Commercial note sales (performing and nonperforming), foreclosures, workouts, receiverships, and bankruptcies (not necessarily in this order!) are now raining down on us.
Unlike the residential meltdown, we're not hearing a lot about it in the daily mainstream news sources. But it is now being widely reported in industry publications. Just take a look at last week's offerings from GlobeSt.com, for example. The volume of defaults is starting to overwhelm the system. Sound familiar?
The question now is “What are you doing to position yourself to survive and thrive in this environment?”
You have to learn how to reinvent yourself on a regular basis to have success in business and in life.
- What are you doing to reinvent yourself?
- Are you a spectator or a participant in life?
- Will you participate in the downturn, or will you refuse to participate in this recession?
- What strategies will you employ to reinvent yourself and make it in today's market?
Experts are adapting and reinventing themselves. What are you doing to make it in today's challenging market? What policies should be changed, what practical strategies and tactics that you can take to stay in business, keep your distressed properties, find new investment opportunities, help your clients, take advantage of great business and investment opportunities, generate revenues
- Buy discounted commercial paper
- Renegotiate loans on your portfolio
- Negotiate workouts for clients
- Manage distressed assets
- Find money for the deals you are working on
- Value property in today's market
- Develop realistic cash flow projections for today's challenging environment
- Sell distressed assets for top dollar
- Reposition distressed assets
- Work with Asset Manager and Receivers
Based on my experience in the late 70s and early 80s, the late 80s and early 90s, and the dot com crash, I know these things to be true:
- Some commercial practitioners will have their best year ever this year
- Some owners will negotiate great workouts this year
- Some people will get out of the business this year
- Some people will lose their properties this year
- Some investors will make great buys this year
- Some people will lose fortunes this year
- Some people will make fortunes
- Some will launch careers
- Others will go out of business
- Many lenders will make it this year
- Some lenders won't
The difference between those who succeed and those who fail will be the speed implementation of new ideas for the new commercial paradigm
The margin for error will be slim. Will you make the cut, or will you be cut? Will you go into your next negotiation fully armed? Or will the other side have the unfair advantage?
I saw fortunes and careers made and lost in the last big downturn in the late 80s and early 90s. And I'm seeing the same thing happen again.
Don't be passive and get run over. Take control and shape your future success. Don't let others shape it for you.
In all markets there will be winners and losers.
To get yourself on the winning side:
- Stop listening to theory and start taking action.
- Stop listening to how bad things are and start making things good for you.
- Stop being passive and take control of your business
About the author Eileen Burns is a seasoned Comerrcial Real Estate Broker in metro Ft Lauderdale and also markets commercial energy in States that have been de-regulated: California and Texas. For more information about adding value to what you already do for your clients, please email: info@TriggerTheCode.com
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