses Including Access to Her Private Facebook Group While They Last)

CoronaTax: Free Money! New Opportunities!

LEARN MORE ABOUT DIANE’S CPA FIRM

USTaxAid

SOFTWARE MENTIONED IN THIS EPISODE

OTHER MAVERICK SHOW EPISODES MENTIONED

42: Real Estate Tax Strategy, Writing New York Times Best Selling Books, and Building a Virtual Accounting Firm with Diane Kennedy

PLACE WHERE THE INTERVIEW TOOK PLACE

Time Stamped Show Notes

[4:51] How Diane is Optimizing Her Rent Collections During COVID-19

How Diane’s personal portfolio is being impacted by the pandemic
The importance of communication and empathy with tenants
Why getting partial rent payments is better than no rent payments
Navigating the eviction moratoriums

[8:15] Advantages to Buying Rental Properties During the Pandemic

Leapfrogging over the eviction moratorium
“De-densification” trend of people moving from apartments to single-family homes
Why Diane’s real estate investor clients are looking to buy within 30 days

[12:12] Understanding the “Mortgage Forbearance” Programs

How the mortgage forbearance program works
Precautions when taking advantage of the mortgage forbearance program
Student loan forbearance programs
Forbearance plans for car loans and credit cards
Why it’s unlikely that there will be a big housing crash

[16:35] Unemployment Insurance

Navigating the unemployment payment backlog at the State level
The new unemployment insurance terms and the amount available
The newly expanded qualifications for unemployment under the CARES Act
Retroactive unemployment payments available amidst the delays

[20:00] Diane Explains the Main SBA Loan Program Terms and Qualifications

Qualifications for the Paycheck Protection Program (PPP) Forgivable Loan
Calculations, Submission, and Requirements for PPP Loan Forgiveness
The changing parameters of the “EIDL” Program
Independent Contractors and Self-Employed people eligible for the PPP
The criteria for spending the PPP funds to qualify to receive full loan forgiveness

[29:15] Less Well-Known SBA Loan Programs

The 7(a) Loan with 6 months of payments covered by the government
The 504 Plan to buy a building for a business with 6 months payments covered
The MicroLoan up to $50,000 with 6 months payments covered
The programs that are most applicable to different types of real estate investors

[31:40] Real Estate Investor Benefits in the Stimulus Legislation

Benefits for AirBNB businesses
Buying buildings for your businesses
Mortgage forbearance for residential rental property owners (and housing stabilization)
Increased unemployment insurance amounts help tenants pay rents

[36:20] Diane’s New Book: “CoronaTax: Free Money. New Opportunities”