All Forum Posts by: Pretty Khare

@Brooke Andrea were the new builds the ones in Cape Coral by any chance?  I'm also from NYC and thinking of doing one of their new builds there in order to start my journey.  Thanks for the great info earlier in this thread.

@Riley Schaefer, I appreciate all your input as well! 

Hi @Roushel Asuncion,

Nice goal to get into a rental before end of year!  I actually closed 3 homes with rent to retirement & @Zach Lemaster a few months ago, and have had a very positive experience overall.  I wrote about my experience on a different thread here:  https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review?page=1#p4497440

So far my cash flow is exceeding their initial projections as I really haven't had any vacancy or maintenance.  I'm sure that will come into factor as I own my homes throughout the years.  All homes were rented at time of closing.  I did not choose to see the homes in person as it did not make logistical sense for me at the time, but I'm sure I will at some point down the road.  They did provide me with a lot of information about the general market overview, the neighborhood, the home & repairs that were done.  I also went on google maps to virtually "drive" the neighborhoods, which all looked like nice locations with well kept homes.  I also relied heavily on the appraisal report as a 3rd party verification that all information was accurately presented to me.  The bank required and ordered the appraisal for each home.

Have you seen the first page to this thread? There seem to be a lot of people that have successfully worked with renttoretirement and happy with their rentals. I actually learned about them from a coworker of mine that has purchased with them for the past few years. We started talking real estate, and about all the benefits of owning rentals in different markets that have higher cash flow & returns. He then put me in touch with them. Overall I was very impressed by their communication, professionalism, and willingness to take as much time as I needed to walk me through all the important steps of investing in a market I'm not familiar with or close to. That was crucial for me doing this for the first time. I'm now working to set up my LLC and entity protection with their guidance and legal support.

I'm very excited I was able to get into 3 rentals in 2019, and my goal is to add 5 more to my portfolio in 2020, and hopefully be at 20 doors by 2022!  Feel free to pm me any specific questions you have.  Good Luck!!

From the data we have seen so far only 15% of forbearance have actually defaulted and are in trouble of some kind. The rest resumed payments, refinenaced or restructured. A lot of people applied "just in case" and never lost their job. As we are getting to the last 2 million, the bottom of the barrell, the hard cases if you will, I would expect the percentage to increase. But even then, when you devide it by 50 States, it is not enough to make a dent in the market.

The vast majority has positive equity, so they can easily avoid forclosure by selling the property on MLS, walk away with a check and save their credits. The main driver for delinquencies is unemplyment - we should see new numbers tomorrow on July 2nd. Nationally we are down to 6% unempyment, my home State Wisconsin even to 3.8% (under 4% is basically full emplyment) and we will therefore see viewer than average distressed sales compared to the nation.

There will be some, but not a wave and most of them will pop up on MLS as REO listings. And from what I have seen in the last years, banks like to price them at top dollar, even do some light fix up before listing.