With the year 2020 now coming to a close, what, in your opinion, will 2021 now be like for you? Do you believe that it will be better for you than 2020 was, or do you believe that this might just be positive thinking?
With this in mind, in trying to assess how 2021 will be for us, we need to be able to predict where things will be headed around the pandemic, and how this will impact our own businesses, real estate, and our own personal lives, too.
Because we’re being told that the pandemic won’t subside until many people have been vaccinated with the new vaccine, and in addition, more than 600,000 people have now applied to be contact tracers here in the United States, which will involve them going to people’s homes, looking for people who test positive for COVID-19, and then recommending that they be quarantined. So in keeping this in mind, our path throughout at least the first six months of 2021 will still not be what many of us would consider to be normal.
Then in putting together your game plan for the year, what are the probabilities? Well, the probabilities will likely involve the wearing of facemasks, and the continued closure and/or restriction of doing business in both the retail and the hospitality industries.
So in looking at this in our crystal ball, what moves or plans do you need to make because of all of this? Are you OK in standing pat with your properties, your job, your business, and everything else in your life right now? Or are there strategic moves that you’ll want to make within one or more of these arenas?
With respect to any real estate that you may own, what, if any, moves will you want to make, and are there buildings, specific locations, and specific types of businesses that you’ll want to take into consideration in the properties you’ll be owning and investing in, and in the type of tenants that you’ll want to be having within your buildings?
In addition, where might there be good opportunities for you to invest, and where might there be opportunities for you to even create a new business or a new product line or service, that could do very well right now in the midst of everything that we’re experiencing? We’ve all heard the expression, “crisis creates opportunity”, and let’s face it, certain industries like online web conferencing, and the production of both facemasks and hand sanitizer, have definitely been doing very well.
So in putting all of this together, if you’d like to talk to me in greater detail about where I see our commercial real estate market headed, and what moves you may want to make at this time because of all of this, give me a call!
