How will Coronavirus change your investing plans?

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How will Coronavirus change your investing plans?

Dave MeyerPro Member
Head of Real Estate Investing at BiggerPockets · Seattle, WA · Member since 2015 · 355 posts · 829 votes

Hey everyone -- we're trying to get a sense of what the BP community plans to do in the coming months, given the impact of coronavirus and the related economic ramifications. Could you please take 2 minutes to fill out this survey? We want to make sure we're meeting the needs of real estate investors in this changing environment, and hearing from you will help us a ton. 

https://www.surveymonkey.com/r...

Thanks! 

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Johnny McKeonPro Member
Rental Property Investor · Mesa, AZ · Member since 2016 · 103 posts · 72 votes
6y

Completed the survey.

a 4plex in the East Valley of the PHX MSA fell through contract a couple of days ago and the agent wanted me to submit an offer. I gave him the price and terms and he sent me the docs to sign but I had to decline given the uncertainty and really calculating the risks involved. I feel like I should be focusing on operating the 8 units I have efficiently by keeping my current tenants and protecting my capital and being patient


I would have been using a hard money lender (80% LTV, 10%, 1yr loan term) to acquire and then begin renovations and raising rents to market. and then do a VA cashout refinance or FHA and move into one of the units. so my risk is if the property will not hold its value or go down and I cant refinance and/or if my new tennat base will be able to afford the new rents ($950).

My gut is telling me to stay liquid and see how this plays out but there's this FOMO (fear of missing out) side that thinks this will blow over and I won't have a deal. I want another 4plex this year.

how would you guys feel about getting a property under contract right now? to pause and wait or to take action and buy?

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    6y

    Done. There's one question that is specific to first-time investors, but doesn't make much sense for us with big/bigger portfolios. The only answer I could pick that made sense was "Not sure." 

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  • Dave MeyerPro Member
    OP
    Head of Real Estate Investing at BiggerPockets · Seattle, WA · Member since 2015 · 355 posts · 829 votes
    6y

    Thanks JD -- just fixed the survey logic! 

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    1Reply
  • Chris C.
    Raleigh, NC · Member since 2017 · 347 posts · 94 votes
    6y

    When will the results be made available?

    0Reply
  • Dave MeyerPro Member
    OP
    Head of Real Estate Investing at BiggerPockets · Seattle, WA · Member since 2015 · 355 posts · 829 votes
    6y

    @Chris C. Yes! Once we get a significant amount of data, I will post the results to this forum thread. 

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    0Reply
  • Diane Dono
    Real Estate Agent · San Jose, CA · Member since 2017 · 57 posts · 35 votes
    6y

    Done!  Thank you!:-)

    0Reply
  • Haseeb M.
    Real Estate Agent · Hoffman Estates, IL · Member since 2017 · 90 posts · 68 votes
    6y

    Done!

    1Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    6y

    Done, thank you!

    0Reply
  • Sati Ah
    Member since 2020 · 5 posts · 4 votes
    6y

    Completed. Thanks for asking.

    1Reply
  • Kanwar Sodhi
    Real Estate Agent · Chantilly, VA · Member since 2016 · 245 posts · 61 votes
    6y

    Just took it, thank you @Dave Meyer

    0Reply
  • Bella Rose
    Member since 2017 · 5 posts · 0 votes
    6y

    done

    0Reply
  • John SmeltzerPro Member
    Investor · Gibsonia, PA · Member since 2017 · 45 posts · 23 votes
    6y

    Done.

    0Reply
  • Kevin Paglia
    New to Real Estate · Las Vegas NV · Member since 2020 · 90 posts · 46 votes
    6y

    Done.  

    0Reply
  • Ryan Hall
    Rental Property Investor · Tampa, FL · Member since 2019 · 74 posts · 27 votes
    6y

    Done. 

    0Reply
  • Chris SvendsenPro Member
    Front Royal, VA · Member since 2016 · 306 posts · 240 votes
    6y

    Done, look forward to the results

    0Reply
  • Britta A.
    Chapel Hill, NC · Member since 2017 · 10 posts · 5 votes
    6y

    DOne!

    0Reply
  • Moises Ulloa
    Member since 2017 · 11 posts · 0 votes
    6y

    Done!

    0Reply
  • Alfredo Vera
    Member since 2018 · 1 post · 0 votes
    6y

    Did it. Thanks!

    0Reply
  • Omua Ahonkhai
    New to Real Estate · Philadelphia, PA · Member since 2018 · 12 posts · 4 votes
    6y

    completed

    0Reply
  • Dan Bryskin
    Investor · Minneapolis, MN · Member since 2015 · 252 posts · 263 votes
    6y

    @Dave Meyer your survey won't work for people with portfolio balanced between different segments / types as each has it's own concerns / strategy.

    0Reply
  • Caroline Widjaja
    Rental Property Investor · Los Angeles, CA · Member since 2018 · 84 posts · 54 votes
    6y

    Done!

    0Reply
  • Nick Taylor
    Las Vegas, NV · Member since 2019 · 17 posts · 3 votes
    6y

    done

    0Reply
  • Aaron Walker
    Real Estate Broker · Puyallup, WA · Member since 2019 · 5 posts · 3 votes
    6y

    Done! Thanks for all you guys do.

    0Reply
  • Adrian Barbosa
    Rental Property Investor · Fayetteville, NC · Member since 2020 · 16 posts · 11 votes
    6y

    Done! Looking forward to seeing the results 

    0Reply
  • Josue Vargas
    Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
    6y

    I completed my survey, wanted to know what is the intent of this survey.  Data change every day and most likely data will be very unpredictable, just exponentially growing in the next week, so this subject almost null... no one will expect that.  

    0Reply
  • Fernando E.
    Rental Property Investor · SF Bay Area · Member since 2016 · 234 posts · 103 votes
    6y

    @Dave Meyer done ✅

    0Reply
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