As I've stated on numerous occasions, we’ll see a wave of distressed Real Estate assets up for grabs for pennies on the dollar. I am taking my preparation levels to the maximum extent. I desire to come out of this market correction with triumph.
Lately, I've been primarily focused on expanding my network of local investors, brokers, property managers, contractors, and most importantly, the small community banks. These small community banks are extremely vital in this scenario because they are willing to do everything in their power to help you achieve in your endeavors. It's inevitable that a majority of these community banks will possess a great number of high-potential, distressed assets in these next 6-8 months. And I know they won't have any intention of keeping these properties on their books so they'll most certainly be letting these go for pennies on the dollar. It's best that I build these relationships with the banks now so when that 6-8 month mark arrives, I've already got exclusive access to these discounted properties without having to budge. And on top of that, expanding my resources of property managers, contractors, brokers, and investors will only provide me so much creativity to utilize in this opportunistic process.
When April of 2021 hits, I will be sure that I've performed the necessary market analyses and due diligence, assembled a competent crew, and secured an abundance of investment capital.
My advice to you all: Don't be late to the party.
