Attorney · Los Angeles, CA · Member since 2015 · 65 posts · 51 votes
Hi all - happy holidays.
I closed on my first investment property in September. A SFR in Cleveland. so far it's going pretty well. I am trying to gauge the market as best as possible (obviously we don't have a crystal ball). But I am looking to see what others think about searching and buying now versus waiting until after Biden comes into office. Property values could rise after his inauguration as people become more hopeful of a stimulus bill, a more calm administration, etc. but we are also looking at the possibility of looming foreclosures at the end of the year if no deals are reached etc.
Open to all thoughts (no political debates, please haha). Thanks all.
I just keep looking for deals and buy when the numbers make sense that way even if the market "crashes" I still have a good amount of buffer. Also market crashes may impact certain areas more than others so there is that aspect as well.
If the market crashes I'll just buy more stocks & property.
I just keep looking for deals and buy when the numbers make sense that way even if the market "crashes" I still have a good amount of buffer. Also market crashes may impact certain areas more than others so there is that aspect as well.
If the market crashes I'll just buy more stocks & property.
Real Estate Consultant · Greenville, SC · Member since 2015 · 45 posts · 35 votes
5y
There's a lot more at play than who is calling the White House home. And, as always, location, location, location. We know people are moving around in big numbers. You need to know where they are leaving and where they are going. Who is going to go from being a homeowner to a renter? Will the Gov't interfere with rent collection? What are prop taxes going to look like in your state? Fortunately, I own a crystal ball.....
Rental Property Investor · Rome, GA · Member since 2016 · 12 posts · 3 votes
5y
@Kellan Martz
I personally invest for the long term. I’ve owned rental property through 5 different administrations. It is important to pay attention to policies that might adversely effect real estate investors but at the end of the day, it’s the deal that matters and not who is sitting in the White House.
Investor · Saint Paul, MN · Member since 2015 · 663 posts · 512 votes
5y
@Kellan Martz
Was able to sell our lake property for a good value during the Trump era. Also our stock portfolio has never looked better in the history of the United States so that’s pretty good. I hope Biden doesn’t screw that up.
Haven't bought in a couple years. But when did I spent a lot of time looking for comparables on Zillow that were rentals and had price rental history going back to 2008. If I could pay the mortgage at 2008-2011 level rent then the deal seemed little risk.
The risk with Biden - 6 million not paying rent he will extend the rent moratorium. His 1st eleven days in office, he is not going to put them out in the cold. When does it end?