Longer build up of inventory, but safer during turbulent economic times.During the last downturn in Real Estate, many of my BRRR investor clients saw their entire portfolios unzip when a small number of tenants.Currently I am seeing a huge increase in calls from my investor clients inquiring about unloading their highly leveraged investment properties.30 - 60 - 90 Day notes called by commercial Lenders (The commercial credit market will probably lock up soon if Banks don't act soon)Closing of Equity Lines by Residential Lenders (yes, a lot of lenders have it in the small print)Calling on Equity Lines by Lenders (again, the small print)Margin Calls on mortgages by lenders especially hard money lenders.A declining Real Estate Market (Many areas especially Southern CA are seeing dramatic price drops on listed homes)My questions for current BRRR investors are:.

Inquire about an FHA 203K rehabilitation loan with a local mortgage broker.

BTW, I know a lot of people on here would not think that $2,500 per month would get a quick renter, but this is Brooklyn.Within 6 days of ads, I got 40 inquires, 5 applicants and I took the best one which was a YOUNG couple that made $200k combined income plus had $200k in savings or an IRA.I don't really have experience with a higher priced apt like yours around the $5k range, but maybe my rental is annedotal.It seems to me that there are a lot of people who are considering low density buildings like ours to be highly desireable because of the Pandemic.It makes sense because you can pretty much isolate yourself and you don't have to go into an elevator, potentially breathing in someone's germs who may have just sneezed or coughed while you are within 6 feet of each other.For the Garden Apt, it's exceptional to have at this time of year as well.

I think there are three factors at play here:1) Many renters have decided to put off their move until after the pandemic has passed (they inquire, I follow up, they've decided to wait).

And so therefore, I would definitely call this person on the phone and inquire what the deal is with their sink and toilet. 

I did have a three adult group inquire.

What I’m inquiring about is would it be smart to pull 50k for a down payment for my next home via HELOC?

I did not inquire about additional points.  

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

We all hope that we don't get these people and have our personal methods for vetting renters when they initially inquire.