Podcasts Business Flipping America Flipping America 345, Real Estate Investing During a Pandemic

Flipping America 345, Real Estate Investing During a Pandemic

Published: March 22, 2020, 4 p.m.

b'

A week ago I noted that nearly half of the newspaper and media stories were about the COVID-19 virus (and I\\u2019m going to try and stop using Corona virus out of respect for Corona Beer and Corona Cigars, neither of which had anything to do with this). This morning as I read the newspaper, 9 out of 10 stories were either about the pandemic or the effects of the pandemic. US cases as of today, March 19 exceed 10,000 and we have had 161 deaths. Not to be insensitive but to provide a little perspective, So far in 2020, the flu has hospitalized more than 250,000 and more than 14,000 have died.\\xa0

It\\u2019s staggering to see the entire American economy come to a grinding halt. Just today, San Francisco is shutting down the entire city for four weeks. Churches, restaurants, bars, and gyms across the country are not meeting. People are either working from home or not working. And the financial effects are being felt from Wall Street to Main Street. Those with good jobs are suddenly without work and are facing an imminent crisis when their cash runs out.\\xa0

How will they pay mortgage or rent? How will they buy food? How will they live? The government is stepping in. Congress has already passed two stimulus measures and they are working on more, more than $1 trillion in stimulus spending is planned and the White House has said they will do more if needed. FHA has called a moratorium on foreclosures and evictions from all FHA guaranteed loans for the duration of the crisis, At least three cities have already banned evictions and others are considering it. I\\u2019m immediately wondering two things.

  1. How far up the food chain will the forgiveness for non-payment go? We can\\u2019t evict our tenants for non-payment, but without their rent, we may not be able to pay our mortgages. For those with free and clear rentals, that money may be our primary income. What will we do?
  2. All of the social distancing is designed to protect the contagion from spreading. But this cannot last forever. When it DOES end, if only one person in the world is still contagious, what is to keep this from starting all over again?\\xa0

I believe the health experts are working on answers to the second question. Our purpose over the next little while is to try and address more of the economic questions, particularly with regard to real estate investors.\\xa0

My team and I will give 30 minutes of our time at no cost or obligation to help you take the next steps - or your first steps in your RE business. Go to bit.ly/talktoroger

Also, we have lowered the price of our entry level course, \\u201cReal Estate Investing Quick Start\\u201d to $97 for the duration of the crisis. bit.ly/requickstart

The Economy as a whole

The Short-Term economic outlook.

The Long-Term impact

The Recovery time and process (once we hear the \\u201call clear).

Question: Do you expect a quick snap-back due to growing pent up demand? (A V-shaped recovery?)

The Federal Government Economic Intervention

Stimulus package passed Wednesday afternoon: 2 weeks paid leave for employees.\\xa0

$1 Trillion stimulus package on the way.

FHA backed loans will not foreclose for at least 60 days.\\xa0

Other initiatives?

Local

California stops evictions. Boston and New York considering.\\xa0

Question: Should these same municipalities spare the landlords from having to maintain properties and pay mortgages during this time? How far up the ladder should relief go?

Asset Classes for Discussion. How do you see each of these areas being impacted? And more importantly, what can people do who make their livelihoods here?

Single Family Fix and Flip

Single Family Rentals

Multi-Family Rentals

Short-Term Rentals

Other Real Estate Investing Strategies

General Questions:

What should each listener do right now? Your top 2 things

What opportunities are out there right now?\\xa0

What opportunities will be there when recovery is underway?

When the \\u201call clear\\u201d is given, what is the optimal position for us to be in?

How to contact us

www.flippingamerica.net.\\xa0

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) \\xa0 ext 1. Leave your message or your question.\\xa0

Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don\\u2019t mind.\\xa0

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

RE QuickStart bit.ly/REquickstart\\xa0

Announcements:

  • The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.\\xa0\\xa0
  • Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It\\u2019s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
  • FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities.\\xa0
  • \\u201cReal Estate Investing Quick Start\\u201d Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News:\\xa0

\\xa0

  • \\xa0

Topic: RE Investing During a Pandemic

\\xa0

Your Questions: Send emails to questions@rogerblankenship.com

  • Many \\u201cIf I can\\u2019t collect my rent, what am I supposed to tell my mortgage company?\\u201d
  • Carter, Tampa, FL \\u201cI have several tenants who are already not paying, although I believe it has nothing to do with the coronavirus. As I write this only about 20 people in our metro area have it. How do I proceed?\\u201d\\xa0
  • Suzanne, Villages of Ocala, FL \\u201cWe live in a retirement community and along with our neighbors we are truly frightened. No one is going out. We are having food and supplies delivered and sanitizing the bags they come in before touching them. I can\\u2019t help but wonder how America is going to cope. I love your show and enjoy your enthusiasm. I\\u2019m just wondering what your outlook is right now.\\u201d



Motivational Thoughts for the day

\\u201cIt\\u2019s going to be OK in the end. If it\\u2019s not OK, it\\u2019s not the end.\\u201d

-Roger Blankenship

\\xa0

Tags:\\xa0

'