110: COVID-19 Craziness: What’s The State of Multifamily?

Mar 31, 2020

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Everyone is struggling with the isolation and stress of an unknown future due to the COVID-19 pandemic. You’re not alone. Constant communication is crucial between owners, operators, tenants, vendors, and investors in the multifamily space.

Today, I'm talking to Nitzan Mosery of Cornerstone Investment Partners, Maureen Miles of 4M Capital Real Estate Investments, and Mike Flaherty of L5 Investments. They provide powerful and valuable insights into the current state of multifamily investments.

Topics on Today’s Episode:

State of Multifamily Market: Constantly changing due to COVID-19 impact
Take Care of Tenants: Incentives, waive fees, discounts, payment plans
Take Care of Staff: Avoid layoffs, stay working, and stay safe
Rent’s Due: Set expectations but be supportive, flexible, and compassionate
Best Gift Ever: Help those in need, whether it’s toilet paper or coloring books
Capital Market Loans: Private lending up; commercial mortgage-backed security (CMBS) on pause, Fannie Mae and Freddie Mac still going strong
Time to buy? Refinance? Debt remains, lending is available, buy at right price
Cash is King: Stay calm, conservative, and stable; with risk comes reward

Links and Resources Mentioned:

Quotes:

“It’s a mess out there, right now. It’s just a big question mark. I think it’s a wonderful time to pause, listen, and learn.” Mike Flaherty

“Right now, it’s preservation—preservation of capital, preservation of residents, preservation of the asset.” Nitzan Mosery

“We’re doing everything to make sure everybody stays working and employed. Trying to take advantage of this the best we can, while keeping everybody safe.” Maureen Miles

“People are amazing. There’s a lot of people that want to step up and do good.” Corey Peterson

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