Thank you Bruce Percelay from The Mount Vernon Company for joining the BRA Morning Zoom. Key takeaways include:
  • Because the last boom was so long, people lost their investment discipline.  For someone in the real estate investment business for only the last ten-years, you exclusively saw sunny skies.  The experience of the next few months will teach you more than any book.  Moving forward, cap rate should make sense.
  • Owner/operators should spend time on making their buildings healthier for tenants.  For example, individualized HVAC.
  • If you give up or don’t stay present, you will miss the opportunities.  Be clever.  Be nimble.