Best time to build your Real Estate Investment Business is today
First I want to wish you all the best during these times for you and your family. I am keeping everyone in my prayers. I must say, I have been through market crashes due to economic reasons and never a pandemic.
Right now is the time to double down on your business. I have been working with all my students and reaching out to every lender, asset manager, investor in my network. I also made a plan to also reach out to every tenant we have in our portfolio or property manager to review a plan of action just in case there is any issues. The moral of the story is not to sit and put your head in the sand. Get in front of potential issues and also get working on your business, especially learning to raise private money.
In 2009 I almost lost everything due to banks and HML's. They controlled my business and had 8 deals ready to close retail after rehabbing them with another 3 in escrow where my deposits were hard. I lost every deal and swore that day, I would never depend on a HML or Bank again. This is 2000 all over again. What you do today will decide your fate going forward. This is a time to get your business and personal affairs in order to come out of this stronger than ever.
I know I was planning to do a live meeting to help all those in my general area for FREE... Due to whats going on, I still believe its the time to help as many as possible that want to help themselves, so I'd love to set up a zoom meeting for anyone who would like to network online with others in the space and we could all help each other in the business for FREE.
Be Safe and Wish you all the best.
Dan Zitofsky