Community Forum

What opportunities do you think will be available to real estate management professionals during these troubled times? How can you take advantage of them?

As Reggie said, "Amateur Hour is over!". I think this current crisis will help weed out the professionals in our business from the rest of the crowd. Those who hold designations will be sought out. Those who have a solid grasp of financial operations and analysis will be in a great position to assist the financial institutions who will be facing portfolios of property they are in no position to manage themselves. This will be a great time for those who want to stand out and shine to do so. Lots of opportunities await those who have the strength to weed through the mess to bring properties around and help those institutions work out loans and turn properties.

There is no question that this uncertain economy creates opportunities for property managers. The real estate doesn't go away, so a property manager is sure that jobs will always exist. And real estate with problems equates to opportunity for a property manager to show their skills. Fee managers are wise to keep in close touch with their local lenders to offer up their services to deal with foreclosures occur.

As an independent consultant I am amazed at the inquiries I've gotten for my services recruiting quality property managers. With the loss of jobs everywhere else, property management is still a growing field, particularly for property managers experienced at handling "turn-arounds" and receivership management.

Always look for ways to turn lemons into lemonade. Opportunity abounds for those with creativity to find a niche in the changing real estate market.

We have already seen an increase in investors looking for professional management. Additionally we have started working for receivers. Great fees, although not long term assignments

We have had many new opportunities in the last quarter. large commercial owner operators looking to out source real estate management, investors are picking up small investment properties like apartment buildings and bulk purchases of foreclosed single family homes, some small retail centers which in the past may have chosen to be self-managed but have chosen to hire a professional; the CPM. Also, there are are a lot of very good employees in the marketplace.

Fee management opportunities have been on the rise.

Hi I am in NYC and we have seen several large trophy buildings go into foreclosure . They are distressed because of overleverage of debt. Macklowe in NYC lost the GM building. Many people expected markets to keep going up and up and did not focus on the core competencies of management costs, operation and energy efficiency, project management in capital improvements and just got caught in the financial downturn.
I would start a fund that would buy cash for the foreclosures and maintain the discipline of the management fundamentals.

We own and manage, as well as provide consulting services, for student housing. It may not be completely recession-proof, but enrollment is still strong at most schools and growing at many others. Balancing a high-quality student resident experience with a high return to investers is both an art and a science, which we find very rewarding (personally and professionally).