Some people see real estate as a waiting game. To win, you have to wait for the right time to buy, and then wait for the right time to sell. Patience is a virtue.
Of course, patience comes with a price…literally! It’s called “staying power,” which simply means that you have enough capital to play the waiting game, and time your acquisitions and depositions accordingly. Good timing means good profits.
At the Rancon Group we do not equate “waiting” with our real estate strategy. We are not just “watching the basket,” we are adding to the basket, analyzing the basket, and using some of the eggs in our basket to make omelets!
What I mean by that is we are not just waiting around for the market to improve; we are actively working the current market for opportunities. We see this market as a great time to acquire more Class A properties that might be in distressed mode. We see opportunity in creating infrastructure improvements at reduced prices that enhance the value of our properties. And, we see opportunity in the relationships we’ve built over the years, and continue to build in these challenging times.
Fortunately, we have the staying power to accomplish our goals and enhance the value of our assets. With more than forty years in this business, we know the market is going to change. In fact, we are banking on it changing for the better in the near future, but we’re not going to just watch our basket and wait. We’re going to make some omelets!
Daniel L. Stephenson