Capital Allocators – Inside the Institutional Investment Industry Marshall Boyd – Meat and Potatoes Multi-Family Real Estate at IEC (Capital Allocators, EP.295)
Feb 6, 2023
Marshall Boyd, Co-President and CIO at Interstate Equities Corporation, shares insights from his journey in real estate investing. He discusses transforming a family-run business into an institutional powerhouse focused on multi-family apartments. Topics include innovative sourcing strategies, the critical role of location, and detailed asset management. Boyd recounts an intriguing deal in Encinitas, highlighting operational challenges. He emphasizes adaptation in the dynamic market and shares lessons on grit and leadership, intertwining personal philosophy with professional success.
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From Private Equity to Real Estate
- Marshall Boyd's father, an economics professor, co-founded Interstate Equities Corporation (IEC).
- After his father's passing, Boyd joined IEC, shifting from private equity to real estate.
Confidence in Real Estate
- Boyd's experience at TA Associates gave him the confidence to tackle real estate investing.
- He realized that with rigorous underwriting, real estate could be understood like any other business.
Meat and Potatoes Investing
- Boyd saw the potential for stable returns in real estate, unlike the higher-risk private equity world.
- This "meat and potatoes" investing approach focused on consistent, smaller gains over high-risk, high-reward ventures.