All Forum Posts by: Jason M.

@Jack Norris I haven't. I have been lying low and waiting until after the election to see what if any changes are going to be made in regards to the pandemic, eviction holds, etc.

@George Blower you are correct sir. I forgot to mention that my pay was cut by 20% at the beginning of the pandemic, which is why I was eligible for the payment deferment.  I have since paid that loan back in full, so it won't be an issue in January.

I'm not aware of how CARES is affecting early withdrawal loans, but I would be surprised if it applied to RE investments outside of house hacking. I was able to take a 401k loan up to half of my balance for use towards my primary residence. The CARES act allowed me to defer payments on this loan until 12/31 without penalty, though interest does still accrue.

I'm curious how umbrella Insurance affects investment properties and if it's a good protection strategy. Does it only work if the property is your name? (Vs LLC or Trust). How much is enough? Should it be increased with each new property?

My advice when it comes to financial planning is to look at the cost vs returns. If you have super low interest rates on the debt, say 2% and you can get 4 to 8% on investing, then invest. However, if you have 28% rate on a credit card you probably want to take care of that first.

All great points, no push back from me.

I can't even wrap my head around an 18% interest rate. I have 2.75 right now and the highest I've ever had was under 4.

I saw that, but I'm much more concerned with this. 

https://www.corelogic.com/insights-download/home-price-index.aspx

I feel like this could just be a statistical anomaly based on job reports showing a short-term COVID loss, but I'm also being very cautious.  I feel like we might be able to get some killer deals on property in the next six to twelve months, but I also feel like we might have trouble getting quality tenants, getting those tenants to pay rent, and evicting tenants that don't pay rent. 

@Richard Libutti no major rush, but the core of almost every BP book, blog, podcast, and post is "just get started.". Since these were written in a pre-pandemic world I was hoping to get an updated perspective. @Chris Lopez's June market update was pretty positive, but your are correct there are lot of things coming that could affect tenants ability to pay and landlords abilities to evict. 

I just moved away from Texas. :)

@Chris Lopez Great suggestion. I'm going to have my searches updated today. I think my current search is all 3/2 or bigger properties under 300.