Opportunity amid COVID Chaos

[Robin Morales]

Good Morning BP

Recently, I halted my first multi property investment in fear of the uncertainty brought on by the virus. Although, it was a tough decision, I feel there will be a better opportunity to come. I’m not sure how the housing market works when it comes to cost of homes supply and demand, but what led to my decision was the unemployment claims that almost tripled what was expected.

Do you expect lower prices ? How do you time the housing market ? How long do you wait to see if prices come down ? Etc.

[James Wise]

Originally posted by @Robin Morales:

Good Morning BP

Recently, I halted my first multi property investment in fear of the uncertainty brought on by the virus. Although, it was a tough decision, I feel there will be a better opportunity to come. I’m not sure how the housing market works when it comes to cost of homes supply and demand, but what led to my decision was the unemployment claims that almost tripled what was expected.

Do you expect lower prices ? How do you time the housing market ? How long do you wait to see if prices come down ? Etc.

 The opportunity is already here. From my experiences I've had two types of investor clients.

1. Those who are backing out of deals and want to remain completely liquid.
2. Those who have become ultra aggressive, making more offers than normal.

The fact that so many investors on both the buy and sell side are backing away mean there is a lot less competition for the aggressive buyers. As such, I've already transacted 15+ deals that saw buyers take down properties for a lower price then they would have without the COVID-19 hysteria.