All Forum Posts by: Jan Kutrzeba

@Jordan Moorhead

I hope you’re right.

@Jordan Moorhead

The question I’m wrestling with is whether the Austin market will be flooded with foreclosures once the govt cuts the Pandemic assistance money. What’s your take?

This morning market watch news claims that a record number of jumbo loans are in forbearance. Even tech ppl have to sell their products and/or service and if buyers don’t have $$ and the economy is in a downward spiral, tech peeps will soon be out of work too. And let’s not forget, Austin is not comprised of tech only.

My real estate brokerage biz in NYC died pretty much over night back in March when my buyers lost their down payments in the market and/or lost their jobs or were about to lose them. My seller clients wouldn’t list because a) we couldn’t even show the properties and b) buyers had no money or were in fear - it’s a catch22. >>> low inventory.

Austin has been a hot market for a long time. What are your thoughts on COVID affecting its real estate market? The residential inventory is very dry atm. A lot of ppl in Austin have high paying tech jobs that haven't been as affected as many other sectors & markets. A lot of out of State money still keeps pouring in. Thoughts? 

@Elliot Vann

Sorry just saw this. I’ll DM you tomorrow! In a nutshell: great returns and very happy with my property, team, and the tenant.

@Chris Lin

Hey Chris,

Thanks for checking in. Haven’t sold it yet. Sewage issues cleaned up and tenants paid for it once we showed them proof they had clogged it (baby wipes, etc). No further problems for now thank God. Interesting to see how covid will change the Atown market. Hang in there!

Hey Joshua, the numbers made sense; fastest growing city in PA, lots of blue collar jobs, big rental pool, low purchase prices and relatively high rents. It's a very hot market.   

@Laura George

Thanks Gabe. Lease to own is an intriguing concept that I see someone applying in my market (not sure how successfully).

I’ve made a firm decision to not self manage after talking to other owners and working with tenants here in Brooklyn for a couple of years.

My house is in a D area with the kind of tenant base I wouldn’t want them to know my name or my contact info. I also just don’t want to deal with them. I’d rather pay a PM the 10% for the head aches or sell altogether if the maintenance issues continue since fully gutting in this area doesn’t make much sense either.

All in all it’s been a great learning process and there seem to be as many strategies as there are investors.

Thank you all for the much needed advice!

@Sue K.

Also, having had a chance to work at a PM company here in BK, I swore I’d never self manage. I don’t want my tenants to know my name or have my number.

Ppl get personal, ppl get vindictive. They take out their rage on their LL’s property. With a PM company in place it becomes less personal, and I believe tenants are more likely to pay on time and cause less damage and be less likely to sue (for whatever reason) knowing that they’re dealing with a (seemingly) faceless corporation. Am I wrong?

@Sue K.

Thanks for the input. I would always like to believe that ppl are honest.

A friend, who’s a seasoned LL here in Brooklyn, told me that everyone will try to s**** you over once you enter the biz of landlording; everyone will think you’re rich.

@Joe Villeneuve

Amen. Thank you. You’re absolutely right, Joe. It’s a marathon. And nope, not giving up. Not even close.