398: The Virus – What Can We Do?

SHOW NOTES FOR EPISODE 398: THE VIRUS – WHAT CAN WE DO?

While many people are fearful and feeling helpless in the shadow of the coronavirus pandemic, others have decided to combat the virus individually.  In today’s podcast, Bill examines the impact of the virus on real estate investing as well as citing specific things you can do to combat the virus on your own and with others.

How the Virus May Impact Real Estate Investing

• Coronavirus/Covid 19 and real estate investing
  • Too early to judge the impact – Maybe after Q1 & Q2
  • A lot has to do with the virus impact on the economy and how long it lasts
  • History has shown that once the virus is contained, it only tales 1 or 2 quarters to stabilize
  • Housing may be more resilient but student & senior housing may have stronger impact
  • Retail, especially associated with tourism may be more profoundly impacted
  • Global recession? Possibly and could be opportunities in the short run
  • Smartest to focus on diversification
• AirBNB Vulnerability
  • Corona Virus
  • Not just for vacations
    • Sports events
    • Conferences
    • Concerts
    • GenCon
  • Only two cancellations so far

What Can We Do?

• People want to know how the virus will impact REI
• People also want to know about opportunity
• There are great opportunities you can take advantage of today
  • Value your time with family as you’re home from work and your kids are home from school
  • Use the time to connect will friends and family
  • Board games with family
  • Watch an edifying movie together
  • Check on older people you may know who may need help, groceries, pick up meds, etc
  • Don’t get hooked on 24-hour news- check once in a while but use this time to connect with and encourage others – put news alerts on your phone
  • If you are a landlord, how are your tenants?
    • The elderly
    • Those whose jobs are being threatened
    • How can you help?
      • Set up your own food bank to help your tenants
      • Try to get hard to acquire items for your tenants (toilet paper, hand sanitizer, etc.)
  • Here’s a few more opportunities
    • A dear friend and fellow missionary, Alicia and her husband Lucas, a young married couple who served along with us in Haiti who now lives in Southern California, totally touched my heart. Combating fear, anxiety and uncertainty with love.
      • With three young children in tow and pregnant with her forth, Alicia walked door-to-door in her neighborhood handing out rolls of toilet paper
      • When she shared, she was crying because she felt she wasn’t doing enough

10 Proactive Things You Can Do to Combat the Virus

1. Ship badly needed medical supplies to where they’re needed most

Samaritan’s Purse is airlifting equipment and medical specialists to care for people near Milan, Italy, the current epicenter of the coronavirus pandemic.  They recently airlifted a 68-bed Emergency Field Hospital to Milan, Italy, to provide care for those sickened by the COVID-19 pandemic.

Also, the humanitarian relief group Direct Relief has been delivering personal protective equipment including masks, gloves and gowns to China since January. Last week, it shipped oxygen concentrators to China, said Direct Relief spokesman Tony Morain. They’re devices that coronavirus patients can use to help them breathe at home, rather than being hooked up to a ventilator at a hospital. They’re needed because hospital beds are in short supply in China, Morain said.

China is about six weeks ahead of where the U.S. is, Morain said. While communal transmission has slowed, there are still recovering coronavirus patients who need help breathing. Direct Relief recently bought about 500 oxygen concentrators for U.S. patients, and it’s committed $2 million to help nonprofit community health centers in the U.S. prepare for the outbreak.

“Everyone is a responder in this crisis, in one way or another, whether it’s protecting their family or themselves,” Morain said. “In the worst of times, we see the best of people.

2. Volunteer with Meals on Wheels

Meals on Wheels, which delivers meals to older people who can’t leave their homes, says it’s anticipating increased demand during the outbreak. Seniors are especially susceptible to the novel coronavirus, and health officials are recommending people over age 60 to take extra precautions, which can include staying home. However, that isolation can have damaging effects long term, and Meals on Wheels provides critical social interaction for many of its clients.

Some Meals on Wheels chapters are looking for healthy volunteers who can be on call to make deliveries during the coronavirus outbreak. Many chapters also keep in touch with seniors at a distance through “telephone reassurance” programs. To volunteer in your area, find your local Meals on Wheels provider here.

3. Give to organizations helping with medical costs

The HealthWell Foundation is one nonprofit organization that provides financial assistance to help with prescription co-pays, health insurance premiums, deductibles and coinsurance.

GlobalGiving has a coronavirus relief fund that you can donate to as well. Donations go towards medical supplies, delivering essential items to struggling families and older individuals in quarantined cities, feeding children that rely on school meals and more.

