Wholesaling Properties In The Fast Evolving New Normal
How do real estate wholesalers need to be adapting to doing business in the new normal?
The market is better for real estate investors than it has ever been. Though things are undeniably different now. Some things may still be the same. Though the COVID lockdowns and new rules have certainly changed the way we live for at least another generation, and the way we work forever.
Between new data showing that Moderna now admits those who got its vaccine last year are now twice as likely to get COVID this year, and teens as much as 6x more likely to end up in the hospital with heart conditions as a side effect of the virus, compared to getting COVID, don’t expect us to go back to the old normal any time soon. Even more so with new coronavirus variants which are expected to be more contagious and vaccine-proof.
The New Normal
Although things will continue to evolve, now that we have begun settling into the new normal, we are getting clarity on some of the ways life has changed.
We now have:
Ongoing foreclosure and eviction bans
Ongoing stimulus
High inflation
Rising taxes
Almost exclusive work from home
Enhanced wealth distribution measures
Strict travel and access rules
So, what does it all mean for investors?
The Divided States of America
The country is now significantly divided by COVID related rules.
Insure My Trip recently published a state by state list of rules, including ongoing inter-state limitations and quarantine and testing rules.
Dr. Fauci has even supported mandatory vaccination for domestic air travel in recent days. If passed, that could easily apply to all types of travel between states.
Some states and cities are strict, only allowing those vaccinated to eat out and enjoy entertainment outside of their homes. Even dictating mandatory vaccines to keep businesses open. Others are completely free, with no restrictions at all.
The outlook seems to be far more divided.
For investors it may be wise to begin finding more in-state buyers. Out of state buyers may become more cautious. Or you may wish to focus on a different set of buyers. Those who are exempt from the rules, and travel restrictions. Think celebrities, politicians and the uber wealthy.
Health Protocols
Stay stocked up if you want to stay in business. If you want to be networking, hosting showings, etc., be sure you have plenty of masks, sanitizer and cleaning supplies. Hoarding is bad. Being prepared is smart.
The Nomadic New Norm
Since the onset of the pandemic lockdowns we saw places like Manhattan lose 40% of their population. People started moving back last year after landlords offered cheap rental deals. Now those landlords are asking 70% or more for lease renewals, and many may leave again. Especially, as people give up hope of ever returning to the office again.
Except more of this back and forth migration as people look for housing deals and find the right balance in living conditions.
In Demand Features
What people want in housing is changing too. Priorities may now be on amenities like home delivery, fast Wifi, and more space.
Top Funding News
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