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2009 Wrap Up | International Residential Real Estate Investors Association
Monday September 25th 2017

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2009 Wrap Up

During 2009, we’ve seen many projects run into problems as loans came due and changing values, changing ratio requirements for Debt Service Coverage, changing Loan to Value expectations, softening occupancy, and other issues began driving ever larger numbers of multfamily projects into default and into foreclosure.

For 2010, the industry must return to basics and step up commitment to assure effective due diligence.  The time to save time and money is not during due diligence.  In fact, as an industry companies that step up their game providing a new level of due diligence focusing on a range of factors:

  • Assuring asset value to support the purchase.
  • Maximizing the right marketing plan to rent up and maximize revenue.
  • Creating plans to increase asset value down the road.
  • Developing plans to minimize maintenance and support costs.
  • Developing an integrated complete business plan for the purchase.
  • And so much more.

2010 and beyond will require more discipline, focus, and skill than Investors needed in the past… Are we up to it?

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