Breaking New Ground - Conversations with entrepreneurs who are innovating and redefining real estate

Thank you to our sponsors, Pugh Investment Partners. Pugh Investment Partners is the premier family office real estate co-investment platform.

Summary

John and Rachel discuss the current challenges in the economy and commercial real estate. They highlight the negative headlines and the economic slowdown. They also discuss the shift from a seller's market to a buyer's market and the impact on prices. They touch on the challenges faced by professionals in the industry and the importance of professional education and skill stacking. They emphasize the need for patience, consistency, and perseverance in navigating the current market. They encourage listeners to take advantage of the opportunities that arise during economic downturns and to stay positive and proactive. In this conversation, John and Rachel discuss the challenges of networking and building relationships after leaving a company. They emphasize the importance of being associated with a successful group and the need to push past the initial discomfort. They also highlight the value of building meaningful relationships and helping others without expecting immediate returns.

Rachel and John express their commitment to supporting and connecting with the commercial real estate and AEC communities. The conversation touches on topics such as the reputation of companies in the industry, the dynamics of networking events, and the role of venture capital firms in the real estate market.

Chapters

00:00 Introduction and Discussion of Current Headlines

02:07 Deal Flow and Market Conditions

04:03 Challenges in the Office Market

05:26 Stability in the Multifamily Market

06:53 The Outlook for the Economy and Commercial Real Estate

09:31 Nuances and Opportunities in the Market

11:31 Challenges and Opportunities for Professionals

13:25 The Need for Patience and Professional Education

16:04 Taking Advantage of the Current Market

18:08 Consistency and Perseverance in Building a Career

21:00 The Importance of Activity and Creating Value

24:37 Playing the Long Game and Overcoming Challenges

27:17 Navigating Ego and Imposter Syndrome

28:48 The Value of Showing Up and Building Relationships

29:35 Navigating Networking Challenges

31:02 Building Meaningful Relationships

32:57 Helping Others without Expecting Returns

48:21 Discrepancy Between Company Reputation and Success

52:12 Role of Venture Capital in Real Estate Market

Links:

John Pugh LinkedIn

Rachel Walters Linkedin

Keywords: Workplace strategy, commercial real estate, technology, Revise, space utilization, pandemic impact, office trends, real estate consulting, PropTech, workplace analytics

Summary

In this conversation, PJ Mugford, co-founder of Revise, shares his unique journey from brokerage to workplace strategy consulting, highlighting the significant shifts in commercial real estate post-pandemic. He discusses the importance of understanding space utilization, the role of technology in enhancing workplace strategy, and the innovative approach Revise takes to align client needs with real estate solutions. The conversation also touches on the future of PropTech and the necessity for human insight in leveraging technology effectively.

Bio

Peter brings 10 years of commercial real estate experience, offering a unique end-user perspective from his journey as a startup client and his role as a broker at CBRE. He founded a clothing company in college, pioneering the co-branding of Patagonia® apparel with collegiate logos and becoming the sole provider of licensed products. After opening several brick-and-mortar stores in Nantucket and Chestnut Hill, he transitioned into CRE brokerage, spending six years at CBRE, where he supported large corporations and high-growth startups. During the pandemic, Peter joined Unispace as a Principal for the Boston market, focusing on workplace strategy, design, and construction. In January 2023, he co-founded a tech company (Revise) specializing in commercial real estate and space planning. Revise collaborates with both end users and large landlords, including Tishman Speyer and Oxford Properties. Together, Revise’s help prospective tenants lease more space by providing data-driven insights. Peter’s diverse background and entrepreneurial spirit drive his commitment to innovation in the CRE industry.

Chapters

00:00 Introduction to Workplace Strategy and PJ's Journey

05:14 The Shift in Workplace Strategy Post-Pandemic

11:44 Understanding Space Utilization Trends

18:58 Revise: A New Approach to Workplace Strategy

25:20 The Role of Technology in Real Estate

30:10 Future Vision for Revise and PropTech

Get in touch with Peter:

Revise website

Peter "PJ" Mugford LinkedIn

Breaking New Ground with Sean Kelly-Rand - Providing Capital and Efficiency in Real Estate Financing

In this conversation, Rachel interviews Sean Kelly-Rand, the managing director of RD Advisors, about his background in commercial real estate and his involvement in PropTech. They discuss how Sean got into commercial real estate through his family's background in carpentry and real estate sales. They also explore the evolution of PropTech and the importance of finding efficient solutions to repetitive tasks. Sean shares his experience in building software and the value of being an entrepreneur in the PropTech space. They touch on the challenges of AI and the benefits of building software for specific needs. Finally, they discuss the efficiency and potential of Sean's software for due diligence and property acquisition. In this conversation, Sean Kelly-Rand discusses the software his company, Rapid REI (Now REOREI), is building to streamline the real estate investment process. He explains the need for a mobile-friendly platform that allows investors to quickly analyze potential deals, create investment models, and submit offers on the go. Sean also talks about the lending side of his business, RD Advisors, and how they provide real estate loans to investors and developers. He emphasizes the importance of capital availability and the ability to close deals quickly in a competitive market. Sean shares his excitement about the opportunities in the real estate market in 2024, particularly in the commercial sector where there are potential investment opportunities due to the current market conditions.

