Masters of Moments #14: Evan Schlecker - President of Morgan Group|Leadership in a Multifamily Behemoth
As President of Morgan Group, Evan Schlecker manages risk for Morgan with oversight over development and construction activities nationwide. Evan maintains involvement in all aspects of apartment development, construction, management, and finance. Evan serves as a member of Morgan’s Executive Committee and Investment Committee.
Since joining Morgan in 2012, Evan has been involved in developing and acquiring over 7,000 units at a cost exceeding $1.8B. Prior to joining Morgan, Evan co-founded BlueRoot Partners to take advantage of opportunities to acquire distressed real estate. Evan began his career at Torchlight Investors (f/k/a ING Clarion) restructuring non-performing commercial real estate.
On this episode, Jake and Evan discuss:
- How Morgan Group sources deals and develops assets
- How to enhance Multifamily assets
- Overseeing 20+ projects at one time
- The US Housing Shortage
- Mitigating risk during hold periods
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Links
Timestamps
(00:02:16) Evan’s career in Real Estate
(00:11:02) Why Scale is important: Plentiful 3rd party Managers
(00:15:21) Thoughts on market strategy
(00:19:13) Being ‘Hyper-local’ in development and construction
(00:22:00) Making the jump from being an entrepreneur to a Family business
(00:25:06) Headline stats for Morgan Group
(00:26:34) How Morgan sources deals and develops
(00:35:57) Thoughts on Single Family Rentals & High-end rental projects
(00:40:02) Adam Neumann
(00:41:49) How to enhance Multifamily assets
(00:43:32) The reality of overseeing 20 projects at once
(00:48:55) What is the best way to mitigate risk during a hold period and structure deals?
(00:52:33) Being a non-family member leading a Family Business
(00:56:29) Thoughts on the Housing Shortage
(01:01:20) What incentives are you setting up for team members?
(01:09:31) Why do you self-perform?
(01:13:20) Making money on the construction side of the business
(01:17:20) How are you building the company to perform over the next 5 years?
(01:23:44) What is your favorite hotel?