The Fort

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

Fort Capital COO, Jason Baxter, returns to discuss Fort Capital's 2020 'Year in Review'. On this episode, Chris and Jason discuss the processes implemented in 2019 that helped our team through the pandemic in 2020, starting a property management company, doubling down on industrial, key improvements made to the team, the importance of technology & AI for your business, and much more. Click here to read Fort Capital's 2020 Annual Letter. 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/ (00:52) - What are the things we did as a company as it relates to COVID? What did we do in 2019 that positioned us for success? (04:45) - The Flywheel at Fort Capital Turning the Flywheel by Jim Collins (10:13) - The First 2 Months of 2020 and Getting Into Property Management Fort Capital 2018 Year in Review Fort Capital 2019 Year in Review (14:22) - Why We Selected Yardi (16:17) - Onboarding our Properties Pre-COVID and During COVID (16:57) - Doubling Down on Industrial (20:39) - COR Improvements in 2020 [Cutting Costs & Managing Data] (25:33) - Working With the Banks FORT Episode #59 with James Hill (On Banking) (29:02) - What are some key things we did to improve the company on a department level? (34:05) - Improving Investor Reporting (36:38) - The Importance of Technology to Make Your Business Better (41:01) - Some of the Tools We’ve Built and How We’re Thinking About Acquisitions in 2021 (45:05) - The Predictability Score (54:08) - Fort Capital’s Acquisition Consultant Program & Broker Incentive Program (58:27) - Final Stats for 2020 (Closing, Raising, Investors) and Goals for 2021 (1:00:58) - Our Shameless Ask & What Fort Capital is Looking For (1:01:40) - Final Thoughts and Goals Looking at 2021 The FORT with Chris Powers is produced by Straight Up Podcasts

Jonathan Wasserstrum is CEO and Co-Founder of SquareFoot, a personal commercial real estate assistant. Prior to business school, Wasserstrum worked in the International Capital Group at Jones Lang LaSalle where he advised foreign and domestic clients on more than $3 billion worth of transactions globally. On this episode, Chris and Jonathan discuss his experience starting his career in capital markets during the financial crash, starting SquareFoot in his parents' attic and the New York office environment through the pandemic. They also discuss the process of raising capital, operating a rolling fund, and the world of Angel Investing. 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/ (02:30) - Jonathan’s Story  (03:39) - What did the ’07-’08 crisis look like for you as you started your career in real estate? (04:31) - What was your specialty when you worked in capital markets? (06:05) - Do you remember any moments during the crash where it hit you how bad it was going to be? (07:14) - What’s the fulcrum piece of the capital stack? (09:47) - What was the journey like from business school to launching SquareFoot? (11:25) - Did you have a co-founder from the jump? (12:31) - Was the domain name available when you started SquareFoot? (13:08) - How did you go about purchasing the domain? (13:43) - What is SquareFoot? How are you all doing things differently? (16:12) - What’s a management agreement? (20:04) - Do you have a target customer? (21:00) - Is this target market trying to lease within a certain amount of time? (21:56) - What markets are you located in? (23:10) - What’s the office environment like in New York City right now? (25:46) - Are you seeing data of new folks moving to New York or is it an internal movement? (26:39) - What was it like raising capital? How was your experience working with VCs? (30:46) - How many VCs are there in the country that would be interested in something like SquareFoot? (31:28) - What are your thoughts on the office in the future? How will it be different and how will it be the same? (33:36) - Is there a world for the Airbnb home-office? (34:40) - The WFH vs. Office Debate (36:18) - How do you find new customers? (37:20) - What’s the ultimate goal for SquareFoot? (37:49) - Where are the brokers that you hire coming from? (39:55) - What technology do you provide your brokers with to give them a leg up? (41:32) - What was your experience buying PivotDesk? (43:14) - Jonathan’s Night Hobby as an Investor on AngelList (43:45) - How does a rolling fund work? (45:52) - Are you still doing syndicates? (46:58) - How many investments have you made? (47:45) - What’s considered a good performing fund? (49:10) - Do you have a childhood experience that’s shaped who you are today? (51:04) - What’s a book that’s had an impact on you? Danny Meyer - Setting the Table Meditations - Marcus Aurelius  (52:13) - If you had a billboard that you could put anything on, what would it say? (52:35) - Contact Jonathan: SquareFoot.com PivotDesk.com Jonathan on LinkedIn: www.linkedin.com/in/jonathan-wasserstrum-8a77533/ Jonathan on Twitter: www.Twitter.com/JMwass Link to Jonathan's Rolling Fund: www.angel.co/v/back/jonathan-wasserstrum The FORT with Chris Powers is produced by Straight Up Podcasts

