POWERS

On this episode, Chris discusses incentives that drive companies and people, COR - how to incentive your people to make money and watch expenses, and why it all starts with the culture of your company. 

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

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(03:22) - You Should Strive to be Profitable 

(04:32)  - Culture vs. Incentives 

Super Chickens w/ Margaret Heffernan

(08:20) - Social Capital

(09:20) - Incentivizing a Team Environment

The Fort Podcast Episode #65 on COR

(10:45) - Using COR as an Incentive

(20:10)  - There is No Perfect Incentive

The Fort Podcast episode #47 w/ Andrew Segal

The Fort Podcast Episode #64 w/ Andrew Segal

Twitter Questions:

(27:20) -  How do you incentivize at FC based on Promote? 

(30:34) - Rolling Bonuses

(34:20) - How do you incentivize brokers?

(35:50) - How do you incentivize the back office?

(38:08) - Incentives are not only about making money

The Fort is produced by Johnny Podcasts

On this episode, Chris talks with the anonymous @CarDealershipGuy (https://twitter.com/GuyDealership) about the used car business – how it works and how money is made. They also cover how to negotiate the best deal possible when buying a used car and the current state of the used car market and where we go from here.

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Follow CarDealershipGuy on Twitter: https://twitter.com/GuyDealership

(1:35) - Why did you create this twitter account and what’s your angle?

(6:06) - All the tips and tricks to know when buying a used car

cardealershipguy.org

(9:30) - Is there a way to know if your dealership is reputable?

YAA

SureSale

(11:53) - Buying vs. Leasing

(14:03) - Why did we see a 40% spike in prices?

(16:14) - What’s a depreciation cycle?

(18:59) - How do you determine whether a purchase is for lifestyle vs. value?

(19:54) - What are folks going to do if they bought at the peak of the market and now depreciation is kicking in?

GAP insurance

(23:32) - What’s the process of best financing a used car?

(25:26) - How do you think about warranties?

(33:19) - What are some red flags you might see in the buyer’s journey?

CDG’s Negotiation playbook

(36:30) - How to Negotiate a Car in Normal Times and How Car Salesmen Are Actually Paid

(48:00) - Where do most dealerships get their inventory?

(51:03) - How do auctions work?

(54:25) - Buying inventory online

(55:38) - Can anyone become a used car dealer?

(58:42) - What separates the great used car dealers?

(1:02:11) - How do car dealers make money?

(1:10:39) - How do you define added products?

(1:13:10) - How do inventory supply negotiations work?

(1:14:13) - Buying Out Your Lease and Then Selling vs. Selling While Under Lease

(1:15:07) - Is there a growing demand for electric vehicles?

(1:21:28) - Is there anything in the innovation space that will appeal to the average consumer?

Bo Aughtry, Chairman & CEO of Windsor Aughtry Commercial, entered the real estate business out of college and in 1975 helped found Small and Aughtry, a real estate development and brokerage firm. In 1980, Bo established The Aughtry Company, a commercial real estate development and brokerage firm, and Aughtry Securities Corporation, an NASD Broker/Dealer, serving as president of both. In 1988 the companies merged with Windsor Properties, Inc., then a Greenville-based home-building firm, thereby forming Windsor/Aughtry Company, Inc.

On this episode, Bo discusses lessons learned through many economic cycles and Short Term Rentals as a competitor. Chris and Bo also chat about how WAC develops hotels - selecting markets, sites, construction, and partnering with hotel brands. Enjoy!

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

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(02:03) - Bo’s Background and Career in Real Estate

(05:41) - Bo’s Experience During the OPEC Oil Embargo

(10:40) - When you think back on the cycles you’ve experienced, could you sense them or did they come unexpectedly?

(13:33) - What are the chain of events that happen during an unraveling?

(17:54) - Are you sensing anything right now?

Psychology of money by Morgan Housel

(25:13) - When the interest rates went to 21.5% prime, how long did they stay that high and what happened during that period?