Connect with Sean:Website: ⁠https://rdadvisorsre.com⁠LinkedIn: ⁠https://www.linkedin.com/in/seankellyrand/⁠*change in startup name to REOREI: ⁠https://reorei.com/⁠

Chapters:00:00 Introduction and Event Recap01:39 Sean's Background in Commercial Real Estate05:29 Building Software for Specific Needs08:59 The Value of Entrepreneurship in PropTech13:11 Catering to Entrepreneurs in Commercial Real Estate25:01 Streamlining Real Estate Investment with Mobile-Friendly Software33:26 Providing Capital Availability and Efficiency in Real Estate Financing40:39 Exciting Opportunities in the Commercial Real Estate Market in 2024

Title: Aleksey Chernobelskiy - Bridging the Gap: Transparency in Real Estate Investing

Summary:

In this conversation, Aleksey Chernobelskiy shares his entrepreneurial journey in commercial real estate. He discusses his transition from being a W2 employee to becoming an advisor to limited partners (LPs) investing in real estate. Aleksey talks about the underserved market of LPs in the syndication space and the importance of education in making informed investment decisions. He also highlights the need for transparency in the industry and his goal of bridging the gap between LPs and general partners (GPs). Additionally, Aleksey discusses his social media presence and the challenges of building a following while being employed by someone else. In this conversation, Aleksey Chernobelskiy discusses the power of social media in building relationships and influencing people. He shares his realization that social media allows for developing relationships at scale and reaching a larger audience than traditional channels. Aleksey emphasizes the importance of authenticity and engaging with the audience, as well as the challenges of building an audience and the need for direct access to followers. He also explores the strategic considerations of growing his business and the decision between building a company or maintaining a more flexible lifestyle.

Follow along with Aleksey on X at @chernobelskiy

Email: [email protected]

LinkedIn: @chernobelskiy

Website: www.LPlessons.co

Chapters

00:00 Introduction and Origin Story

02:54 The Underserved Market of Limited Partners in Syndication

05:46 The Importance of Education in Making Informed Investment Decisions

08:56 Bridging the Gap: Transparency in the Real Estate Industry

11:59 Building a Social Media Following as an Entrepreneur

24:17 Authenticity and Engagement

28:23 Navigating Algorithm Changes

30:36 Consistency and Audience Growth

36:23 The Importance of Humor and Engagement

41:21 Strategic Considerations for Business Growth

Key Takeaways

Transitioning from being a W2 employee to becoming an advisor in commercial real estate

The underserved market of limited partners in the syndication space

The importance of education in making informed investment decisions

The need for transparency in the industry and bridging the gap between LPs and GPs

Challenges of building a social media following while being employed by someone else Social media allows for developing relationships at scale and reaching a larger audience than traditional channels.

Authenticity and engaging with the audience are key to building a following.

Building an audience requires consistency and understanding the platform's algorithms.

Strategic considerations include deciding between building a company or maintaining a flexible lifestyle.

Learning from other business models and seeking advice from experienced entrepreneurs can help navigate the challenges of business growth.

In this episode Andrew Consigli shares his journey from architect to real estate developer. He has grown his company, Civico over the past 10 years into a leading mixed-income housing developer in New England. Andrew and his team utilize creative financing to get their projects built.

Civico Development Website

Andrew Consigli's LinkedIn Profile

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠⁠here⁠⁠.

In this episode, AJ Rich, managing partner at Legacy Ventures, shares his journey in commercial real estate. AJ's story spans over two decades, starting in a construction family and exploring various aspects of the real estate and construction industries. His experiences range from running a brokerage to operating heavy machinery and developing gas stations. AJ emphasizes the importance of learning by doing and the value of diverse experiences in shaping his career.

AJ discusses his venture into the fitness industry, co-founding a luxury boxing gym with George Foreman III. He highlights the significance of design in creating a welcoming environment and the role of strong partnerships in achieving success. AJ's interest in technology and its parallels with construction is a recurring theme, leading to his current focus on investing in technology companies that are real estate and construction adjacent.

The conversation touches on the challenges and opportunities in construction technology, emphasizing the need for thoughtful approaches and long-term investments. AJ shares insights into his investment strategy, focusing on solutions that address real operator problems and the importance of building industry standards.

