Leveraging the Situation for your Business with Jennifer Joyce Pt.4

Feb 5, 2021

This episode is part 4 of my conversation 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.

 

If you couldn’t follow this episode, please go back and listen to parts 1 to 3 on episode 54 to 56.

 

Let’s jump right into this episode and learn more about the change of key players, economic devastation, and the significance of team roles.

[00:01 - 04:49] The Change of The Key Players 

• Jennifer talks about the lack of competition as a syndicator. 
• • The lack of competition will not come until they get hurt; as long as nobody’s hurt, you will see the competition. 
• The significance of strong operators to keep the business going.
• • The profits are mostly made once the correction has hit.
• The change in the key players of the industry in the next 5 years.

[04:50 - 10:00] Economic Devastation 

• Jennifer talks about doing our part in this situation.
• • You can only control what you can control, so make it a positive thing in your life.
• Jennifer talks about the comparison between the situation in this pandemic and when the hurricane hits.
• The impact of the government decisions at the different miles stones and how to respond to it.
• • We can not control them; we can only play inside those rules.
  • Respond in the best business decision we can in that rule.
• Paying attention to what we have control over and spending our time on that.
• The importance of having visionary and detail-oriented players in one team.

 

[10:01 - 15:30]The Significance of Team Roles 

• The benefits of being in syndication.
• Jennifer talks about the significance of the role of a team.
• Jennifer shares how to get the whole operating team to stay on the same page.
• • Handing off and giving back
  • Creating collaboration that allows people to feel vested in the deal.
• Final words from me

Tweetable Quotes:

“The lack of competition will not come until they get hurt; as long as nobody’s hurt, you will see the competition .”-  Jennifer Joyce.

“You can only control what you can control, so make it a positive thing in your life..”- Jennifer Joyce.

“In working with a team, you have to create collaborations that allow people to feel vested in the deal.”- Jennifer Joyce.

 

You can connect with Jennifer on Linkedin.

 

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Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.

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