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.