Ep28: Should You Be Buying Properties In This Cycle As The Market Is Shifting? - Marco Kozlowski
Big Fat Real Estate Checks
Marco Kozlowski
5 • 957 Ratings
🗓️ 3 November 2020
⏱️ 19 minutes
🧾️ Download transcript
Summary
The pandemic has shaken almost every market, including real estate. So in this case, if we can't collect rent, why should we buy properties?
In this episode, Marco, Gabriel and Frank talk about how to properly manage the risk of buying assets during this critical time and the advantages of using Section 8 and other rental assistance programs on your properties.
WHAT YOU’LL LEARN FROM THIS EPISODE
- What are the risks in buying assets with no rents?
- How to mitigate the risk on the buy
- The Key to Real Estate Deals: Buying it right
- Screen your tenants properly
- What is Section 8 tenant?
- Should you wait until it declines completely?
- Buy based on the collected rent
RESOURCES FROM THIS EPISODE
Click here for the free quick start course "Get Deals By Tuesday" Masterclass.
CONNECT WITH US
- Email: [email protected]
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
Transcript
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| 0:00.0 | If you're going to get into it when it's at the highest or it's lowest. |
| 0:04.0 | Obviously it's lowest. |
| 0:05.6 | So now would be the best time. |
| 0:07.8 | Welcome to the big fat real estate checks podcast with Marco Kislowski where we help investors like you get the |
| 0:16.7 | knowledge and skills you need to replace your J-O-B with passive cash flow for life. |
| 0:23.0 | Hey everyone, welcome to Big Fat Real Estate Checks |
| 0:27.0 | podcast with yours truly, Marco Kislowski, |
| 0:30.0 | with Gabriel Adayish, out of Montreal and Frank Galutio or Francesco Galutio out of Toronto. |
| 0:39.0 | Always a pleasure to have my two compadres. |
| 0:42.0 | Today we're going to tackle should you be buying |
| 0:44.1 | properties in this cycle as the market is shifting as you know COVID has affected rents |
| 0:50.6 | there are 40 plus million people that have not made their mortgage payments or rent payments in 2008 during the big crash. |
| 0:58.0 | 12.8 million people lost their homes. |
| 1:01.0 | So the stat was only 12.8 and now were, you know, significantly higher than that, three or four times higher than what it was in 2008. |
| 1:09.0 | So there's a great opportunity coming. |
| 1:11.0 | I definitely don't want to take advantage of anyone that is not the intent ever when we're wanting to get into the business. |
| 1:18.0 | We definitely want to help people. There are going to be people that need to be helped as the market turns and as people can't make |
| 1:25.4 | whatever mortgage payment there is and they're going to be a ton of discounts |
| 1:29.2 | available and of course if you couple discounted properties with asset-based lending, allowing you to buy anything |
| 1:35.3 | that you want as long as there's 30% equity, you can generate a ton of cash flow. |
| 1:40.4 | And the one feedback, the one point of contention that I've been hearing lately is should we be buying is now a good time if we're not collecting rent. |
| 1:50.0 | If rent is a problem, if we can't collect rent, why the heck would we buy a property if we're not getting paid? |
... |
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