The Corona Virus and Las Vegas

This Corona Virus panic is PROBABLY the event we have been waiting for. The Corona virus has millions panicked.  Lemmings are going off the cliff to buy water and toilet paper. Neither of which will help them in a pandemic. People are cancelling their travel plans and holing up in their living room to watch the news which is adding fuel to the fire. Our short term rentals are getting cancellations and yesterday an approved tenant didn’t sign a lease because their boss freaked out. These types of behaviors will trigger an avalanche of restricted purchasing and will rip through every business in America. People will lose their jobs, mortgages will stop getting paid and the inflated real estate bubble will finally burst.

Don’t get me wrong. I am sympathetic to those who are suffering. However, the Corona virus is peanuts compared to people who die daily from suicide, murder, cancer, lightning, sugar…  There will always be suffering. When I get this virus, I will hole up to protect others and read several books on my list. I have not been sick in nearly a decade so it’s about time I suffered.

If you are thinking about selling, you may have missed the boat. I predict prices will flatline for the next 2 weeks and then start to fall.

Now what? Save your money to weather this storm and wait some more. This event will probably take a year to shake out and for real estate prices to hit a new bottom. In the meantime, the stock market looks really attractive. I’m not an expert on stocks and the least qualified to give anyone advice on what to invest in. I rely on professionals to tell me what to buy and you should too. In the meantime, I will continue drinking beer, traveling the world and living a normal life.

Rents

We normally recommend increasing them to approach market conditions. In this environment, this is a bad time to increase them. Your tenant may lose their job in the near future and you don’t want to encourage them to look around. Each of our investors will get personal attention and our property managers will discuss each case individually.

Staff

It’s business as usual for us. Our team work has been working from home since we started over a decade ago. Even if all our staff got the virus, you would not witness any disruption. We have been lounging around in our pajamas for years! lol

It has been a while since my last newsletter so here is our current team of rockstars.


Barb Eagan (Vice President)

Agent /Broker License #0002593

Property Manager License #162776

(702) 759-9724 / barb@mycactusproperties.com


 Sylvia Mendoza (Spanish Speaking)

Agent License #0174615

Property Manager License #166739

(702) 817-5705 / silvialvhomes@gmail.com


Leah Bromley 

 Agent License #0069444

Property Manager License #167116

(702) 985-8970 / leahbromley@cox.net


Robert Kinniburgh

 Agent License #64017

Property Manager License #167687

(702) 818-9977 / rkinniburgh@gmail.com


Crystal Walker

Agent License #64017

Property Manager License #167687

(702) 818-9977 / rkinniburgh@gmail.com

_


Joy McJoy

Agent License #64017

Property Manager License #167344

‭(702) 716-4138‬ / joyinrealty@gmail.com


Anna Spears

Jim’s Assistant

‭(702) 305-5466‬

annanspears@gmail.com


Barb Toft aka “Toft”

Maintenance

Provisional CAM License #9357

(702) 340-4732 / barb.toft.bt@gmail.com


Liza Wenger

Bookkeeping

‭(702) 768-5722‬ / liza1468@hotmail.com


Corrie Morvari

Bookkeeping

(702) 610-9265‬

corriem@reliablebookkeeper.net


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