Nan Inc Owner, Patrick Shin is investing in the economy and housing market. Both sectors took a big hit during the Covid-19 crisis that started in March 2020.
At the start of 2021, this honolulu developer has taken a plunge into the deep end of the housing market in an attempt to help the economy in the upcoming years.
The Park: Two-tower condominium project
The Park is the new two-tower condominium project that the Nan Inc owner decided to start in Hawaii. It will be located on the 3.5 acres at the present Keeaumoku International Village retail center.
After holding off for the majority of 2020 (because of the COVID-19 pandemic), the developer of this twin-tower condominium is finally preparing to sell units at this complex. According to market researchers working at Nan Inc, they believe that mid 2021 will be a great period to invest or buy real estate in Hawaii. The Hawaiian economy is expected to improve again after these troubled 18 months.
A new company formed by owner of local construction firm Nan Inc has just opened a sales office in March 2021 for ”The Park”, the 972-unit project. It will be interesting to see what kind of buyer demand there will be for a new, largely moderate-price high-rise homes in Honolulu amid the coronavirus pandemic. You can read more about the project on startadviser.com
But why would you invest in real estate during a pandemic anyway? Usually, it’s the best time to start thinking about investing. We will explain why Patrick Shin decided to do this below.
Big plans for Owner of Nan Inc
In the stock market, there’s a saying that the best time to invest is when there is panic in the market, and the best time to sell is when everyone is greedy.
There’s a lot to be said about investing in real estate during a pandemic. Here are some investing lessons that you can learn from the pandemic.
Panic & Pessimism aren’t Profitable
Some people thought that the covid pandemic was going to be the end of the world. It isn’t the first time in history when people thought that (think about the Black Monday stock crash in 1987). People usually have a short-term memory when it comes to investing.
Patrick Shin was more optimistic, and saw this pandemic for an opportunity. Real estate prices where cheaper than before, so he decided to take advantage of this opportunity. While other construction companies started to take it a bit slower, he decided to double down on it. Of course, there is some risk involved, but panic usually doesn’t last forever.
Best Time to Invest in Real Estate in Now
Time in the market, is always more important than timing the market. Nobody has a crystal ball, and knows what is going to happen. People are always going to want invest in real estate, so a short-term loss isn’t really that big of a deal in a long-term time period.
Even the US housing crash that happened in 2008 has recovered. Housing prices across the US, which fell 33% during the recession, have rebounded and recovered. It took close to a decade, but usually prices recover. It’s hard to time a crash, but also to time a recovery. As long as people buy houses, real estate will stay a decent investment.