(28:46) - How did you get into hotel development?

(32:03) - How do you select sites when developing a hotel?

(35:43) - Who is your average guests when building in a college town?

(39:12) - Do you try to sign contracts with universities?

(40:57) - How do you select the brand of hotel?

(42:28) - What’s the differentiation of risk between you and the hotel brand?

(44:58) - Do you have to follow the specs of the hotel brand or do they give you freedom of design?

(47:11) - What’s an affinity program?

(47:53) - Who purchases the furniture for the hotel?

(50:47) - What does Hilton provide to you beyond a booking system and marketing?

(52:08) - Thoughts on Construction 

(56:43) - Thoughts on AirBnb & STR’s

(1:03:29) - Why do you pursue heads-up deals and what matters to you in partnerships?

(1:09:39) - If you could go back and tell your 35 year-old self some wisdom, what would it be?

Craig Fuller is the Founder and CEO of FreightWaves, the leading provider of global supply chain market intelligence and news. Prior to FreightWaves, Craig was the founder of TransCard, a major provider of fleet fuel and debit cards. He is also the CEO of FLYING Magazine, the world’s most widely read aviation magazine. Previously, Fuller founded the Xpress Direct division of US Xpress, the leading provider of on-demand expedited truckload services.

On this episode, Chris and Craig discuss how the geopolitical landscape impacts supply chains and why we'll never go back to where we were in a post-covid world. They chat USA vs China - and the implications we're likely to experience going forward, the American consumer and supply chains and how technology impacts better and more efficient supply chains. Enjoy!

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

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(01:23) - Craig’s Background in Supply Chain & Transportation

(04:36) - FreightWaves

(08:46) - How would you explain what a supply chain is?

(15:42) - What’s happening in the global supply chain right now?

(25:05) - Thoughts on China

(35:16) - What does China’s activity mean for America long-term?

(45:20) - Is there any way we go back to the old relationship with China?

(46:32) - What’s the best option for America if we completely pull out of China?

(49:40) - Should we expect supply chain issues for the foreseeable future?

(51:48) - Do we even have the labor in America if we wanted to bring manufacturing back from China?

(55:21) - Predictions For The Future of China

(1:00:40) - What’s the most dominant form of supply transportation?

(1:01:57) - Why are the ports so congested?

(1:06:26) - Is the world going to become more challenging for small businesses as the global supply chain evolves?

(1:09:57) - Is what’s happening in China arguably the largest implication in where the world goes?

(1:10:41) - What interesting data do you have that is a predictor of where we are today?

(1:17:27) - Is it cheaper for a consumer to get a product in person or have it delivered to them?

(1:22:02) - The consumer trend favoring experiences over products

(1:24:27) - Inflation Predictions

(1:26:36) - Is there any breakthrough tech that excites you right now?

(1:31:34) - Final Thoughts

Nick Clark founded Common Desk in 2012 after leaving a career in office leasing and management. Common Desk has since become a coworking industry leader in design, hospitality, and asset-light deal structures with office landlords. After scaling the brand to 23 locations throughout Texas and North Carolina, WeWork acquired Common Desk at the beginning of 2022. Common Desk as a brand will remain and Nick is still at the helm of the company's continued growth plan.

On this episode, Nick shares why they sold to WeWork and what the future of the company will look like, and why Common Desk chooses management agreements with landlords. He deep dives into why the return to office will come back in a major way, what has changed and how flexible office space going from 2% to 25% of the office market. Enjoy! 

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/

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Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 

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Common Desk

Nick Clark on LinkedIn

(03:12) - What are you seeing now in the world as we emerge from Covid?

(05:20) - How are banks and capital markets reacting to the new trend of shorter-term leases? 

(07:57) - The Management Agreement Model

(10:07) - Do the rest of the building tenants benefit from the flex-office operation or is it only common desk customers?

(12:05) - Do you perform better being located on the first or second floor of a building?

(12:36) -Is there data that shows a building performs better when all tenants can participate in common desk amenities?

