About to pull all contingencies, hesitant bc of covid-19
Hello BP fam, we are supposed to pull our contingencies tonight/tomorrow for a quad in Long Beach CA. Given the state of the country under Coronavirus, I am really nervous about what the economy is going to do. This quad is a good deal however it needs a lot of work about $100k and it will be completely vacant meaning I’ll need to fill all 4 units as soon as I’m done. Which will be in about 60 days. It’s hard to guess what our country much less our economy will be doing in 60 days but it’s Keeping me up at night. Would you freeze the entire thing and hold off and potentially lose the deal? Or would you push forward? I’ve got estimates in place for construction and all my numbers ironed out but finding tenants to paymarket rents in a recession is what worries me most. I know I’m asking you to look in a crystal ball but I figured some experts on here might have some sage advice. Anyone with experience in the Long Beach market is greatly appreciated! Thanks in advance!!!