Atwater, CA · Member since 2018 · 1 post · 0 votes
We looked at an REO earlier this week. My fiancé and I previewed the property determined it needed light rehab, flooring and paint, ran the numbers, and they worked for us. It would cash flow but we ultimately decided not to purchase this deal for fear of not being able to rent it with the "renter pool" being laid off and not having the stable income we'd want in a renter. In addition to not being able to evict for non-payment and not knowing how long this COVID-19 craziness will take to pass and get back on track, or if this will trigger the pullback everyone keeps waiting for. Are we wrong? Is anyone else not pulling the trigger for the same reason(s)?
i pulled the trigger and closed on the 23rd on a 4 unit.. it was my birthday present to my self. the way i look at it is if you have reserves set up and you find a good deal go for it. best time to buy is always now. markets go up and down for all we know this will pass in 2 weeks or last for ever. it helps that when you close you normally have a month or 2 before your first payment is due.