How has COVID POSITIVELY impacted YOU and/or your REI Strategy??

[Nick Webb]

Hey BP!

It has been pretty easy lately to talk about and focus in on all the negative aspects that COVID has placed on lives, and how it may change the way society and the RE industry operates in the future. Cap this off with on-going racial tensions all within an election year, it seems that we are constantly anticipating another negative event and questioning whether a silver lining will ever present itself through all of this. I'm a firm believer of "You are what you think about" and the Law of Attraction, so to switch up the narrative a bit, I'm curious to hear from those who are willing to share, how has COVID POSITIVELY impacted YOU and/or YOUR REI strategy??

Have you been able to take advantage of quarantine and spend more time with family or reconnect meaningful relationships, in which discovering this balance allows you to work more effectively? Any landlords take time to have a conversation with their tenants and provided relief/understanding of the current situation and developed a stronger relationship with them than before? Did COVID present a unique opportunity that proved to be advantageous to your RE portfolio/network? Did COVID eliminate a day-to-day distraction which allowed you to focus on personal areas of improvement? Learn any new skills, RE techniques, creative financing opportunities? Ignited a strong desire for success?

I can start by saying what COVID has done FOR me is kick-started my personal RE Investing journey. With already working in the RE industry (in Charleston, South Carolina) for about 5 years now, I've always been aware of the endless opportunities found in RE but never took the initiative to start my own personal pursuit. Because COVID was, more or less, sudden and unexpecting - it abruptly shifted my perspective on my quality of life and how I don't ever want to rely on another person, business and/or company to provide my only means of income. I then made the decision to not become complacent and find an opportunity that builds wealth and is self sufficient. And why not with real estate?! Fast forward a few months, I'm a part of the BP community and had the opportunity to virtually meet several awesome like-minded individuals, engaging in conversations sharing insights of our experiences in the industry. I'm now at the point where I'm actively pursuing my first (outside my primary residence) investment deal! Though this process isn't easy, I'm learning and motivated to pursuit and fulfill my goals! 

I'm excited to read how everyone else is capitalizing and leveraging their opportunities during COVID!

[Russ Scheider]

@Nick Webb 

I love this discussion.  "What we focus on expands"  It's easy to get caught up in the what can go wrong and miss out on what can go right.  I have to make a conscious daily practice of asking myself "what can go right?"

1.  COVID-19 has caused some cash buyers to become cautious, especially the buy-and-hold crowd.  I pivoted my wholesale business more toward fix-and-flip cash buyers and have worked hard this year on building mutually-beneficial relationships with a few serious cash buyers.  Specifically downtown buyers.   

2. The local market is HOT.  I have shifted my focus from cash-offer-or-nothing to "how can I solve this seller's problem?"  After 6 years full-time in flipping, wholesaling, and short-term rentals, I added my RE license in 2019.  This year I am offering sellers the option of trusting me to list houses for them and use the marketing, sales, and negotiation skills I have acquired in my private RE business to help these sellers sell at retail.  The "how can I solve your problem" has also resulted in 2 sub-to deals this year.

3. As a result of the hot market, finding houses to flip is difficult. I won't stop flipping SFR's, but I am spending more time analyzing other property classes and have wholesaled a mobile home park and some vacant commercial land.

Thanks for starting this discussion.  Let's work together on something soon.