Evolution of Real Estate Investment

This chapter examines the transformation of institutional investment in real estate from its past neglect to becoming a mainstream allocation. It analyzes current economic factors affecting investments, such as inflation and interest rates, while reflecting on historical challenges like the 1970s economic turmoil. The speaker shares personal investment strategies during tumultuous times, emphasizing the significance of buying undervalued properties and navigating the complexities of present-day monetary policy.

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On today’s show, we have the honor of interviewing legendary real estate investor and entrepreneur, Sam Zell.

Sam Zell has an impressive background, having started his career in real estate in the late 1960s. He is the founder and chairman of Equity Group Investments, a leading private investment firm. Over the course of his career, Sam has made many bold moves and investments, earning him a reputation as a savvy and fearless investor.

One of Sam's most notable achievements was his role in creating the modern-day real estate investment trust (REIT) industry. He did this by founding Equity Office Properties Trust in 1997, which became the largest office REIT in the United States. In 2007, he sold the company for a record-breaking $39 billion.

Joining us today as a co-host is David Greene, an accomplished real estate investor, and host of the BiggerPockets podcast, one of the most popular and highly-rated podcasts in the real estate investing space.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

04:49 - How Sam helped pioneer the REIT industry and what improvements he would like to see today

30:42 - What drives him to succeed at 81 years old

35:37 - Why Sam would raise interest rates further if he was the head of the Federal Reserve

49:36 - How Sam thinks through when to buy and when to sell

50:48 - A play-by-play breakdown of how he sold Equity Group Investments to Blackstone for nearly $40 billion dollars

1:06:08 - Why he says “liquidity = value”

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Am I Being Too Subtle by Sam Zell Book
Bigger Pockets Podcast
Trey Lockerbie Twitter

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