POWERS

How would you go about doing your first real estate deal with no experience and no capital? On this episode, Chris answers that question as he walks through the process of executing your first deal. He explains why you need to have immense knowledge of your market, understanding how to approach banks, the process of raising capital, and more. 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: https://www.linkedin.com/company/fort-capital (00:57) - Pick an Asset Class and a Market The FORT Podcast RE #93: How to get your first job in Real Estate (02:24) - Get Your Real Estate License (04:08) - Borrowing From a Bank (FHA Loan) (07:54) - Get to Know Your Market (10:01) - Learn How to Underwrite a Property (16:48) - Raising Money The FORT Podcast RE #81: How to Underwrite (20:39) - Setting Terms with Investors (21:26) - Understanding What a ‘Good Deal’ Looks Like (23:31) - Cold-Calling Properties & Talking to Brokers (25:08) - Finding Sub-Contractors (27:37) - After You Get a Property Under Contract (29:02) - Property Management (32:18) - More on FHA Loans & Chris’ First Deal (33:41) - Wrap Up The FORT with Chris Powers is produced by Straight Up Podcasts

On this episode, Nick Huber joins Chris for his second appearance on The FORT podcast. Nick is the founder of The Sweaty Startup whose mission is to help people do common things uncommonly well. Nick and Chris discuss his massive growth on Twitter over the last 6 months and what kind of value that's brought him. They talk self-storage and Nick's 12 properties under contract as well as how he was able to raise the money for those deals. They touch on the importance of providing value and content online, the steps Chris took in his business career to get where he is now, Nick's Real Estate course, and much more. 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: https://www.linkedin.com/company/fort-capital/  Nick Huber: Bolt Storage The Sweaty Startup Website Nick's Real Estate Masterclass Nick on Twitter (02:43) - Walk Us Through Selling Your Self-Storage Business and What Y’all Went Through in 2020 (03:54) - Was there a moment when you realized that it was time to sell? (04:32) - How long did it take you all to sell? (05:32) - How much has your growth on Twitter changed your world? (06:25) - How were you able to earn $100k in consulting? (07:39) - How Chris and Nick Engage with Potential Investors (10:52) - Nick’s Thread that Was Published on Morning Brew that Led to 30-40k Followers on Twitter The Thread (11:52) - Nick and Chris’ Thoughts on Giving Information Away on Twitter and Handling Trolls (14:38) - How do you meet the really big people on Twitter? (15:07) - Chris’ Twitter & Podcast Goals (17:32) - Nick’s Business Goals and The Steps Chris Took to Get to Where He is Now (22:27) - Thinking of Hiring as an Asset and Not an Expense (25:40) - Clubhouse (27:17) - Twitter Q: What would you be doing if you weren’t doing real estate?  (31:56) - Nick’s Real Estate Course (The Non-Sales Pitch) (33:58) - Podia (35:35) - What asset class would you jump into if you couldn’t do self-storage? (37:04) - How are you underwriting your expected churn? (38:40) - Why do you continue to focus on the NorthEast? (40:42) - What’s the most common thing you do to increase value when you take over a property? (42:44) - Nick’s Advertising Process (43:09) - Twitter Q: How are you sourcing and getting things under contract so quickly? (44:37) - Working with Brokers (49:41) - Cash-Out Refinancing (51:05) - Demographic Differences Between Rural NE and The Big Cities (51:50) - Customers Taking Advantage of Customer Service Reps (54:50) - What type of person are you hiring? (56:14) - What do the first 2 weeks look like after closing 12 properties? (58:12) - Twitter Q: Buy and Hold forever vs. Buy and Sell in 5-7 years? (1:01:28) - Being an LP (1:05:36) - Wrap Up The FORT is produced by Straight Up Podcasts

