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Beyond the risks it poses to our health, the Coronavirus is causing chaos in our economic system as well. Businesses have closed their doors and many Americans have lost their jobs or had their hours cut. And the stock market is on its way down. But what does it all mean for us as multifamily investors? Is the sky falling? Or are there things we can do to protect ourselves and serve our tenants in this challenging time?

On this episode of Apartment Building Investing, I’m sitting down with an expert panel of multifamily operators that includes Drew Kniffin, Brian Burke, John Cohen, Reed Goossens, Andrew Cushman and Ellie Perlman to discuss what we are doing to protect our investments and our investors through the Coronavirus pandemic. We share our strategies for income preservation and expense reduction, explaining how we are supporting tenants through the crisis and what programs we are leveraging to keep our employees on the payroll.

We go on to address how COVID-19 is likely to impact passive investors and offer insight on what they can do to take advantage of the shift to a buyer’s market. Finally, we explore the short-, medium- and long-term implications of the economic fallout from the Coronavirus and describe the incredible wealth-building opportunity available to savvy real estate investors in the months to come. Listen in to understand what defines a good deal in the current environment and learn how to use this time to prepare for the next up cycle!

Key Takeaways

What Andrew is doing as an owner to protect his investments

How John’s team is navigating the Coronavirus crisis

Ellie’s insight on tenants who can’t pay vs. tenants who won’t

The additional things Ellie’s team is doing to navigate COVID-19

The additional things Brian’s team is doing to navigate COVID-19

Brian’s insight into the Paycheck Protection Program

Reed’s perspective on the Coronavirus crisis

How Drew and Brian think about the risk for passive investors

John’s insight on how the crisis will change lender behavior

The overnight shift from a seller’s market to a buyer’s market

What passive investors should do in the short-term

Our predictions around what to expect in the short term

Our predictions around what to expect in the medium term

Our predictions around what to expect in the long term

How to stress test acquisitions in this new environment

Why it’s hard to underwrite deals right now

How student housing may be affected by the Coronavirus crisis

How the stock market crash will affect our ability to raise capital

What the average investor should be doing right now

The moratorium on evictions due to COVID-19

The potential growth of secondary and tertiary markets

What defines a good deal in this environment

The 5 steps for making a successful shift to entrepreneurship

  1. Singular focus
  2. Measurable action plan
  3. Proper time management
  4. Understanding of finances
  5. Accountability

Connect with the Expert Panel

Drew Kniffin

Brian Burke

John Cohen

Reed Goossens

Andrew Cushman

Ellie Perlman


Deal Maker Live

Deal Maker Mastermind

Michael’s Products & Programs

Michael’s Mentoring Program

Nighthawk Equity

The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications by Brian Burke


Paycheck Protection Program

Project Porchlight

Josh Thomas

Podcast Show Notes

Review the Podcast on iTunes

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Michael on YouTube

Apartment Investor Network Facebook Group

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