All Forum Posts by: Josephine Wilson

@Jim D. Just because I don't know any of these people who need places to park cash does not mean they don't exist, eh? But it doesn't have the liquidity of a bond fund, plus you pay a hefty commission when you need to exit. I get the diversification, though.

@David Avery It is not a wholesaler deal. It's someone else's deal that closed in January. I'm examining some recent deals in my target area to get a sense of the market. I was just perplexed as to why someone would buy it at that price. 

@Dan Cuming You may be right, Mr. Greenspan. 

@Marc Rice True, but I'm not sure I want to deal with so many different people. Not sure STR is my thing.

@Daniel Trimble Your first payment - I bet that feels good. Congrats and good luck!

@Eric Bilderback Good perspective. If I can get through a few years of worry, there may be the big pay off in appreciation. 

@Curtis Bidwell Yup, that had been on my mind. My rents are averages from units advertised online, but a lot of student housing is dumps. I kind of suspect, as you note, that I could make some upgrades, do some nice advertising, maybe attract childless university staff rather than students, and get my cash flow into a decent range. It's a bit more of a gamble though. 

@Tim Ryan Good point. I'm going to look at some neighborhoods at bit farther away before I give up on Tucson altogether. I just can't see going OOS on my first property.

@Nicholas U.

@Nicholas U. We have several large apartment buildings going up. Wise to proceed with caution under those conditions. I'm going to take a look at some other neighborhoods.

@Dion McNeeley Good insights. That may be what's happening here.

@Mark Kelly and @Adam E. Good catch. My cash flow calculation includes insurance of $83/month and also a vacancy rate of 5%. Should have mentioned those!

Great advice - thanks, guys! 

I'm going to check out some local banks and credit unions, as you suggested. My credit and DTI are very good. I'd like to get to 20% down and 4%. Hopefully that's not overly optimistic!

@Russell Brazil Good point. I'll keep shopping.

I agree. There are a massive number of people not paying rent right now, but there is no effect on the housing market yet because of the eviction moratorium. Once the moratorium is lifted, there will be a flood of available units as those renters move out and move in with family or downsize. There will be a paucity of capable renters for the number of units available. You may see more multifamilies on the market as some owners will want to get out of the market rather than go negative on cash flow. Rental SFH homes will be vacant, prompting more owners to sell. The demand for SFH may be enough to accommodate the increased supply. Unclear to me how deep the effects will be.