What is the best tactical advice you would give in this market?
Real estate goes in ebs and flows. Right now, I feel like real estate is facing a ton of external forces be it interest rate, rising costs in the form of inflation combined with stagnant revenue. Given the environmental factors, what are some good tactics you are utilizing to be more efficient given these market conditions?
Personally, I've decided to take as many costs in house as possible. Be in having handymen on staff to keep repair costs low, having painters and people on staff that can complete unit turns at 50 cents on the dollar or even ordering materials from oversees at 40-50% of the cost, e.g. LVP, cabinents. I'd love to learn what other operators and investors are doing in this market.
- Andrew Freed
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- 781-964-3200
- Podcast Guest on Show #69