All Forum Posts by: Mike Lee

Who would have thought going to the forums this morning I would find CNN and Fox News dialogue?

I thought we were only discussing real estate investing strategy here...

An awful lot of advice here, I am sure you have found the guidance needed. Your story is unfortunately not rare. Best of luck to you.

I agree with Noah, however I believe the OP does not *want* to keep this property. He wanted confirmation that he should sell, which he is getting in the thread. Sell and consider local investments or another strategy.

Best of luck to you. My brother in law was laid off by a major hotel chain in Miami when covid forced the tourism industry to come to a halt in May. He has yet to return back to work, and he and my sister were under contract for a purchase of new construction. They ended up  closing as scheduled. No one verified employment ahead of his closing for what its worth. He does have stellar credit (813).

Agents and loan officers should be working in this current climate 7 days, as their income is driven on production. 

James - Are you focused on doing buy and holds/rentals first? If so, my advice would be to focus in that area. Connect with a local meetup/REIA group. That is a good start.

Good to see most are on the same page as myself. I own an older model sedan I use as a daily driver, and for purposes of my rentals they always see me in that car. A friend of mine who lives in Dallas has a brand new Tesla, which draws a lot of attention when pulling up to his college rentals, however he feels college students will see the car and "admire/look up to" him. Different strokes for different folks.

Brian's recommendation is a good start, however I have found that for newbies, it can be a little more challenging to make genuine connections in such a large group. Feel free to reach out with any questions regarding your investment strategy.

Curious to get peoples thoughts in 2020 on this subject

Thanks everyone. Repairs are starting to pip up, and since this is a buy and hold long term rental for me, replacing with scratch and dent makes sense. Funny thing is the difference in price vs. New is minimal.