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Listen to another great episode with industry leaders in real estate.

Leveraging the Situation for your Business with Jennifer Joyce

In this 4 part series, Jennifer highlights how to leverage the COVID climate for your business.

Part 1

Things you will learn in this episode:

[00:01 – 07:00] Opening Segment

● Let’s bring Jennifer to the show
● Jennifer shares about the things she has learned from starting in the single-family

“Take advantage of what is happening at the moment to get a lower price and additional discount.”

[07:01 – 15:29] Leveraging the Situation for your Business  
● Jennifer bought her first multi-family in 2007
● She discovered syndication about four years ago.
● Jennifer finally took massive action once she understood the concept.
● Assumption causal in real estate.
● Looking at some other loan products
● Jennifer talks about the impact of COVID-19 on the assumption.

[15:30 – 24:17] Dry Powder

● Jennifer talks about the dry powder strategy.
● The longer that this economic change happens, she turns it more to the buyers market.
● Moving away from the syndication model
● When it becomes a buyer’s market, and it is not performing at its top capacity, that’s when our best business plans are implemented.
● Jennifer talks about the accounted cost of educating your tenant to get a rental assistant.

Part 2

Things you will learn in this episode:

[00:01 – 05:55] Rental Assistance to Fill up the Application

● Jennifer talks about the challenges in filling up legal documents
● The responsibility of the property manager to educate the residents and collaborate with them.
● Shifting through the stuff and information that really matters.

“We are going to see some changes in the population across the country.”

[05:56 – 11:19] The Power-storming

● Jennifer shares about how she overcomes hard situation and find the solution. 
● With this strategy, you are using part of your brain that sits doormat most of the time.
● Jennifer talks about how COVID-19 change the landscape of looking for deals.
● Make sure that your financing could go for the long term.
● Go to the areas of population growth and migration.
● Tighten up the asset criteria

[11:20 – 22:31] The Mobility of Tenants in the Transition Period

● Jennifer talks about the mobility of tenants from different classes.
● The human elements and the amenities in trying to upscale
● Keeping the balance to keep your tenants happy and maintain the expenses
● Jennifer talks about the drive to be in real estate from the first place.
● The contribution back to others
● Provide a glimmer of hope in any forms
● Look at things more on how the world is changing and what will be the requirement to live in the apartment complex.

Part 3

Things you will learn in this episode:

[00:01 – 07:19] The Massive Migration and The Impact of COVID-19

● Jennifer talks about the massive migration that is happening due to the pandemic.
● The impact of the COVID-19 pandemic on the new constructions
● Jennifer talks about the reasons why the lumber price has jumped quite high.
● The broken supply chains

“In real estate, things do not just happen overnight, It happens over a length of time, that gives you the time to plan.”

[07:20 – 15:29] Mitigate The Risk Of Future Problem
● Jennifer talks about the stock market vs. real estate
● Mitigate the real loss on the second job lost of your Residents
● Preparing the health test for your property

Part 4

Things you will learn in this episode:

[00:01 – 04:49] The Change of The Key Players

● Jennifer talks about the lack of competition as a syndicator.
● The significance of strong operators to keep the business going
● The change in the key players of the industry in the next 5 years

“You can only control what you can control, so make it a positive thing in your life.”

[04:50 – 10:00] Economic Devastation
● Jennifer talks about doing our part in this situation
● Jennifer talks about the comparison between the situation in this pandemic and when the hurricane hits
● The impact of the government decisions at the different miles stones and how to respond to it
● Paying attention to what we have control over and spending our time on that
● The importance of having visionary and detail-oriented players in one team

[10:01 – 15:30]The Significance of Team Roles
● The benefits of being in syndication
● Jennifer talks about the significance of the role of a team
● Jennifer shares how to get the whole operating team to stay on the same page
● Final Words

You can connect with Jennifer on LinkedIn, Instagram, and Facebook.

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