Several investors are seeing Covid-19 as an opportunity to invest in real estate while others are closing up shop. Often times, a lost to some is a gain to others. Who is losing? The banks because people have stop making payments. The effect? Now houses must sell in order to get cash to survive. That's where you and I could in because we have the cash to help people in their time of need. Are you taking advantage of people in a bad time? No. However the $1200 check from the government only put a bandaid on their problems temporarily and it's going to take more than $1200 to get out of a 3 month deficit caused by job layoffs.
So what now? Real estate is hot. Get investments while people are ready to unload. If you are not liquid, take a personal loan to fund your first deal then refinance to pull the cash out. Because cash is king in purchasing real estate. The investor with cash is the one that always wins.
How to win? Be ready to submit pof with 24 hours when presented with a great deal. Look for great resale value even if you are going to rent it. Have a great rehab team in place.
What about yours?
