Mar 31, 2020
Everyone is struggling with the isolation and stress of an unknown future due to the COVID-19 pandemic. You’re not alone. Constant communication is crucial between owners, operators, tenants, vendors, and investors in the multifamily space.
Today, I'm talking to Nitzan Mosery of Cornerstone Investment Partners, Maureen Miles of 4M Capital Real Estate Investments, and Mike Flaherty of L5 Investments. They provide powerful and valuable insights into the current state of multifamily investments.
Topics on Today’s Episode:
- State of Multifamily Market: Constantly changing due to COVID-19 impact
- Take Care of Tenants: Incentives, waive fees, discounts, payment plans
- Take Care of Staff: Avoid layoffs, stay working, and stay safe
- Rent’s Due: Set expectations but be supportive, flexible, and compassionate
- Best Gift Ever: Help those in need, whether it’s toilet paper or coloring books
- Capital Market Loans: Private lending up; commercial mortgage-backed security (CMBS) on pause, Fannie Mae and Freddie Mac still going strong
- Time to buy? Refinance? Debt remains, lending is available, buy at right price
- Cash is King: Stay calm, conservative, and stable; with risk comes reward
Links and Resources Mentioned:
- Cornerstone Investment Partners
- 4M Capital Real Estate Investments
- L5 Investments
- Fannie Mae
- Freddie Mac
- HUD
- Flex Payment Solutions
- Kahuna Boardroom
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“It’s a mess out there, right now. It’s just a big question mark. I think it’s a wonderful time to pause, listen, and learn.” Mike Flaherty
“Right now, it’s preservation—preservation of capital, preservation of residents, preservation of the asset.” Nitzan Mosery
“We’re doing everything to make sure everybody stays working and employed. Trying to take advantage of this the best we can, while keeping everybody safe.” Maureen Miles
“People are amazing. There’s a lot of people that want to step up and do good.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.