Chris Weekley is the Executive Vice President at David Weekley Homes, one of the largest privately-held home building firms in the country. On this episode, they discuss the culture at DWH, Weekley's different product types in home building, the challenges and opportunities in home building, markets across the country, what 2020 presented for home builders, and what 2021 looks like. 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/ Connect with Chris Weekley: www.linkedin.com/in/chris-weekley-892960/ (02:13) - Chris’ Story Acton School of Business | MBA (06:41) - Growing up, was your father’s work/family separation intentional in light of running a family business? (07:36) - How is 'The Life of Meaning Class' at Acton structured? How do they get the answer out of you? (10:05) - Where did you go after you got your MBA? (12:58) - How does David Weekley Homes's approach to team culture allow it to be able to retain talent for so long? (17:15) - What is David Weekley University and how did it come about? (19:43) - What’s the application process to get into DWU? (20:34) - How many markets are you in? How do you think about moving into new markets? (23:19) - Where are the hottest markets in the country right now? (24:52) - What are the 'Encore and Imagination' projects within David Weekley Homes? (26:36) - Do you focus more on central or suburban living for 'Imagination'? (28:33) - For the active adult communities you develop, do they have to be empty nesters or are they able to have kids with them? (29:31) - What are things that the 55+ age people want in a house & community? (31:17) - Are you anticipating a trend of home-offices being built in light of COVID? (32:44) - Are the millennials buying later in life? Are they requiring different things in their builds? (34:44) - How do you think about designing communities and commuting as Uber and self-driving cars continue to become more popular? (37:20) - How do you think about the growing asset class of single-family rental? (40:55) - What are the specific differences between the single-family rentals and what you normally build? (42:22) - How do you raise money to build all these homes if you aren’t public? (44:04) - How do you think about the year following a sale with home builders having to eat a lot of costs after the fact with different warranties or finishes that arise? (47:27) - How are you thinking about the high cost of lumber? Are you hedging your bet on that? (49:50) - What are the biggest challenges that you think about on a day-to-day basis? (51:53) - Is the USA under-built or over-built? (53:01) - Is there any technology on the horizon that will have a dramatic impact on the speed of building or cost of homes? (55:01) - Is there any silver bullet to combat the increased difficulty of working with cities? (57:23) - Do you have a childhood experience that has changed the direction of your life? Boy Scouts Outward Bound Amigos De Las Americas (58:57) - What’s the best advice you’ve ever received? (1:00:16) - Are there any books that have had an impact on you? Clive Cussler - The Dirk Pitt Adventures Grit - Angela Duckworth Shoe Dog - Phil Knight Adam Grant books The Dichotomy of Leadership - Jocko Willink (1:01:37) - Chris’ Book Club w/ His Management Team The FORT with Chris Powers is produced by Straight Up Podcasts

Tommy McGuire is the President of Echo Environmental, which specializes in electronic recycling, IT asset management, and scrap metal purchasing. Echo Environmental has raised the bar and redefined what it means to be an end-of-life recycler.  On this episode, Chris and Tommy discuss the world of scrap and how Echo has been able to recycle hundreds of thousands of pounds of technology per day to be used again in the American supply chain. They'll talk about what actually happens when these products end up in landfills, the importance of taking initiative when bringing new ideas to leadership, Tommy's meteoric rise at Echo, and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.Linkedin.com/in/chrispowersjr/ (02:25) - Introduction & Tommy’s Story (04:02) - Tommy’s Experience Working in Insurance & Being a Natural Salesman (05:47) - What did the world of scrap look like in 2012 and what was your role? (07:31) - Where does scrap come from? How do you define it? (08:54) - How much scrap is created in America each year? (10:30) - Who are your typical customers? (11:05) - What do you do when all of this material arrives at your facility? (13:15) - Are you usually getting the same amount of material out of each charter box? (14:15) - What happens to the materials once you’re done processing it all? (15:03) - Is copper pulled from a circuit board still as useful as the first time it was used? (16:31) - What was the process of growth like going from 50-pound sales in 2012 to 100K+ pounds per day now? (18:04) - Are there any other business components besides Echo and ITAD? (19:08) - Do you need licenses to do all of this or could I just start this in my garage? Watch: 60 Minutes Episode of Town in China With Mountains of Old Electronics (23:20) - What actually happens when these products end up in landfills? How does it affect the Earth? (26:29) - How would an individual dispose of these electronics? (28:01) - Is contaminating the groundwater the biggest risk from all of this? (30:06) - Thoughts on ESG (33:19) - Is there any innovation going on that's working against you in technology? (35:32) - Are hard drives ever really wiped? (38:06) - Is there a business to be created that offers a ‘seal of approval’ that something is truly wiped? (42:39) - Is it really cleared in consumer products when an individual does a factory reset? (43:01) - What about smashing a phone? Can that data be retrieved? (44:19) - Has COVID helped your business? (47:10) - How have you managed to make such a progression in your career in going from salesman to President? What’s your playbook? (55:10) - Innovating by Presenting Ideas & Taking Initiative (57:58) - Re-Using Company Products to Make Really Cool Things (1:01:48) - Why did you go to business school? Was it a value-add?  Read: Reed Hastings - Your Company Is Not a Family (1:08:43) - Is there a childhood experience that formed who you are today? (1:10:12) - Do you have a morning routine? (1:11:27) - What’s the best advice you’ve ever been given? (1:12:45) - If you had a billboard that you could put anything on, what would it say? Learn more about Echo Environmental: www.echoenvironmental.com Follow Tommy on LinkedIn The FORT with Chris Powers is produced by Straight Up Podcasts