{"id":6178,"date":"2020-05-15T04:00:00","date_gmt":"2020-05-15T11:00:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=125439"},"modified":"2020-05-15T04:00:00","modified_gmt":"2020-05-15T11:00:00","slug":"biggerpockets-podcast-382-5-surviving-when-the-brrrr-hits-the-fan-with-josiah-smelser-part-2-post-coronavirus","status":"publish","type":"post","link":"https:\/\/www.jerrybice.com\/wordpress\/biggerpockets-podcast-382-5-surviving-when-the-brrrr-hits-the-fan-with-josiah-smelser-part-2-post-coronavirus\/","title":{"rendered":"BiggerPockets Podcast 382.5: Surviving When the BRRRR Hits the Fan with Josiah Smelser (Part 2, Post-Coronavirus)"},"content":{"rendered":"<p>What happens to a no-money-down BRRRR investor when a pandemic breaks out, lending standards suddenly tighten, private money lenders get skittish, and property values quickly drop?<\/p>\n<p>Today, Josiah Smelser returns to the show and tells all.<\/p>\n<p>In Part 1 yesterday, we learned how Josiah built a $4M portfolio by buying, renovating, renting, refinancing, and repeating using both hard money and private money.<\/p>\n<p>Coronavirus hit him hard. And if he didn&#8217;t have cash reserves, credit options, and the right mindset, it might have totally wiped him out.<\/p>\n<p>When the virus hit, Josiah had 10 properties he needed to refinance. It was a perfect storm: His private money lender immediately pulled funds, his refinance bank changed their terms, and property values dropped\u00e2\u20ac\u201dall at once\u00e2\u20ac\u201dmeaning he would need to bring way more cash to the table.<\/p>\n<p>What happened next? Listen to this episode to learn about how Josiah made it through the nightmare and came out on the other side&#8230; with more equity and reduced interest payments.<\/p>\n<p>Real estate investing isn&#8217;t all sunshine and rainbows. But if you keep your mind right, plan your exit strategies, and maintain cash and credit lines, you too can survive the curveballs thrown your way.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What happens to a no-money-down BRRRR investor when a pandemic breaks out, lending standards suddenly tighten, private money lenders get skittish, and property values quickly drop?<\/p>\n<p>Today, Josiah Smelser returns to the show and tells all.<\/p>\n<p>In Part 1 ye&#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[2301],"tags":[],"_links":{"self":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6178"}],"collection":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/comments?post=6178"}],"version-history":[{"count":2,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6178\/revisions"}],"predecessor-version":[{"id":6179,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6178\/revisions\/6179"}],"wp:attachment":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/media?parent=6178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/categories?post=6178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/tags?post=6178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}