I hope everyone is staying safe and healthy! There have been a lot of responses to this question on a national level, but i wanted to hear from investors in the Spokane area, specifically. Has your strategy changed at all in the past month+ ? Has your outlook on the Spokane market changed at all? Are you pumping the brakes on any current deals or continuing onward? How has rent collection been? Worried about any specific property or property type in your portfolio?
Personally, I am moving forward with a cash-out refinance on a duplex that I started at the beginning of March (appraisal has been delaaaayed). Further leveraging makes me slightly wary currently, but the added cash flow through the new rate and investing capital that I'm freeing up fits my overall strategy. Additionally, now more than ever, I'm looking to connect with local investors and build up my foundation to be ready to capitalize on future opportunities. So, if we have not had a chance to meet or chat before, let's connect (message, phone call, zoom coffee).
Looking forward to seeing some responses on this topic!
make sure your rate lock on the refi isnt endangered by appraisal delay ......some lenders allowing ext only appraisal on investment properties
Thanks, Dave. It's an owner occupied duplex and I've been working closely with my lender throughout the process to ensure my rate is locked in.