A rental investor managing 15,000 units backed by $1.2 billion in debt explains why they keep buying despite falling real estate markets. The core bet: people always need shelter. Without rent, the alternative is homelessness.
we're in a declining market right now in commercial and residential real estate, but yet you also hold 15,000 rental properties and have $1.2 billion of debt. So how do you navigate and manage that kind of pressure as you invest in the market, you continue to invest in the market, and you hold these assets in the market? Because some people would be like, does that make you scared that you hold this debt and the market's declining?
Thing is, the reason I have rental properties, I mean apartment houses, It's as far as I know, people need a roof over their heads and a bed to sleep in. If you're not, you're homeless. I hate to say this, but if you don't pay the rent at one of my apartment houses, the next stop is the street.