The Business Brew Ryan Dobratz - Real Opportunities
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Nov 30, 2024 Ryan Dobratz, a portfolio manager at Third Avenue Management specializing in real estate, shares insights on the firm's real estate strategy. He advocates for real estate operating companies over traditional REITs, exploring investment potential in firms like CBRE. The discussion includes challenges in the office market and a deep dive into opportunities within Fannie Mae and Freddie Mac. Dobratz also reflects on his career journey and highlights the shifting dynamics in residential real estate amid rising mortgage rates.
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Ryan's Career Path
- Ryan Dobratz discusses his career journey, starting with his time at the University of Missouri.
- A class on Warren Buffett significantly influenced his investment philosophy and led him to real estate.
Discovering Third Avenue
- After working at Ernst & Young and Morningstar, Dobratz discovered Third Avenue Funds through their shareholder letters.
- He joined Third Avenue in 2006, drawn by Marty Whitman's value investing approach.
Strategic Move to Austin
- Third Avenue strategically moved their office to Austin, Texas, seven years prior.
- This location provides proximity to major building markets, offering valuable real estate insights.
