Here’s the next podcast in the Smart Real Estate Investing series!
Marica and I talk about the invaluable expertise commercial real estate brokers bring to your investing.
René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker
Smart Real Estate Investing – Part 10
Marcia Edwards: Hey, René, since we’ve hosted together, we haven’t had a chance to talk about what your area of expertise is and why you have the strength in the areas you do. It is amazing how your mind works, and I’m excited to have you as a host. Let’s talk a little bit about your wheelhouse. What are your strengths for areas of marketing?
René Nelson: Well, one of my sweet spots is apartment complexes, and it’s probably because I’ve owned apartments for over 30 years, and I understand tenants and offering them a great place to live, and then I also understand the rough properties where it’s tenants, toilets, and trash. And that is a situation where maybe the landlord hasn’t done a great job maintaining the property at a good condition, and it’s probably time where the seller wants to get out of the property and move into something different, get ease of life and cash flow from a different type of vehicle, and it’s a great opportunity for a new buyer because they could come in and make improvements and really spiff up that property and get better rents.
Marcia Edwards: And I’ve gotta say, from my experience with referrals going back and forth, that you have a lens of kindness, understanding, you’re not going to shame them if they have deferred maintenance, you’re just going to understand it, own it, and help them get where they wanna go.
René Nelson: Absolutely. Well, one thing that we saw last year is there was a window where property managers really didn’t want to go in units or couldn’t go in units for easy maintenance things, so for little things… Big things like, “Hey, my pipe broke,” yeah, they’re going to get in there. But if it’s, “Hey, my door is squeaky,” or “My refrigerator was leaking,” last year a lot of the property managers did not go in for those maintenance items. So they’re playing catch up now for that.
I’ve seen some units where there’s holes in the linoleum and the bathtub has no caulking around it. Okay, that’s long-term deferred maintenance, that’s not related from last year from COVID, but you know, I understand from a landlord’s position, if you’ve turned it over to professional management, you may not have walked through your units in the last two or three or five years.
Marcia Edwards: I was going to suggest, do walk through them, not looking does not mean it’s not happening. To face that and face it with someone like René who has the expertise lens, say what the buyer wants when it’s time to sell it, even if it’s not today that you’re selling, it’s time well spent. So thanks for your expertise and joining the show, René.
René Nelson: Thanks, Marcia. We need to come back and talk about your expertise.
If you’re considering investing in commercial real estate, René is here to help. To learn more about what options are available to you, schedule a 15-minute discovery call today.
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