The Danger of Buying During a Pandemic?

[Michael Ramos]

Hello Everyone,

My name is Mike Ramos and I am a Newbie to Real Estate investing and I live out in the greater Los Angeles area, looking to Flip, BRRRR and do Vacation Rentals in Cali (especially SoCal), Nevada and Arizona. My question is for all the Hard Cash and regular Lender Pros out there. Are any of you concerned with lending your money (especially to newbies) in our current economic climate? Regardless if the numbers reflect a "good deal" or not.

My mentor who I have known for about 4 years now (but only this week reached out to him to begin my real estate journey with him as my guide) is a conservative guy and is currently my only gateway to accessing hard cash if i need it. But he is hesitant to buy in the current economic atmosphere and is anticipating a significant correction to the housing market within the next 6 months and is not looking to buy anything until the spring of '21 when he feels this climate will be subdued. Meaning he wont partner with me on a buy unless the numbers are VERY VERY in favor of, at least, breaking even. Which is his prerogative I am not mad at him for that. 

How does everyone else feel about buying right now with all this economic uncertainty? Where are all the markets that are thriving with deals during this crazy time in the world?

Let me know what you all think.

Thanks,

Mike