(14:15) - Do you only operate off the management agreement model?

(19:35) - What services does Common Desk provide within the space?

(20:49) - Are you seeing larger companies coming into Common Desk who really want you take care of the amenity side of work?

(24:53) -  What are the key things that make a successful Common Desk location?

(29:42) - The Process of Selling Common Desk to WeWork

(37:30) - How long does it take to open one location?

(38:26) - Do you think the changes in the way we work over the past two years are permanent?

(42:18) - Is there anything interesting WeWork is doing behind the scenes they’re really focused on?

(44:39) - Does Common Desk only work in an office setting or have you thought about occupying other asset classes?

(45:55) - Did you learn anything about business or life grinding through Covid as a leader of a company?

(48:47) - Nick’s Belief That Lawns Shouldn’t Exist

(51:24) - Nick’s Desire To Buy a Waffle House

Robin Sharma is a humanitarian who has devoted his life to helping people express their highest natural gifts. He is widely regarded as one of the top leadership and personal-mastery experts in the world. His clients include NASA, Microsoft, NIKE, Unilever, GE, FedEx, HP, Starbucks, Oracle, Yale University, PwC, IBM Watson, and the Young Presidents’ Organization. His #1 international bestsellers, such as The 5 AM Club, The Greatness Guide, and Who Will Cry When You Die?, have sold millions of copies in over ninety-two languages, making him one of the most widely read authors on the planet.

On this episode, Robin and Chris discuss the characteristics of the top leaders in the world - good and bad. They uncover excerpts from Robin’s latest book - Everyday Hero Manifesto and how to apply them daily. Robin also shares the 20/20/20 rule of getting your day started and how you can parent in a way that inspires kids to become leaders and much more.

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

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Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQ

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(01:17) - Robins Career & Background

(03:07) - Feeling Angst and Unfulfilled

(06:58) - Experiencing Trauma & Understanding our Feelings

The Power of Positive Thinking by Norman Vincent Peale

(11:09) - Why does everyone say mindset is the only way to succeed?

(12:56) - Optimizing Your Morning: The 20-20-20 Routine

The 5AM Club by Robin Sharma

(17:59) - How does drinking affect the 20-20-20 opportunity?

(19:05) - Can you teach curiosity?

(22:02) - Hidden Traits of Billionaires

(25:41) - Seeking Validation from a Very Young Age

(28:41) - What’s your process when you get negativity on social media?

(33:10) - What brings down the largest public figures in society?

(37:07) - How do you help the most successful people grow their businesses even more?

(42:15) - How much of your life outside of work impacts your business?

(44:29) - Legacy is a Waste of Time

Who Will Cry When You Die? by Robin Sharma

Meditations by Marcus Aurelius

(47:35) - The Anti-Hustle Culture

(52:18) - Do you have an opinion on WFH?

(54:20) - Do you have a childhood experience that shaped you?

(55:37) - Advice to Young Parents

(58:46) - How can people contact you and read your book?

The Everyday Hero Manifesto by Robin Sharma

Robin on Instagram

The Mastery Sessions Podcast

RobinSharma.com

The Fort is produced by Johnny Podcasts

Part 1 of the 2-part exciting webinar session that Nick Huber had with Chris Powers on The Nick Huber Show. They talk about current events, highlights of our acquisition process, the market for GP, and many more!

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 

Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQ

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Nick Huber on Twitter: www.Twitter.com/SweatyStartup

Nick's Podcast: https://podcasts.apple.com/us/podcast/the-sweaty-startup/id1445260221

(04:50) - Thoughts on Interest Rate Hikes & Covid-19 Learnings

(09:04) - Inflation & Deflation

(15:16) - Industrial & Storage Rent Rates

(20:40) - Outdoor Storage Needs

(22:50) - Wealthy vs. Middle Class Consumer Behavior

(24:18) - Bitcoin, Crypto & Web3

(29:57) - BREIT

(32:41) - Population Growth & Migration

(37:36) - In-office vs. Remote work

(46:30) - Building a Sustainable RE Private Equity Company

(48:48) - Inflation Prredictions

(49:58) - Can normies still get into self-storage?

