Manage episode 290397645 series 2914013
Ajay and Manu Gupta are the CEOs and managing directors of Indus Communities.
Indus was founded on a simple, yet powerful idea: to transform neighborhoods and lives. Since 2002 their team has been committed to making neighborhoods stronger and safer by revitalizing communities in the greater Houston area. As a family-owned business, we have made a conscious choice to pay our success forward by helping our residents who live in our properties along with their family and friends. This philosophy also extends to our employees who proudly own 25% of the business.
“We’re closing on a 400-unit property, 396 exactly. It’s a great opportunity. We actually looked at this property in March and had it under LOI and not because of the Corona Virus, but because of property taxes here. Their property taxes tripled this year, so the underwriters couldn’t underwrite it anymore so we had to drop it and things got mitigated and things got better, so we got the deal. So, there is some action out there, and we think in the next 6 months it will improve and there will be more transactions.”
“Don’t stretch yourself too thin. Invest only what you can invest. Don’t re-mortgage the house, don’t take out a second loan. Sometimes you see that investment and it looks great, but you have to be careful because at the end of the day you have to make sure that you're comfortable and safe in your financial planning.”
4:47- Ajay and Manu tells us about themselves and their backgrounds
9:19- Ajay and Manu tell us what asset class they typically buy
13:43- Ajay and Manu share if they saw a downtick after stimulus checks ran out
18:54- Ajay and Manu explain how their business has changed on the acquisition side of things
23:06- Ajay and Manu give a prediction on how the commercial market will fair through COVID in Houston