Today's episode features Tomas Hoyos, the Co-Founder & CEO of airsubs, a platform launched in the midst of the pandemic that allows creators to connect virtually with their audience to teach classes, host fitness courses and more all while monetizing as digital creators. Tomas also is the founder of Voro, a healthcare social network where people share doctor recommendations with their friends and neighbors, research doctors, and book appointments. On this episode, Tomas touches on his childhood moving from Venezuela to the United States and the trial his family went through during multiple military coups and the Bay of Pigs. He and Chris also discuss the pivot to launching airsubs during the early days of the pandemic, how COVID affected Voro, and the trend of the creator economy exploding due to the events of the last year. 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/   (02:56) - Tomas’ Story Growing Up and What Led Him to Airsubs www.airsubs.com (04:16) - Tomas’ Experience Growing Up in Venezuela (05:36) - What was the inspiration behind Voro? www.Voro.com (10:02) - When did you decide to go all-in with Voro? (10:56) - Did you bring on a co-founder? (11:27) - What happened when the pandemic hit? (16:44) - How do you describe airsubs? (20:29) - Was Mike Maples the main encourager for y’all to ‘try anything’ in the midst of the world turning upside down? (22:13) - What was your mandate to the team in the aftermath of that conversation? How long was it until you launched airsubs from that call? (23:03) - Did you code everything out or go no-code? (23:38) - What was the genesis of getting your first creator onboard? (27:13) - What other types of use-cases are you seeing on the platform? (29:04) - Re-Selling Content (30:14) - Can you embed your profile into a website or do you drive users to the airsubs website? (31:00) - Is there a community aspect within airsubs? (31:41) - What’s the network effect like? (33:24) - What tools do you offer to the creator? (36:14) - How are you getting inspiration for new tools to add? (37:27) - Has there been anything your customers have asked you to build that was surprising? (38:33) - Is there any reason a creator would go back to in-person events after seeing such success online? (40:02) - What are your thoughts on Clubhouse and the idea of monetizing conversations? (43:48) - How many people are working on the business? (44:48) - Is it fair to say you’ve found Product-Market fit with airsubs? (46:04) - How are you thinking about financing going forward? (46:56) - How are you thinking about Voro’s growth amidst airsubs’ success? (47:58) - Is your team completely remote? How do you think about growing the team? (48:40) - What have your investors done for you that you didn’t expect? (50:02) - Did you have a childhood experience that shaped the trajectory of your life? (52:56) - What’s the best advice you’ve ever received? (53:37) - What’s the best book you have ever read? Alexander Hamilton by Ron Chernow When Breath Becomes Air by Paul Kalanithi Barbarian Days by William Finnegan A River Runs Through It by Norman Maclean (54:30) - What’s the best way for people to reach you or find airsubs? Twitter: www.Twitter.com/HomasToyos Instagram: www.Instagram.com/HomasToyos Tomas@airsubs.com  

Matteo Franceschetti is the Co-Founder and CEO of Eight Sleep, a proprietary technology reinventing the way people sleep. Eight graduated from Y Combinator in the summer 2015 and from Stanford’s StartX program in May 2015. On this episode, Matteo offers insight into the nuances of how and why we sleep. He touches on how various inputs affect our quality of sleep such as food, caffeine, alcohol and supplements. He also describes various levels of sleep: Light, Deep and REM. Finally, Matteo and Chris talk about Eight Sleep's technology and how it has been able to help people improve their sleep. 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/ (01:42) - Matteo’s Background (02:30) - How did you get the idea to start Eight Sleep? (03:34) - What was your experience like going through Y Combinator? Y Combinator (04:26) -  Why do you characterize sleep as a form of fitness? (05:34) - Why do you suggest compressing your sleep from 8 hours to 6 hours? (06:33) - How do you define light sleep, deep sleep, and REM? (07:58) - What happens to the body when you’re sleeping? Why do we need sleep? (09:51) - Does the amount of total time in bed but not asleep benefit you at all? (10:24) - What effect does alcohol have on sleep? (12:21) - What effect does eating before bed have on sleep? (13:29) - How does caffeine impact sleep? (14:39) - How does exercise and when you exercise affect your sleep? (16:02) - Does having sex before you go to sleep affect your sleep? (16:27) - Do you recommend sleep supplements like Melatonin? (17:35) - What are your thoughts on going to sleep around the same time every day? (20:43) - How does your mood before going to bed impact your sleep and how you wake up? (21:56) - Is there data on sleep quality for couples vs. those sleeping alone? (22:58) - Why do people dream? (24:17) - Why are some people really heavy sleepers and others light sleepers? (24:57) - How does age affect sleep? (26:17) - Does gender affect sleep? (26:40) - How does sleeping on a mattress for most folks affect sleep vs. people in poverty that have worse sleeping conditions? (27:40) - How does light and temperature in the room affect sleep? (28:21) - What is it about the products you offer that make sleep better for people? (30:00) - How are these mattresses able to control body temperature? (30:34) - What type of information do the mattress sensors pick up about the user? (31:53) - Does the mattress differ in terms or softness or firmness? Does it even matter? (32:50) - Do pillows matter? (33:16) - What data do customers get in the morning on the Eight Sleep app? (33:47) - Circulating Water into the Mattress (34:46) - Can you describe the pods and cover you offer? (35:58) - What can folks who travel a lot do to make sleeping better? (36:30) - Is there a childhood experience that shaped the trajectory of your life? (37:15) - Do you have a morning routine? (38:05) - What’s the best advice you’ve ever received? (38:14) - If you had a billboard that was on a major highway, what would you put on it? (39:08) - How can people reach you? eightsleep.com Follow Matteo on Twitter

