Some of my investors think its time to hold off. I have seen great deals and think its time to buy at a higher discount. Thoughts?

I started investing in 2009 when the Great Recession was in full swing. It was easy to find flips and rental properties during this time. It was also pretty easy to sell them and rent them out too despite the economic downturn. This situation feels much different than the GR because there is much more unemployment and long term uncertainty about when this emergency will end. Nobody wants to get stuck with a flip that can\'t be sold or a rental property with a tenant who can\'t pay rent, especially if a mortgage must be paid. However, I have been keeping an eye on the foreclosure rate. If it starts to trend upward, this will provide an opportunity to find well priced properties. Regardless of how well priced or plentiful the properties may be, strict due diligence must be performed so that all risks are considered. Can you make your mortgage payments if a tenant is unable to pay rent? Are you willing to evict the tenant and if so, can you continue making payments until the process is completed and then wait for another tenant to move in? If you have used hard money to purchase a flip, but it\'s taking longer to sell, can you continue making those payments while also paying for other closing costs such as utilities, property maintenance and insurance? If you feel confident about a property after completing an exhaustive risk analysis, then you should definitely consider purchasing the property. Money can be made in almost any market condition, but you must know what the risks are and be comfortable with them since real estate is not terribly liquid. Good luck with your endeavors and stay safe.

Do you have recommendations for an estate sale company?

Hi Paula you can call Keith with 3 Ángels (512) 923-5611

In your experience, what house issue scares away buyers from moving forward with a purchase? During the option period or just during the search. \n\nI\'m noticing \"foundation issues\" seems to be a back-breaker for many folks.

Generally big ticket items.. foundation, roof replacement, A/C replacement, major plumbing or electrical issues.

Buyer terminated contract before closing because of wrong information in sellers disclosure. It was mentioned that property is not in flood plain but buyer found out its in flood zone from elevation cert and terminated contract. Seller didnt release earnest money but agent put back property on market. \n\nI know she cannot becauee title is still open and contract is not closed due to funds not released. Am I wrong? Dont agent violated principle of contract?

I had a similar situation happen once. Per the title company that was involved.. yes, they can put it back on the market and they can accept a new contract. However, they cannot close on the new contract until this issue is resolved.

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Sara Molina

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NB Elite Realty

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Sara Molina is a passionate Real Estate Agent whose dependable, honest, and helpful nature has earned her the reputation as an industry leader. Armed with an extensive oil & gas and civil construction background, she possesses the property, negotiation, and contract knowledge necessary to ensure a truly seamless transaction every single time. Whether you're buying, selling, leasing, or investing in a property, Sara Molina is here to guide you every step of the way as a trusted ally who has your best interests at heart. Currently, she proudly represents clients across Houston and surrounding neighborhoods, so if you're in this target area, feel free to reach out to her directly with any inquiries.

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2526 Covered Wagon Dr

Crosby, TX 77532

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3 beds

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Conroe, TX 77304

$439K

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2,088 sqft.

3133 Moonlit Lake Cir

League City, TX 77573

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2,298 sqft.

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Sara Molina with NB Elite Realty is a real estate professional in TX. View Sara Molina's bio, Listings by Sara Molina, Neighborhoods where Sara Molina is active and more. You can contact Sara Molina by clicking the button below.

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NB Elite Realty, is a Texas real estate firm, located at 1644 W Alabama Suite #100, Houston, TX 77006. NB Elite Realty provides a wide range of real estate services. Consumers continue to find value in having a real estate professional help them through the home buying and selling process. The range of services the real estate professionals provide is proving ever more valuable in real estate transactions (financing twists and sales contract intricacies). Please view NB Elite Realty current listings, or sold listings.

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