In our sixth webinar in a series exploring the impact of COVID-19 on landlords, Zibo CEO Chris Hsu hosted real estate entrepreneur, investor, developer, mentor and coach Greg Dickerson to share how he went from a Ship Serviceman in the U.S. Navy to become an entrepreneur with over $250 million in real estate transactions. Greg also gave his take on the current state of the real estate market, opportunities for investors and his advice on how to build and scale great businesses.
Here are some of Greg's best insights and advice from this webinar:
- Residential will likely remain the strongest real estate asset during the economic downturn. However, investors should conduct extra diligence when underwriting residential properties to better understand the nature and strength of tenants' employers.
- Keep an eye out for interesting redevelopment opportunities, such as turning hotels into micro-apartments and senior living facilities.
- Net migration (i.e., the different between the number of people entering and leaving a location) is the single most important statistic investors should consider when evaluating a market right now.
- If you're getting traction with your current investment strategy, scale it by learning from people who are smarter than you, and consider hiring them and empowering them to make decisions.
- Human capital — including your (and your team's) intelligence, time, and problem-solving skills — is the most expensive asset in a business. It's imperative to automate tedious tasks like rent collection with software so your team can focus on higher-level work.
Join us for another free webinar on Thursday, June 18th at 9am PT / 12pm ET. National Association of Residential Property Managers (NARPM) President Kellie Tollifson will discuss how COVID-19 has impacted property managers and what it means more broadly for the real estate market.
These free webinars are part of the Zibo series "Helping Landlords Navigate the Impact of COVID-19." As the current health crisis takes its toll on the economy, independent landlords across the U.S. are wondering how they’ll make their next mortgage payment and navigate this uncertain time. We hope these free weekly webinars provide the opportunity for landlords to have candid conversations with other members of the real estate community, learn best practices from experts, and apply strategies to stay afloat during these unprecedented challenges.