What are the industries biggest obstacles?

[Courtney Wenzel]

I'm mid 30's and have work construction my whole life. Mainly civil construction and the last 10-years swimming pool and landscape design/build in Phoenix and Southern Florida. I'm looking to venture out on my own and start my side hustle and let it gradually grow into a full time hustle. 

I'm fortunate enough to have a job that is commission based and allows me to bring home a significant enough income that I don't have to stress about money and have some savings as well allows me plenty of flexibility and free time throughout the week. I have access to the VA loan and was thinking of "House Hacking" I think they call it. Live in it for 1-2 years (I think its 2 years with a VA loan) and rehab it while living there.

Unfortunately with our current crisis on the Corona-virus I foresee a lot more houses back on the market and better inventory in the near future. 

With that being said, I am looking for some feedback on some of the industries largest struggles? Or what are a few things that completely blindsided what you originally had planned or thought? Are there any industry pet peeves or unspoken rules of the trade? Are there any items/tasks/projects/responsibilities that you expected to be difficult that ended up being easy or making yourself more money than anticipated?

Thank you for any feedback! I recently discovered @BiggerPockets .com and still learning my way around but finding it to be pretty awesome! Its so refreshing to find a community that isn't cramming a $$$ seminar down your throat. Its even more rare to find an interactive community with people providing great feedback!

[Wes Blackwell]

@Courtney Wenzel

Well, probably the biggest consideration is whether or not the state's Government considered "real estate" an essential service or not. 

For example, I am licensed in California and in Arizona. I work the Sacramento and Phoenix metros primarily. In California where things got shut down, our broker instructed us to not to any open houses or any showings. In Arizona it's practically like nothing ever happened. Had one of my agents do a couple open houses this past weekend and had like 5-6 people through each day. So practically no change.

I predict that some buyers will drop out to uncertainty and false worries, and others will be pushed off the fence by the low interest rates and fill their shoes. So even if there is a temporary slowdown, once the overblown mass hysteria dies down things will likely return to normal with a bunch of pent up demand that's been shut in doors the previous few months.

After all, it's not like housing demand is suddenly going to go away. In the bread-and-butter price points in each market there shouldn't be as much long term effect, and it will quickly rebound. But the luxury market make take a wallop as many buyers and sellers are business owners with their wealth tied up in other asset classes that may be more affected by the Coronavirus outbreak.