The Real Estate Think Tank Podcast: Episode 1: Welcome to TRET

Please join us for the first episode of the The Real Estate Think Tank Podcast. 

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The Real Estate Think Tank Podcast: Episode 1: Welcome to TRET 

Why Most People Don't Get Rich In Real Estate

Initially, I intended this post to be a continuation of my prior post on how to get rich in real estate. I was going to address the barriers to entry that most people confront when attempting to begin a career in real estate and offer some suggestions on how to get around them. I am still going to address some of those barriers, but upon further reflection, I think that there is a common theme amongst most of the reasons why most people do not succeed in real estate when they wish to do so—motivation.

This may seem harsh, but please let me qualify my statement by saying that it is not easy to maintain consistent motivation. Having sufficient motivation to push through real estate losses, market downturns, bankruptcies or even years of unfruitful prospecting takes inner strength. During down times and after particularly difficult lessons in real estate, it can often feel like the experience was a sign to quit or move in a different direction. It takes true motivation, self-confidence and some self-delusion to look at a negative real estate experience, learn from the experience and continue on. This motivation is intrinsic and it only comes from a goal-driven approach to make it in a real estate. Quitting can never be an option. To that end, I want to share the following link to “The Strangest Secret” by Earl Nightingale, in the hopes that it is helpful to someone.

The Strangest Secret: Earl Nightingale

Having addressed the role of motivation, let’s take a look at the primary reasons for not succeeding in real estate and address them:

Not Enough Money, Credit, Funding

The financial barrier to entry into real estate deters most people trying to enter the market. I have written about this many times, but I have no problem reiterating that there are many ways to get started in real estate without using money or credit. I want to be clear, however—real estate investment is not the only way to make money in real estate. I definitely believe it to be the most lasting and transferable way to accumulate real estate wealth, but there are other ways to make money in real estate. Obtaining a real estate license or securing employment in as a real estate professional are both ways to begin a real estate career with little or no financial investment. A career as a loan officer, appraiser, attorney, property manger or any other real estate service professional will not only expose you to real estate markets and provide you with an invaluable real estate education, but can also lead to wealth through hard work. This wealth is bounded by the amount of hours that you can work and is not necessarily transferable, but it is feasible and requires a much smaller financial investment upfront. Moreover, the knowledge and experience gained in a real estate service career can lead to a transition to a more informed investment career.

Focusing on the real estate investment arena, there are a number of ways that you can begin with little or no money upfront. Birddogging and whole selling are both real estate investment methods that can require little to no money down. If your sphere of influence includes people with disposable income, creating a presentation and requesting investments from those that know, also takes a minimal financial investment. It may take an emotional investment to try to make such a presentation, but such experiences are part of growth. You can also save up over time, work on your credit place yourself in a position to invest in the future. Keep in mind the quote by Bill Gates: 

    “Most people overestimate what they can achieve in a year and underestimate what they can achieve in ten years.”

No matter what your financial position right now, you can become a viable real estate investor with a down payment through focus and determination. If ten years seems like a long time, plan to do it in five or three. The bottom line, however, is that three, five or ten years will pass even if you don't work to improve your financial situation, it only benefits you to make sure that you do so while this time is passing.

The Market Is Bad

Markets are cyclical and we inevitably find ourselves in a down market at some point. A down market, however, is never an excuse not to start your real estate career. Although down markets may affect real estate hiring and the availability of funding, there are opportunities to invest and enter the real estate service market during any market. A down market merely signals a shift in strategy. I have written previous posts about how to navigate a real estate downturn. Please feel free to scroll through this blog and read them. As reminder, however, the lack of funding that usually takes place during a down real estate market necessitates creative financing like seller financing, buy-leasebacks (commercial real estate only), private lenders and syndications. Landlords can avoid pitfalls during these downturns by keeping reserves during times and prosperity, being very meticulous at all times with vetting tenants and by searching for ways to improve expenses and management during the lean times.

I Don’t Have the Time

This reason is a very popular one. Many people feel that they have the desire to succeed in real estate, but lack the time. For this reason, I have one question:

What occupies your time?

We certainly make time for the things that we deem essential. Many times, however, the non-essential items can inadvertently sap our time and energy. To that end, its important to be acutely aware of things that slowly leech away your time like TV, Netflix, and mobile games. It is also very important to take the time to truly self assess and make sure that you are not prioritizing items falsely labeled as essential. Committing to success in real estate will require a serious level of candor during this time of reevaluation. 

