With everything going on right now, what’s your main point of focus/career goals in the short run?
Are you making any adjustments in regard to work or life? Do you appreciate your job more and will give it all you have if you’re still employed right now (since you’re aware that many people were laid off?)
Also are you personally investing in the side in property or stocks now that valuations are lower?
I'm currently in my first year at a developer. My current mindset is that I can't control if my firm lays people off; all I can control is how hard I work. So I've been keeping my head down and trying to maximize my productivity in hopes that I'm viewed as the "hard-working young cheap guy." Working longer hours despite working from home.
Great attitude - exactly the type of person people will want to try and carry through the downturn.
I was shopping around to move across the country and shift from acq. to development when shit hit the fan. Going to continue to focus on my current firm's portfolio and strategy...once we start seeing some positive macroeconomic growth and development makes sense again, i'll pick up my search.
Waiting for April 10th... Rent is generally due the 1st of every month. They talk of the town on every call I'm on now is waiting to see who can't cover the tab on the 5th and figure out the best way to move from there. Figure it will take a week or so from that last day before late fees to gather total %'s of how much we are exposed. After that, figure out what to do next, but living on short horizons at the moment.
This is what I am seeing/hearing as well. First week of April will be telling. We are already seeing a lot of rent relief requests from various tenants, but so far it has been the expected tenants.
The FDIC published a memo that loan mods under 6 months will not trigger any bad loan provisions so I suspect we will be asking for some modifications where appropriate.
Yes, saw that as well. Wondering if there is an asterisk waiting to be placed next to sponsors names who take advantage of that memo. I don't know if there will be, but I can't imagine other Sponsors are lining up thinking that forbearance is the key to keeping their deals above water. I hope it does do some good though.
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