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New York Times Quotes Chris Zander on Managing Real Estate Investments

Real estate needs to be considered against other assets in a portfolio to ensure there is sufficient cash to withstand a downturn, Evercore Wealth Management President Chris Zander told the New York Times.

“People collect passion assets and invest in them episodically, but they do not think about them in total,” he said. “You really need to model all of that out and see where you are. That’s how liquidity squeezes can happen.”
 
Chris also noted that investors struggling to get the sale price they wanted can consider renting the homes to offset the carrying costs. Rental revenue tends to remain stable in downturns.
“If it’s a large property, the ongoing costs are significant,” Chris said. “Renting may be an option to ride out a downturn or allow you to find that unique buyer for that property.”
 
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