It’s an unprecedented time for all of us, including real estate investors. As the economy has shifted and many businesses and individuals have lost their primary sources of income, there are a lot of questions about what the future of the market holds.
On this episode of Investing in Real Estate, Ken McElroy is back to share his experience and expertise with real estate in a changing market. We’ll talk about multifamily properties, commercial real estate, the future of the market, and so much more!
On this episode you’ll learn:
- Ken’s two main priorities in his business right now.
- The big changes in the retail industry.
- Ken’s predictions for the rest of 2020.
- And more!
Ken’s Two Main Priorities in His Business Right Now
During these times, Ken’s main focus is ensuring his mortgages are paid, and covering his operating expenses. He has a policy with his residents that allows flexibility. If a tenant needs help, his company will do its best to work with the tenant—including waiving late fees.
The Big Changes in the Retail Industry
Ken is seeing the biggest shifts in the retail space. Because businesses have not been open, they will struggle to pay commercial rent. There has already been strain in the retail industry due to e-commerce, but Ken predicts that the current economic situation will create vacancies and foreclosures in malls and commercial retail spaces.
Ken’s Predictions for the Rest of 2020
Ken says that April has not been a good predictor, but May will set the tone. Unless stimulus checks start rolling out at a faster pace, it could be much harder to collect rent in May and June. And while things are changing week by week, Ken sees loan defaults coming in the future.
Episode Resources
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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