The coronavirus has impacted all Americans yet the real impact for multifamily investors is still unclear. As a passive multifamily investor and adjunct professor of economics, Angel Williams believes economic vacancies could go as high as 40%. She advises investors to focus on retention, not pushing rents during this period of uncertainty.
Angel is the Co-Founder of The Academy Presents and Managing Partner of Lorren Capital, LLC. The Academy Presents is hosting the Real Estate Investing Rocks Digital Summit this weekend. In this episode, we talk about the digital summit, the impact of the COVID-19 outbreak, and lessons learned from passive investing.
Key Insights
She focuses on passive investing, while her husband looks to be active as a General Partner
Was a bit naive on first couple of passive investing deals
Likes communication from operators and wants to make sure the personalities click
Realizes current Coronavirus lockdown may have a major impact on the economy and multifamily investors
Hourly workers will be impacted worse than salaried employees
Pushing rents too much may force families to live together
Impact could last 12-18 months, but there is no clear timeline
Would not be surprised if we hit 40% economic vacancy
Quit job as a middle-school teacher due to red tape with the administration
Focusing on education side of real estate investing with the launch of the Real Estate Investing Rocks Digital Summit
Event has 24 speakers from multifamily, AirBnb, wholesaling and more
Bull’s Eye Tips:
Resources:
Apparent Failure:
Wanted a massive launch for the summit and realized it was more about sharing the knowledge
Most Recommended Book:
10x Rule by Grant Cardone
Most Recommended Digital/Mobile Resource:
Asana
Daily Habit:
Making the bed everyday
Wish I Knew When I Was Starting Out:
The benefits of small multis over single-family
Current Curiosity:
How to scale The Academy Presents
Best Place to Grab a Bite in Wichita Falls:
Fazmoz Carribean Cuisine (ox tails)
Connect with Angel:
FB: Angel Renee
FB Page: Real Estate Investing Rocks
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