All Forum Posts by: Samvel Gevorgyan

As noted by most, the market lacks inventory, practically, in every city within the States. The demand for deals, however has not stopped. If you pay close attention, most investors are switching their focus from high end housing to B/C+/C and C- properties. That makes sense because downsizing would be a common practice for the next few years due to unemployment and unpredictability. At the same time, there is another very unique trend going on that had been present in the past as well - Mass Migration. Expensive cities like LA, San Francisco, San Diego, NY, Miami, etc would keep bleeding middle class Americans who can now work remotely and are not tied up to these places. On the other hand, developing cities such as Jacksonville, Tampa, Boise, Dallas with more favorable economic and tax conditions would see an increase of working class people. Although I do not have a crystal ball, it is my opinion that there would only be recession in certain parts of the country, whereas others would actually see an increase.

Hey Kathleen!

I've done some research on Lower Greenville neighborhood, Dallas, Texas before answering your questions. It seems like the properties are less modern in the area and have a Bohemian vibe compared to Greenville. Since the building is almost 100 y.o. the foundation issue is not rare and it may simply have to do with the age of the house. I would simply recommend to schedule a free inspection, which plenty of contractors offer, but make sure you find someone who is not merely trying to get you do a project and spend money. Make sure to lay out the problem to them and mention that you are mainly interested in building a relationship and the current deal is not necessarily happening. You may even try multiple contractors to be more confident. Depending on what responses you get adjust the underwriting and make sure you are going to get the return you are looking for. If the deal is not as appealing after the research, bring on to the table, I am sure the agent and seller will be more than willing to work with you in such uncertain times, you may even get a bigger bargain overall.

P.S.

I am from Los Angeles and am coming to Dallas in mid May to potentially buy a triplex and move to Texas. Please let me know if you'd like to connect as fellow investors.

Best Regards :)