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Ep 069: How will the Coronavirus impact you? | Michael Zuber
04:24 – The first thing Michael always does in the morning is try to figure out what is going on in the market. Michael believes that the largest expense line for him is the mortgage.
08:53 – Michael believes that consumers are changing their behavior because they are scared. Three weeks ago they’re top of the market, 3 weeks later the market is down 6000 points says Michael.
12:37 – People that are thinking about moving will not be able to, gatherings are prohibited, and consumers are changing their behaviors because of the virus says Michael.
15:20 – Michael believes that flippers are in trouble but buy and hold landlords are about to be given a gift. Michael sees this virus crisis as a combination of 9/11 and the 2008 financial crisis.
18:50 – Michael clarifies about the 10K he mentioned. 10K is basically cash out of pocket.
21:53 – Michael gives his advice to people that are just starting with owner financing. Typically, you have to find the right owner which means they owned the property for decades.
25:31 – Michael talks about how the market crash impacts the rental markers. Michael also explains the difference between occupancy and economic occupancy.
27:01 – Michael believes that if you’re doing AirBnB in a vacation hotspot, you’re in trouble. If your AirBnB is in a hotbed area, like somewhere you have to go via airplane, you’re about to see significant cancelations says Michael.
32:19 – Get connected to Michael Zuber on his YouTube channel One Rental At A Time. Michael posts an average of 2 to 3 videos a day of original content.
32:43 – Michael believes that when consumers are changing behavior, true investors are getting excited. Michael sees a great opportunity to profit from this change of environment. This is the time where investors step up and learn their market.
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