All Forum Posts by: Tracey Robinson

“ Bay Area “ is very different in terms of properties, quality of life, amenities, etc depending on exactly where you are talking about. So what will happen to prices in San Francisco may differ from what happens in Mill Valley, Walnut, Creek, Menlo Park etc. 
I predict a substantial price drop in San Francisco, especially in the condo market for multiple reasons. Tech heavy presence in SF will go down as people switch to working remotely and leave . Quality of life in SF continues to decrease with high burden of homelessness, filth, crime ( car breaks in for example ) which will also prompt people to leave. Covid has caused numerous restaurants and businesses to go bankrupt and shut down, the things that drew people to city life are no longer available, that will also cause an exodus, especially with no real end to the SF lockdown in sight. 
The surrounding suburbs probably will see an increase in price, in part due to some people’s desire to flee the city for more personal space, and freedom from some of the negatives that have become all too common in SF in the last few years. 

@Amit M. Sorry but I don't share the same optimism as you about the San Francisco market, at least for condos - rents are going down in the last 1-2 years according to my property manager, my condo value was flat / declining, I never cash flowed due to high mortgage and HOA, and QOL in SF is on the decline IMO. Large homeless shelter being built in my neighborhood was the last straw. I feel lucky to have sold when I did. Single family home may be a different story.

Thanks so much to everyone for all these great ideas ! I definitely like the idea of OZ funds - I’m investigating some of those. Definitely will keep places like Cleveland and NC in mind if I decide to purchase now or in the future. Right now I’m taking a watch and wait approach for the next few weeks - see how things trend with the economy and states reopening. 

@Tom Kastorff @Glen Mitchell

Glen is correct, I was thinking about Palm Springs pre-covid, but have pretty much decided that's not a good idea at this time. Now thinking about opportunity zone funds, or buying single family or multi family in suburbs or small cities in the Midwest or South, or maybe a mix. I hope to have some cash left to deploy in 6-12 months in case there are deals that aren't available now. I think it's a really uncertain time currently, but I really appreciate all the great advice from everyone here !

Thanks everyone for all the good advice. Very much a novice but selling a condo in San Francisco, probably got lucky and getting out at the right time ( my perspective ). I have to identify properties by July 15th then have 180 days to close after that. I can afford to float some months but don’t think I want to assume the risks of leveraging out to 1.6 million. For markets I’ve been thinking smaller secondary , maybe Memphis ( which I’m a little familiar with ), Cleveland.....definitely not California. Would love to hear thoughts on any other markets that will probably hold value post coronavirus. 

Hi, I’m a novice, trying to get into making extra income through real estate though I do have stable employment. Have just sold a condo and must do 1031 exchange by July 15th. Will have 400K as liquid funds from that, and have to spend 800k to avoid paying  66k of capital gains. Before covid, I had thought about a buying a home in Palm Springs to do as Airbnb, now that makes me very nervous. My ideas now have run all the way from just paying the capital gains ( due to fear of what will happen in the RE market ) to buying rental property on a platform like roofstock. I do have time off in June and July to find / research properties anywhere in US but no expertise in that area. 
Would appreciate any suggestions about what to buy, locations that may be best in light of covid / effects on the economy and if it would be best to buy up to 800 k or pay some boot because of economic uncertainty.
Ideally, if I could chose, I know this is not the best time to be selling / buying but this is a done deal that was in the works for months before covid was known. I do have good / stable income in the medical field, and good credit FICO score around 830 so I think I would be able to get a loan. 
Thanks for any advice!