Commercial Real Estate in 2020 Recession

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“So here i am traveling on the road and trying to run this by myself myself so hope you guys are great i want to do a video today on real estate for the car down zone commercial real estate in the 2020. What clearly is going to be a massive recession. I don t want to take that and make that lightly and i also don t want to terrify anyone. But this is going to be an epic epic event without a doubt commercial real estate and the 2020 recession.

I ve been calling a recession now for some time let s see if it clears up okay. I think it cleared up now okay. I think it cleared up. Now i hope you guys are doing great today grant cardone here in the cardones zone every monday.

I come to you talk about real estate. How to invest in it how to buy it how to manage how to keep it how to exit. It today i want to talk to you about what is going on right now and how commercial real estate will be impacted by what could be the biggest contraction. The united states has ever experienced so good news bad news bad news.

More bad news. It s coming clearly i just want to tell you guys. It s coming. I ve already contacted everybody involved on our side.

We have eight thousand apartments under ownership and management and we know that there will be an impact here. But if if unemployment hits thirty percent. Which goldman sachs is suggesting this morning. I think you could go that high.

I don t think that that s an exaggeration there ll be 45 million people unemployed. Our real estate will be impacted clearly ok people lose their job they can t make their rent good news bad news. I m gonna cover all of it ok so post your comments below am. I being am i exaggerating the situation am.

I creating problems by saying all this i m always been a transparent person and i will continue to be a transparent person and for me to think that there s not going to be in effect here. We laid out 42 people last week for my company take them through the end of the month laid out 42 people. We hope that we can hire them back as soon as we get on the other side of this we only let go of five people out of card on capitol four or five people out of court on capitol and we want to hire those five people back. So 37 people out of court on training technologies five people out of cardone capital and we also know that we have 8000.

Families that we re renting apartments to and we re providing assistance to many of them already in doing what we can to help them i have 3200 investors that depend on me to protect those properties. So is there a bloodbath coming. Yes okay will we survive this guarantee you we will survive. It and the thing to do if you own real estate right.

Now the thing to do is you have to manage that property like never before you have to manage the property you have to manage the tenant. You have to take care of the property. So that you can service. The debt and if you re buying deals right now you know i would i would wouldn t i don t know that you ll be able to get debt on a deal 30 to 60 days from now.

We re still actually looking at properties right now so we re gonna do the best. We can to number one take care of the tenant. Number two take care of the property number three service. The debt because we want when we get on the other side of this.

Okay. I know that the kind of real estate that we ve invested in that i ve been talking about for some time now the kind of real estate. That provides in great locations around jobs okay in warm locations. Where there s tax advantages to live in there those properties will always be necessary so when you talk about commercial real estate.

There s residential commercial. There is shopping centers. There s retail commercial. There s industrial.

There s a lot of different kinds of real estate. There s residential real estate that doesn t provide income okay. So i see your questions about how did i meet kevin hart. I ll tell you that in a second.

But i really want to address your real estate questions below so in comments. Please put your real estate question. There i ll do my best. Everybody is going to be impacted by this folks.

I know that there s people out there actually pulling yet this is really live. I know there s people out there that are actually pulling against me right now like i want to see grant cardone go down okay on the other side of this folks i will end up with 28000. Apartments not 8 trust me people will need a place to live if you re out there buying apartments right now duplexes for plexus 10. Plexus.

20. Apartments. You are going to have a very very tough difficult time johnny why you asked me to join us zoom. Meeting.

Sabrina you don t have a you don t have a phone huh. I think johnny s asking me to join us soon maybe now johnny s video send me a video. I m doing better sales have gone. I can t i can t take your call call.

Johnny sabrina from the phone from the house phone..


So. What can you do right now. Okay first thing you got to do is you got to look at the property that you have and manage it like you never have managed it before take care of the tenants number two you need to fill up occupancy. Where you can so we just offered.

I don t have his phone. Number you can send them an email right there though or just try to try to facetime on the main computer. We we just sent an email out to help people to help people that need housing assistant. Okay now there s a lot of laws in this country.

They re like fair housing acts. I can t actually offer housing to people for free because if i knew that for one person to have to do it for all people you guys can hear me right can you guys hear me if it is 30 vacancy. Johnny. What s up why do you keep inviting me to stuff well johnny.

I m on youtube right now live. So right now you re interrupting. My damn. See i got johnny i got johnny over there.

See we got all kind of stuff going on right now so johnny just be sure that we re functioning here because i got a lot of questions coming a lot of people are very very interested in this topic. So i m on a live stream right now okay. They say yes. But it s a bad connection.

Is it a bad connection. Johnny okay. So a couple things if you own a few in a resident. It looks like that they re gonna provide up to 12 months of relief on mortgages.

Yeah i have people still tell me it s a bad connection johnny either just tell me now. Johnny. You can t do it right now. Yeah.

They re coming in is choppy. They re saying. It s choppy. I don t know why it would be choppy.

I m gonna i m gonna dedicate your line right here so look we ve already made we ve already made what you what you got johnny is it good. Yeah. Good okay. So look let me just get this through with about even though in that connection.

So. The basic part of the conversation can be can be gotten through it to you number one okay. If you own the kind of real estate that i own you are not going to lose that kind of real estate as long as you do a couple things. Number.

One talk to your lender stay in communication with your lender oh a billion dollars to fannie mae freddie mac teachers credit union and in another bank johnny you can dump up now. I am in communication. With my lender. Stay in communication.

With your lenders. Communicate with your lender. Talk to your lender. Tell.

Them. What you want to do okay. Number one when i call my lender. The first thing i say is look i m here for the long haul.

I m here to take care of the property. Okay number three. I have to take care of the tenant. You have to take care of the lender.

The property and the tenant and so there s no reason for people to lose property as long as you take care of your tenant over deliver as long as you haven t over debted yourself over leveraged. The debt borrowed more money than you should have which we have not we think cashflow will be hit. But we believe i believe because i always invest for 10 years. I invest for 10 year term.

That s why we set our term up the way. We did at our real estate portfolios is about to buy properties today for an exit. Eight to ten years out you never want to exit in this kind of market now all that being said. There s a lot of people that don t do what i m telling you guys to do and there s a lot of people that aren t gonna do what i m telling you guys to do okay.

Which is pay attention to the tenant pay attention to the lender pay attention to the property. A lot of people go into these events undercapitalized. They can t take they don t even have staff to talk to the lender. We ve already been in touch with our lenders.

We re already in touch with every property..


We re already in touch with our tenants. We re already in touch with our investors saying hey. This is where we re at this is an epic global event beyond. Anybody s imagination and everyone will be affected period.

There s there s no getting away from that that that that reality okay now what did we do now that we know that what do we do we have the best real estate possible in the world. When this is over shopping centers. Some of them will never never fill up again office buildings. Okay.

We ll probably be at 70 occupied in office buildings nationwide three okay rent delinquencies will go up because people lost their jobs. But once that moves through the system. Okay. I believe apartments will be a safe haven for cashflow capital protection.

And capital appreciation. Why because people have to live somewhere. Food water housing and if you don t have the housing. You don t have number three you have no place to store.

It number one and number two food water housing. Okay it s simple folks now if you re losing your job at this moment. And you live in a property. Okay.

I m telling you the last thing you want to give up right now is that unit focus on finding a good job. Amazon is gonna hire a hundred thousand people and they re doubled their minimum wage. They need people right now go where the jobs are right now. If you lost your job.

You want a stable place to live. We offered housing assistance. This weekend. Put out an email to my my my database.

And said hey we re offering housing assistance. Where we can actually offer people three months of housing assistance for new for new tenants to help people because of this coronavirus situation and we can t do it for free. But we can figure out some kind of way to help people at this very crucial time so we want to help you i m gonna be here to help you i give you this information today on youtube to tell you if you own the kind of real estate. I ve been buying now for years in 2008.

He came back 1995. He came back in 2000 and came back in 2001. It came back in 2015. It popped it will come back because people have to live someplace so be in touch with your lender talk to your lender.

Hey. This is where i m at this is my staff call them up there s my staff is where i m at this is what we owe you this is what we pay you i m gonna stay in communication with you every week every two weeks. How often you want the communication. I ll give it to you every day.

If you want that relationship you have with your lender is vital okay. So i m here to help you understand where we re at number two stay in touch with your tenant. Make sure your tenant is being communicate with anything i can do to help you how can i help you how can i assist you how can i work with you don t lose your place. Okay who can help you make your rent how can i help you there can we move you to a studio rather than a two bedroom whatever.

The case is how can we help and assist our tenant. The third thing is you have to take care of the property secure your property take care of it have capital set aside for water problems paint problems maintenance issues. Take care of the property. Okay for all of you out there that may be in transition.

But i have friends that are in miami they live in new york. They were in miami and they re like hey man. I need some housing for the next two months because i don t even want to go back to new york. I have friends right now that we re in panama city on vacation.

Hey they want to go back to chicago and they re like i can t get back to chicago right. Now cuz this mayhem can you help me we have properties. This is for people in need okay. This is for new tenants.

If i can help you we have property in houston sugar land austin texas mobile alabama savannah georgia panama city daytona st lucy ormond beach miami mrs sutphin delray beach naples florida if you re in any of those markets. I think i got everything if you re in any of those markets and you need three months of housing. I can t do it for free. But i can help you okay email or go to grant.

Cardone. Comm. Ford. Slash apartments grant cardone calm for it slash apartments grant cardone comm forward slash apartments.

I have property in houston and in sugar land for some reason. People said. Don t go to sugar land sure land is one of the nicest suburban neighborhoods in all of america so i don t know why somebody wouldn t want to come there but naples is awesome i got a property in maryland. I forgot about i got property in maryland.

Most of these properties are 95 occupied some of them are 98 occupied i have one property with 234 units 233 of them are occupied so i can t promise you that i have a place for you we do have limited housing..


I ll also tell you this for you guys out there doing real estate. We had the highest renewals in the last week. I have ever had in my entire career. We had the highest renewal rate.

I ve ever had in my entire 35 year career confessed in real estate. Okay. Now the good news is there any good news in this yes okay it looks to me like when i heard this morning on the news doesn t make me an expert. I m not an economist.

I m not in the government. I think that every asset class. Particularly something as big as apartments apartment debt. I m talking about the debt.

Now. We can reach about seventy five percent occupied and still be serviced the debt and expenses. What you don t want to do is build a service debt. Only and not the property you got to build a service to property because once the owner can t service.

The property. He s going to quit service in the debt. So everybody can go two or three or four months without cash flow. Which you don t want to do is start going into.

I can t service. The property. I don t have any money set aside for for maintenance. We have money set aside for maintenance and servicing the property and then we want to service.

The debt and then anything left over its cash flow to the investors okay hey spencer you don t need to feel bad for me man this is this is this is a i m telling you this is gonna be for those of you who your ethical you take care of things you take care of tenants. You take care of properties. I share you on the other side of this i m annie and much bigger than we are right now okay. Because there s a lot of guys like me that are investing like me that they re undercapitalized.

They re over leveraged. They don t have a team and they will not be able to swit stand the test. So if you re an operator. Now s the time to be an operator now.

It s the time to be an operator. Okay and and if you if you re a smart operator. Now s the time to get real smart. So that when people that don t operate their properties properly come over you re champions.

When when people that don t operate their properties properly. The lenders who don t want to be managers will call you up and say hey we got properties here these guys can t handle it do you want it do you want to run these properties. So we want to help you guys if i every monday. I ll come here and continue to do a show on a real estate and what we re finding out we re learning.

