You’re welcome! Take advantage of the low rates that are coming in! Might be a week or two before the bond market takes full advantage of the FEDs new rates.
I like this balanced approach. Much needed amongst the hysteria. You also made a good point about foreclosed homes. Do you have any tips for finding/buying bank-owned properties? (I am asking as someone who has never done it before.) Thanks!
Yep, trying to give good info here. Real important we don't run off and do something crazy. I'll likely be doing a video on this someday but a super quick answer is go to auction.com where it outlines what to do from the transaction end. From there choose a property type and area you understand and buy something that's a good deal and not too intense on rehab (keep it simple for your first deal). Finally hold or sell it once you fix it up. Yea, crazy generalized, but will be working on that video some day and it's like 20 min + answer! Thanks for the question!
Nope. Only places with "quarantine" vibes is NYC, Seattle and a bit of LA. Hopefully we get through this quick and are able to protect the elderly and those with immune disorders.
Michelle Avrutin overall yes. But “luxury” has a very wide range and each micro market and even specific home can have very specific situations. If it’s a big city it’s always good to note where owners in that spot are actually from and to check how their country of origin is doing economically. Yep. Can become quite relevant.
Thanks for the video! Looking at Asia and Europe to anticipate what will happen in the US sounds like a good strategy. I already feel like the Bay Area is a ghost town now with everyone working from home, so I image stores and restaurants are being affected.
Christopher Workman yea the thing with restaurants is basically none of those workers have sick leave so they come in no matter what to pay the bills. Definitely increases your risk of getting covid.
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Lots of great points! You're doing a great job
Thanks!
Thanks for posting this :) I am actually about to close on a property and have been trying to think things through and this insight was super helpful!
You’re welcome! Take advantage of the low rates that are coming in! Might be a week or two before the bond market takes full advantage of the FEDs new rates.
I like this balanced approach. Much needed amongst the hysteria. You also made a good point about foreclosed homes. Do you have any tips for finding/buying bank-owned properties? (I am asking as someone who has never done it before.) Thanks!
Yep, trying to give good info here. Real important we don't run off and do something crazy. I'll likely be doing a video on this someday but a super quick answer is go to auction.com where it outlines what to do from the transaction end. From there choose a property type and area you understand and buy something that's a good deal and not too intense on rehab (keep it simple for your first deal). Finally hold or sell it once you fix it up. Yea, crazy generalized, but will be working on that video some day and it's like 20 min + answer! Thanks for the question!
is arizona under quarantine yet?
Nope. Only places with "quarantine" vibes is NYC, Seattle and a bit of LA. Hopefully we get through this quick and are able to protect the elderly and those with immune disorders.
Would you say your theory applies to luxury real estate as well?
Michelle Avrutin overall yes. But “luxury” has a very wide range and each micro market and even specific home can have very specific situations.
If it’s a big city it’s always good to note where owners in that spot are actually from and to check how their country of origin is doing economically. Yep. Can become quite relevant.
Thanks for the video! Looking at Asia and Europe to anticipate what will happen in the US sounds like a good strategy. I already feel like the Bay Area is a ghost town now with everyone working from home, so I image stores and restaurants are being affected.
Christopher Workman yea the thing with restaurants is basically none of those workers have sick leave so they come in no matter what to pay the bills. Definitely increases your risk of getting covid.