Thank you for all the calls, texts, and emails asking for my opinion of what’s next for real estate (specifically MHPs) during this crazy time. I’m humbled folks respect my opinion. I figure I leave my thoughts here too:

When will the prices come down?

-Too many investors are itching, in spite of the fear, for deals and prices to drop. That, to me, means the demand for properties hasn’t been affected yet. Prices are likely to stay high until...

-Desperation. Right now, we are in the fear / anxiety stage. The economy will really take a hit when the checks start to bounce and bills go unpaid

-And that’s why: #CashIsKing -If you have money set aside for bills (and reinvestment), you will be primed to survive and to thrive

Should you consider other asset classes?

-Maybe. But the deals to come likely will be heavy value add

-Why sell a strong property during an uncertain time?

-So I’m focusing on what I specialize in

When should we expect a price adjustment?

-Not for a while. Possibly years.

-Talk to folks who survived and thrived after 2008

-It took years for properties to hit the market and even then, the deals were all value add

Best of luck everyone. As always, if Ian Tudor and I can help, let us know!

#MHP_IRL #MHP #RealEstate