4 Steps to Come Out of the Recession on the Upside
RIS Media
...When asked to sum up the year ahead, Stan Ross, chair, USC Lusk Center for Real Estate, believes values will further drop, foreclosures and delinquency rates will increase, and a limping economy likely will continue to crimp property cash flows. But capital will start to come in at a time when higher lending rates, more stringent underwriting, increased equity requirements and recourse terms will continue. So with all this doom and gloom, how do you survive during these times?
This year, the real estate industry has to focus on survival and solutions, looking toward expansion and new opportunities in a distressed market. The best approach for coming out of the recession on the upside involves four steps: checking your assets and liabilities, performing an organizational restructuring, improving relations with lenders and going after some great opportunity 'buys.'...