National data suggests that workforce apartment owners are seeing a higher rate of rental collection loss early in this downturn.
This week we talk with Andrew Reichert and Daniel Croce of Birgo Capital about how the COVID19 related slowdown is impacting their business and what steps they took early on to understand the economic makeup of their tenant base so they could better predict future performance. Birgo Capital is an owner-operator of B & C class multifamily properties in the greater Pittsburgh, Pennsylvania metro with 1500 units and $120M in Assets Under Management.
Watch this episode to learn:
* Why studying local market trends is more important than reviewing national data
* What rent collections were like for Mar & April & May
* How stimulus payments have impacted rent collections
* Why in-house management can be advantageous in this market
Get Smart and Invest Smarter with the Apartment Investor Show where JC Castillo and Paul Peebles interview top industry experts and discuss current market trends, investment strategies and fundamental concepts to help you make smart multifamily real estate investments. Visit our website at: http://apartmentinvestorshow.com/
JC Castillo has spent the last 13 years helping investors profitably navigate the ups & downs of a full market real estate cycle. In 2006 he founded Multifamily Property Group, a vertically integrated private equity firm focused on large scale value-add apartment properties in select US markets. Learn more about Multifamily Property Group at: https://www.multifamgroup.com/
Paul Peebles has been arranging real estate financing for borrowers and institutional clients since 1987. Mr. Peebles is the National Underwriter at Old Capital, underwriting and structuring all transactions handled by the company. Learn more about Old Capital at: http://www.oldcapitallending.com/
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