Becoming successful in real estate also will require a change in lifestyle. It is also necessary to look at which time commitments you hold perpetuate your current situation. Every lifestyle consists of habits that perpetuate it. Keep in mind that changing some of these habits may even prove to be uncomfortable, as there is a certain level of comfort in predictability. Perpetuating success in real estate will require habits that create success. The habits may seem different, strange or even uncomfortable at first, but they will become second nature over time and will bring you toward your intended goal

I Can’t Find Deals

Finding investment opportunities is certainly a large concern for new investors. It can take some time to find the first set of deals, but consistency definitely yields results. In my experience, very soon after the first few deals come in, continued consistency leads you to a point where it feels like the floodgates have opened and soon the issue becomes that there are too many deals to be serviced. That said, below are a few ways that you can find your initial deals. This is by no means an exhaustive list:

• Check the local MLS;
• Post “We Buy Houses” signs (where permitted);
• Check/mail to the filings of lis pendens for foreclosures;
• Check/mail to divorce and probate filings;
• Attend garage sales;
• Contact for sale buy owner properties;
• Market to owners of vacant or high-grass properties;
• Check the listings for foreclosure sales;
• Sign-up for/attend tax lien sales;
• Call/contact owners advertising for tenants;
• Attend/join local real estate investment associations;
• Advertise online.

I am happy to explain these strategies in more detail in the comments, if you have any questions. I also want to mention that realtors and attorneys are restricted from undertaking some of the strategies.

Real Estate Is Not For Me

Now, this is the reason that I respect the most and my answer is very simple—“Don’t waste your time with real estate.” There are many ways to build wealth and real estate investment requires a certain level of passion and motivation, as described above. Real estate should be a path to and not a distraction from wealth generation. Realizing that real estate isn’t your arena is important step to finding your true area of interest. I encourage you to seek that arena and pursuit with your whole heart. 

In the words of Kevin Garnett, “Anything is possible!” Motivation is key. The best thing that a new or seasoned real estate investor can do is to find ways to kindle and feed that spark. Regularly revisit your "Why" and remind yourself of why you are seeking to succeed in real estate. Join a group of like-minded individuals and to continue to motivate one another. Read, attend classes, continue to learn and continue to improve.

Well, that is my take on the impediments to success in real estate. Please feel free to comment below.

How To Get Rich In Real Estate: The Proven Method

Welcome the first post of the New Year! A number of years ago I wanted to start a business purchasing residential mortgages in the secondary market. This was a significant time after the Great Recession of 2009 and although the smoked had cleared from that downturn, enthusiasm in the mortgage secondary market had not yet fully recovered. I knew that if I were to market my business idea, which I was positive was sound, I would have to not only formally document it in a presentation and a business plan, but would also have to show actual positive implementation results. I realized that I would have to raise a small amount of capital to implement this strategy on a small scale, so that I could present it to larger investors upon its successful completion.

In service to this idea, I spent a few weeks attending business classes and drafting a business plan in order to present the idea to potential investors. Once the business plan was complete, I brought it to the Small Business Administration to have another set of eyes on it. The plan was essentially complete and required some quick format changes to meet the SBA’s format. The changes were made quickly and the submission process was promptly completed. A few days later, the SBA gave me a final opinion on the business plan. The review wasn’t groundbreaking—it merely confirmed that the plan was complete, but the necessary next steps were Earth-shattering in their simplicity.

The SBA suggested that I seek out angel investors and pitch my idea to my sphere of influence, however, it also offered an alternative:

•    Save up enough money to put 10% - 20% down on a house in a local    market;
•    Purchase an undervalued or affordable property;
•    Prepare the property for rental;
•   Find tenants to rent the property;
•   Use the rent to pay the mortgage and build up equity;
•   Refinance or sell the property at the first available opportunity, using   the cash to fund your next venture.

It really is that simple…at least in theory. Believe or not, it is also very possible for most. This strategy is an expanded version of the popular BRRRR-Buy, Repair, Rent, Refinance, Repeat, strategy that is frequently discussed on the Internet and in real estate investor circles around the country. I didn’t receive it from a local investor or from a get-rich-quick website or even from a seasoned member of the real estate community trying to market a coaching program, however, but instead from the federal government. There can be no greater confirmation of the reliability of this strategy.

