How bad will a second lockdown be?  Well in this video I am going to unpack some of the ramifications of what a second lockdown will do to real estate investors, small business owners, and the economy of America.  Will we actually see another stimulus package this time if we go into a second lockdown?  President-elect Joe Biden has already assembled a Covid-19 task force and the members already have expressed their interest in another 4-6 week lockdown.  Many countries in Europe have already planned on having a second lockdown to mitigate risk from the second wave of coronavirus.  What are we looking at getting ourselves into if the US goes into a second lockdown? 

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0:00 Intro
0:40 Joe Biden's COVID-19 Task Force's thoughts
1:25 What can we expect from a second lockdown?
2:43 Repercussions of closing businesses for good
3:30 Mandatory quarantine for travelers
5:30 Fines if you violate quarantine rules?
6:04 Overall thoughts about a second lockdown

With many of the European countries looking to conduct another 4-6 week second lockdown, President-elect Joe Biden's coronavirus task force has been hinting at another lockdown to mitigate risk from the second wave.  In fact, one of the main virologists on the task force has expressed his concern with a second wave and covid cases sky-rocketing, so he is suggesting another 4-6 week lockdown.  What will that do to landlords, small businesses, and Americans who are self-reliant in regards to income?  As we all saw from the first lockdown earlier this year, many businesses literally closed and never opened again.  It really hurt many small business owners and landlords who may have been struggling already.  

This second lockdown may really affect the housing market and rental units because of the loss of business, and the people who are employed by these businesses.  The people employed by these small businesses pay rent to landlords who own buildings and would not be able to pay their mortgages on their properties, causing many landlords to default on their loans.   

Another aspect of a second lockdown would affect world travelers.  In South Korea (where I am from) travelers coming from outside the country MUST spend 14 days in quarantine in a government facility.  They can NOT leave the room for any reason until the 14 days are up.  Meals and facilities are provided but how hard do you think it would be to keep Americans locked up?  I'd say pretty hard, we love our freedom.  

Lastly, will we see something similar to European countries where massive fines will be issued if quarantine orders are violated?  The UK has already told its citizens that if they are caught, they could be looking at fines over $10,000.  Do you think that is fair?  

Let us know what you think down in the comment section if you think we should have a second lockdown?  Our President-Elect Joe Biden seems to think so with what the coronavirus task force has said.  Hopefully not for the sake of small business owners & landlords.

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---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc., and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.