Real Estate Agent · Surf City, NC · Member since 2017 · 648 posts · 597 votes
6y
I am continuing to buy properties and help others do the same. Most investors that I am working with are targeting the B-C class neighborhoods and house hack properties. I just closed on our latest house hack deal a month ago and couldn't be happier!
I also stopped watching the news a few months ago which has helped a lot with my sanity haha
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
6y
In August, I noticed that my rent collections were less stable than previous months. None defaulting but some new late payers. My local leasing market is soft. People are not moving. My City has had some turmoil.
I am not deterred but there are not a lot of deals that are attractive these days. Interest rates are propping the market up, but that doesn't move me at all.
I have bought this year - selective value add type properties that are low risk to be hurt in an economic downturn. But this year is not one of acquisition growth. Some buyers are awaiting an elusive market crash, thinking that 2008 is coming again. I do not know, but if it is bargain time, it will be buying time.
Investor · Fort Myers, FL · Member since 2015 · 292 posts · 278 votes
6y
Just closed on a flip on Monday. We have 4 underway at the moment. Prices continue to rise here in Florida, listings are getting gobbled up as soon as they go on the market. There is an end to this, but if you can predict it you have no need to invest in houses. Good luck to everyone.
Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
6y
@Paul DeSilva >>>This guy<<< as long as the numbers makes sense. Closing on a property this month that is a total junker but homes around it are worth $800k more. It’ll rent for $5,000/month and cash flow $2,500/month once it’s rehabbed.
Los Angeles, CA · Member since 2016 · 14 posts · 9 votes
6y
@Paul DeSilva yes! In escrow now and planning a few more by end of the year. For us it’s just about finding deeper deals in the right market. So far so successful but being hyper aware of everything in flux.
In August, I noticed that my rent collections were less stable than previous months. None defaulting but some new late payers. My local leasing market is soft. People are not moving. My City has had some turmoil.
I am not deterred but there are not a lot of deals that are attractive these days. Interest rates are propping the market up, but that doesn't move me at all.
I have bought this year - selective value add type properties that are low risk to be hurt in an economic downturn. But this year is not one of acquisition growth. Some buyers are awaiting an elusive market crash, thinking that 2008 is coming again. I do not know, but if it is bargain time, it will be buying time.
I think that every market nationwide has been affected differently. I personally do not think that this will be 2008 all over again the metrics are totally different. We love a good bargain!
@Paul DeSilva buying section 8 rentals and STRs that are within driving distance to Dallas.
We are looking at moving some of our rentals into section 8 style rentals. We do not have any STR's and are not focusing on that niche right now. We have been looking in East Texas lately and think if we do an out of state deal that is where we will start once we build a team.
@Paul DeSilva My wood shutter business is way down due to a national lumber shortage too, hoping for a new supply by spring.
Sorry to hear that. We have been having big problems getting building materials and just read an article that prices of building materials are up 60% nationwide, this is one of the many reasons that we are not looking at any flips for the foreseeable future.
Investor · New York, NY · Member since 2017 · 148 posts · 252 votes
6y
@Scott Gadea Congrats! We are strictly multi family right now but have been thinking about picking up a few SFH's just for diversity and liquidity. We are also long haul investors!
Investor · Fort Myers, FL · Member since 2015 · 292 posts · 278 votes
6y
@Paul DeSilva building materials are mostly steady, but shortage of appliances and lack of selection is increasing the quality were using and cost of course.
@Paul DeSilva building materials are mostly steady, but shortage of appliances and lack of selection is increasing the quality were using and cost of course.
It is insane up here also. No inventory in most departments. We had to drive over an hour and pass 3 big box and several smaller home improvement stores just for a 40 gal hot water heater 2 weeks ago. Pressure treated wood is non existent. All stores are sold out until November, my go to contractors are booked out 6 months. I have never seen these kind of shortages and so many people doing home improvements/renovations in my career. I have been trying to replace the fence on a property that we are selling and 3 fence contractors said that they cannot get here until after New Years. Crazy times we are living in!
Still buying. Even if it goes down, so be it, I will buy when it goes down and I will buy it when it goes up. The average is find for me. I am not trying to time the market.
@Sean McDonnell what do you mean by help others? Like give advise? Because I'm actually looking to do a house back right now but have so many questions.
Real Estate Agent · Dallas, TX · Member since 2020 · 28 posts · 28 votes
6y
Interesting thread. Seems most investors (and owner-occupants) are still buying. Caution should ALWAYS be a key to success - after all, investing is all about managing the inherent risks. In my area (Dallas TX and suburbs) we, too, are experiencing rapid growth (before and during COVID) and will continue as a prime destination location for people and businesses. Collin County to the north of Dallas County has frequently been among the fastest growing areas in the U.S. A safe, long-term play many investors are using in turbulent times is new construction in select locations, price points, and with the right rental-ready features. I bought a condo mid-COVID and am just finishing the rehab. I also found a good new construction opportunity yesterday that is available to investors. If interested msg or DM me for details...
Investor · Southlake, TX · Member since 2016 · 20 posts · 15 votes
6y
I'm in DFW area; if it's a deal I'm still buying. I do a super diligent background check to make sure that they can afford the property. I'm grateful that all my tenants are still paying.
Rental Property Investor · Houston, TX · Member since 2019 · 212 posts · 149 votes
6y
Im closing on a 4plex in Cincinnati, OH in a class A+ area on Sept 14 soon. Then, I'll find a primary residence in TX or FL, where I currently buy & flip notes.