We are living in a constantly changing world. This is the new normal. Modern life is a series of interruptions, one after the other. We can only predict that the future is unpredictable.
The only thing that we can truly control is our attitude, commitment & dedication to each other. No matter what life throws our way, we are always going to do our best at navigating uncertainty. Risk is a part of life. You cannot achieve great things without risk.
Risk is not inherently a bad thing though. It is only those that are unable to, or unwilling to acknowledge when risk is a factor that it turns into something dangerous. Multifamily real estate is easy to let optimism get the better of you. All of the enthusiasm can make for some great opportunities, or some of the worst decisions.
This is exactly why we are committed to think with the end in mind. The cause of many poor decisions in history have been the result of shortsighted thinking. We need to be able to adapt in this ever changing world and consider the
I like to treat properties like stocks. If you pay a bad price for a good company, that still won't prove to be a good investment. On the flip side, paying a good price for a bad company is also not a wise idea. The goal is to pay a fair price for a good company. The question then becomes, what is a fair price for a given multifamily asset?
This is the basis of our underwriting process. We start from understanding the quality of asset that we are assessing from a number of criteria.
We need to be agile. We need to be able to adapt to changes in supply and demand quickly with our stakeholders. We need to be able to adapt our strategy to go out into the world no matter the climate of the day. We need to be able to adapt from an office to a remote culture instantly without a change in productivity. And we need to be able to stretch and contract our resources like an accordion.
But sometimes being able to adapt is not enough.
As a modern brand, we also have a moral imperative to take people forward. This is not easy, especially right now. Because in times of crisis humanity has a way of coming together, but this time around the crisis we face is also the thing that keeps us apart. Today we are more connected than ever before, and social distance poses new challenges at every level of society. We meet the challenge and we adapt. But to be fair, we’re also feeling scared.
So how do we meet fear?
At Db we are optimists. We know that the world will be better tomorrow than it is today. We believe in an open architecture. We believe in family. We invest in bridges, not walls. We go out into the world, even if right now that world is the size of our backyard. And we always stick together - even if physically we are apart.
We are excited to announce that we will continue to move forward with all business operations as planned, with love and with care for others. We are well rigged to achieve this with a digitally-native, profitable, and dynamic organization that can adapt quickly.
We also believe that this is an opportunity to further transform ourselves and our stakeholders with us. We will become even leaner and more agile to meet the future, and to do this we must learn to become antifragile.
Antifragility is a property of systems that increase in capability to thrive as a result of stressors, shocks, volatility, noise, mistakes, faults, attacks, or failures.
Every challenge is an opportunity to learn something we didn’t know before. And every crisis is an open window to evolve and to lead evolution. With the use of our digital tools we discover and meet the future by staying curious, creative, and rebellious in the face of fear.
That’s what we call hope.
On behalf of the Parallel Family.
- H. H.
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