Today we talk with Colin Murphy about how the COVID19 crisis is affecting the single family market. Colin is active in the affordable single family home market ($150k-$180k concrete block homes) and they have been remarkably resilient which means he hasn’t seen many discounted prices or special deals as a result of COVID19.

At least in the near future, Colin doesn’t think we will see a wave of short sales or foreclosures. Some of the reasons for this are that banks aren’t giving out the bad loans now that they were giving out 12 years ago. Also, a record number of home owners have refinanced which has given them additional cash flow to weather a storm. There is just not as many distressed homes on the market to get a discounted price or deals. This can all change, however, as real estate is a lagging indicator and is a couple of months behind the wider economy.

About our Guest

Colin Murphy is originally from Ireland and now lives in Tampa, Florida with his wife and 2 children. He is an active investor who has bought and sold more than $100 million worth of residential real estate in the U.S. and U.K. markets, including 350+ fix-ups in the Tampa Bay area (Florida) between 2015 and 2020. He has experience in a variety of real estate including buy and hold, fix and flip, wholesaling, tax deeds, foreclosure auctions, note investing, private lending, and more.

In addition to investing full time, Colin enjoys podcasting, networking with fellow professionals and generally creating useful content for those who want to achieve financial freedom before they get too old to enjoy it.

Colin was a previous guest on our podcast show 4 years ago on episode 73.