To be empathic or not to be?

Question

My husband and I are very new to the Real Estate investing business. We have yet to close and seal a deal.  Unlike him, I feel as even with what’s going on with the COVID-19 we should still be persistent. I guess it’s his moral compass that tells him that it’s vulture like. Is it wrong for me to want to still conduct business as usual? I already have ideas to protect our health and others. There many ways to conduct real estate moving parts with out all personal interaction in a safe way. Should we wait and possible miss-out on opportunities or push forward?

Will G. · Answer

The world has changed. If you think this won't effect real estate, i contend you are mistaken. Everything is getting sold off right now, stocks , gold , bitcoin, bonds, and the dollar is soaring!!!! we are in a big deflationary event right now, which means lots of downward pressure on housing(price wise), Stay tuned

Mike McCarthy · Answer

@Melissa L Holloway why would it be morally questionable to buy a house at market rates?

Unless your specifically targeting old folks in the hospital, just keep doing what you’re doing. People still want to sell/buy, and at least at this point, I can’t imagine anyone is selling their house cheap just because of the virus.

Keep going and good luck!

Mike Cumbie · Answer

Personally I still have retail buyers going out and seeing properties. Husband and wife meeting after work and sellers moving their dogs out of the house to show. If someone was desperate to sell/buy last Thursday you are not taking advantage on Wednesday of this week. People haven't even missed a paycheck yet. If someone is truly in need of selling their home are you more compassionate in buying it or stepping back and waiting?

just my 2 cents and good luck on whatever you two decide.

Evan Polaski · Answer

@Melissa L Holloway, I am not of the perception the world is coming to an end.  As mentioned, if you are intentionally trying to take advantage of someone or a group, okay that may be a little morally unjust.  But if you are simply moving forward with fair offers to a willing seller, that is not morally corrupt.

What I would be more concerned about is whether you think you can get a good deal now, or if having cash aside for the next few months will yield better results?  I am operating business as usual, but the goal of investing is to grow your assets, and if you think better opportunities are only a short distance down the road, maybe hold off.

Melissa L Holloway · Answer

Thanks for the perspectives. We will push forward. Good Luck to you all!

Marc Winter · Answer

@Melissa L Holloway, this is not business as usual.  The world is at war.  Nothing will be the same for the next few weeks or months.  We must change mindsets because we are not in Kansas anymore.  Life goes on; just differently.  Adjust and enjoy and take it day by day.

Oh, remember to wash your hands, lol.

To be empathic or not to be?

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