All Forum Posts by: Alan Ford

@Jeff R. Hi - just go to Redweek.com - you are welcome

@Lucas Carl I know right? What a let down. Haha

I mentioned in my OP I would talk to local PMs etc. I’ve spoken to a few now that operated during the recession, and they basically said their rentals were down by about 25% or so on average. Picked back up in 2011 and then took off from there.

I would plan for at least that much of a reduction. Likely to be higher given the dynamic of business facing mandatory closures. The problem with that is some business can’t afford to be closed and may go under - then the chain reaction starts. Business close, can’t afford to reopen when things get better, employee loses job, employee can’t afford to travel etc.

@John Underwood let’s hope for none of us!

@John Underwood good for you John. I do have a question for you guys though. Does anyone know how it works for taxes If the expenses end up being more than the rents brought in? Ie: taxes, utilities, mortgage interest etc? Is that tax deductible? I do not have an LLC or anything.

@Lucas Carl I love the TP title! I am offering to cover the cost of grocery delivery to my cabins through my PM as well as having a little extra marketing push around having the cabins “sanitized” which basically means nothing. But bookings are still holding on. I am in CA and they just shut down bars, wineries and forced all restaurants to operate at half max capacity. Let’s just hope this doesn’t happen in TN !

@Lucas Carl means some people may not have a choice in their travel plans. It means some people might have elderly people at home that if they were to pick this virus up during their travels - could kill them. It basically means - just because there is a “policy” - let’s not forget basic human decency during periods of turmoil. We all may take a hit, luckily you and I with our properties in the Smokies May weather the storm better than others.

Having said that, there are others who aren’t so lucky.

So it looks like the Fed just did a bunch of stuff today (Sunday March 15th). How long will it take for this to filter down and bring interests rates down ?

Just remember compassion is a thing guys. All I’m gonna say.

Thanks! I agree on the recession proof for the most part.