It's probably going to take several months to gather and analyze that data.In the meantime, we're looking at apartment REITS to gauge how investors are pricing real estate assets on public markets in real time to provide insight into how property values may change in coming months. 

Pressure is on me now!

I'm not sure if you're working with an agent yet, or have access to the homes on the MLS but id love to give you a hand in finding the property you're looking for (no pressure of course) If you have a minute shoot me a text or call  646-251-7743

I'm trying to gauge how much I should pay when comps are limited and this is my first time working through an "off-market" property.If I want a conventional loan (putting down 25%), should I go to the bank first to get an appraisal to gauge value of the property?

Hi @Luke Stewart,Definitely good to use a ballpark gauge but I would also talk to a local contractor to get a better estimate for the work and material!

The exterior of the building, roof and parking lot is on the owner not the tenant unless you can get them to agree but that’s not likely to fly.There is really no way to gauge or guarantee a tenant will renew. 10% is steep so that may be an issue.

That’s definitely putting some upward pressure on prices in our area, especially for homes purchased from retiring or aging homeowners that have been updated like ours.

So we have that possible pressure on the lenders also (as well as the owners).Based on the above (and other factors) I think the banks may continue to be flexible in their standards until we are sure we are out of this virus situation.Then they may go back to how it was, or they may do something different.It seems like right now there are too many unknown factors, making it at best just a guess.Just my 2 cents. 

Since we spend a lot of time evaluating the comps up front without the pressure of having spent any money, the decisions we make are objective.

Ghettos are parts of cities where groups of minorities tend to live based on social or economic pressures...the only minority group that our current President is associated with is black.