Thank you Eric Schlager from Bulfinch for joining the BRA Morning Zoom.
Key takeaways include:
- As a landlord, we are joined at the hip with our tenants and the same goes for our lenders.
- We all learn more in a downturn than during an upswing. The next four to six quarters will be a career defining moment. Stay focused and recognize new trends to come out of this with a competitive edge.
- Moving forward, one of the lessons learned is how much easier it would be to have all standardize leases and all EFT/ACH payment. We have many moving pieces right now, making collections a full time job.
- The country will experience a re-domestication of its supply chain. Real estate owners and operators will play a large role in the new American Industrialism.
- Every landlord in the world is in triage. Boston will have a soft landing because of the strength of the healthcare and life science industry.
- Bulfinch was founded in 1936. My family and I have seen a lot and recognize the challenges and opportunities that are ahead for all of us. I’m reminded by a Warren Buffet quote, “It’s always been a mistake to bet against America, since 1776. We take our body blows from time to time, but this country always comes through.”