(52:39) - Wrap Up

The Fort is produced by Johnny Podcasts

Brom Rector, Founder, and GP of Empath Ventures. Prior to founding Empath, Brom spent 7 years as a portfolio manager and quantitative researcher - most recently managing a global macro portfolio for Crabel Capital Management - a Los Angeles-based hedge fund with $8B AUM. After leaving Crabel in 2020, Brom started The Integration Conversation, a long-form video podcast that covers the psychedelics industry from an investing perspective. The research that went into this podcast and the connections it established laid the groundwork for what would become Empath Ventures.

On this episode, Brom gives a breakdown on the breakdown of the Psychedelic industry and landscape. They discuss why Brom raised a fund to target psychedelics and how he's investing the money and why it's one of the largest opportunities in the world. Listen to hear Brom’s thoughts on what the next 10 years of psychedelics might look like and much more!

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

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(01:56) - Brom’s Background and Career in Psychedelics

Empath ventures

(07:22) - Why have psychedelics been illegal and shunned from society?

(11:28) - What’s Big Pharma’s role in this?

(12:49) - What is the chemical reaction happening inside the body when one takes psychedelics?

(14:38) - Are all psychedelics man-made or are there any occurring in nature?

(16:03) - How far back do psychedelics go in human history?

(17:20) - How big is this industry from an economic standpoint?

Data on funding trends in psychedelics:  https://www.cbinsights.com/research/psychedelic-therapies-funding-startups/

(20:09) - How do we define what is legal and illegal in the psychedelic space?

(22:16) - Does FDA approval make it legal or does there need to be a law passed?

(22:54) - What needs to happen for the FDA to change their minds on psychedelics after all these years?

(24:16) - Would these drugs displace other opiate treatments?

(25:25) - The Hype Around Psychedelics in Society

(26:42) - What parts of the industry interest you the most?

(28:52) - Thoughts on Micro-Dosing

(30:14) - Advancements in ways to “stop” the trip

(31:31) - Brom’s Personal Experiences with Psychedelics

Compass Pathway studies

(33:48) - Integration Therapy

(34:59) - Do you do any pre-planning or set intentions for psychedelic experiences?

(37:29) - Empath’s intentionalities: Receptor Targets, Indications, and Time to Market

(41:04) - What does an early-stage psychedelic company look like?

(42:26) - What becomes the IP in these companies?

(44:07) - Compass Pathways 

Freedom Bioscience Partners

(45:43) - The Different Experiences from Different Psychedelics

(47:25) - Data on effects of psychedelics on minors

(49:12) - At what point is testing introduced on humans for new psychedelic molecules?

(51:07) - What’s going to happen in this space over the next decade?

Wavepaths music

(56:30) - Is there any merit in psychedelics as a preventative?

(1:00:07) - What’s happened to the brain of people who become depressed?

(1:02:01) - What do you predict to be the first mainstream psychedelics?

(1:03:25) - How is Oregon doing since decriminalizing drugs?

(1:04:01) - How can people track the progress of clinical trials and legislation?

(1:04:43) - Wrap Up & Contact

Brom on Twitter

Empath Ventures

The Integration Conversation podcast

The Fort is produced by Johnny Podcasts

On this episode, Chris sits down with a few members of the Fort Capital team to discuss all things Investor Relations (IR). They chat about the process Fort goes through to vet potential investors, onboarding, and eventually, what investors can expect throughout the investment process. They also discuss frequently asked questions, ongoing IR items post-investment, and how they utilize Juniper Square. Enjoy!

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 

Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQ

Follow The Fort on Instagram: www.Instagram.com/TheFortPodcast

(02:31) - Why Investor Relations Are So Critical

(03:41) - Ryan and Lorna’s Role Within Fort Capital

(05:05) - What’s the process of signing up an investor?

