All Forum Posts by: Albert Ellis

I think its fine as real estate is a stable market in stark contrast to the last recession. In addition interest rates are as low as they've ever been and will continue to be, banks are in great shape, and the fed will do whatever it can to prop up the economy and ensure banks are still lending. There is still a housing shortage, but investors just need to be conscious of the market they are in & the demographics of the industries they are expecting renters and how severely they'd be impacted. 

We may need to pause, and re-evaluate the type of deals we are going after to make up for the possible risk of delays in closing, finding contractors, and finding renters. Although the impact will be felt only in the short term, most economists are pointing to the economy growing again in Q3 & Q4 of 2020. 

I am a new investor looking to do a couple fix & flip deals as soon as possible in the East Orange, Newark, and Paterson New Jersey areas. If any agents are experienced with working with investors in acquiring REO and properties that need rehab please reach out!

@Jaden Adams

You sound extremely disciplined & knowledgeable for your age. Going 100k dollars in debt is probably not worth it if you already have a plan in place to be a real estate investor. As someone who went to college & graduated with a degree in computer Science and 80k student loan debt, & now is seeking to become a full time RE investor I truly understand.

For example, because of my debt I need to have a high paying job in order to show a bank that my debt to income ratio is decent. If you have little debt, banks aren’t as worried.

I would go the no school route if I were you just for the fact that the 100k debt may not be worth it... And worst case scenario, after gathering real world experience and if you want to go back to school, it’ll always be there for you.

Hello Daniel, 

What area of PR was this? Also do you know of any resources for market data in PR? I've been having a hard time finding data on recently sold homes, the price it was sold for, and how long they were on the market.