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I did a cashout refi back in Jan to roll into another investment property, but with the current market I'm just completely sitting on the sidelines, not even bothering looking at the moment.
Any other real estate investors just sitting on cash waiting for a market cool down?
I did a cashout refi back in Jan to roll into another investment property, but with the current market I'm just completely sitting on the sidelines, not even bothering looking at the moment.
Any other real estate investors just sitting on cash waiting for a market cool down?
I invest and I never stop looking. There are always opportunities to be had depending on what your investment plans are. Mine flex with the market.
I know several people who are waiting until after the elections. It matters about how socialist the country goes. Case in point, private landlords being ordered to provide free housing with no recourse.
I know several people who are waiting until after the elections. It matters about how socialist the country goes. Case in point, private landlords being ordered to provide free housing with no recourse.
The country isn't going to go socialist. Dealing with a pandemic is new territory and so there is a lot of flailing about that is happening while things get sorted out. Once we are passed this, legislatures will have a chance to look at what worked and what didn't and create "pandemic legislation" as we will need to create some sort of systems and process for the next one. As there will be a next time.
And yes, as a landlord AND a real estate agent, I'll well aware of the impact of the executive orders from the governor. My brokerage has placed a handful of rentals up for sale this year for landlords. Am I thrilled with the order? No. I understand the concern though and why she ordered it. I can disagree with it without thinking the government is taking over the country. They are just normal people trying to make difficult decisions.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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We are still seeing "fixers" selling in a few days with multiple offers over asking, reaching or exceeding the market value if already renovated. Buyers apparently have enough cash. Across the street they paid $774,000 and contractors have been there for two weeks so far, with front and side yard makeovers, completely new kitchen, and whatever else we haven't seen. This is not an investor, but a young family with two kids.
I suppose I'm sitting on a vacant lot, that I'll build a spec house on eventually. Builders are too busy right now, material costs are high. So I don't feel very motivated to act. And I can always put some money into a rental mortgage and re-cast, if I want to reduce the payments and improve cash flow.
I can find enough things on my own house that need improvement anyway, so there's no rush.
I did a cashout refi back in Jan to roll into another investment property, but with the current market I'm just completely sitting on the sidelines, not even bothering looking at the moment.
Any other real estate investors just sitting on cash waiting for a market cool down?
I keep feeling that the market will cool as well but one never knows for sure.
I'd say the election and aftermath fallout might be worse than the pandemic on the economy, especially if there is an uprising. If I could easily find another decent place to live I'd probably sell my primary residence too and re-purchase in a year or two or more.
I invest and I never stop looking. There are always opportunities to be had depending on what your investment plans are. Mine flex with the market.
See I'm just a "buy and hold" guy. So buying a rental property now, only for it to be 10-15% cheaper this time next year will cost me greatly vs just holding cash and waiting.
See I'm just a "buy and hold" guy. So buying a rental property now, only for it to be 10-15% cheaper this time next year will cost me greatly vs just holding cash and waiting.
I am too. I don't flip.
I just don't think the types of properties that I buy will drop like that in my market so I'm continuing to look.
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