Jeff Worn is President & CEO of South Georgia Pecan Company, the largest nut-sheller in the world.  On this episode, Chris and Jeff discuss taking over his family business, growing the company to $300M in revenue, the domestic and global pecan industry, much of the industry nuances that are influenced by a growing market in China, and more. 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/ (02:49) - Jeff’s Story Growing Up and What Lead Him to Takeover Southern Georgia Pecan (07:35) - What did your family business look like when you first entered the picture? (12:31) - Why aren’t there government subsidies for pecans but there are for other nuts? (15:34) - What is the dynamic of a contract between you and growers? (18:46) - Verbal Agreements in a Tight-Knit Industry (20:22) - What months are considered ‘Pecan Season’? (24:53) - Is the pecan market relatively new in China? (26:23) - What happens from the day you pick up the pecans all the way to delivering to the final customers? (28:05) - How do you measure the quality of a pecan? (31:25) - How long do they sit in cold storage? (32:09) - How much of the plant-work is done by machines vs. humans? (32:39) - What sets the market for pecans? Why does it fluctuate so much? (34:25) - What causes a bad crop season? (35:17) - Are y'all making the final product in-house or are you just delivering pecans to folks who will make the ice cream, pies, etc.? (36:17) - Is there a pecan allergy or is it just peanut allergies? (37:20) - How long has this business been in your family? (38:08) - Are there a lot of new entrants into the industry or is it largely family-based? (39:28) - What were the big leaps you made since starting off in a sales role? (48:08) - Building a Plant Out in El Paso (50:33) - When did you become President & CEO? (53:01) - What are the top things that stood out to you when you went about changing a 100-year old culture? (56:52) - Do you have an end goal? (58:20) - What does the institutional capital that’s entering the market look like? (58:57) - Do you have a childhood experience that shaped the trajectory of your life? (1:01:26) - What’s the best advice you’ve ever received? (1:03:08) - If you owned a billboard that you could put anything on, what would it say? The FORT with Chris Podcast is produced by Straight Up Podcasts

