The following Q&A was completed as part of our conversational Commercial Real Estate FAQ Interview Series, we hope you find it helpful.
For small real estate investment firms or development firms looking to grow to a hundred million dollars per year, building your team and using that team is absolutely critical. Some may build teams, utilize those teams for a while, and then neglect the wealth of information available to them as their confidence grows. Your team is there for a reason, and that reason is to drive you to success.
Richard Wilson: What advice would you have if you became a board member of a small real estate investment firm, or a real estate development firm, or a sponsor, looking to grow to a hundred million dollars a year in volume, or a hundred million in AUM, you know with all the real estate investment firm counterparties you deal with, what suggestions would you give them that that maybe we haven’t covered here during this interview series yet today?
David Greer: I’m going to go back, I know we’ve used it twice in some of the questions that you’ve asked but back to the advisors that you surround yourself with. I think that’s a critical component and meeting with them on a regular basis to solicit feedback and also look for that experience that they may have in their respective markets, but just can’t underestimate the power of having the right team around you and utilizing the team. Alright, so one is having it and building it, but continuing to utilize it I think is absolutely critical.
Richard: Right, okay.