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Prepared to Overcome The Unexpected During a Crisis with Danny Randazzo

Click photo to hear Danny + Whitney

Key Points From This Episode:

  • Danny’s experiences managing properties and underwriting deals in the post-COVID climate.
  • Challenges Danny had getting the underwriting completed in the wake of new restrictions.
  • The different parts of the underwriting process: lender and environmental assessments, etc.
  • How valuable it was that Danny was organized and ready to do the underwriting quickly.
  • Challenges in the debt market: reluctant private lenders vs well-funded agency ones.
  • The fortune that Danny had to get an agency loan for his recent acquisition.
  • Judging a positive future for investors based on metrics about well-funded agency loans.
  • Getting last-minute bridge loans approved thanks to being ahead with due diligence.
  • Conversations Danny’s team had when COVID struck during their acquisition process.
  • How Danny and his team felt safe to invest during ups and downs in March and April 2020.
  • Real estate as a safe place to invest money in contrast to stocks during uncertain times.
  • Why investing in multifamily is still wise: families still pay their rent during hard times.
  • The golden rule of the time value of money and compound interest.
  • Assessing rentals by reaching out to managers for resident employer demographics.
  • High rentals Danny received for April and his thoughts for what May will bring.
  • Informing investors on the KPIs for the percentage of residents who have not paid rent.
  • Questions for active or passive investors to consider before investing.
  • Preparations Danny made that he is happy he made in hindsight.

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