Buying, Waiting - Covid?

Question

Real Estate is holding strong. Are you bullish?

Are you buying or waiting?

How long will you wait and how will you determine that now is the time to buy or continue to wait?

Marlen Weber · Answer

I think it's safe to say that if it's a good deal and the numbers make sense for you, take up the opportunity regardless on COVID-19. The current state we are in will pass. If coming across a deal that will help grow your portfolio and lines up with your goals, go for it.

Marysa Diadelfo · Answer

I was about to respond to a counter offer i had made when all this went a little nuts. I backed out. I am a brand new investor and I worry that with people out of work and inability to kick out tenants i would be stuck keeping it afloat alone. I also assume the banks would be granting existing owners options to defer mortgages but unlikely the same would apply to people with new mortgages. I am form Montreal and there have been reports in a possible 20% drop in prices in my area. I am not counting on that but i do feel it would be best to wait out the 6 month mortgage deferral period as that will be when people will begin either selling or losing their homes if they are still in a bad situation. We were in a major sellers market with properties selling within the first days well over asking. I think this will shift. Also with the high possibility of a 2nd wave in the fall disrupting the economy again, i think we will see further drops. Im giving it till at least Oct or Nov to see where things stand and will take it from there.

Aigo Pyles · Answer

@Vikas Grover

It's a good time to buy.

Marcus Auerbach · Answer

There was a concern in March about rent colections, but rents came in fine for the most part. The market is hotter than ever, any listing we have goes fast with multiple offers. Everyone thought the market would crash like 2008, but what actually happens is that we have a corona induced shortage of inventory, while buyers came back quickly after a few weeks.

Pat L. · Answer

It maybe on it's way back...but we're still buying!!!

https://apnews.com/54374ff841d...

Buying, Waiting - Covid?

Most Popular Reply