Brady Wood is an influencer and innovator in the entertainment concept and real estate development space. He has the proven ability to “see the unseen” which allows him to navigate the complex and nuanced art of concept creation. On this episode, Brady and Chris discuss his journey from buying bars and restaurants in Dallas to founding Woodhouse and developing major mixed-use projects such as The Star in Frisco facility utilized by The Dallas Cowboys. They also discuss the private membership club industry and how they were able to navigate the pandemic with projects like Park House in Highland Park. Finally, Brady gives his thoughts on concepts like Ghost-kitchens and how to better the relationship between restaurants and leasers to keep these small businesses alive. 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/ (02:47) - Brady’s Story Owning His First Businesses and Buying Bars in Dallas (07:53) - Did you end up selling all of those businesses or did you hold onto them? (09:08) - What was the next step for you after owning bars and restaurants in Dallas? (13:12) - Can you describe what you do today at Woodhouse? (16:24) -  Working with Jerry Jones to Develop The Star Facility in Frisco (18:58) - What did the developers do right when building The Star that others should think about in terms of bringing someone like you into the fold of a project? (23:13) - When someone like The Cowboys built out The Star, is WoodHouse putting together a plan to present to the family and developing everything once it’s approved? (25:14) - How do you come up with these concepts and gain inspiration? (27:32) - Why are great restaurants great? Why do some fail? (34:17) - Can you describe what a partnership deal between the leaser and the restauranteur looks like? (37:11) - Why aren’t more folks pursuing these types of partnerships? (39:24) - Assuming the partnership is in place, why do restaurants still fail or succeed from an operating standpoint? (43:08) - How did you develop and execute the Park House Club concept in Highland Park, Dallas? (46:39) - How do you deal with such a long waiting list? (4,100 Currently) (47:59) - Is there something unique that the space has been used for that you never expected? (50:07) - Gateway and First-Tier Cities (53:51) - What is the future of private paid membership clubs? (55:28) - Should more restaurants think about the Ghost-Kitchen model? (57:17) - What are some things we should expect in the next year and over the next 5 for hospitality? (1:01:28) - When can we expect music festivals to come back? (1:02:40) - What are the economics of a music festival? (1:04:17) - Do you act as the consultant to the festival or do you own the ones you’re involved with? (1:04:47) - Could the private membership clubs not exist in small marker cities or do they require a certain demographic? Common House Club in Charlottesville (1:06:39) - Do you have a childhood experience that shaped the trajectory of your life? (1:09:30) - What’s one thing you believe that most people don’t believe? (1:10:38) - What’s the best book you’ve ever read? Richard Branson Books Elon Musk’s Biography Empire of the Summer Moon (1:11:43) - If you owned a billboard that you could put anything on, what would it say? (1:12:14) - What’s the best way for people to get in touch with you? Brady on LinkedIn Woodhouse Online

Sean Dalfen is the President and Chief Investment Officer of Dalfen Industrial and is responsible for the firm’s investment activities, the origination of new business, and implementation of the last mile investment strategy. Sean is also a member of the firm’s Executive Advisory Committee and the General Partner’s Fund IV Investment Committee. On this episode, Sean and Chris discuss his journey into the real estate world with his father, his decision to launch a fund business within the organization, why he's bullish on Industrial, Dalfen's Last Mile analysis, and more. 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/ Check out Dalfen Industrial: www.dalfen.com Find Sean on LinkedIn (03:15) - Sean’s Story Growing Up and Leading to His Role Today (05:44) - Is there anything that stands out that your father did with you at a young age to keep you hungry and motivated? (07:18) - What did the company look like when you first joined? (08:52) - Why did you decide to launch a fund business? (11:26) - How large was your first fund? (12:17) - Can you paint a picture of the benefits of working with institutional capital vs. private capital? (14:02) - Do you raise institutional funds in-house? (15:02) - What’s a Top-Up? (15:23) - What is your role today as President and CIO? (16:21) - What are the big fundamentals that are appealing to you in looking at the future of Industrial? (20:58) - Last Mile Analysis (24:29) - How do you use the analysis to create deals? (26:02) -  Dalfen’s 4 Buckets (Value-Add, Core, Core-Plus & Development) (27:27) - What are the fundamentals of a Core vs. Value-Add deal? (29:03) - How do you think about development? (31:57) - Do you do any forwards with development? (33:02) - Do you still participate in Co-GP or JV deals? (33:47) - Is there a situation that comes to mind where you would get into a JV deal? (35:02) - Is there a data point that you look for when folks say that Industrial will become over-built? (38:50) - Is there anything interesting about working with Amazon? (40:53) - Do you have any insight on the border trade-market? (43:07) - How are your offices set up across different markets? How do you manage them? (45:10) - How do you describe a full-team setup? (46:00) - Are there different rules and guidelines when it comes to ownership in Canada vs. the USA? (48:01) - Capital Markets for Industrial: where do they sit today vs. pre-COVID? (49:48) - Do you have a childhood experience that helped shape the trajectory of your life? (51:01) - What’s the best advice you’ve ever received? (51:31) - What’s your favorite book? Man's Search for Meaning - Viktor Frankl Extreme Ownership - Jocko Willink The FORT with Chris Powers is produced by Straight Up Podcasts