There it is. I’m definitely not the first to reveal this to the world and I won’t be the last, but let’s explore each step of the process more in depth:

Save Enough Money

The cost of entry is and lack of credit are the most popularly used reasons cited for not investing in real estate. According to the NAR, the National Association of Realtors, the median home price in the United States is $310,880. Admittedly, saving $63,000 can be outside of the means of most, but there are many local markets which have properties for sale for less than $200,000.  If saving $20,000 to $40,000 seems to be an untenable amount, the average cost of a new car in November of 2020 was $39,259, according to Kelley Blue Book. Assuming a poor/fair credit, causing a higher interest rate of 6%, a new car financed at 100% for the typical 5 year term, would cost $682 a month. A used car costing $20,000 with the same interest rate and no down payment would cost $387 a month. If those payments sound to high, a $17,000 car under the same circumstances would cost $329 a month. Due to the interest built into those monthly payments those hypothetical cars would be purchased at a near 16% mark-up. Interestingly, placing $333.34 a month in a savings account with 0% interest would allow a person to save over $20,000 in 5 years. If five years seems like a long time to save, please keep in mind that five years will pass whether or not you save at all. Furthermore, most people have bills that they have paid consistently for more than five years for services, cars, cell phones, etc. If necessary, a down payment can simply be thought of as another bill—your Independence bill. There are certainly quicker ways to amass a down payment—credit, borrowing from friends and family, birddogging, whole-selling, but one things is clear, the barrier to entry is not an impossible hurdle.

Purchase An Undervalued/Affordable Property

This is probably the second easiest step of this the method. I don’t want to be misleading, it certainly takes a great deal of effort to locate a property that works best for your personal situation, but this is the step during which the most support is usually offered. Finding a real estate agent with whom you can work is essential to this process. Although it is both possible and likely that the property that is chosen for investment is not found through an agent, the access to market information that  good agent has, as well as the benefit of their transaction experience can be invaluable. That said, it is important to look for a property that is at least in your price range and at best is undervalued. It is also essential to stick with an area of familiarity, if you have any. If you are a businessperson or are familiar with a certain type of industry, then commercial real estate may be your forte. In most instances, however, residential rental real estate is the easiest way to enter into the market as most people are familiar with either living as a tenant or living in residential real estate.

Although I highly recommend using a real estate agent, it is important to seek off-market properties sales, as well. Estate sales, for-sale-by-owner, speaking with local investors, tax lien sales and even memberships to local real estate investment clubs are all viable ways to find deals. REO sales are also a great way to find value, but those sales are very much on market and are always listed with an REO broker. I generally recommend not approaching a large REO broker directly as a new investor, as they typically have a long list of investors with whom they already deal and usually to whom they steer business. Anything that a new investor receives from such a broker has usually been passed by numerous times by other investors and for good reason. Establishing a relationship with small or “up-and-coming” REO broker, however, could prove to be very valuable, provided that their REO vendors are truly servicing that agent and not merely using him or her to test the market for their properties. Tax liens are also a great opportunity for investment, so long as you have time to investigate the property and a good title company and a good ESA company to ensure that there are no serious restrictions or environmental issues with the property.

• In your search, please make sure to avoid properties with the following issues:
• Located in an area that is unfavorable to rentals;
• Cannot be rented;
• Cannot be easily financed;
• Has really high taxes;
• Has serious repair issues;
• Has title issues;
• Has environmental issue. 

A good lawyer, mortgage professional and home inspector will ensure that you avoid any and all of those pitfalls. If you don’t know where to find reputable real estate professionals, an experienced realtor or real estate investor can provide you with contacts to professionals willing to assist you. Above all, it is important to maintain a balance of not rushing into a purchase, while not indefinitely sitting on the fence and never closing a deal. Although the old real estate adage—“The money is made on the buy,” is true, it is very important not to develop analysis paralysis.

Prepare The Property For Rental

Although I do not want to gloss over this step, as is it is a key step to this process, to ensure that this post doesn’t turn into a book, I will keep it short. Careful purchasing will ensure that the necessary repairs are not substantial. In order to ensure that you can handle minimal repairs, it is advisable to save an additional $5,000 to $10,000 for repairs. If this additional amount to save seems to be prohibitive, then please reduce the intended purchase price by $5,000 to $10,000.

