E49: GlobeSt.com Founder Jonathan Schein on Real Estate, Stand-up Comedy, and Beating Cancer
Feb 11, 2025
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In this engaging dialogue, Jonathan Schein, founder and CEO of RELP and GlobeSt.com, shares his inspiring journey from battling non-Hodgkin lymphoma to building a leading online real estate platform. He reflects on the evolving dynamics of commercial real estate, tackling challenges like rising interest rates and market trends. Schein also explores the transformative power of stand-up comedy, using humor to navigate adversity. His insights on resilience and personal growth are both poignant and entertaining, making for a compelling discussion.
Jonathan Schein's journey with cancer influenced his resilience and perspective on overcoming life's challenges, emphasizing the importance of authenticity.
The establishment of RELPI as a networking platform showcases the necessity of adapting business strategies to the changing real estate landscape post-COVID-19.
Significant shifts in real estate investment strategies highlight the impact of rising interest rates and the importance of understanding capital structures.
Deep dives
The Influence of a Simple Encounter
One unexpected moment on the subway led to profound insights about dealing with adversity. A man promoting a jazz concert shared a perspective that resonated deeply: instead of asking 'Why me?' when faced with challenges, asking 'Why not me?' can change one's outlook. This concept became a catalyst for embracing challenges courageously, reflecting the message of resilience. The conversation highlighted how sometimes wisdom can come from the most unlikely places, influencing decisions and perspectives in significant ways.
Establishing the Real Estate Limited Partner Institute
The founder of the Real Estate Limited Partner Institute (RELPI) embarked on this journey to connect institutional investors, capital fund managers, and private equity, especially during the tumultuous times of COVID-19. Starting as a virtual platform for networking, the initiative has since expanded to organizing live events across the US, Europe, and Canada. By creating spaces for meaningful connections, the platform aims to help investors and fund managers navigate the complex landscape of commercial real estate. This evolution demonstrates a commitment to adapting business models in response to industry changes and market demands.
Understanding Capital in Real Estate
A clear understanding of the capital structure in real estate is essential for effective navigation within the industry. The distinction between institutional investors, who allocate large portions of their portfolios, and private equity fund managers, who typically seek to raise capital, underlines the dynamics of the investment landscape. Notable entities such as pension funds and ultra-high-net-worth family offices play crucial roles in this ecosystem. The conversation emphasized that awareness of these distinctions is fundamental in connecting the right players in the real estate market.
The Impact of Interest Rate Environments
The current interest rate environment and its effects on capital allocation were major points of discussion, indicating the challenges faced by institutional investors in recent times. As interest rates rose, many investors shifted away from commercial real estate, affecting investment allocations that traditionally included real estate as a small percentage of their portfolios. The conversation also highlighted the concept of the 'denominator effect,' where the increase in value of real estate assets pushed their proportion above expected limits. This situation created hesitance among institutional investors to commit further capital until the market stabilized.
Adapting to Changing Markets
Real estate markets, particularly the office sector, have experienced significant shifts in recent years, pressuring firms to adapt their strategies. Rising vacancies and changing tenant preferences have caused investors to reconsider their investments, especially in traditional office spaces. The emphasis on 'flight to quality' demonstrates a trend where businesses are seeking modern workspaces, reshaping rental demands and office configurations. Investors are adapting by prioritizing high-quality, well-located properties that meet the evolving needs of businesses and their employees.
Personal Resilience and Professional Growth
An impactful personal journey through illness not only shaped insights into life's fragility but also fueled the desire for authenticity in storytelling. Stand-up comedy provided a unique medium to navigate experiences with humor and vulnerability, allowing for deeper connections with audiences. Adversity became a source of strength, illustrating that personal challenges can drive professional ambition and creativity. This blend of experiences enriches perspectives, demonstrating how laughter and resilience can coexist in the face of life’s uncertainties.
Join Kyle Matthews on the Matthews Mentality Podcast as he welcomes Jonathan Schein, the founder and CEO of Real Estate Limited Partner Institute (RELPI). Jonathan shares his journey from being diagnosed with non-Hodgkin lymphoma to pioneering the online real estate news platform GlobeSt.com. They discuss the evolving landscape of real estate, the tenacity required in business, and the transformative power of stand-up comedy. This episode is packed with insightful conversations on overcoming adversity, professional growth, and the importance of resilience.
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