To learn more about AJ and Legacy Capital Ventures please go to https://www.legacycv.com/about

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠⁠here⁠⁠.

Show Notes with timestamps:

Introduction

• [0:00] Host: Rachel and John introduce the podcast and welcome AJ Rich.
• [0:11] Rachel introduces AJ as a serial entrepreneur and managing partner at Legacy Ventures.
• [0:18] John thanks AJ for joining the podcast.

AJ's Background and Journey

• [0:22] AJ shares his background and journey in the construction and real estate industries.
• [0:36] Describes growing up in a construction family and his early exposure to the industry.
• [2:30] Talks about running his own brokerage and gaining diverse real estate experience.

Building the Gym

• [3:14] AJ discusses co-founding a luxury boxing gym with George Foreman III.
• [4:00] Importance of design in creating a welcoming environment for gym members.
• [6:45] Emphasizes the role of partnerships in achieving success in the fitness venture.

Interest in Technology

• [10:23] AJ talks about his interest in technology and its parallels with construction.
• [12:18] Shares experiences in developing technology products for operational needs.
• [17:59] Discusses his investment strategy and focus on solving real operator problems.

Investment Strategy

• [22:27] Importance of thoughtful approaches to customer needs and product development.
• [29:00] Long-term investment perspective for meaningful technology companies.

Construction Technology

• [32:22] Example of using Struction Site for site visits and documentation.
• [35:33] Emphasis on transparency and real-time monitoring in construction projects.
• [37:10] Discussion on the potential of energy-related technologies and the concept of a CARFAX for homes.

Closing Thoughts

• [41:24] AJ discusses the importance of long-term relationships and legacy building in business.
• [45:02] Excitement about opportunities in construction technology and the future of the industry.

Final Question

• [45:41] What AJ is excited about in CRE for 2024: Streamlining documentation, better management of project end documentation, and advancements in scan-to-BIM technologies.

Conclusion

• [48:19] AJ expresses enthusiasm for ongoing conversations and future opportunities.
• [48:30] Hosts thank AJ for his insights and look forward to future discussions.

Pugh Management is a proud sponsor of Breaking New Ground. Pugh develops property in New England and Central Florida. Check out their site here.

Nadine is an innovation strategist and practicing attorney with almost 20 years of unique experience at the intersection of commercial real estate, the law, and technology. She is the founder of ezzie + co., a cutting edge real estate advisory firm that ensures companies are positioned to thrive within the ever-changing real estate landscape. Recognizing that the ability to be nimble and creative is the key to sustainable success in CRE, she works with teams to design and execute plans that harness innovation, data, and technology - resulting in operational efficiency, reduced costs, and increased productivity. Her past roles both as General Counsel for an industrial developer and head of customer success for a PropTech company granted her the opportunities necessary to hone the skills she applies with her clients today. Nadine serves as an advisor to a number of emerging PropTech and LegalTech companies and is a sought after speaker and author on the topics of AI, legal tech, and operational ecosystems within commercial real estate. She is also the co-host of the podcast, CRE Unplugged: Innovating from the Streets to the Skyline.

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠here⁠.

In this episode we chat with Antonia Botero and explore her real estate entrepreneurship journey, from architect to developer. She has worked on a variety of project types and scales across the country. Antonia shares details on how she grew her business using social media during the pandemic, and never looked back.

We hope you find her story as inspirational as we do!

Below is Antonia's bio and a link to her company, MADD Project.

Antonia's company:MADD Project

Antonia's bio:

Antonia brings a wealth of diverse knowledge to her firm with nearly 20 years of experience in the design and construction industry.

Her development project management experience ranges from large-scale multi-family conversion and ground-up construction projects in Manhattan to branded and independent hotel renovations across national markets.

Antonia received an M.S. in Urban Design from the Massachusetts Institute of Technology and a Professional Bachelor’s degree in Architecture from the University of Miami. She is also a registered architect in Florida, New York and Utah, and is nationally certified by NCARB.

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠here⁠.

A conversation with real estate entrepreneur Darren Wilson. The discussion ranges from his experience working in tech start-ups in Austin all the way through his early real estate investments. He most recently worked as the Chief Investment Officer at a prominent Tampa family office. He recently went out on his own founding Tampa Property Group to invest and redevelop in commercial real estate.

You can learn more and connect with Darren on LinkedIn at this link.

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠here⁠.

In this episode, we connect with John Pugh our host.  Rachel Walters interviews John and they discuss the motivation they have for the podcast.  The conversation covers John's time working in FinTech on Wall Street all the way to today, what types of deals he is looking for, and why he's excited to host the Real Estate Tech Insider.  

Thank you to our sponsors Pugh Management! Pugh provides development, investment, and consulting services in Tampa, Florida and Boston, MA. Link to their webpage is ⁠here⁠.