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.