Once you hear Tenny Tolofari’s story, you’ll be inspired to put away your excuses and get to work building your real estate business. With a focus on relationship building, Tenny and his partner Leslie have acquired hundreds of units in just a little over a year. And instead of slowing down in the pandemic, Tenny’s unique perspective has allowed him to pause, reflect, and face this new challenge head on.
In this second part of my conversation with Buckingham attorneys Richard, Nate, and David, we talk about the impact of COVID-19 on bankruptcies, commercial real estate, and court cases. Because of their work with insolvency, the attorneys have some great ideas on how to restructure a business or a contract to protect assets, and where you can look to expand your real estate portfolio.
A lot of the initial conversations about the PPP Loan had to do with employee benefits. As we’ve moved further along in the crisis, that conversation has shifted. For an insider’s perspective on how the PPP loan can help companies beyond payroll, I talk with attorneys from Buckingham, a law firm based here in Ohio.
Move beyond land flipping into creating mailbox money. Mark Podolsky’s unique approach to investing in raw, rural land yields a consistent stream of income. In addition to not dealing with tenants, rodents, or evictions, investing in raw land means you can go anywhere in the country and run your business from your home office. Don’t miss Mark’s offer just for our listeners at the end of the podcast.
When someone defaults on a housing loan, who still wins in that scenario? Figuring out how to win in every scenario is a big part of Bob Fraser’s investment strategy, and that’s why he buys mortgage notes. With more than a few recessions under his belt, Bob has seasoned advice for real estate investors on how to maneuver through the COVID-19 recovery.
Being resourceful is one of the top characteristics of a successful entrepreneur. On his way to building micro-units, Scott Choppin from Urban Pacific found instead a building model that fits in an unrealized niche. Pivoting to address this undersupply, Scott’s been able to keep his company busy even as projects across California have slowed down.
Institutional loans have come to a screeching halt while banks wait for a sign of the direction this economy is going to go in. Even crowdfunding platforms have slowed down as it seems like everyone’s holding their breath. There are going to be some amazing deals on the marketplace in the next six to eighteen months, but your ability to access private money is going to be crucial to your success.
Everyone’s got an opinion about which way the market’s going to go, so I turned to Daren Blomquist, the vice president of market economics from Auction.com, for some hard data. The trends in the housing market for the first quarter are surprising, but also rapidly changing. Daren and I talk about some of the pressures on the current market, and make some predictions as to how the pandemic could impact real estate.
You’re going to hear a lot of misleading terms that supposedly demonstrate where the housing market is going in the next year. I set the record straight today about what home sale units really vreflect, and what you should actually focus your attention on.
One of the key parts of a joint venture is giving the investors an accurate and honest picture of their investment. Jack Petrick and I show how we talk to our investors about some apartments we bought with them last year. We walk them through the plan we had, and we address the concerns we know they’ll have about the impact of the Coronavirus on occupancy rates.