Further, a reputable contractor is key to this step, however, there is no substitute for attentiveness. An owner’s presence during this phase of investment is key, both to show engagement and also because this is an important time for an early investor to learn more about the process of rehabilitating property.

Find Tenants To Rent The Property

If money is made on the buy, then finding tenants is where the money is secured. Tenants can be found through effective advertising and real estate agents. It may take some time to find the strategy that works best for you and the property’s market, but it is possible to create a pipeline of tenants for your rental or future rentals. It is also equally as important to vet your tenants to increase the likelihood that they will pay on time. Credit and reference checks are important to this process. You can either learn to how to perform these checks, which are not difficult to learn, or hire a vendor to do so. There are a few tricks of the trade, like never calling the current landlord of a potential tenant, as they are never honest about a bad tenant, but this can all be learned with time and research

Use The Rent To Pay The Mortgage And Build Up Equity

The beauty of owning a cash-flowing asset is that it pays for itself. Even if you were to break even with the rent after the mortgage payments is factored in, equity would still accumulate. In some instances, it may even be worth taking a loss merely to build equity, because appreciation works in tandem with equity accumulation. I would be very careful, however, not to take losses on a property in a depreciating market. That said, if you have acquired and rented correctly, this step is very passive.

Refinance Or Sell The Property At The First Available Opportunity

This is the payout. Just like the purchase, this is also a step where you will find a great deal of support. Every real estate professional loves working for a motivated seller and profit will be your motivation. Although any number of things can happen to delay a sale and marketing times may be longer than expected, depending on the market conditions, the finish line is in sight at this point. It is important to remember that all pricing should be well-informed and aggressive, if possible. It is always greater to take a hit of a few thousand on the asking or purchase price than bare the risk and cost of additional carrying charges, especially when a deal is imminent. Flexibility and creativity in closing terms and financing may also be helpful in avoiding unnecessary standoffs and allow both parties to walk away feeling like their needs were met through the transaction.

If the opportunity presents itself sooner, it might even be best to skip steps 4 and 5 and merely flip the property. That decision is entirely up to you. The most important part is that profits gained are used wisely and hopefully to buy more real estate.

Well, that’s my take on how to get rich in real estate. As I said earlier, the concept is simple, but the execution takes effort. Feel free to leave your comments below and please stay tuned for my next article—“Why Most People Don’t Get Rich In Real Estate."

The End of 2020: Now What?

2020 has been a life-changing year for everyone, literally everyone. From the global pandemic, to the fluctuating economy, not to mention the seismic shift in the perception of "going to work," it is safe to say that the world is different place than it was 12 months ago. Now what?

Every year Bloomberg Business Week puts out its "Bloomberg 50"--a list of 50 individuals that have made their mark during the prior year. Although this year's list contains a number of impressive men and women who were able to quickly mobilize and make moving, positive contributions during this tumultuous year, it is notable that not one member of this list was mentioned for contributions to the real estate market. In fact, there are many executives on the list that are touted for reducing the size and/or the footprint of their companies, which in many instances includes real estate divestment. Furthermore, Blackrock, a private equity that is well know for its real estate investments, has made the list, not for real estate, but for its renegotiation of national debts in South America.

The lack of presence of real estate in this list is yet another illustration of what was obvious to all real estate professionals--2020 was not the year of the major real estate transaction. As people hunkered down during to quarantine, the economy fluctuated and work-from-home became the norm, the real estate market dramatically changed. Mortgage delinquencies rose, office spaces became more available, the cost of materials trended upward and permits for new projects trended downward. Migrations from urban areas also took place en masse in March and April as those with the means and desire to seek less crowded surroundings during the spread of the pandemic did so. Although the amount and duration of this recent migration may be disputed, the effects of this exodus have noticeably shifted the dynamic in many local real estate markets, for better or for worse.

As asked earlier, "Now what?" Anyone that has paid even a little bit of attention to this blog over the years knows that I do not "do" doom and gloom. There is always opportunity in change and if there is one thing that 2020 has done well, it is that it has exposed a number of opportunities. From the rise of Special Purpose Acquisition Companies to the consideration of rezoning in urban areas, opportunities to add value, create wealth and thrive in the real estate market are going to present themselves throughout 2021. Rather than make a brief list of some of these opportunities in this post, I will attempt to explore them more in depth in posts throughout the upcoming year. 

