Extension on Eviction Moratorium

[David Thoeny]

I'm a new to the RE world, with nothing but a few books under my belt and 1 vacant house that is awaiting repair before introducing my first renter. My question is circling the buzz of the extension of the eviction moratorium and how this has already affected investors this passed year. If the cases of C19 continue to rise, I think it will result in more lockdowns... resulting in a longer extension.

My questions are: 

Is this a bad time to get started?  

Are there any ways to get around this in future contracts?

How have you dealt with this in your RE investments?

[Jerry W.]

@David Thoeny, there are several threads on this in the forums you can look up for more information.  It is hard to give advice without looking at a particular deal.  My belief is that the best time to invest was 20 years ago, the next best time will be now.  Waiting gets you no where.  At least start looking at houses, running analysis, see about getting your credit lined up, etc.  If you don't jump in you will never know what a good deal looks like and will never get one.  It is possible that real estate is in a bubble, but I personally do not believe it is.  Demand of people looking to live in a home is very high, it is not driven by speculation that I can see.  

The Covid problem is like any other problem, you can run, or stay on the sidelines, or jump in.  Maybe your first deal won't be a $50K profit in one year, but it might be over 10 years.  There will always be a reason to wait if you let it control you.  As to Covid keep looking and if you buy be very careful on placing renters.  I have been putting a waiver about the eviction moritorium in my leases.  I am not sure if it will stand up, but why not?  You might also be able to buy a place at a massive discount that has a renter in it who is not moving out and get a property cheap.  Maybe you will have to wait 6 months to evict, but it may be worth it.  You can look for opportunities or look for reasons not to invest.  Look for a place to flip since values are climbing so fast, or look for a vacation rental.  There are lots of options, just get out there and find some.