Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss today's opportunities, problems & solutions in Commercial Real Estate.

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BIGGEST RISK with Charles Chandler


J Darrin Gross:

I'd like to ask you, Charles Chandler, what is the biggest risk?

 

Charles Chandler:

As a as an officer risk mitigation, risk management is a daily thing that gets communicated because we have risk at certain levels that we can mitigate and whatnot. So definitely appreciate that question. Because it again, it just ties into multiple things that I'm involved in. And so for us, and our team, really the biggest risks that we that we've experienced on and I can say this probably for both single family and multifamily has been not contacting the correct people and more so meaning on the multifamily side, getting into Build playing architects code, permitting, all kinds of different departments that we didn't even know existed at all, and then on the single family side, somewhat the same as far as zonings. What, what can or can't be done to certain houses, and again, that just being more So internally, kind of putting blinders on thinking of us individually, we have to solve this and figure this out and not. And that might be inherent as well, kind of a as a weakness on the military side, and more type a strong willed, will I'll get this done kind of thing, and not realizing that there are so many outside resources that are that are postured to really take down a lot of those potential obstacles that you're going to face. And so that on the multifamily side, that's been a continuous learning experience, especially right now with who it is that we need to talk with. And so biggest risk was kind of tied to not only taking a ton of massive action, which is great, but almost too quickly, and not realizing who is it that we need to talk to, who's out there who's available, who's a resource, or at least pausing just to even think of that question. And so that is the biggest risk for us, because that could potentially lead to where you're at a point of potentially no return, or there's going to take even more cost to potentially fix or mitigate something that that has happened. So thankfully, we've we're not at that we're not there and reach that that point. But we definitely saw that as a big learning lesson in internal conversations as far as risk.


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 September 27, 2022  2m