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TIP671: Unconventional Value: Contrarian Thinking and Outperformance w/ Larry Connor
Oct 27, 2024
Larry Connor, founder of The Connor Group, shares his insights on contrarian investing and optimizing apartment complexes. He emphasizes the need for unconventional thinking and the power of seeing every asset as a unique business. Larry reveals his strategy of targeting 'train wreck' properties for improvement and the importance of counter-cyclical investing. He discusses how learning from failure fuels success and highlights the critical role of aligning core values and company culture to achieve exceptional returns.
58:38
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Quick takeaways
- Larry Connor's investment strategy focuses on treating apartment complexes as operating businesses, resulting in substantial increases in operating margins through active management.
- Emphasizing contrarian thinking and long-term planning, Larry advocates deploying capital during economic downturns to create a competitive advantage in real estate investing.
Deep dives
Distinct Business Units in Real Estate Investing
The approach to real estate investing highlights the concept of treating apartment complexes as individual business units rather than passive investments. By actively managing and improving operations, substantial increases in operating margins are achieved, often between 60 to 80% within two years. This method contrasts sharply with traditional real estate practices that often adopt a 'set it and forget it' attitude. Such hands-on management results in significant value creation, which Larry believes is essential for successful real estate investment.
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