Today's episode is about helping you maintain your real estate investing business during this unprecedented time of the Coronavirus.
I never imagined the 100th episode of INVESTTHIS would be centered around a pandemic and its massive impact on the world. I had a crazy week dealing with the fallout, as well as doing everything I can to ensure my future. I wanted to share where the market stands today, and some real-world examples, advice, and tips on how you can maintain your business in these wild times. At the same time, I offer some positives as well as the steps you can take right now to secure your future.
Key Takeaways
- The shift in the market
- Benefits that have come from the Coronavirus
- How my business has changed in the last two weeks
- Buyer pull-back
- iBuyers have pulled out of most markets
- The ripple effect of the Coronavirus on business
- Short-term rentals market
- Pricing shortage and MLS listings
- The shape of the recovery could go two ways
- Preparing for a possible recession
- What you can do right now to keep your business strong and flourishing
- Downmarket opportunities
- 5 Steps to Take During the Coronavirus to Maintain Your Business
- What marketing you should be doing
- How to best utilize your line of credit(s)
- ARVs are no longer the same
- Working with discounts
- Double your production
- How to make contingency plans on deals that are pending
