RE #105: RE Private Equity w/ 'The Real Estate God'
The Fort
Intro
This chapter explores the complexities of real estate investment versus stocks, focusing on the long wait for returns. It also highlights a prominent figure who simplifies real estate concepts and offers an online course to help others establish their own private equity ventures.
On this episode, Chris talks with the anonymous "Real Estate God" (www.Twitter.com/TheRealEstateG6) about how and why he launched his online persona to tweet about Real Estate. They also discuss his experience working in Private Equity in San Francisco, the future of the office, retail, and hotels post-COVID, and the appeal of multi-family as an asset class.
Finally, they talk about The System, an online course released by The Real Estate God to help both RE newbies and seasoned veterans attain true wealth through real estate. Enjoy!
You can become your own Private Equity firm here with TREG's course: The System - www.gumroad.com/l/trdbw
Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com
Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
(02:06) - The Real Estate God’s Background and How He Got to Where He is Today
(02:35) - How did you go about creating your online persona?
(03:22) - Can you describe the type of work being done at the PE firm you’re working for?
(04:24) - What type of office are you investing in?
(05:15) - How do you source deals?
(05:49) - Can you describe from your perspective how office, retail, and hotels were affected in 2020 and their future looking forward?
(10:36) - What type of retail do you play in?
(11:17) - What’s going on in San Francisco from your perspective?
(14:39) - Are you worried about the tech jobs leaving SF due to WFH?
(15:25) - Why is the government so restrictive there in regards to office?
(17:34) - What’s the leasing activity like in SF right now?
(19:08) - Are employees allowed in the offices in SF right now?
(19:38) - What’s keeping you in SF?
(20:39) - Can you walk us through a recent office deal in this office environment?
(22:53) - Can you describe the seller’s mindset in this situation?
(23:42) - The Methodology of Underwriting an Office Deal
(25:36) - How do you think about mitigating the risk of TI (Tenant Improvement) exposure?
(26:46) - Are the capital markets in office starting to open up?
(27:24) - Is there any tech or software that’s emerging in office?
(27:56) - Can you define Creative Office Building from your point of view?
(28:14) - Are the buildings coming with this 'creative' look or are you making a lot of those changes?
(29:01) - Why is multi-family an appealing asset class to you?
(31:14) - How did your idea for The System come together? How did you go about putting it in motion?
(33:36) - What do the two structures look like if it's an IRR hurdle vs. a Multiple hurdle? Why is Multiple better?
(36:24) - Can you summarize your view in your course on how you think someone can turn $50,000 into $1 Million?
(43:06) - How did you go about developing your table of contents for the course?
(44:06) - What was the thesis for the course?
(45:08) - Have there been any cool testimonials or outcomes from those who have bought your course?
(45:40) - Are most of the people buying your course brand new to real estate or is it a seasoned person looking to get more educated?
(46:20) - Changing the Future of Education
(49:34) - How did you find your mentor? How would you advise listeners on finding someone who can change their life through mentorship?
Questions from Twitter:
(54:06) - Mindset & Callicrates
(55:39) - Do the people you work with know that you’re The Real Estate God?
(56:11) - Is there something that’s keeping you from starting your own firm?
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