After Covid-19 -- What will be lucrative in RE, Business, etc?

Question

Due to the state of the economy with the Coronavirus pandemic, what do you see on the horizon that would be lucrative to get involved in, be it real estate, a business start up, creating an online business, investing in stocks, general investing, etc?

Please elaborate on any of your insight and / or suggestions. As always, we appreciate your time.

Thank you

Please elaborate on any of your insight and / or suggestions. As always, we appreciate your time.

Thank you

Franky Aikens · Answer

I would look into products and services that support remote working. Although people will be getting outdoors after this is over, they may not be going back to an office as there may be a strong use-case for the financial and production benefits of a remote workforce. More companies and employees will likely be open to it.

Of course, this is a broad category but I truly think there will be opportunities there. Whether is around professional good and services or personal goods and services that are more attractive to those who now work remotely.

Jay Hinrichs · Answer

I agree.. although i think it will be farther down the track.. I think what will happen is people owe 4 months at once can pay it and will pay current month then make a payment plan for the 3 or 4 months they missed.. I mean as a lender I would certinaly do that than start a foreclosure. But if not.. I think the time lines are extended there is a federal law that you cant start a foreclsoure on an owner occ without 90 day notice.. so lets say it goes the 3 months . they dont pay.. bank sends letters for 30 to 60 days.. then they send the 90 day we are going to foreclose.. then about 180 days to 240 days maybe they start the process.. so I am thinking the per foreclosure stuff is more like Q 4 or Q 1 21 . And on the west coast if the bank actually files a foreclosure there are very STRICT rules on what a person can do with a homeowner in foreclosure..

Michael J Scanlon · Answer

Keep an eye out in the near term for pre-foreclosures. Many banks only gave 3 month forbearances with all 3 months plus the next month due in month 4. So in a couple months we will see a bit of rocky turn unless something changes.

After Covid-19 -- What will be lucrative in RE, Business, etc?

After Covid-19 -- What will be lucrative in RE, Business, etc?

Most Popular Reply

3 Replies