For many , shifts in the market brought on by the pandemic are opening the door to new opportunities : 68 % say they ’ re likely or even very likely to acquire additional properties compared to pre-pandemic conditions . 42 % report they ’ re likely or very likely to sell existing property compared to pre-COVID periods – which indicates the opportunities are out there if you know where to look .
Other respondents are keeping an open mind – 21 % say it ’ s somewhat likely to somewhat unlikely they ’ d acquire additional property compared to pre-COVID conditions , and 42 % report it ’ s somewhat likely to somewhat unlikely that they would sell properties they currently own .
Some are holding steady : only 16 % say it ’ s unlikely to very unlikely they ’ ll acquire additional properties ; 16 % also say it ’ s unlikely or very unlikely they would sell existing properties .
If you ’ re considering acquiring property , consider whether a cost segregation study could accelerate depreciation , potentially frontloading savings into a 5 to 15-year period instead of the typical 27-39 years . The Barnes Dennig cost segregation study team can provide insights .
While conventional wisdom suggested the pandemic would have a devastating effect on the real estate industry , those in the field have a more positive outlook . They ’ ve found new ways to work with tenants to offset short-term hardships , turned to alternative revenue sources , and are even looking at expanding their holdings in the real estate market or capitalizing on opportunities to sell . And while some changes brought on by COVID-19 are here to stay , in the long-term , real estate industry professionals are looking ahead to a better , brighter future .