Instead of looking back on notable movements in the real estate market during an unprecedented time, I have decided to look forward to the apparent opportunities of the upcoming year. So, please join me as The Real Estate Think Tank.com celebrates its 10th year in existence in 2021. It has been a wild ride thus far, let's conquer next year together. 

See you in 2021.

Let’s Not Forget the Expenses

When either forecasting, underwriting or simply checking the figures on a deal, it is important to account for expenses. The mere mention of the word expenses immediately brings certain images to the mind of most real estate professionals, such as taxes, labor and materials. Proper accounting for such expenses, however, can make or break a financial model and skew underwriting assumptions. That said, it is important to employ the following practices to ensure that your expense estimates are accurate and reflective of the market.

Watch the Market

The market always is always newsworthy, but for real estate professionals certain metrics will indicate expense tendencies. One such metric or indicator is Housing Starts. Housing Starts are an indicator that closely predicts the residential real estate market. It tracks the number of construction projects that have started construction after filing for a building permit. This data is tracked by the Census bureau, which conducts random surveys of building permit filers. Other such indicators are the prices of timber, copper, steel and raw materials. Movement in the Futures for these materials is even more indicative of how the market believes these materials will fare, as these are the prices that people are willing to pay in order to make sure that they are not hurt by pricing changes.

Speak with Professionals

No one is more up to date on the trends of expense pricing than the very people whose livelihoods depend on them. Below is a short list of some real estate professionals that could be helpful:

Accountants: These number crunchers are great general resources for expense pricing, as they are usually deal with many different types of business and are privy to the costs amounts of many different markets. 

Contractors: Few professionals are as heavily affected by material and labor prices as contractors. As such, they are usually keenly aware of pricing trends. 

Local Governmental Employees: Assessors and other county, state and local staff are usually awesome resources for filing and governmental fees. They are also usually aware of any upcoming changes in these fees. 

Local Vendors/Suppliers: No one knows prices and pricing trends like the professionals selling materials.

Remain Flexible

Flexibility is crucial to proper prediction. Whenever forecasting or modeling, it is important to build in fluctuations into your expense assumptions. I typically account for an ambitious 5% year over year increase, with the understanding that if prices increase by a lesser amount or drop, my projected performance will only improve. Once notified of a significant change in a particular expense, it is important to update your models or calculations accordingly to ensure accuracy.

Accounting for expenses is an ongoing process that takes attention to detail. Accurate expense assumptions, however, can make or break your deal, so the effort is well worth it. That is my take on expense accounting. Please leave your thoughts below. 

Adverse Possession: Why It Makes More Sense Than You May Think

Photo by Louis from Pexels

As we wrap up the months of October, many images of the month come to mind—Fall, Halloween, pumpkin season, apple season and Columbus Day. Nearly two weeks ago, we all experienced the ever-evolving view of both Christopher Columbus and the celebration of his holiday. In contemplating my thoughts on Columbus’s role in American history and his appropriation of land, I couldn’t help but make a connection to the real estate concept of adverse possession

Adverse possession is the legal ability to take over the land of another person by openly and notoriously acting like you are the owner over a number of years. The ways that a person in adverse possession can demonstrate open and notorious occupation of land differ from locale to locale. Some examples of open and notorious possession have been constructing a fence, maintaining the lawn, receiving mail and, the most open and notorious of all, paying property taxes.

To most, the taking of land from a landowner seems to fly in the face of the American capitalistic sentiment. “Redistribution of wealth” has been a threatening concept in our country since the Declaration of Independence and is often seen as antithetical to the American Dream of making your own way through your own efforts. Seen in the light of resource management, urban planning and blight prevention, however, the mechanism for adverse possession does make sense.

Photo by Tomas Anuziata from Pexels 

The motivation behind most zoning and urban planning decisions is effective, efficient land use. If land is properly categorized, zoned and used, the residents of an area of can all coexist with minimal interference and presumably live together more happily. Improper land use clearly interferes with coexistence. The factory that is emitting toxic waste will negatively affect a housing development next door and the adult entertainment establishment will clearly have some negative effects on the school that is located across the street. Such issues are apparent and can be solved through zoning laws and decisions. Neglect, however, is a form of misuse that cannot be effectively managed through the zoning code. Although local laws can require certain maintenance standards, a neglectful landowner will likely ignore the consequences of not complying with these laws just as readily as he or she ignores the property. Neglected property will eventually lead to much larger issues, as discussed in this prior post.

