One thing me and a good friend of mine were talking about is how there is a possible downturn (Not saying it’s going to happen I have no clue if it will or not) but we were talking about banks calling loans due so I’m just trying to brainstorm on how to counteract that and make sure your rentals are recession proof and able to have a exit strategy if banks do start calling notes due on what your plan would be.?

Hey guys, just a quick bit of food for thought and discussion.I understand that screening tenants is crucial nowadays but I am starting to think that going with a month to month lease agreement for new tenants will be a good way to counteract the effects of COVID.

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They are certainly welcome to but I try to give them what they need from the comfort of there own home.I didn't mean for that to sound like a sales pitch, I'm just saying how we counteract the problem you are having.

There is some weakness in the 5+ multifamily market, but not enough to counteract the changes in lending standards and terms.

So that would boost your cash flow by $150 and counteract the $120 loss for 5% higher expenses, close to a wash.Last thing, although this property looks to be relatively turnkey, I'd always budget for some repairs up front, maybe 1-2k.

And in addition there will be a presumption about your intent as a wholesaler to assign the counteract...It’s hard to see this being worth your time at the end of the day, not to mention you will likely have to close yourself.

Not to beat a decaying and dead to the point of being atomized horse - I believe that's the same principal when un-licensed wholesalers get a fee for arranging for the sale of RE is not allowed in OR.

As the homes decay, so does the value of the homes and the attractiveness to an "improved class" - whatever that means.  

I think a lot of new investors look at the allure of STR and see the big revenue numbers and forget how much damage your house and your furniture and your furnishings will take with guest after guest after guest staying in your houseIf you let your house and the furniture and the furnishings fall into a state of decay, what originally started as a big moneymaker will instead become a constant source of guest complaints and bad reviews and headaches and sleepless nights (for you & your guests!)