rental property during pandemic. Good idea?

[Andre Fierro]

hey guys so i have a fourplex property under contract in gainesville area. All units are rented. I know there's  little hope things might look up but i am feeling a little nervous that things can get worst and my rentals will suffer. The property is well located and in a area with high demands for rent based on the info dug up and discussed with multiple people this units stay rented most of the time and there is a high demand for rental in the area. 

Can this thing get worst ? is it a good idea move fwd? just curious to hear your thoughts and experiences especially in Florida area.

thanks guys

[Will Fraser]

Hi @Andre Fierro!  It's a horrible time to consider this.  Just terrible.  You should cut it loose.

Oh BTW, what's the address of that property?

I'm kidding . . . I believe that it is always a good time to buy at the right numbers.  In your case I would pay attention to the current state of the tenants (are they paid up so far?  Have you seen bank statement showing that?  Are they on actual leases instead of a verbal MTM agreement? etc).  If the tenants are doing well, the financing is solid, and the deal flows now then I'd be comfortable going into it with good reserves.

Buy, hold, roll!

Be well,