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When Vinod Chopra came to the United States from India more than 40 years ago, he had only $7 in his pockets. But he knew without a doubt that the opportunities offered by this country were within reach because he had a vision for his life plus the commitment to learn, work hard and sacrifice to achieve those goals.
With a bachelor’s degree in mechanical engineering, he entered The George Washington University to seek a master of business administration degree in marketing and advertising. He sold Bibles and educational books door-to-door to support his studies, excelling both in the classroom and outside because of his work ethic and overwhelmingly positive attitude.
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Multifamily properties historically maintain a structurally lower vacancy rate than other product types and generally exhibit greater resiliency in holding their values during market downturns. Demand can still increase for apartments in economic downturns when homeowners turn to renting to preserve capital and renters cannot afford to buy. Lenders offer superior terms due to investor familiarity with this asset type, and there is a wider availability of financing options.