What’s after the Pandemic for us?

[Ricardo P.]

I’ve been browsing around this forum for a couple of months now and what catches my attention is a lot of negativity on threads for example “Why keep Investing in Real Estate” or “tenant taking advantage of eviction moratorium.” I think I should be the one who starts a new thread with a brighter more positive tone. I honestly don’t see this going on for much longer. I would say give it another 30-60day max. A lot of states will start to open tomorrow. But what’s your input on this moving forward. 

What have we learned and what can we do better moving forward? Are you going to ask for a higher Security Deposit? Will you now ask for first month, last month rent + security deposit? Will you ask for copies of their savings account??? Or are you thinking about maybe throwing in the towel? 

I think it’s time for us to shine light on one another, regardless of the bs we are getting put through by Congress. There’s always going to be light at the end of the tunnel and before we know it this will all be over with. 

[Kenneth Garrett]

@Ricardo P.

I’ve been pretty fortunate rent has come in even though we have this no eviction hanging over our heads.  It requires to accept partial payments where in the past I would not have accepted partial payments.

This has made me look at my processes and screen better. Make sure you cash flow and keep healthy reserves. $100 cash flow is ridiculous. It is know where near enough. Analyze the screening process where I make sure the screening includes; credit score (analyze what makes up the score is more important), 3 times the income, DTI under 45% among other things.