The Fort

Nick Huber, Co-Founder of Bolt Storage, is back on The FORT Podcast to discuss what Nick's learned after going from 0-34 self-storage properties, thoughts around cancel culture, why it exists, and how we might overcome it. On this episode, they also chat about how remote work is changing the workforce, Self Storage market updates, and why blue-collar labor (sweaty startups) offer some of the biggest opportunities in America. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Watch this episode on YouTube: https://youtu.be/ltkWLjbZLic Links: Nick on Twitter Nick’s first appearance on The Fort: Episode #73 on Spotify & Apple Podcasts Businesses that Nick loves! Topics: (03:03) - Nick’s Transformation Over the Past Few Years (11:10) - Tailwinds in Self-storage (15:12) - Storage Scenario: What’s your 30-day game plan after you buy a facility? (18:11) - Nick’s Weekly Check-Ins (19:06) - How do you source on-site vendors? (19:56) - Nick’s Tenant Base & Thoughts on RV & Outdoor Storage (22:28) - Have you had any major revelations during the last three years? (30:47) - Creating Competitors (41:05) - Is “community” the right way forward? (43:39) - Nick’s Experience Wiith Cancel Culture & the Twitter Mob (58:31) - The Ultimate Net Positive of Twitter (1:02:11) - Re-thinking Blue-collar Work The Fort is produced by Johnny Podcasts

Eric Weatherholtz, co-founder of Healey Weatherholtz Properties, shares insights on real estate investments, creating vibrant spaces, and the power of incremental improvements. They discuss the importance of long-term capital, the process of acquiring the right spot, tenant selection, and setting up properties for transactions. They also touch on revitalizing retail, scalability of successful places, and share some shocking stories from their careers in real estate.

John Marsh is the Co-Founder of Marsh Collective and host of the Redemptification Podcast, serial entrepreneur, and consultant helping steward over $1b in redemptive real estate in 9 small towns around America. After spending the last 25 years giving guidance to over 60 startup businesses in various industries, John's current focus is helping others make generational differences in their communities and companies by helping patrons bridge the gap between redeeming vision and execution. On this episode, Chris and John discuss, how Marsh Collective rebuilt the entire city of Opelika, Alabama, buying old historic downtowns as an asset class and how to develop leadership and create flourishing businesses. John also discusses how he completely changed the trajectory of his life and marriage. Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Watch this episode on YouTube: https://youtu.be/xxZ7sbnK5iA Marsh Collective Redemptification Podcast (03:07) - Why do you see brokenness everywhere? (06:09) - What hanged in your life after contemplating suicide? (09:22) - Forgiveness is Suffering (12:01) - What kind of work do you do with the hard-charging entrepreneur in the perspective of their marriage? (15:58) - John’s Real Estate Career in Opelika, Alabama (28:15) - Building Businesses by Pivoting Into Commercial (36:02) - How do you know you’ve found the right leader? (42:29) -  What drives an extraordinary experience? (48:36) - What would make a fantastic multi-family project? (54:37) - Do these tenants pay more and stay longer when you follow this model? (57:04) - Are you bullish on the migration to small towns? (1:00:19) - Small, Historic Towns as an Asset Class (1:04:42) - What needs to be in place from the investors for you to work together successfully? (1:10:55) - What does a contract structure look like when renovating an entire town? (1:14:22) - Wrap Up and Final Thoughts The Fort is produced by Johnny Peterson

Marc Gilbert, Managing Partner of Twin Oaks Group, owns and manages a diverse portfolio of property across Northern New Jersey, including multifamily, commercial, and industrial properties. Marc directed financing at New City Management, covered REITs and financials at ING and Commercial Mortgage-Backed Securities at Fitch Ratings. Marc specializes in financing and structuring real estate syndicates. On this episode, Marc tells his story of joining the Israeli army and how those lessons shaped how he looks at life. They discuss why Marc buys properties with major environmental issues and the value he creates. Chris and Marc also chat about lessons learned from the 2008-2009 GFC and how Marc creates win/win situations.  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Twin Oaks Group Marc on Twitter Marc on LinkedIn (02:30) - Marc’s Travels to Israel and How it Shaped His View of the World (06:41) - Marc’s Journey Into RE (09:05) - Bringing a Depression Era Mindset to Real Estate (11:46) - Marc’s Career Prior to Starting Twin Oaks (20:44) - Do you think the bank system learned anything from the ’08 crisis? (25:07) - Operating in the Northeastern New Jersey Market (28:59) - Why do you take one these gas station deals that 99% of people pass on? (36:24) - What’s the process of cleaning these sites that requires a 5-10 year timeframe? (40:13) - Do you raise capital to clean these sites or use your own capital? (44:47) - Is there any government or tax incentive to de-contaminate these properties? (46:25) - What are you looking for in multi deals and how do you find deeper value in them? (50:19) - Thoughts on Rent Control (52:31) - As a long-term holder, should a building be 100% leased? (56:13) - Providing Housing For Ex-Felons (1:01:31) - How do you deal so well with your local government? (1:09:43) - Why could it be smart to overpay for a 1031 exchange? The Fort is produced by Johnny Peterson

