Marita Jojo@Marita Jojo:  You said I am buying and have mortgage and everything ready to go and closing has been scheduled for WednesdayFrankly, I don't know all the facts and I hope that your title company opens up in time for your Closing.However, it is possible that your title company will stay closed even though the you are scheduled to close.In Illinois, Sellers and their attorneys choose the title company that will be used, which buyers usually agree to.IF my title company chose to close, I and all of the attorneys who use that title company would jump to another title company that is staying open.I'm interested in getting an update from you regarding your closing.Good luck. 

If things don't look any better in the coming months, would you hold off for a longer period of time or maybe just choose to alter your strategy (like buy and hold instead of flip)?

The tipping point would be when the average American can't get basics like food, medicine, or shelter and is forced to choose between starvation and death or violence.  

Can’t leave the house.Showings are down because ppl are choosing to only look at top 2-3 homes on their list and not see the “maybes” on the listEducation to clients:May need Pre Approval letter to approve showings of propertiesNo extra ppl at showings (mom/dad/friends/kids)Clause to extend contract for 30 days if lender/title goes out of business to complete closingsCurrent Contract already has some language if title can’t deliver on time (extend 10 days)Can AmendCan terminateStill a Seller’s marketFinding right balance of what buyers should/should not ask for to keep their offers competitiveImportant to let buyers know to try any work together (buyer/seller) to get the deal doneProperties that are priced correctly are still getting immediate showings, multiple offers and going under contract the same day or within a few days.We've already experienced this a few times this week.

It all starts with who you are choosing to finance your deals.

Let's choose to be kind and be compassionate.  

I am very curious to know, if you guys could walk me thru the process it be very appropriate. 1) Rental Property Cash Flow Analysis- Due Diligence: a) The first step to buying a multifamily home is deciding on the right neighborhood to invest in.b) Property condition: Take into account how much time, money and work the property will need in order to be rent-ready. c) Rent roll: Look at the current rents and compare them to the average rents in the area to see what the property should rent for and can help influence your buying decision.d) Revenue & expenses: Look at what rental revenues are coming in and what the current expenses are and see if it makes sense, remember to add in your approximate carrying costs to see if you will be cash-flow positive.e) Vacancy rate: Look for a vacancy rate below 10% and see how long each unit is vacant per year so you can figure that into your carrying costs. f) Loan calculation: Add your loan calculation into your Analysis.2) Work with a RE agent.3) Choose the Right Lender. 

I ask because if they are a comparable price to your units, and they are brand new... this could potentially drive up your vacancy rate, because if someone's going to pay a similar price for two apartments, they will obviously choose the brand new apartments.

We definitely are experiencing fewer properties on the market in Bakersfield due to COVID, but still lots to choose from. 

Choose your contractors carefully, and manage your projects well.