Jan 29, 2021
“Whenever something comes about,
always look for your option, and how you can be methodical about
it.”
Today I had the pleasure of
speaking with Jennifer Joyce, an experienced real estate
professional with over 500 units specializing in Texas. Her
investing skills and experience span over 20+ years performing
various real estate investment activities. She has an excellent
reputation for building relationships with brokers, professional
services, investors, and vendors.
Let’s jump right into this
episode and learn more about leveraging the situation for your
business.
[00:01 - 07:00] Opening Segment
- Let’s bring Jennifer Joyce to the
show.
- Jennifer shares about the things she has
learned from starting in the single-family.
- Jennifer talks about her background and
childhood life that motivates her to enter real estate.
-
- Exposed to single-family real estate as a kid
and experienced a refi boom
- Get a real estate for her retirement
plan.
- She met her husband, who has a construction
background.
[07:01 - 15:29] Leveraging the Situation for your
Business
- Jennifer bought her first multi-family in
2007
-
- Scaling her own money and building her
portfolio.
- She had difficulties increasing the progress
and cashflow of her business.
- She discovered syndication about four years
ago.
-
- It was finally a game changer for her
business.
- Jennifer finally took massive action once she
understood the concept.
-
- She fully subscribed to her third property in
2020.
- Assumption causal in real
estate.
-
- In assumption, they check more into the
details.
- The assumption with yield
maintenance.
- Looking at some other loan products
-
- She is In the work of doing a refi through the
application process.
- Jennifer talks about the impact of COVID-19 on
the assumption.
-
- Take advantage of what is happening at the
moment to get a lower price and additional discount.
- Whenever something comes about, always look for
your option and how you can be methodical about it.
[15:30 - 24:17] Dry Powder
- Jennifer talks about the dry powder
strategy.
-
- Change message to her brokers and the
owners
- The longer that this economic change happens,
she turns it more to the buyers market.
-
- Change your way of messaging so people know
where you stand inside of this change.
- Moving away from the syndication
model
-
- Compete with the massive transfer of
wealth.
- When it becomes a buyer's market, and it is not
performing at its top capacity, that’s when our best business plans
are implemented.
- The true value comes where do you comparing it
against.
- Jennifer talks about the accounted cost of
educating your tenant to get a rental assistant.
Tweetable Quotes:
“Take advantage of what is
happening at the moment to get a lower price and additional
discount..”- Jennifer Joyce.
“When it becomes a buyer's
market, and it is not performing at its top capacity, that’s when
our best business plans are implemented.”- Jennifer
Joyce.
“If you really want to be in
real estate investing, you have got to realize that there will be
some challenging times, and it is better to have these challenges
and own rental real estate.”- Jennifer Joyce.
You can connect with Jennifer
on Linkedin.
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website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital,
LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit
my LinkedIn profile, and connect with me.