Good news is few and far between these days so this podcasts focuses only on positive news. Aaron will discuss a number of headlines that are good news and will put a smile on your face. Also review some updates on the real estate market and how PCG is faring. Subscribe for a new episode every week.
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Aaron Fragnito: All right, ladies and gentlemen, welcome back to the Passive Cash Flow Podcast. I’m your host, Aaron Fragnito. This is episode number 24. We’re going to talk about some good news.
As you know, there’s been so much bad news out there. We’re going to talk about some good news today to make us feel good, to help us remind ourselves that, “Hey, there’s a lot of great people out there. In fact, most of us are great people, we’re doing great things right now.” There’s amazing things going on and unfortunately, the media doesn’t always focus on that so I’m going to focus on that right now. There’s been a six-month suspension on US federal student loan payments that are now in effect. I personally just paid off my student loan debt literally in February so unfortunately, that doesn’t apply to me. Hopefully, you paid off your student as well, felt very good.
If you haven’t, then you have a chance to suspend those payments on that student debt so take advantage of that. Also, New England Patriots sent its team jet to deliver 1.2 million N95 masks from China to Boston. Now, I’m not a Patriots fan, I am a Giants-Yankees fan and I definitely think they’re a better team but overall, I am very happy that the Patriots did this and it’s great to see the NFL participating, helping out things here. Also, New York City opens special center for kids of health care and other essential workers on the front lines of the COVID-19. We’re really trying to reach out to those health care workers and do things to help them and their children in these tough times.
Thank goodness they’re there for us and everyone, our sanitation workers, the police officers, firefighters, anyone that helps here in our day-to-day activity, our lives and our society to keep them running. Just some quick updates as well on what we’re doing here at People’s Capital Group. We’ve had over 95% collections on one of our buildings. That’s good news there. We’re still working with a lot of investors and communicating very well with them and keeping our tenants happy and safe as best we can and advising them all the resources there to help them.
The good news is that PCG is doing well, we’re making sure we’re communicating with all the people we work with, keeping our tenants happy so our investors are happy and trying to work out deals and payment plans of any tenants that are running into challenges on paying the rent. We are really trying to work and improve some things there on PCG and keep the wheels turning through these tough times.
Let’s go back into some fun and positive news stories. JOANN Stores are handing out free fabric supplies at curbside to anyone sewing face masks at home. If you’re sewing face masks at home and you want some supplies to do that, JOANN Stores are offering them. Interesting. Also, Virginia reportedly becomes the first state south to mandate the 100% clean power. We’re going green there. That’s interesting. They’re saying how much less pollution is going into the world, how much the world’s not shaking now. We’re all moving so much less in quarantining.
It’s crazy what an impact humans have on the globe. We actually shake it when we’re all working and moving the economy day by day but now that we’re all quarantined, it’s not. It’s a crazy fact I heard. Here’s something fun. Missouri deer hunters donate 350,000 pounds of venison to food banks across the state. That’s something interesting. Those pesky deer eating our flowers can now be fed to hungry people across the state. Sorry if you’re a vegetarian but that if you had a garden in New Jersey, you don’t really feel bad for the deer after a while.
Also, California government attacks the crisis of homeless by donating nearly three hundred state-owned buildings for shelter. I love this headline. California is donating buildings that they own. I always think cities should do this. Cities have so much real estate. If you ever driven through Newark, New Jersey, you see a lot of abandoned properties and that’s terrible. It’s an eyesore, its dangerous for the neighbors. It’s where people go to sell drugs and get in trouble. It starts fires, it can burn down neighborhoods. Abandoned real estate is a bad thing.
Whenever cities takeover real estate for lack of tax payment or the property’s abandoned or whatnot and the citizen do anything with that real estate, it really annoys me as a real estate investor. We’ve tried to buy a lot of real estate from the city of Newark, real estate that’s owned by the city of Newark that’s sitting there, wasting away, causing problems. The city doesn’t even really cooperate with you to sell you that real estate. They might have two or three meetings and then never get back to you. It’s hard to buy real estate from the city. They tend to just hoard it and it goes to waste.
I like this headline because the city should not be hoarding real estate and not either selling it to investors who are going to turn it over and make the best use of that real estate, or the city should improve it themselves and create jobs and maybe give it out to the homeless or low-income housing or whatever this area needs the most, but city should not take real estate and hoard it. Newark does that. We’ve never been a fan of the City of Newark for doing that. Maybe they’ll watch this video and they’ll start selling us some more of their city-owned real estate, or not. We’ll see.
Guys, Aaron Fragnito of People’s Capital Group here. I did just want to do a quick video with some positive headlines. Here’s one more positive headline. The CDC director commits to free coronavirus testing for anyone in the US regardless of insurance. The government, I really think they’re out there trying to help us. Hopefully, the PPP funds get reimbursed again and more funds going to the PPP and more small business owners can get those government loans to help out, us, small business owners at this time.
As far as what we’re doing here at People’s Capital Group, we’re keeping a keen eye on the market, we’re making sure our investors are aware of what’s going on, we’re paying interest to our investors where it’s owed, and we’re also continuing to work with our tenants to make sure that our buildings are performing during these tough times. If you want to learn more about how you can team up with PCG and apply to qualify for investment with People’s Capital Group, go to our website, peoplescapitalgroup.com and subscribe to our podcasts for new episodes every Friday.
We also have a YouTube channel called People’s Capital Group on YouTube, check that out and check in for more videos next week. Thanks a lot.