1. Be Quick And Agile
In market upheavals, you must be very quick to act. How do you attain quickness? Information and quick decision making. You need to be plugged into great sources prior to any incident happening. Building out a network of advisors that you trust beforehand so that you are prepared is essential to getting the right information. Being diligent to maintain those relationships will always prove useful. – Amy Tiemann, TM1 Properties
2. Lower Your Costs
Take a look at the operating cost of your existing portfolio. Are there ways you can lower costs in marketing, utilities or overhead? Can you refinance to a lower rate? Examine your cash flow, but be careful. There are different types of cash flow that can be deceiving. Be informed with your numbers and know them like a hawk, specifically your operating cash flow. – Kevin Palka, MVP EQUITIES Forbes Real Estate Council is an invitation-only community for executives in the real estate industry. Do I qualify?