Entrepreneur Nathan Lenahan shares insights on his time at WeWork until IPO, leadership lessons from the Army, and his new HVAC roll-up strategy with tech. They discuss WeWork's future, the value of property locations, challenges at WeWork, optimizing coworking space locations, dealing with landlords, IPO experiences, and revolutionizing home management with 'Homework' HVAC company.

On this episode, Jason Baxter and Chris Powers take a look at the last year for Fort Capital and discuss how their team evolved and prepared for scale, Jason's transition to CEO, company highlights, and thoughts on their strategy, and why 2021 was a record year for Fort Capital.  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Watch this episode on YouTube: https://youtu.be/OSDF2GK5two Lex Sisney's Organizational Physics (03:09) - Reflecting on Previous Reviews 2018 Year in Review 2019 Year in Review 2020 Year in Review (05:28) -  Transitioning Jason into CEO & Learning from Lex Sisney (11:36) - Jason’s Growth in 2021 (15:53) - Leadership Communication and Structuring Executive Meetings Good 2 Great by Jim Collins (23:54) - Getting Deliberate With How Actions Impact Fort’s Flywheel (30:01) - Fort’s Purchases in 2021 & Improving the Acquisition Process (42:16) - 2022 Deal pipeline (46:57) - Identifying the Need for a Director of Leasing (51:51) - Aligning Incentives Across Departments (56:05) - The Importance of Bringing Fresh Eyes to Look at the Business (1:00:15) - COR’s Impact in 2021  (1:14:03) - Thoughts on Growing Investor Pool (1:18:07) - Growing the Property Management Side of the Business (1:24:26) - Where We are Heading into 2022 The Fort is produced by Johnny Peterson & Straight Up Podcasts

Chris Pate, Managing Director of independent wealth management firm True North Advisors, spent the first 11 years of his career at a multi-strategy hedge fund. Prior to True North Advisors, Chris spent 8 years managing the investment activities for Western Commerce Group in Fort Worth. Chris oversaw both public markets and private investments within Western’s investment advisory operations, including equities, fixed income, alternatives, and hard assets.  On this episode, they discuss what Chris learned while working at a hedge fund, how True North selects and underwrites GP sponsors. They chat about capital allocation decisions in today's market, best practices when thinking about wealth management, and Chris' thoughts on the market. Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (01:58) - Chris’ Career with Q Investments & the Hedge Fund industry (05:27) - How Hedge Funds Determine Where To Focus Their Attention and When to Move Along (12:15)  - Transition into Wealth Management and Chris’ Current Role with True North (22:25) - What is a Multi-series LP? (24:20) - The Difference Between Private & Public Investments (28:35) - How do you identify good portfolio managers? (38:38) - What are things that are immediate No’s for you? (45:36) - What are some reasons companies want to get into a larger fund? (47:51) - How are some people so good at raising money without a track record? (50:03) - How much time do you spend on references? (52:35) - How much weight goes into due diligence when you are familiar with other folks in a deal? (55:43) - How do you underwrite hedge fund managers vs. private investment managers? (56:52) - How do you think about deal structures? (1:00:47) - How do you think about the movement behind the democratization of capital? (1:03:33) - Does more alpha exist in direct deals than anything public? (1:04:18) - How do you think about capital allocation? (1:10:54) - Is there any reason that would cause you to not continue investing in specific funds? (1:13:24) - What are your thoughts on the current market? (1:21:06) - Final Thoughts on True North and Working With Entrepreneurs The Fort is produced by Johnny Peterson & Straight Up Podcasts

