Market rents were, let's say, 500 bucks, Section 8 housing would get you above market rents. It was actually weird. Rents are really, really suppressed as opposed to the one that is on market. And we have several years left on this loan. I had always heard government money, you're getting Section 8 housing, you're getting these loans, USDA. Hello and welcome.

My name is Gino Barber, one of the co-founders of Jake in Gino.

And in this how-to video, we are going to be talking about the government shutdown.

And more specifically, how the government shutdown is going to affect your

multifamily portfolio or for in that case any portfolio you have out there in real estate.

Let me start out by saying it's interesting how back in 2018 the narrative was being spun a certain way when there was the first

shutdown on the Trump's administration. And now we have a different narrative. And it feels to me as if

there is a continuing resolution that CR bill that would have been passed, that they passed in the

House that went into the Senate and all the Republicans signed it. You have Democrats

that didn't sign it. That continuing resolution would have allowed the government at least to

stay open for certain functions while they were able to work and negotiate for the next seven weeks.

But the Democrats decided not to sign it. Government shuts down.

We've been through this.

And I'll take you back to 2018.

Why did I mention that?

Because in real estate, specifically multifamily,

I had always heard government money,

you're getting Section 8 housing,

you're getting these loans, USDA.

It is guaranteed money. And I sort of found out the hard way that

it's not always guaranteed, especially if you have a USDA loan. And in 2018, I chuckled because

every time I think about the story, it just makes me want to cringe. We had just closed on a property.

...