Black Swan- Bottom Feeders & Vultures
I recently created a thread regarding my efforts to buy a new car and trying to find a good deal due to the economic slowdown/shutdown we are dealing with. While I have no problem taking advantage of a good deal, it got me thinking about those that may try to exploit others misfortunes.
On another note, for those that find themselves in some type of hardship, the Bottom feeder may be doing this person a favor. Thus making them a hero (yes I know Hero is a bit reach).
I'm curious to see what others think about the Bottom Feeders and Vultures? Are they scum or heroes?
I personally know RE investors are sitting on the sideline wit their mouths salivating for another SFR or rental to pounce on. I'm also curious to see how these poachers operate in different Industries?
Hi MangoTang, any of these threads helpful:
You're welcome.
Bump
I based on what I'm observing, based on communication with Realtors and RE Investors, Residential RE and Multifamily may not have that much of a drop in value as one would anticipate. Considering the economic climate.
I know Realtors, that claim theirs phones are blowing up regarding potential opportunities and to take advantage of low rates. I need a proof of funds letter for a property I am looking for and I cannot get my banker on the phone. Between assessing the damage of their portfolio of restaurant loans due to the Pandemic and investors looking to purchase, overwhelmed seems to be an understatement.
While I personally invest in residential condos, and SFR, what are you guy doing on the institutional side? Retail and Hospitality don't have a pulse. Residential, I believe will be immune with the exception of those investors that don't have a reserve to weather the storm.
I'm going to buy a B&B in a rural coastal town to launder money and write-off my live in unit.
Then you can sell it to a Russian Oligarch for multiples of it's market value and claim that you beleive it's a teardown.
I do not know much about RE. My uneducated guess would be that if the stock market continues to fall there will be much less demand for houses.
On the personal side I agree!
I may not have been clear, I was referring to investor demand in residential real estate. Not much different that he Bill Ackmen and many PE/Funds going on CNBC stating current stock prices are a once in a lifetime investment oppurtunity.
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