The Value of Long Term Co Workers

In the last episode, we discussed alternative assets, and in this episode, we take a deep dive into the career of Chris Powers, the master of one specific alternative asset: real estate. Chris began his real estate career when he was just 17 years old and has spent the last 17 years building Fort Capital, a real estate firm in Fort Worth, Texas. Chris was a hungry 17-year-old, just showed up at college, bought his first house with no money down in 2004. By the time he left college, he had 12 houses. Fast forward to 2021, just this year, along with investors, they purchased $500 million of industrial real estate in Texas. Throughout the episode, we discuss Chris’s journey in real estate, investing, recruiting, and podcasting.

We started the conversation by asking Chris who his heroes are. He shared the story of his father who went back to college to pursue medicine even after being a lawyer for 13 years. His dad taught him the valuable lessons that you only live one life and that money can only make you so happy.

Chris bought his first house at 17 when he was starting college and got into real estate as a means to make money during his studies. He was driven by constantly waking up and feeling behind and wanting to do something. Before graduating, he bought more student housing, started a property management business, and started a leasing business. He graduated in 2008, during the economic collapse, and had no choice but to continue in real estate.

From 2010 to 2015, Chris was doing a bit of everything related to real estate – he was building custom homes and spec homes, buying land, VC investing, and had a small team that he managed. Despite having some success, he realized he wasn’t compounding his business the way he wanted. Reading Good to Great by Jim Collins motivated him to narrow the focus of his business.

Chris talks about his need to be able to recruit and the importance of having a mission. We also discuss how flywheels can propel us forward, and for Chris, his flywheel is based on his podcast, Twitter, real estate business, and investors that create a virtuous cycle of growth.

Recently, Chris has transitioned out of being the CEO of Fort Capital, and he is learning how to be an owner. He is also focusing on his VC Funds and building Powers Capital, which he says will function like a family office but also will function like private equity. We wrap up the conversation discussing when enough is enough and measuring impact; Chris says he’s no longer in it for the money but rather to see what it is possible to accomplish during the one life he has.

Links: 

Chris on Twitter: https://twitter.com/fortworthchris

The Fort Podcast: https://open.spotify.com/show/4dLKPVTiXWmrFwd43iN2LZ 

Chris Powers & Pete Chambers Podcast: https://open.spotify.com/episode/2X8vKyUIQaIxV5Mr9J5KMv

Good to Great by Jim Collins: 

https://amzn.to/3yJV9Jc

Owned and Operated Podcast w/ Chris Powers: https://podcasts.apple.com/us/podcast/21-chris-powers-building-%24600mm-commercial-real-estate/id1560999545?i=1000527344852

Fort Ventures: https://www.fort-ventures.com/

On Deck: https://beondeck.com/

Token Economy - How the Web3 Reinvents the Internet by Shermin Voshmgir: 

https://amzn.to/3mpmHi7

Additional Episodes If You Enjoyed:

Mitchell Baldridge: Defeating Taxes, Crypto & Financial Planning

Codie Sanchez: Drug Cartels, Vanguard, and Goldman Sachs

Nick Huber: How to Build Leverage, Buy Businesses, and Go Viral on Twitter

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