We can all agree that this moment is unprecedented and now is the time to be working on the best strategies for coping and laying foundations to weather similar future storms. Joining us today to speak about how her company is dodging curveballs is Anna Myers from Grocapitus Investments. Anna shares some valuable advice for listeners both from an asset management standpoint as well as with regard to how teams should be working together. She weighs in strongly on the value of working with property management firms who have a disaster plan in place, and people shouldn't be scared of using each other’s ideas if they are good ones. It’s about implementing whatever knowledge we can to survive right now. Anna also talks about how her team has switched their mindset from a wealth generation to a capital preservation focus. Our guest gets into some of the specifics of how Grocapitus is dealing with tenants right now, touching on the fine line between offering assistance, filling units, keeping rents paid, and making sure not to accept people who might cause trouble. For some great tips for switching gears and traversing this unfamiliar terrain be sure to tune in.
Key Points From This Episode:
“We really have to team up with our property managers on this. We have to have really, really tight communication. This is a whole emerging world we're in.” — Anna Myers [0:03:21]
“We don't normally have this type of situation where we can't use the eviction as a threat.” — Anna Myers [0:06:02]
“Our number one initiative right now as asset managers is capital preservation of our investors.” — Anna Myers [0:07:59]
“Yes, you can buy real estate in this time.” — Anna Myers [0:11:28]
Links Mentioned in Today’s Episode:
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