My newest property purchase at Akers Avenue in Akron, Ohio is a smaller property than I normally buy, but I was able to pay cash for it. I’m going to talk about why I bought it sight unseen and without due diligence from the seller, plus I’ll share the tools I used to help me analyze the property.
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When you’ve finally decided to scale up, what position should you hire for first? The first crucial hire sets the stage for the next, and then the next, until you’ve got a team that can run smoothly without your oversight. Lee Kearney has built up a team that can run without him, and he tested it when he was diagnosed with COVID-19 this spring. Since then, he and his team have had to pivot and prepare for what’s coming next in the real estate market.
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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.
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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.
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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.
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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.
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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.
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How you frame the opportunities in the real estate market right now is incredibly important because your mindset is going to determine whether you run toward those opportunities or hide from them. Rod Khleif and I talk about how the impact of the Coronavirus is different from 2008, and how educating yourself, networking, and feeling gratitude can reorient yourself for the market shift that’s coming.
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Even in these unprecedented times, there are still some rules and laws that protect landlords’ investments. The CARES Act directly impacts real estate and small businesses, so I talk with my personal real estate lawyer David Streeter about the protections being written into the law to protect and preserve the relationships between tenants, landlords, and banks.
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