Distressed Assets
Does anyone think there will be distressed asset sales if this goes until May/June? Banks can’t give all borrowers forbearance and concessions. Definitely not everyone has perm financing through HUD or FNMA.
[{"id": "fl4gn7y", "text": "Yes", "replies": [], "depth": 1}, {"id": "fl4uxud", "text": "There will be distressed asset sales if this goes another week.", "replies": [{"id": "fl4xyek", "text": "Hope you\u2019re right", "replies": [{"id": "fl6whfr", "text": "Ya i too hope everyone's properties end up negatively levered and seized by lenders", "replies": [{"id": "fl8vav6", "text": "As an investor it\u2019s one of the best opportunities. Sorry if you or anyone else on here will be negatively affected. 2008-2009 opened the door for a lot of people to buy assets at deep discounts.", "replies": [{"id": "fl9ws3b", "text": "thats not the point i was trying to make.. point is that times like these absolutely crush people. they lose pensions, health insurance, jobs, etc. i obviously get what youre saying and its true but show a little empathy. for every asset that trades at a heavy premium, theres another side to the transaction where somebody gets crushed.  Not something to root for IMO, which is what youre doing", "replies": [], "depth": 5}, {"id": "flckz9n", "text": "Can you explain why it\u2019s a great opportunity?\n\nMy understanding is that the tenant won\u2019t be able to pay rent. So the owner has to sell at a bargain. But if you buy it, How would your position be better than the previous owner?\n\nSorry I am new to this space. \n\nAnd better question, how would you know a property is a good price? Do you compare to it\u2019s previous price (property tax appraisal value)?", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fl5ez2h", "text": "Any suggestions on how best to find these distressed assets for sale?", "replies": [], "depth": 1}, {"id": "fl5fy9j", "text": "There will be more coming up. As of now most auctioned residentials are way over priced. However, the borrowers are more qualified than before. Most can survive in this environment.", "replies": [], "depth": 1}]