It really boils down to demand.

In fact, the market continued a blistering climb over 2019 stats.Median Price 🔺 14% to $415,000Months of Inventory 🔻 .5 months to 1.2 monthsDays on Market 🔻 13 daysWe may not see the full impact of coronavirus until this summer, but as long as Austin has a housing shortage, super-high demand, and low mortgage rates, the real estate market continues to show strength. 

It’s a 3-1 house in Missouri (I know 3-1s are tough to sell J Scott).Paid $19K in cash needs about $35K in rehab with an ARV of $130K.Amid the coronavirus with unemployment going up and demand going down I know it’s not an ideal time to be flipping, but I feel a house for $60K is hard to lose on.

Most will just convert to a long term rental if/when possible and those that have enough in their emergency fund are going to let those others convert to LTR and help reduce supply and then hopefully benefit when the demand comes back. 

The market is showing no signs of a “crash and burn” 2008 scenario here but rather a pent up demand for housing as we wait for the economy to return to normalcy.

Demand had been going up, consistent rent increases, compressing cap rates and price appreciation, tax benefits, and depreciation.

Mammoth Lakes (big ski town) shut down a week or two ago, banning STR and demanding that any and all non-locals go home and for no one to come up, to try and stave off the COVID spread.

The bank refuses to support the firing of the GC and the GC and his lawyer keep dragging their feet on demands and have not provided a date yet on when they will be back at work. 

All that matters is supply vs. demand.

@Josh Smith have you done any diligence or feasibility studies on if there is solid demand for it?