March 11, 2020The situation with COVID-19 (“Coronavirus”) continues to evolve and markets are down sharply for a second straight week.

I would go back to seller and see if can get a $25k discount. 

BRRRR has emerged as a viable strategy for purchasing properties that need renovation at a discount, renovating them and then either keeping them and making money on the cash flow or selling them and making money on the difference between the new appraised value which hopefully is the sales price and the old purchase price/renovation amount and extremely important, the carrying costs.Ultimately, it's a math problem to see if you will even acquire the property and hopefully nothing goes south that you didn't anticipate.Assembling your team of professionals to help you be a success at this is crucial. 

The only “discounted payoff” they would have considered would be a short sale from, and involving, the original borrower....a short sale is not possible now.This will go to auction without any discussions with you.  

I have zero desire to go to Disney land or world, but I don't have kids and I'd be surprised if they aren't crowded within months of re-opening, I'm not sure they'll even offer discounts.

The wires come straight out of the wall.

Any referral that the sellers may send your way are going to come in to it expecting for them to get a discount as well because their friends told them what you had offered them.

I’d appreciate the ability to offer people a credit towards a future stay before they can straight up cancel.

Here's the applicable law, taken straight from Maine Legislature, Maine Revised Laws, Title 32, Chapter 114: §13003.

It is also a perfect time to convert USD to local currency and pay my contractors for the rest of the project at this discounted price.