OPPORTUNISTIC INVESTORS LIKE MYSELF ARE ALREADY SEARCHING THE MARKET FOR DISTRESSED PROPERTIES WHILE THE RISK-AVERSE WILL CONTINUE TO PLAY IT SAFE AND REMAIN IN AHOLDING PATTERN. ”
Opportunistic investors like myself are already searching the market for distressed properties while the risk-averse will continue to play it safe and remain in a holding pattern. Right now, a lot of investors are limited to looking at properties virtually but take it from me—real estate is a hands-on asset that needs to be seen up-close and personal. You have to see it in order to get a sense of the property’s potential along with whatever assets surround it. The current situation makes site visits, appraisals, transacting and closing a lot more complicated. This is why if you can’t go personally inspect a potential acquisition, it’s crucial to partner with an investment firm who can not only monitor the mar - ket constantly but also jump on a property as soon as it becomes interesting. It won’t be anything close to business as usual until the lockdowns end, air travel resumes like before, and people feel comfortable about traveling and interacting in person. There’s no doubt that the real estate industry will be permanently transformed after the pandemic just like it was after the Savings & Loan collapse, the tech bust, 9/11 and the Great Recession. Thankfully, every- one agrees that the worst is behind us and the econ- omy will be much stronger in about a year from now. By 2022, we will be stable and even thriving again. After all, new challenges bring new opportunities.
Grant Cardone owns and operates seven privately held companies, and a $1.8B real estate portfolio as the Founder and CEO of private equity real estate firm, Cardone Capital. Cardone is also the founder and leader of The 10X Movement and The 10X Growth Conference, which is now the largest business and entrepreneur conference in the world. Moreover, Cardone founded the Grant Cardone Foundation, a non-profit organization dedicated to mentoring underprivileged and troubled youth in character and financial literacy.
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