Tough COVID rules have created one of the most significant migrations of the US population and commerce we’ve ever seen. If those restrictions and mandates are rolled back, will it be enough to halt or even reverse these real estate trends?
Florida, Texas, and Tennessee have been some of the biggest beneficiaries of this activity, as well as other southern states. Now the biggest losers of residents and businesses are talking about relaxing some mask mandates in some of the toughest cities and states. Will it make a difference?
Pausing Mask Mandates
California, New York and Illinois are some of those that have driven away the most residents, property owners and businesses over the past couple of years. Now they seem to be coordinating on allowing some mask mandates, for some people, in some situations to expire.
This may be directly in contradiction to the current advice and guidelines from WHO and the CDC. Though they are really still just now catching up with most of the rest of the country which has not enforced masks.
Governors in these states may finally be feeling the pain of losing voters, tax revenues, businesses and investment dollars.
Will It Last?
This is an important question to ask. How long this pause will last may make a big difference in real estate trends and related capital flows.
The latest data from the CDC and WHO shows that the best face masks may offer even more protection from infection and transmission of the omicron variant of COVID, than the protection many have from their vaccine shots. In fact, some may argue that simply letting the vaccinated go maskless may be a major driver of the recent huge spike in COVID cases and deaths.
If that is accurate, any relaxing of COVID rules may not last very long at all. Don’t get caught changing your real estate investing business plan, only for it to be shut down again.
It is also worth considering all of the motivation and dollars to keep this crisis, or a similar one going. Pharma and tech companies stand to lose tens and even hundreds of billions of dollars in value, profit and cash flow if COVID is over. Pfizer alone found investors weren’t happy and its stock sliding when it recently announced it may only make $54B from vaccine shots and pills this year. CVS has also forecast its COVID testing business and shot administration may fall by 40% to 80% this year.
Migration: Will It Change?
Some may realize they want to go home after this news. Fewer may feel the same urgency to leave their home states if rules are being relaxed. Though much more of their decision may be resting on vaccine mandates and passports and living costs.
Many have moved, and realize they’ve been missing out on better life and better financial dynamics.
Others will never forget how they were victimized, were not allowed to see family members in the hospital, and their businesses were broken. They won’t go back. Though it is true that in this generation we also suffer from severe memory loss and short sightedness, and some may quickly forget the past couple of years.
Summary
A rollback of mask mandates may moderate and slow the recent tidal wave of migration between states. Still, affordability will be a big driver of movers. Especially with extreme inflation at work. These changes may not last either.
In conclusion, it may still pay to be diversified between these types of states with varying approaches to rules to keep up your real estate deal flow and profits.
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA