Dear Real Estate Community,

 

There’s a lot going on in our world that is brand-new to the 21st-century real estate market. At every turn, real estate investors like you are asking: What should I be doing to protect my properties and assets?

 

While the national market is under careful scrutiny, savvy investors know that the hyper-localized nature of real estate requires specific, unique consideration for each property. That’s what our team at CGP has specialized in for years.

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Here are some things to keep in mind right now:

 

• Landlords: Communicate early and often with your tenants. Set expectations for rent payments moving forward. If you are concerned your tenant may not make rent next month, plan ahead by contacting your mortgage company to discuss your options. 

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• Renters: If your finances have been affected by COVID-19, make sure to familiarize yourself with resources and programs that are being offered by the city and by private local organizations and ministries.

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• Short-Term Rental Owners: Remember, your property is a long-term investment! While the summer may look different than anyone expected, the demand you have come to know will return in the future. Be smart and find ways to keep the property occupied and producing some type of revenue over the summer. Contact our team to get started today.

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• Home Buyers: Stay patient! Although supply is low right now, expect to see a surge of supply once the stay-at-home orders start to lift.

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• Investors: Tighten your numbers when analyzing deals. Be sure to increase your projected vacancy rates to be prepared if revenue slows while the world gets back on its feet.

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Now more than ever, it’s essential to have a real estate consultant to work with you - someone who is invested in your bottom line and finding the best path for your goals, not simply interested in their own commission.

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Our team at CGP Real Estate Consulting is here to help homeowners, buyers, and renters creatively navigate through difficult times. There are options to make sure your real estate assets are protected through this unforeseen pandemic. 

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Don't hesitate to contact me directly at (757) 375-4550 or email scott@cgprealestateconsulting.com to start the conversation. 

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Invested in you and your real estate success,

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   Scott Westfall

   Owner, CGP Real Estate Consulting