We re all learning together right. Now. Gerald says you look just. George the jerk.

Joe sees. You look just like your mama. But she acts just like me i ll continue to give you updates on the real estate whatever happens next week. I ll let you know april april 1st.

We have rent renewals. So we re going to see that last last week. We found out our about our renewals next week. We ll find out about people paying their rent can they pay their rent.

How do they pay their rent. It s the rent. What they let go of is the car what they let go they re gonna let go of something if you lose your job. You re gonna let go of something so we re all in this mess.

Together folks and good news is we will get out of this mess together and for all you guys out there hating on me and pulling against me and wishing against me man don t do that man that s fuel for me okay. All you gonna do is make me stronger cuz. I assure you i m gonna get through this and i m gonna get our properties through this and i m gonna get our investors through this at the end of the day when the stock markets out 40 30 in two weeks ten trillion dollars has been destroyed okay i m not selling any my real estate today never planned on it we bought deals last month. Okay i m not selling that real estate until 2030.

I ve had this conversation at least a thousand times. I don t sell right now. I didn t buy it to sell it right now. I bought it to sell it in 2030 you got to start thinking about 2030.

Where are you gonna be in 2000 25 26 27. 28. 29. 30.

Being rents are gonna be lower or higher..


I ve always said till you rinse could go lower right now. I always said to you always said hey unemployment can go up. I ve been playing in front employment. Okay that s why if you look at the cities.

Where i m invested in man except for this coronavirus. I mean you gotta have you got to have something of biblical proportions to affect the asset that i am in okay. Nothing s over leveraged. Nothing okay under 75 percent leverage on everything some stuffs as low as 60 don t be over leveraged.

If you are you re in trouble right now like turn the keys in to manage your relationship with your lender. Don t dodge your lender. Three take care of the tenant for take care of the property okay it s got any questions you can always email email. Me grant at cardone capital comm crane at cardona capital calm happy to answer your questions appreciate all your comments below again real estates.

The place you want to be folks people have to live someplace. Food water real estate. What kind of real estate. Though what kind of real estate.

The kind of real estate. Where people have to live. Okay. Office buildings are going to be hurt.

We work we works is the group to who s behind. We work south bank is backing out of their agreement. Wow. Because you don t need office buildings.

You re not gonna need as many shopping centers in america commercial residential real estate commercial residential real estate properties that provide safety security. Great. Residence pools. Amenities.

A community. Some kind of community. Okay when this thing s over with people are not gonna want to be by themselves they want to be in a community. So this is where fortunes can be made right now.

But you cannot make fortunes in real estate. If you damage your relationship with the lender. The lender. The tenant.

The property or your investors okay so just pay attention right now man you must have just done your fingernails out. They smell like i m sorry. Just make sure you re taking care of your tenant. Taking care of your relationship.

With your lender. Taking care and communicating with the lender and your investors. If you have people. Investing with you i have eight thousand families that live with.

Us 3200. Investors that have trusted. Me okay banks that have lent me over a billion dollars that trust me with the money stay in communication be transparent. Tell the truth tell them where you re at this is a worldwide global epidemic of biblical proportions now it s not the time to hate on somebody okay.

Now it s not the time to to chop people up don t wish against people right now pull together right now okay. How you treat one another right now. He s gonna be everything. So.

You re gonna have to cut back on something be sure the things you cut back on aren t the things you re going to need three months from now six months from now nine months from now a year from now make sure that whatever you re hating on today bitching about today. Okay pissing on today. You don t need in the future and relationships relationships are one of those things so take care of your lender. Take care of the property.

Take care of your investor take care of your tenant. Not in that order either okay god bless you guys be great okay and hang in there everything s gonna be all right. We will get on the other side of this 10x everything right. I wonder how save this how ended i love you guys we were feeling it i don t know how to end it okay let s try this one we try that but i don t think that works.

I said boom just end it yeah bang are you scared. No are you sure you want to stop streaming. No no not me bye. ” .

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