Hi! Closing on investment property this week. Single family home. My question is would I be able to find tenants now during corona outbreak ? Would the be able to pay ? Will government pay me back if tenants won’t be able to pay? Is anyone else going through the same thought process?
Is it the worst time to close on investment property ?
In my market I haven't seen it effect rents. Have you guys had cases there? At the end of the day people will always need pace to live. Don't know if gov would intervene, very interesting time.
I wouldn't rely on the government bailing out landlords.
Have some extra cash and put a little cushion in your numbers. If the deal was already tight and you don't think you could handle a longer vacancy then you may want to delay or back-out.
Landlords allocated only in Airbnb business are already feeling their business hurt. Lots of cancelations from US and from overseas. In my opinion most of Airbnb host and Landlords will have a reduction of their business for the next 90 to 120 days. Airbnb operators who have limited cash reserves will be underwater pretty soon. The Government will not bail out Landlords.