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Patrick Donley sits down with Kevin Clark to talk about how he broke into Commercial Real Estate at the age of 30 after getting a Master’s in Real Estate Finance at NYU. They get into what it takes to survive and succeed in the first year at a CRE brokerage, how to think about cap rates and the factors that influence them, and why he feels real estate isn’t an inflation edge.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:32 - How his first fix and flip near 8 Mile in Detroit went.
05:04 - What he learned serving as his own GC on a gut renovation of a New York co-op.
07:13 - Why he earned a Master’s degree in Real Estate Finance at NYU.
07:25 - How the freedom of a remote job allowed him to make the transition to real estate.
11:20 - Why having a background in finance is a huge advantage in CRE.
16:07 - How he broke into CRE with Massey and Knakal and what his first year was like.
16:07 - Why you shouldn’t consider work from home options if you are early in your career.
32:14 - What his top advice is for people just entering into CRE brokerage.
42:14 - How Kevin is trying to disintermediate brokerage on rental apartments with Cribdilla.
50:40 - What he feels are the best strategies during a negotiation?
01:03:22 - Why he feels real estate isn’t an inflation hedge.
01:03:34 - How to understand cap rates, why they are important, and the factors that affect them.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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