Tyron McDaniel is the Owner of Houston Vintage Homes, focused on the Design & Development of Affordable Housing in inner-city communities around the country. With a keen eye for design and historical context, Tyron works with multiple cities and coaches, mentors investors, home builders, and developers from around the country in creating affordable housing solutions to meet the ever-growing need for more affordable housing.  On this episode, Chris and Tyron chat about how Tyron is using his platform to get younger generations interested in service trades, his life mission, and opinions on how to make housing more affordable, at scale. It is a thoughtful conversation about building affordable housing that helps create a positive impact in communities. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Follow Tyron on Twitter: www.Twitter.com/TyronMcDaniel Urban Vintage Designs (02:31) - Tyron’s Background and Career (04:27) - Tyron’s Work in Inner-City Houston (08:27)  - What are you doing differently with these homes that no one else wants? (12:05) - What are you doing with the homes when you’ve finished renovating? (15:26) - Is there something that happens where people start to notice a neighborhood is prime to develop around and are wanting to buy there? (18:01) - Tyron’s Urban Builder School (25:58) - How early do you need to get involved in these inner-city kids’ lives before they head down the wrong path? (27:38) - What does the definition of affordable housing mean to you? (28:56) - What’s your process for underwriting a tenant in the communities you work in? (31:54) - Do prisons give ex-cons any kind of statement that they were “good” people inside? (34:48) - How do you finance your properties? (36:05) - What are some obvious housing changes that we need at the political level? (39:33) - What are you seeing in the market in regards to rising costs and inflation? (41:52) - Are there specifics that you implement into your projects to keep your costs low? (49:02) - How do you think about setting your rents? (53:27) - What are your thoughts on gentrification? (57:41) - A Discussion on the Trades (1:00:45) - Do you have a childhood experience that changed the trajectory of your life? (1:03:38) - What’s the advice you’ve been given? (1:04:34) - Is there a book that’s had an impact on you? The Fort is produced by Johnny Peterson & Straight Up Podcasts

On this solo episode, Chris provides an update on industrial fundamentals and how they're holding up to date. He also deep dives into interesting things he is thinking about by way of capital markets and provides insight into what the office data is saying. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Links: Sean Dalfin on The Fort Chris Powers on Why Texas Topics: (02:30) - Thoughts on Industrial for 2022 (04:28) - The Fundamentals of Industrial - Location Premium (6:45) - Class B: A Diminishing Portion Of The Industrial Stock (8:59) - Accelerated Rent Growth & Increasing Tenant Demand (11:10) - Capex Requirements and Operating Expenses Are Changing (12:10) - Is having multiple tenants better than having one tenant? (12:34) - Does there continue to be portfolio premiums? (13:27) - Just In Case Inventory (14:38) - Industrial Price Increases Across Texas & Non-Texas Markets (16:34) - Transaction Volume Increases, E-commerce & CapEx (18:54) - Thoughts on Office (21:34) - The Great Game of Chicken With WFH (24:38) - Thoughts on Commercial Real Estate (25:33) - Dry Powder, Open and Closed Funds, Mega-Funds, and Allocations From Pensions and Institutions (28:18) - Family Offices & Non-Listed REIT Fundraising (30:10) - Debt & Lending (31:30) - (non) Distress in the Private Markets and Cap Rate Compression  (32:20) - Debt Pricing & Proptech (33:50) - Migration (37:32) - Market Liquidity, Inflation, Net Profits interests and Industry Leverage (40:57) - Final Thoughts The Fort is produced by Johnny Peterson & Straight Up Podcasts

Principal & Founder Riaz Taplin has been thinking about workforce housing for most of his professional life. Growing up in a real estate family, Riaz detoured early in his career from the family business to develop his own style by founding a design/build firm and developing over 50 ultra-luxury residences in the Bay Area. In successive projects and ventures, Riaz explored co-living, adaptive reuse micro-units, student housing, and traditional ground-up construction – all of which led to the firm’s custom workforce housing solution – the Micro-Living Studio.  Riaz leads Riaz Capital, a vertically integrated workforce housing developer and institutional-grade sponsor with a core team of over fifty professionals managing a portfolio of over 1,300 units, and with over 1,000 residences in the pipeline.  On this episode, Chris and Riaz discuss developing amazing projects in 30 months or less, how Riaz Capital builds units that are 28% more affordable than the competition. They deep dive on why design matters and why the Bay Area matters and will be a strong market for decades to come. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Links: Riaz on LinkedIn Riaz Capital  Topics: (04:10) - Riaz’s Background and Career (12:24) - What is Microliving? (15:12) - How are you able to build these developments in 30 months when other deals take 7 years? (21:22) - Do you self-perform GC? (24:24) - How does zoning work in your market? (27:20) - Affordability Without Public Subsidizing (28:19) - Riaz’s ‘Simple Build’ Model (32:09) - Family households have dropped 69% to 29%, what does that mean for you? (35:54) - What do these units look like inside? (40:34) - Do tenants have to put a deposit down since the unit is pre-furnished? (41:34) - How do people getting into the industry get furniture designed for units? (42:43) - How do you design the layout of your units? (46:35) - Are we headed into a world where everything is smaller and more efficient? (50:39) - What are most people still getting wrong with apartment development? (53:28) - What would you change immediately that would make housing more attainable at scale? (56:10) - Why is the Bay Area still really important at a time when people are trying to write it off? (1:00:52) - Raising Capital, Funds & Opportunity Zones (1:11:33) - Wrap Up The Fort is produced by Johnny Peterson & Straight Up Podcasts