When starting a career in RE Private Equity, should you stay small or grow a platform? On this episode, Chris answers that question as he walks through the process of growing a real estate company from a one-man band to 25+ people. He explains how your role changes as you do more deals, why hiring is inevitable, the challenges of hiring the right people, implementing processes and operations, and more. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Fort Capital on LinkedIn: https://www.linkedin.com/company/fort-capital/ Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (01:27) - When You’re in the Early Stages of a Small Business (1-2 People) (04:03) - Finding and Setting Up Your HQ (04:41) - Determining the Future of Your Company (05:13) - Option 1: Doing 1-2 Deals Per Year Accounting Software - Quickbooks (13:04) - What happens after closing your first deal and you’re looking for your next deal? (14:52) - How will your role change as your company grows? (15:39) - “Doubling” Your Business After Year 1 (17:20) - Hiring a Commercial Loan Assistant (19:11) - Challenges in Hiring Someone (22:08) - Hiring Asset Managers in Year 3 (24:01) - Creating Processes (25:58) - Increasing Your Prices and Preserving Fee Streams (29:09) - Making the Leap from 5-6 People to 25 people (37:31) - Wrap Up The FORT with Chris Powers is produced by Straight Up Podcasts

The guest, the anonymous 'Real Estate God,' is a savvy private equity investor from San Francisco, renowned for his insightful online presence on real estate investing. He dives into the impact of COVID-19 on office, retail, and hotel sectors, suggesting a cautious yet hopeful future. The discussion highlights the promising potential of multifamily investments and the importance of creative strategies in real estate. Additionally, he details his online course aimed at helping both newcomers and veterans build wealth, emphasizing mentorship and practical investment approaches.

This episode features the audio version of Fort Capital's 2020 Annual Letter detailing the decisions we made and the processes we followed throughout an unprecedented year. To read the full-text version, click here.   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/ (00:21) - A Year for the Record Books (02:11) - Remaining Focused in 2020 Jim Collin’s - Good to Great (02:47) - Fort Capital’s Flywheel (04:15) - C.O.R. Episode #65 on COR or read about it here. (05:03) - A Focus on Class B Industrial (05:47) - Why We are Focused on Buying and Operating Class B Industrial (08:56) - Strategies for Creating Value Across Our Investments Click here to sign up for our Broker Deal Incentive Program (10:40) - Fort Capital’s Track Record (11:36) - Investors If you’re interested in investing with us or would like to see our more detailed track record, please reach out to investors@fort-companies.com or fill out the ‘I want to invest with Fort Capital’ interest form here. (12:25) - FCP Management For Property Management inquiries, please contact Steve Bailey at sbailey@fort-companies.com (14:08) - A Technology-First Mindset (15:11) - What FOS Does for Our Company (16:11) - Advantages of FOS (17:30) - 2021 Outlook Episode #91 with Spencer Levy of CBRE (20:04) - A Shameless Ask If you know anyone that might have an industrial property to sell, we’d love to meet them. Please get in touch with us here. (20:50) - Get in Touch If you know of someone who would like to invest in industrial real estate across Texas, we’d love to connect with them. They can email investors@fort-companies.com or fill out the ‘I want to invest with Fort’ interest form here. Interested in joining our team? Fill out our two-question survey and submit your resume here. To learn more about our team, check out our portfolio, or read more about how we think. Connect with us on Social Media to stay in the loop on what we’re up to: Follow Chris on Twitter Follow Fort Capital on LinkedIn Subscribe to The FORT Podcast Subscribe to our Quarterly Newsletter