Adverse possession is the remedy for protracted property neglect. It rewards the person who maintains a property and punishes the neglectful property owner. It requires such a high level of investment from the maintainer and punishes such a high level of neglect by the property owner that it cannot
reasonably be labeled as an effect method of property redistribution. The property owner that ignores a property for 7 – 25 years is effectively creating a dangerous situation and is appropriately penalized for such neglect, as their actions have a direct effect on those living and working around the property.

Although the actions of Christopher Columbus and their consequences may be questioned, the necessity of a mechanism like adverse possession is clear. Extreme property neglect is harmful to a community and this old legal custom is rarely disputed. One of the measurements of a vital community, however, is how infrequently issues of adverse possession arise. 

This is my take on adverse possession. Please feel free to leave your comments below.

Photo by Tim Mossholder from Pexels

Lesson From the Pandemic For Residential Landlords

The effects of Covid-19 on the residential rental market are apparent—many jurisdictions have enacted rent freezes, landlord/tenant courts have been shut down and moratorium on evictions and foreclosures have been set. Moreover, the accompanying downturn in the economy has left many without the ability to pay rent on time, if at all.

Considered rationally, the need for all of the social safety nets put in place for renters is obvious. The only way to truly survive a global disaster is to band together and implement a series of solutions. Radical measures had to be taken to mitigate the global pandemic. “We’re all in this together,” is not just a motto, it’s a reality. As a society, we are tasked with taking care of our most vulnerable populations, because the repercussions of not doing so are far more expensive than the costs of their protection. In this instance in particular, increased homelessness and/or a wave of relocations due to a rise in home displacement would only serve to exacerbate infection rates around the nation. That said, here are some clear lessons that residential landlords can learn in the wake of this global event.

1.       Paying Tenants Are Worth Their Weight In Gold

Those who were able to enjoy relatively uninterrupted streams of cashflow during the past few months are truly ahead of the game. Finding tenants with the ability to pay rent on time and the willingness to do so is a difficult, but not impossible task. Great systems for vetting renters are key to doing so, but active, just and appropriate property management also plays a big part in the search and retention of paying tenants. Happy tenants are more likely to prioritize their rent expenses.

The compatibility of the property to its neighborhood is also key to the retention of paying tenants. Properties that effectively service the neighborhood’s population, such as those that are accommodating to the social and/or economic needs of the community tend to have renters that are more willing to pay their rent expenses. Although some of these characteristics can be relatively immutable, such as proximity to a popular bus or train line or to certain religious institutions, others are within the control of the building owner, such as providing high-speed Wi-Fi in areas that cater to the tech workforce. Whether immutable or not, these factors influence the rental experience of each tenant and can facilitate the connection that tenants have to the property, giving them further incentive to pay rent on time.

2.       Location Determines Approach

Once again the old real estate adage rings true—location, location, location. The location of a property, better stated, the laws of the jurisdiction of a property have a direct effect on the method of mitigation that a landlord can take for a loss of rent. In areas with more tenant protections, long term planning should be the order of the day. Tenant negotiations and/or buyouts, when legal, may be a viable, but time-consuming option. Analyzing and maximizing the value of one’s property in the interim will also be key. Utilization of advertising space, cosmetic upgrades of vacant units or even a higher standard of efficiency in building operations may all be necessary, as non-payments begin to resolve.

The same techniques can also be applied in jurisdictions with less tenant protections, as well, and will yield results. Their application, however, becomes more critical in areas where the law favors the tenant. Before writing off jurisdictions with strong tenant protections, please keep in mind that these areas typically boast lower cap rates, so if the price and time are right, exiting a property may be a viable option.

3.       Affordable Housing Is The Wave

Rental assistance programs, like Section 8, have been a lifeline to many landlords during this time. Some building owners have sworn by these programs prior to the pandemic and have been proven right. The government has not waivered in its consistency in rental payouts during the pandemic. Moreover, the relative scarcity of these programs makes them highly coveted by tenants, who tend to pay regularly to maintain their eligibility. The government has made it a priority to ensure housing program payments to stabilize rental housing and building owners should take advantage

By no means an exhaustive list, these three points are some of the many lessons that landlords can learn in the wake of this devastating pandemic. That is my take on this topic. Please feel free to leave your comments below.