Has anyone done Mid-Term rentals in 2008 recession?

[Francisco Milan]

Hello,

Wanted to see if anyone had mid term rentals through the 2008-09 recession ? Have a few questions for you

-Did you still have a positive cashflow through the recession?

-What adjustments did you have to make?

-Anyone one should look out for ? 

[Bonnie Low]

@Francisco Milan it's an interesting question. Are you asking because you are expecting the pending recession to look like the '08 recession? Dave Meyer has been putting out a lot of great information on the state of the economy through the On the Market podcast. The economy and the drivers of the last recession are nothing like the current economic situation so I'm not sure how relevant the answers will be. I forgot who said it (I've heard Ken McElroy and others attributed), but one thing you can count on when the economy turns down is that there are always a large group of individuals looking to move down market. Few people are trying to move up (housing wise) during a recession. I think our ability to work remotely and the demographic heavily utilizing MTRs may also make this very different than the '08 recession.