4. Support your local food bank

Americans are emptying stores shelves of non-perishables as they brace for the possibility of having to self-isolate. The stockpiling has been so intense that some food banks have seen significant decreases in donations from retail grocery stores, said Kathryn Strickland, chief network officer at Feeding America, a network of 200 food banks and 60,000 food pantries and meal programs nationwide. Feeding America has set up a COVID-19 response fund, and is working to build an inventory of emergency food boxes to distribute to food banks as the need arises.

The Salvation Army is also helping with providing food, supplies and services for those affected by the crisis.

“There are still ways you can support the food bank while not physically at the food bank — you can donate online, raise awareness by sharing food bank messaging on social media, and advocate for support at the federal level,” Strickland said.

5. Donate blood

The American Red Cross is urging healthy people who are feeling well to donate blood or platelets.

“As fears of the coronavirus rise, low donor participation could harm blood availability at hospitals, and the last thing a patient should worry about is whether lifesaving blood will be on the shelf when they need it most,” said Chris Hrouda, president of Red Cross Blood Services. There’s no evidence that this novel coronavirus can be transmitted through blood transfusions, according to the Red Cross. Find a donation site or blood drive near you here.

6. Help people experiencing homelessness

People without homes face a significant risk from the novel coronavirus, said Rick Brown, spokesman for the National Health Care for the Homeless Council. They have poorer health in general, often suffer from sleep deprivation, and often have preexisting conditions that leave them with weakened immune systems, he said. What’s more, they’re less likely to be insured.

“Because of this, they are at significant risk — much more so than they actually are to pass COVID-19 to people with healthy immune systems, like many people with housing,” Brown said.

He recommended contacting your local homeless shelters and homeless service organizations to find out what they need most now. The National Coalition for the Homeless has called for cities to provide hand-washing stations for people in homeless encampments during the pandemic, and recommended that all coronavirus testing and treatment be free for all.

7. Help your neighbors: Groceries, babysitting, video calls

If you’ve got elderly neighbors who can’t make it to the store, check on them regularly by calling, video chatting or sending a text. Offer to pick up groceries and other supplies and offer to bring them meals several times a week — you can arrange to leave them on the porch so you don’t risk spreading germs.

You can also offer to take them to doctor appointments (sanitize your car first and have them sit in the back to practice social distancing) or ask if they need you to go to the pharmacy to fill their prescriptions (they’ll need to give the pharmacist their permission).

If your neighbors have kids at home and need babysitting help due to work or appointments, consider making an offer to help, whatever that is — watching them for an hour, loaning them board games or even helping your neighbor with errands. Note that not everyone feels comfortable asking for help, so approach the subject lightly.

8. How you can help the elderly in care homes

Individuals over 60 years old and those with underlying medical conditions are at the highest risk for developing severe reactions to the COVID-19 disease. These groups are increasingly self-quarantined. Many nursing homes and other care facilities are now closed to visitors as a measure to protect the residents.

You can help alleviate loneliness with regular phone calls, video calls, video messages and text-based chats. Send photos, fun articles, puzzles, adult coloring books and other items to help keep your loved ones and neighbors feeling connected. Consider establishing an upbeat daily call.

If you don’t have a relative living in a nursing home, but would still like to help, you can send flowers, cards or other items to your local care home. Call first to see what their protocol is on outside cookie delivery and hand-drawings from kids. You can also send a letter through an organization called Love For The Elderly.

9. Take care of yourself

While helping others during the coronavirus pandemic, it’s important that you also take care of yourself. Here’s how to help kill the coronavirus in your home, how to help keep coronavirus off your phone, 10 ways to help avoid coronavirus when you have to leave the house and what you can do if you run out of toilet paper. Also, get up to speed on the most important coronavirus terms you need to know now.

10. Pray!

Pray for the many who are suffering as a result of this pandemic!  Pray for wisdom for our political leaders, doctors, scientists and all first responders!  Pray for peace and not fear.  Pray for a swift resolve and that this time be brief.

We are hard pressed on every side, but not crushed; perplexed, but not in despair; persecuted, but not abandoned; struck down, but not destroyed. – 2 Cor 4:8-9

DISCLAIMER:  Many of the above strategies take knowledge and have a higher degree of risk.  You need to do your research and/or work with someone who is experienced to reduce your risk.

IF YOU LIKED THIS PODCAST, we would love if you would go to iTunes, Stitcher, GooglePlay, iHeartRADIO and Spotify and Subscribe, Rate & Review our podcast.  This will greatly help in sharing this podcast with others seeking to learn real estate investing as aCBRE means to achieve a successful retirement.

Check out our other podcasts at olddawgsreinetwork.com.

Get a FREE copy of our 3-Minute Rental Property Analyzer at olddawgsreinetwork.com.

Additional Episode Sponsor: Meno Studio – menostudio777@gmail.com