Updated over 5 years ago on . Most recent reply
The Future of Rent Payments from C Class Tenants - COVID-19
BP Nation:
In this time of uncertainly, many real estate investors are putting deals on hold waiting for any sign of stability. Personally, I have increasing concern surrounding my existing properties. I am an out of state investor that focuses on C class properties and most of my tenants are plumbers, restaurant workers, hair stylist, and other blue collar workers. The reality is, most of them also live paycheck to paycheck. What happens when all restaurants and other places of work close due to COVID-19 and they can no longer make their monthly rent payments?
From my perspective, ensuring you have adequate cash reserves and evaluating refi options at this time can help prepare for this unknown but I am anxious to hear from others.
Most Popular Reply
#5 All Forums Contributor
- Investor
- Greer, SC
Yes I believe cash reserves are always a good thing. I own all my LTRs with no mortgages.
I will as always keep my eye out for more cheap cash deals as these are low risk.
I think you will be extremely lucky if you don't have tenants that struggle to pay rent for the next couple months.