Times are tough and there is a great deal of economic uncertainly.
Covid-19 has changed everything; and although things look dismal now, there will be a recovery, hopefully by the summer. To that end, John Burns Real Estate Consulting is putting out a weekly newsletter called “The Light” to inform real estate investors about the current condition of the market and what to look for in the future.
Their first newsletter focused on the apartment industry.
“Given the current outlook, many renters are likely to experience an income reduction. Leases that expire may not get renewed, and some tenants will not be able to pay their rents. Shelter in place orders are spreading throughout the country. We are expecting massive layoffs in retail, hotel, tourism, trade, and many other industries. While current apartment communities may stay occupied, newly constructed apartments may need to discount, potentially heavily, to lease up.”
The Light then advises investors to diversify their portfolios by purchasing single-family rentals. Interest rates are approaching zero percent so there’s some incentive for buyers to get back into the market.
Read on HERE.
Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.