117: Coronavirus Q&A with Scott & Mindy

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 23 March 2020

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, Scott and Mindy discuss the biggest news story of the century: Coronavirus or COVID-19. This episode covers a wide range of topics both money and real estate -- with a guest spot from Brandon Turner, who answers the number one question on every real estate investor’s mind: What do I do if my tenant(s) can’t pay rent? You'll also learn what resources are available for people whose incomes have taken a hit, and get answers to questions such as: should I continue with the purchase of a property I have under contract, and should I continue to pay down debt or take advantage of this current market? These are scary times, and it can be easy to cut and run or throw out your carefully-laid plans in favor of an instinctive reaction. So now is a good time to detach, assess your options, and chart a course forward. If you have Coronavirus fears, you’re not alone. Scott, Mindy, and the entire BiggerPockets Money Community are here to help you weather this storm. In This Episode We Cover: How to invest from a position of strength How to tackle debt during this time How to do a "financial reset" What the 4 Percent Rule is in Financial Independence Brandon's tip when tenants don't pay rent What practical things can landlord do in these times How to take advantage of the current situation List of resources for those who are out of work BiggerPockets reminders that you should consider And SO much more! Links from the Show BiggerPockets Money Podcast 116 BiggerPockets Money Facebook Group BiggerPockets Investments Calculator BiggerPockets Podcast 374 BiggerPockets Podcast 364 BiggerPockets Real Estate Podcast BiggerPockets Money Podcast 70 BiggerPockets Money Podcast 55 BiggerPockets Money Podcast 55.5 BiggerPockets Money Podcast 114 BiggerPockets Money Podcast 85 Mr. Money Mustache How The 4% Rule Holds Up A Quarter-Century Later - Forbes Real Estate Rookie COVID-19 Financial Resources: Relief To Those Impacted - iHeartBudgets 197 Emergency Financial Assistance Resources (National & by Major City) - Frugal Confessions 50 immediate hire work from home jobs near me (2020) - Mrs Daaku Studio BiggerPockets Forums The BiggerPockets Book Store Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	during your that your happiness is not going to change whatsoever,
0:12.8	but a magical thing is going to occur in your bank account
0:14.8	where you're going to start accumulating
0:16.0	a much larger surplus, right?
0:17.8	And you've heard this a million times
0:19.2	in the BiggerPockets Money Podcast.
0:20.6	How many guests have said the same things
0:22.0	that we're just talking about right now?
0:23.0	Hello, hello, and welcome to the BiggerPockets Money Podcast.
0:27.0	My name is Mindy Jensen, and with me as always is my self-quarantining co-host, Scott Trench.
0:32.0	How's it going? Scott and I are here to make... self-quarantining co-host Scott Trench.
0:33.0	How's it going?
0:34.0	Scott and I are here to make financial independence less scary, less just for somebody else and
0:38.9	show you that by following the proven steps, you can put yourself on the road to early financial freedom and
0:44.3	get money out of the way so you can lead your best life. That's right whether you
0:47.8	want to retire early and travel the world just navigate this recession this recession, the coronavirus,
0:55.0	self-quarantine, whatever it is,
0:56.7	go on to make big-time investments in assets like real estate
0:59.4	or start your own business.
1:01.2	We'll help you build a position capable of launching yourself
1:04.5	towards your dreams. But at the very least, staying afloat in a recessionary environment because
1:09.1	it's the same thing. Are you tired of spending endless hours managing your rental properties? Inago is here to simplify your life by saving you time and money with its free property management software.
	...

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