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.

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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.




Angel Williams Host
Reach out to Angel and find out how you can collaborate and come on the show!

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