S.E.C. Real Estate Observer

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This is completely ridiculous. As I sit here, I am about to leave for the highlight of my day today—at 4:30 I get my first injection of the COVID Pfizer vaccination. Sad that now I have to wait three weeks for another “anticipation high”—the second dose.

I am so glad that 2020 is gone, but it seems that 2021 has turned 21 and can now drink. It is not over, and here we are in February, one year later, and still shut down. Hopefully this stuff will be over by fall.

I am grateful we had Zoom meetings. They were better than conference calls with several people trying to speak at once, but I am sick of them, too. Zoom meetings are kind of like Tofu burgers—they accomplish the objective, but it just isn’t the same!

Right in the middle of all this dislocation, job fear, sickness, and uncertainty, our church brought out a bold campaign: “When the World Pressed Pause, the Church Pressed Play!” We have increased our two-year campaign by a substantial amount. Compass Christian Church is on a mission to help others in our church, in our area, in Texas, across the US, and in missions worldwide.

Dallas Evictions 2020 is a pro bono legal group of attorneys that helps tenants facing eviction. Its goal is to help tenants who need assistance without sticking it to the landlords. This group of attorneys is making a difference. I just wish someone would help the small landlords who have one or two rental houses make their mortgage payments.

Dave Portnoy of Barstool Sports just stumbled on the idea of the Barstool Fund. He wound up putting $500,000 of his own money into the fund. With help from many famous donators across the spectrum and over 600,000 other excited supporters, Dave has been able to hand out millions of dollars to restaurants, at least one clothing store, and many other small businesses impacted by COVID. One hundred percent of the donations are actually invested in small businesses that truly need the help. Dave is what is known in the military as a force multiplier.

The S.E.C. Members I have talked to are mostly doing OK. Some of us are busier than ever and having banner years. I personally am slammed with leases, sales, and a few acquisitions. The market has been awesome to me in 2019, 2020, and so far in 2021.

There is a big difference between those who are doing well and those struggling. Personally, I have had two tenants who had retired at an earlier age in their lives and used all their savings to open their dream small businesses. I just signed a termination agreement allowing one of them to walk the lease, even after I had given him significant rent abatement since March. Mark’s business was a gathering spot for friends to meet and make crafts and enjoy a glass of wine together. I offered him extended abated rent if he would just pay the NNNs, but he was just tired. That is OK; I will find another tenant. I just hope Mark can try it again someday.

So, what are we doing to help others during this time? Tricia just sent some money to Dallas Evictions, and I am going to donate to Barstool Fund. Keep your eyes open for ways to help others. Don’t hesitate to ask your friends to join you. Post opportunities on your social media. Heck, tell the S.E.C. what you are doing to help. After all, that is what this nation was founded on.

And if you know of someone in need, do not hesitate to contact the S.E.C. Office. That is what the S.E.C. Education Foundation is all about.