374: What Real Estate Investors NEED to Know About the Coronavirus, the Economy, and the Problems At Your Door
Rent's due... or is it?
From quarantines to eviction moratoriums to a plummeting stock market, COVID-19 has upended seemingly everything -- and today we talk through what it all means for real estate investors.
J Scott, author of Recession-Proof Real Estate Investing, and Scott Trench, author of Set for Life and CEO of BiggerPockets, join Brandon and David for a roundtable discussion packed with perspective and insight.
We begin with a high-level analysis of today's economy, and discuss how you can fortify your portfolio in the face of a likely recession (there's still time!). Then, the guys take on your most pressing questions -- starting with, "what happens if my tenant doesn't pay rent?"
*NOTE: If you want to skip directly to audience Q&A, that section starts at 1 hour, 5 minutes.*
Whether you're a brand new investor nervous about getting started... or a veteran waiting for the right opportunity to deploy capital, this episode will give you a chance to take a deep breath and assess the playing field.
We hope you enjoy this special episode, recorded March 18... Stay safe, take care of yourselves, and stay tuned for more Coronavirus content across all BiggerPockets platforms in the days and weeks ahead.
In This Episode We Cover:
- BiggerPockets members' top questions right now
- How to control your emotions when people around you are panicking
- Which strategies do and don't work well during downturns
- How to approach tenants who have lost income and don't pay rent
- The importance of "buying right" and keeping cash reserves
- 6 ways real estate investors should prep for a recession
- How power dynamics in the marketplace will change
- Whether you should still be out there looking for deals
- How to productively use your time while confined indoors
- Adjustable Rate Mortgages today
- COVID-19's effect on the overall economy
- The effects of Quantitative Easing and 0% interest rates
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Money Podcast
- BiggerPockets
- Real Estate Rookie Podcast
- BiggerPockets Business Podcast
- Mindy Jensen's BiggerPockets Profile
- Imperial College COVID-19 Response Team Article
- Ray Dalio
- BiggerPockets Podcast 297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke
- BiggerPockets Calculators
- 4 Wealth Generators of Real Estate Investing (video)
- Zillow
- BiggerPockets Podcast 311: 6 Rules for Investing in Real Estate in the Coming Economic Shift with J Scott
Check the full show notes here: http://biggerpockets.com/show373
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