Hello everyone, I am Juan Carlos Gastelum. I am a real estate investor in Texas. Primarily we invest in the small multifamily market in the Rio Grande Valley area.
A few weeks ago, we published through this blog, that the Eviction Moratorium was set to expire on July 31st., 2021.
As president Biden has requested lawmakers to extend the Eviction Moratorium, we are still under the expectation of the Eviction Moratorium being outstretched through December 31st. of this year.
If the Eviction Moratorium does expire, renters will need to access other forms of rental assistance programs. The president has asked local and state governments to provide emergency rental assistance funds. We’ll see how that plays out…
What does this mean for real estate investors?
- For one, collections may rise. Which is a good sign for investment property owners and lenders alike.
- Evictions could get triggered. Now, in a landlord friendly state like Texas, an eviction process could be completed within a 30 day period.
For renters, this means getting prepared to find assistance or a job as the economy recovers. For real estate investors, this means blue skies in the horizon.
Our tip for today is to stay abreast of the current situation and study your market as metrics do shift continuously, rents are rising and property prices are stabilizing , thus softening market.
For the time being, take care and see you next time. Best wishes on your real estate journey!