(07:11) - Why would a potential investor not meet our criteria?

(07:47) - What’s our process if someone is looking to bring multiple investors with them when coming to Fort Capital?

(09:07) - What changes have we made to improve our processes over the past year?

(10:35) - What are the characteristics of an investor we’d love to meet?

(12:59) - What information do we provide people upfront to get to know Fort Capital better?

(14:52) - What are the most frequently asked questions we get upfront from potential investors?

(16:44) - Consistency In Information Sharing

(19:29) - What’s the investor experience like with juniper Square?

(22:10) - What happens from our end when a deal comes in?

(29:43) - What does communication look like between us and investors after the capital raise?

(30:48) - Who puts our quarterly reports together?

(33:00) - How do we calculate waterfall distributions?

(34:02) - What happens if someone signs up and doesn’t end up investing?

(35:02) - What are three improvements we’ve made to the investor relations process?

(36:03) - What happens if we are oversubscribed on a deal?

(37:17) - Pre-Commitment Opportunities

(38:46) - Emphasis On Timely K1’s and Cost Seg's

(40:06) - How many people do we have signing up every month?

(41:48) - 1031 Opportunities

(43:43) - Delivering Bad News

(44:58) - Why do we change our deal structures?

(46:17) - How are we improving and maintaining cyber security?

(49:40) - The Balance of Maintaining Existing Investors and Having a Healthy Pipeline of New Investors

(51:07) - Wrap up

The Fort is produced by Johnny Podcasts

Scott Everett founded S2 Capital in 2012 to acquire multifamily Real Estate. In the past 10 years as CEO of S2 Capital he has built a Real Estate investment company that has acquired over $6B of multifamily assets totaling 40,000 units and 3 operating companies that generate annual revenues in excess of $350M with over 600 employees.

On this episode, Scott discusses how he got started in value add MF and grew to 38,000 units, how he underwrites deals, and what matters when underwriting a deal. They chat about how S2 is set up operationally and how his different teams all work together. Scott also shares why he's raising a fund after 10+ years of syndicating deal by deal. Enjoy!

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/

Follow Chris on Twitter: www.Twitter.com/FortWorthChris 

Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 

Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQ

Follow The Fort on Instagram: www.Instagram.com/TheFortPodcast

(02:07) - Scott’s RE career

(08:42) - Did something happen in your childhood that gave you your sense of confidence?

(10:48) - Scott’s first deal for 184 units

(15:33) - What are illegitimate reasons a property isn’t performing?

(18:11) - How do you think about approaching a deal?

(20:55) - How much has the RE landscape changed over the past decade?

(23:26) - Being laser focused on one asset

(26:38) - How do you think about due diligence?

(29:20) - Scott walks us through the entire deal process

(35:27) - Why do you renovate units so often?

(36:39) - What’s the first 90-180 days after closing look like?

(40:41) - How long does a full unit rehab take?

(41:22) - When do you talk to folks about renewals?

(43:18) - Do you want to get every unit updated within 2 years?

(48:09) - What separates you from competition in the construction part of the process?

(52:08) - What are you experiencing in the current labor market?

(55:33) - How do you think about staying on top with materials supply?

(57:20) - Are rents so competitive that class B tenants are moving up to Class A apartments?

(58:50) - What do you want your asset managers focused on?

(1:02:15) - What’s your ReFi strategy?

(1:02:48) - What’s the difference between Fanny & Freddy loans?

(1:03:44) - How fluid is the process of getting to your projected NOI number?

(1:05:20) - Where do most people miss the boat in terms of Capex?

(1:07:10) - How are you refreshing your portfolio today?

(1:11:14) - Is there any technology that has your attention right now?

Fetch

(1:14:25) - Why are you raising a fund?

(1:30:44) - Is there anything out there that scares you?

(1:33:59) - What’s your words of wisdom on building a great family business?

(1:37:53) - What is the S2 foundation?

The Fort is produced by Johnny Podcasts