Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term.

And now here's your host, Marco Santorelli's.

Hello, my friends and welcome to another episode of Ask Marco,

where I answer your investing related questions.

So today's question comes from

Jason and he sends this question in with some urgency.

Jason I'm going to provide you some direction as you know we don't give

financial advice and sometimes it's hard to know what advice to

actually give somebody without specifics on the situation but I

understand what is going on here from your email and I can feel your pain

because I've been there many times myself.

Anyway, Jason writes in and he says, hey Marco, first of all, thank you for being not just a voice,

but the voice for us real estate investors. I have spent the last two years

consuming as many books, podcasts and all things real estate investing. In my opinion, you are

the authority that you're way too kind. I have been networking with other

investors and your name keeps coming up so from all of us thank you. Well you're very

welcome. So he goes on to say I closed on a property just as the coronavirus pandemic started.

This property is in the Phoenix market and I think we both know this market is susceptible to a decline in values.

I will be all in for $250,000 and I paid cash. This includes the rehab or renovation

and all other costs including selling costs as my intention was to flip it. If I don't sell

all in it will be around $235,000. It will rent for 1400 to $1,500 a month. Obviously, doesn't come close to the 1% rule.

I'm worried with what's going on with coronavirus. I will not be able to sell it at a profit.

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