All Forum Posts by: Isaac El

@Isaac El I definitely think the eviction moratorium will get extended but I also think some kind of rent relief program will also be in place nationally to bailout small landlords. The more important question is whether the eviction moratorium is a "black swan" event or if it will be a policy which is implemented any time the economy goes south. 

These are crazy times. Some are sitting on the side line. If you had $1,000,000 to invest, how would you invest today? 

Hey @Isaac El Good question, we should see this next month or so what this will lead to if they lift the moratorium. There are a lot of people that I work with that are investors with no issues collecting rent here in California. Of course the moratorium gets lifted and then there will be signs of higher evictions, and I think the needle here will tick up on that number. It sounds like we should not see as many as you would think, at least on our side of the US.  

You are going to offer $100k under list in a steaming hot market? If it's new to market there is no point of sending in an offer this low. If you are a lowball offeror or if the seller is just in the clouds, you need to wait until they start to see the money falling into the ground by sitting on the market so long.

@Jonah Walker nothing is going to change overnight after inauguration.  There's no reason to "wait" for something big in the market to shift - just keep looking for a good deal.

Hello, I am 19 years old and looking to close on my first deal! I am super excited, however this deal has seemed to go on forever! About 2 months since my initial message and offer. The house is $127,000, with about $3000 in closing costs and $4000 in wholesale fee. So I'm going to be paying $9000+ to close on this house. I have already paid about $1000 for everything to be inspected and looked over (Home inspection, Plumber to come out, HVAC to come out, and roofer). 

The house needs a new A/C unit, Furnace is old and water heater should be changed out for a tankless when I replace everything. This property will be used as a college rental, which is why the tankless water heater was recommended. 

The property is worth $130,000 appraised and will cost me $127,000 + closing costs +Inspection(s) Investment(s). It will rent for $1429 a month and yield about 35% CoC ROI after all expenses and management fees.

This double deed transfer has cause the whole process to slow down and has made me feel like I have wasted 2 months. Is it worth it to continue and go through with the purchase of this house? There is a house for $110,000 with 300 less square footage in better condition right down the road. Should I focus on buying a BRRRR and put my energy and money into finding a private lender or hard money lender, or should I go through with the purchase of this house?

Please leave me any advice or questions! I would love to hear everyone's thoughts and opinions on this. I thank you all. Happy Holidays and Stay Safe!