Just wanted to drop in and say hello.

Good call on the property management - assuming 10% I think my net income (so to speak) drops to around $310/mo and DSC drops to 1.3.

The sellers are motivated as they are moving and have dropped the price considerably in the last month.

What would it drop to if you did a cash out refi?

It's crazy to me that the way they "screen" is by taking someones temperature before they board a plane to America.

I always tell my owners that your insurance carrier should drop your rate at least 25% because you are only insuring the physical structure of the property, and your appliances.  

A month or two back, I had to drop a 2 bdrm in the inner city area down to 6000 before I had an interested buyer.

Now single tenants charges above market per sq ft lease rates and if it goes dark likely your second generational tenant will not pay those rates.So if you buy at a 6 cap to 6.5% based on say a 35 sq ft rate for a good area and they go dark and it drops down to 25 sq ft for the second tenant going in you now have a crappy cap rate lower than your debt interest rate.Now if you have a corporate Steak N Shake there is more security as it doesn't matter if the store is losing money all the corporate stores prop it up guaranteed by the lease versus a small franchisee that takes a bath after one to two years of opening.I have decades of restaurant experience and after reviewing the FDD ( franchise disclosure documents) a few things became clear.

Feel free to drop by and network with some other local investors.

But, if I was considering making acquisitions, I would pass on the Bay Area right now... my feeling is that we are at or near a PEAK and there will be a drop within 12 to 14 months.