Today's Flash Back Friday Episode is from Episode #131 that originally aired in December of 2016.
Bill’s experience spans more than 35 years and includes the acquisition, development, and/or sale of more than $4 billion of real estate and real estate-related investments, including 50,000 units of multi-family, 1.5 million square feet of retail, and 5 million square feet of office and industrial properties.
I think it’s safe to say that Bill has been there and done that and I’m positive that you’ll gain a ton of knowledge from our time spent together.
Here’s What You’ll Learn:
- How he got his start in the brokerage side of the business before transitioning into land development.
- Why Bill feels being a broad-based value-add opportunistic investor versus an asset specific investor has been a big part of his overall success.
- Details on a recent $48.5 million dollar retail power center acquisition in Reno, NV, and his plans to take the center from 71% occupancy to 93%+ within the first year. In fact, hear the details on how his team was able to secure a good amount of LOI’s on the vacant space before even closing on the property.
- The reasons behind his companies short-term hold strategy and why he focuses on an average of a 3-year hold versus long-term cash flow plays.
- The challenges that he feels the retail sector is facing in the future and how his firm is adapting to these market shifts.
- What his crystal ball is telling him about the real estate recovery and what his company is doing to prepare for any coming shifts.
- Why he is a firm believer in the old adage “you make your money on the buy”
- Why he suggests that every real estate investor reads “margin of safety” by Seth Klarman but I will warn you, the book is no longer in print and a used copy will run you $800 on amazon.
- Why reputation and integrity are everything in this business and why he feels that these two items should be first and foremost when building your business.
- And much more
Direct download: FBF_131_mixdown.mp3
-- posted at: 12:00am EST