Though we are living through a time of immense tragedy and chaos, we are also seeing incredible opportunities abounding in real estate.
Right now is an excellent time to make intelligent and timely financial moves as well as serve others. Opportunities like this may not come along for another several decades. In short, there has never been a more urgent time in most of our lifetimes to act.
Here are just some of the ways real estate investors can profitably navigate the market and their money right now:
Value Add Improvements
Whether you are looking to acquire new properties or have existing real estate assets and units which need substantial renovations, this is the ideal time to take action. So, far contractors are one of the few categories of workers that are unanimously still able to work. Use this down time to complete value add improvements.
Winning New Tenants
There are going to be a lot of struggling landlords out there. Many will drop the ball on service and maintenance. At the same time, there is high motivation for renters to move and homeowners to sell and start renting. Utilize video tours and virtual showings to show up and win these new leases.
Optimizing Systems & Profitability
There are still many underperforming properties out there. This will be made worse by current and recent events. This is your chance to step up and take over these assets. Then, optimize them for cash flow and efficiency.
Acquiring Assets At Discounts
Some sellers will be liquidating real estate assets at fire sale prices. They weren’t prepared for this and are panicking. There is also less buyer competition as others adjust or miss out with a wait and see approach. These could be some of the best acquisition deals we’ve seen since 2011 and may see again in the next 15 years.
Raising More Capital
From individual high income earners to average individuals with sizable retirement accounts, the pressure is on to act fast to restructure portfolios. They must move immediately to avoid harsh losses in other assets, and find new opportunities for cash flow and wealth protection. This is a great time for them to take advantage of extended tax filing deadlines for 1031 exchanges, moving to and maxing out contributions to self-directed 401ks , IRAs, and investing in passive income producing multifamily apartment buildings.