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All Forum Posts by: Mehran K.

Mehran K. has started 50 posts and replied 3168 times.

Post: What will be the impact of the Coronavirus crisis on real estate?

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

Definitely a good time, defensively, to make sure you have ample cash reserves, lines of credit, aren't extremely leveraged, etc., to weather any storms.

Also a good idea, offensively, to have capital ready to deploy if opportunities arise, great credit, solid relationships with those in the industry, etc..

Post: What will be the impact of the Coronavirus crisis on real estate?

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603
Originally posted by @Austin Mudd:

Here’s what could happen

Americans are basically plugging their fingers in their ears and completely denying the worst case scenarios here.

Here are various results for real estate

- financials markets crash, leading to consumer spending to grind to a halt and people needing to Derisk their balance sheets and move to more cash

- older Americans get hit hard with the virus as it continues to spread exponentially through the population

- older homeowners pass away or become very sick, forcing folks to sell investment property or their own homes to cover higher medical expenses = inventory increases

- home tours slow as people self quarantine themselve, leading to higher DOM and less demand

- same goes for investment properties - investors can’t send people out to conduct due diligence

- tours and lease up slows in the multifamily sector, especially hitting the Class A space. Some recently delivered apartment buildings struggle financially and defaults occurs

- the short term office/rental sector gets hit hard

- office lease up grinds to a halt as employers space corporate expansions and decision makers get pulled into more important decision making (or unable to make decisions - same goes for A&E folks consulting them)

- trade slows down causing industrial to suffer

- retail assets struggle with consumers taking a 1-3 month pause from eating and buying goods/services

- after 2-3 months of reduced sales, struggling retail companies (especially mom and pops) face dire financial situations and are forced to close

I don’t think real estate will be impacted tomorrow, but by 4Q the industry is going to be impacted heavily after the impacts cause loans to default from higher vacancy and lower income

 Definitely potential for all of these things to come true. Sigh.

Post: What will be the impact of the Coronavirus crisis on real estate?

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603
Originally posted by @Mark S.:

@Kevin Lefeuvre Well CNBC reported that the flow of foreign money into US real estate has picked up because it is seen as a safe haven. Don’t know how much of that is residential but I would believe a good percentage is MF. Think back to the ‘end of the world’ scenario during the Great Recession and what has happened since then. Everything financial goes in cycles but ultimately works its way back up (except for tulip bulbs)

Yeah, actually for NON-US Citizens, the US is one of the best tax havens. For US citizens, it's the worst ahaha

Post: Property Management in Milwaukee area

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

I have been using SUV Properties for years now. They manage many of my properties, and many properties I own in partnerships. Melanie is very knowledgeable and has a solid team. She manages a TON of properties and is definitely on the ball.

There a million things that can go wrong over time in this business. Having someone that has seen most of those things and knows how to best handle them as they come up is invaluable. 

With that said, as an owner you still have to do your part sometimes and manage the manager as no one is going to treat your portfolio with as much care as you do.

Post: Recent SFH Deal Numbers/Reflections

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

Update for everyone on this thread! I am refinancing out of the commercial portfolio loan on this property, into a 30 year fixed rate portfolio loan. The appraisal just came in at $88k. This is much better than the $52k it appraised for a few years ago with that crappy appraisal mentioned above. 

Justice!

Post: General Contractor

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

Just got a keyword alert because of our name. Nice to meet you @Mehran Moghaddas and welcome to BP :)

Post: Finally Leaving My W-2 J.O.B. Pumped!

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603
Originally posted by @Damien C.:

@Mehran K. Really cool news -- glad to hear it!

 Thanks Damien!

Post: Finally Leaving My W-2 J.O.B. Pumped!

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

@Andre GreenThank you very much!

@Sandeep S.Agreed on success, and congrats to you as well! Good stuff!

@Account ClosedThank you! I hope to have a much longer journey to share :) See you around the site!

Post: Finally Leaving My W-2 J.O.B. Pumped!

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

@Brie SchmidtThanks so much again, I'm excited as well!

@Matt R.Online biz is E-Commerce related, not REI. Thanks man :)

@Dave VisayaI completely forgot to reach out to you when I was in PI. I was actually in Cebu around Sinulog! I should be going back to Manila at the end of March. I'm not sure if I'll be visiting Cebu this time though. I will try to reach out!

@Glenn TracyThank you sir!

@Craig MooreIt has been great so far, I hope you reach your girls Craig.

Post: RE/Partnership Attorney in Wisconsin

Mehran K.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 3,405
  • Votes 603

I used attorney Michael Plum in Milwaukee. You can google him and he's great. You can let him know I sent you if you end up working with him. I don't get any referral fees, just brownie points! :)