How the Russia-Ukraine conflict may affect the real estate industry

Dana Dunford is the CEO and co-founder of Hemlane, a technology-enabled property management platform. Through real estate she became a strong advocate of purchasing properties anywhere, as the best investments are not typically in your backyard. Dana helps real estate investors set up the most intelligent process to manage rentals from a distance, while connecting them with local, licensed professionals. Russia’s attack on Ukraine has taken financial markets by surprise and its consequences are already having a severe impact upon energy, transport and logistics, stocks and assets. To help you stay understand the situation, Dana will talk us through in today’s episode how likely the war in Ukraine is going to impact and affect our economy locally in the States as well as the real estate investment market. Episode Links: https://resources.hemlane.com/author/dana-dunford/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey everyone, welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum, and today I'm joined by Dana Dunford, CEO and co-founder of hemline property management and today Dana and I are talking about a pretty heavy and serious topic and that's the war in Ukraine, and how it's likely going to impact and affect our economy locally here in the States as well as the real estate investment market. So let's get into it.   Dana Dunford, welcome back to the pod, so happy to have you on. Thanks for taking the time.   Dana: Yeah, thanks for having me back on. It's been a while.   Michael: I know it's been too long and in between our last recording, and now you gotten some series a funding, right?   Dana: We did, we did. We announced it in January and now we're on the property management side, ready to ready to rock and roll and provides more innovation there.   Michael: Oh, congratulations. That is super exciting. So today, I was hoping that we could talk about kind of a more serious topic, a bit of a heavy topic and that's how the war in Ukraine is likely to affect our economy here locally in the States and this is a sensitive subject, a heavy subject, there's some incredible atrocities going on right now over there. So want to be sensitive to that. But very curious to get your thoughts around what we here at home can be doing on the economy site to kind of help weather through this storm.   Dana: Yeah, definitely. Um, so so just to begin with, I think, with the conflict that's happening in Ukraine, I take it back the strategist, tragedy, and think about, again, two to three years ago, also with COVID, right, basically major event that was global, that everyone was watching. And on the real estate side, we got through it, we got through it together, and we got through it also with our tenants, and with communication. So at the end, I want to really talk about that of like, next steps, actions you can do as a current landlord, and what you should be doing immediately, what you should be doing during your lease renewals, and how to handle what is happening today in the news and in the economy. But a lot of questions that I do get is, you know, from the real estate investor perspective, hey, how is this on the rental side going to affect be here at home as well. And so from there, I think the first thing to talk about is essentially the economy. I'm not a politician. So politics stay 100% away from I will really talk about about rentals themselves. There'll be some things I want to talk about in here, such as short term rentals and development. That's n