HOW LANDLORDS CAN PROTECT THEMSELVES FROM THE CORONA VIRUS

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With this corona virus scare and potential quarantine it could be a HUGE hit to all real estate agents/investors/ small business owners/employees and everyone else! With this potential quarantine tenants could be out of work for weeks so that means late/unpaid rents as these tenants must survive with what they have and not collecting a paycheck. If your a landlord with 20+ properties this could be detrimental to your business! Then how long until these tenants can get back to work and catch up on all their bills so essentially the landlord Is the one taking this HUGE hit! How can we help stop this dismantling of our investments? Make a shift in your rental vacancy's with section 8 tenants as every month you will be paid IN FULL and not have to worry about this potential collapse in our economy and tenants being late with rents. You can also take advantage of this time and be able to BUY real estate at a low with all of this turmoil in the air! Broaden your portfolio when the market is low get a section 8 tenant in at market rent and hold the property and sell at a high when the market is back or hold and collect your rent!! There is ALWAYS OPPORTUNITY in every situation you just have to know the right people and be smart about it! Syracuse is a great a market and I have had nothing but utter success!

This is a great strategy, thanks for sharing! I would agree with that with the Charleston, SC area too as tourism and hospitality are huge here and will definitely be affected by the coronavirus. 

@Edward DePalma love this Eddie , I am so grateful for my section 8 tenants in a time like this . You are right , it’s a great time to buy a deal ! I am looking to fill 2 vacancies in May and I’m going to push for section 8 .

I agree Section 8 can be great strategy for times like these.  I have a few section 8 tenants. Just be aware that every section 8 voucher is different.  Some of mine only cover 25% of the rent.  So I get two checks one from section 8 and one from the tenant.  If I were to do it all over again I would try to get tenants with more substantial needs.  Meaning a higher section 8 premium.  Currently, I am going through a eviction with a section 8 tenant because he was late quite a few times last year and now won't move out.  This was all prior to this coronavirus scare. Next time, I will be a bit more picky when filling my properties.  Still learning the part about leave it vacant for the right tenant or fill it with a wrong tenant.  Even with Section 8, tenant screening is a skill to master.