Likely.
March 12, the day before the bottom, I came out with relevant solid perspectives for hosts gleaned from nearly three decades in business and investing. My post was attacked by inexperienced responses and subsequently locked because it didn’t fit the corona panic narrative that chicken little insists all must adopt, lest the sky fall!
As we enter the next bull market Monday, we do so with the clock at zero on a brand spankin’ new bull market. No more can bears claim “the longest running bull market must collapse!” Its done, we had the reset. Thursday’s and Friday’s short sellers who didn’t cover yet missed the boat, it’s too late. Some of those may actually be part of a nice recovery as margin requirements force covering. The average citizen won’t recognize that the worst is actually over already, because the “news” won’t be properly reporting events for several weeks.
True to my own advice, I made some acquisitions, hope you did too. The time to invest and expand is NOW! Leverage can be your best friend or worst enemy. Over leveraged entities with insufficient liquidity to float empty inventory will be forced to discount rates to survive and/or shed listings. Great travel rates for a time! It’s also our opportunity as hosts to pick up the slack ahead of a booming finish to 2020
Good practices are the same for managing one bed room or 1,000 properties. Invest now in improving whatever is under your control. For the US, Cheap gas, lower taxes, lower interest rates, more discretionary funds, “cabin fever”, and possible reduced inventory from over leveraged players, all add up to unprecedented demand for 2H 2020. Prepare now, make improvements, identify maintenance issues. Treat your listing as if it were a car you were about to drive across the country in; you’d fix everything broken and anything that could break so that it doesn’t let you down when you need it most.
