Did Your Properties Withstand The GFC

[Josh Oaten]

I am interested to hear some first hand insight from those of you who owned small apartments (3 - 10 units) or large apartments (100+) during the 2008-12 financial crash. I would like to hear about the major issues or struggles you went through with your properties during this period, and how you attempted too or did over come these. 

Better yet, I would be extremely interested in hearing from those of you that owned both large and small apartments in your portfolio during this time and how the two differed during this time for you.

[Brian Burke]

Originally posted by @Josh Oaten:

Were you cautious with acquiring properties back then, or did it blind side you?

I thought I was being cautious. I understood what was happening in the market. But I failed to realize how bad things can get. The old saying “everyone needs a place to live” is completely debunked if the thesis is that they must live in your apartment. And just because they need a place to live doesn’t mean that they’ll pay the rent or leave it in the condition they found it.