11/6/11: Multi-Family Market Musings plus a Different Look at the Rat Race
Who in their right mind would buy over $300 million of real estate in the middle of a giant recession?
And if that isn’t crazy enough, who would think that people actually need and love the rat race?
In this eclectic episode of The Real Estate Guys™ radio show, we talk to two very thought provoking guys who look at the world a little differently than your average Joe.
Behind the microphones to bare their brains for all the world to hear:
- Your thoughtful host, Robert Helms
- Bestselling author, real estate entrepreneur and Rich Dad real estate advisor to Robert Kiyosaki, Ken McElroy
- Former White House director of economic policy, author and speaker, Todd Buchholz
First up in these serial interviews is our pal, Ken McElroy. We love Ken because he’s both the real deal and a regular guy.
Obviously, anyone who has the chops to acquire $300 million of real estate in the midst of the worst financial meltdown in decades is probably worth listening to. We’re very grateful that he’s willing to let us come hang out in his office and record our conversations to share with you!
HINT: Spending time with uber successful people is a really great idea – especially when they’re willing to share their wisdom.
So grab your note pad and listen in as Ken McElroy muses on the multi-family market – where it is, where it’s headed and what he’s doing in it. And even if you’re not ready to be a multi-family mogul, you’re sure to pick up great ideas that you can apply to your own situation.
Next, we bring you a sit down interview with former White House director of economic policy, managing director of the Tiger hedge fund, co-producer of the Tony Award-winning Broadway hit Jersey Boys, author and speaker, Todd Buchholz. Yeah, he’s a real couch potato.
How, you may ask, do we always manage to find these amazing guests? Let’s just say we leave no stone unturned in our quest to bring you thought provoking and useful perspectives!
Now Todd’s topic really has nothing to do with real estate, but a lot to do with people and what motivates them to work. So if you’re a person and you’re working by desire or necessity, this interview has some great thoughts for you.
Todd’s written a book called Rush – Why You Need and Love The Rat Race. Now, while many people become real estate investors so they can “get out of the rat race”, Todd’s premise is that people actually thrive not on relaxing, but in working towards worthwhile goals. We’re guessing he’s a type A, but it’s just a theory. 
We found the interview very interesting because his book speaks to the deepest needs and motivations of people to work. Obviously, to be happy, people need to organize their activities and finances to provide the environment which fulfill their needs and motivations. The big question then is, what do you really, REALLY want?
So, as we approach the end of another year (can you believe it?!?), it’s a great time to contemplate your motivations, goals, plans and activities. We think this interview will help stimulate those contemplations.
And if you want to take the whole process (warning – upcoming shameless self-promotion) to a much deeper and practical level, you’ll want to attend our upcoming goal setting workshop.
For now, enjoy these stimulating conversations with two very bright and accomplished guys.
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2/21/10: Commercial Property Update – Woes, Recovery & Opportunity
Many people think that the residential real estate crisis and its impact on banks and the secondary mortgage market have set the table for an even bigger implosion in commercial real estate. But if you believe that opportunities often come dressed as problems wearing work clothes, maybe that isn’t so bad.
In studio today to take a look at the State of Union in commercial real estate are:
- Your President and host, Robert Helms
- Co-host and teleprompter operator, Russell Gray
- Our Speaker of the House, the Godfather of Real Estate, Bob Helms
With so much focus on the residential real estate and mortgage markets, which is of much greater interest to the main street consumer and news outlets which cater to them, we thought it would be interesting to take a look at the commercial side of real estate. Many observers think that there are dark days head for commercial properties, but what are the current trends? More importantly, where are the best opportunities today and in the future?
We start out by taking a look at the sales and pricing trends in retail real estate. What affect is the soft economy and subdued consumer spending having on retail occupancies, rents and cap rates? Will money be available to purchase and refinance these properties? Will there be buyers? Inquiring minds want to know!
Sticking with the discussion of concerns about the availability of funding, we delve into a discussion of what’s happening in multi-family where government subsidized money has been plentiful. With the pressure on Fannie Mae, will multi-family residential funding remain available? What if it dries up?
Another side effect of a soft economy is financially weak or insolvent tenants. Are commercial tenants starting to walk away from leases like homeowners are walking on upside down mortgages? And how likely are they to accept rent increases? It seems to be a tenant’s market right now.
Now there are lots of facets to commercial real estate and we can’t possibly cover them all in one show, so we decided to wrap up with some talk about office – and what’s happening to vacancy and rental rates in today’s “jobless” recovery. If that isn’t an oxymoron, it should be. It’s like saying “reliable copier”.
Of course, we can’t talk about all the challenges without remembering that problems often bring with opportunity – for those willing to think independently and outside the box. As always, there are no magic formulas or one-size-fits-all solutions. Challenging markets require courage, creativity and the kind of capital that comes as much from time, talent and relationships as it does from credit lines and cash deposits. The good news is that when the going gets tough, most of the competition goes off and follows the herd to “greener” pastures. If you believe the real estate “grass” will grow again, then it might be a good time to stake out some new territory.
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