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Updated over 4 years ago,

User Stats

967
Posts
383
Votes
Kirk R.
  • Peoria, IL
383
Votes |
967
Posts

Advice for being patient? need advice ASAP :)

Kirk R.
  • Peoria, IL
Posted

I've been hunting for a deal lately planning to use my HELOC.

Seems like there is more demand than there will be around the holidays.  Because:

$1,200 stimulus money.  $2,400/couple +$500/kid

+$600/week unemployment til July 31.

Interest rates have dropped alot.

People that kept their jobs may be working from home & have time to buy. 

Tenants should be cash rich (EXTREMELY if their rent is canceled) now altho by Christmas probably will have blown all their dough waiting for 2020 tax refund in February. 

on decreased demand, most bankers aren't loaning til people show that they are back to work.  Banker told me no dough til I'm back to work. 

So Guess I'll just try to be patient & work on other ventures? 

Or maybe SFH aren't right place to be focusing?

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