POWERS

Kevin Dahlstrom, Founder of Swell, joins the podcast for the third time to chat about his career in Fintech and what he's looking to change about how people think about and use money. Chris and Kevin chat about launching Swell, democratizing capital for the 95% of America, and a fun conversation on remote work vs office work.

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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Follow Kevin on Twitter

(03:08) - Catching up with Kevin: Launching Swell

(07:57) - Do fintechs approach banks to partner with or do banks spin up these fintech companies?

(09:16) - What is Swell and why now?

(14:29) - The Core Tenants Of The Product

(22:18) - How do the traditional banks make money in non-obvious ways?

(24:22) - What does the climate for traditional banks look like in 10 years?

Ramp

Swell

(26:43) - How many people fall under your TAM?

(28:38) - How Affordable Credit Brings Countries Out of Poverty

(30:28) - Why does the average American have a poor credit score?

(31:46) - The Democratization of Capital

Fundrise

(38:37) - Building Community 

(40:58) - How do people get on the waitlist?

SwellMoney.com

(41:37) - Chris & Kevin’s Big Announcement

Hot Topics:

(45:19) - Remote work 

(59:44) - Globalization & Moving knowledge workers overseas

The Sovereign Individual by James Davidson

(1:03:31) - Final thoughts 

The Fort is produced by Johnny Podcasts

Steve Radom, Founder of Radom Capital, began his company in 2014 with the vision of creating a best-in-class urban infill redevelopment platform that passionately executes enduring designs and yields differentiated projects. Radom has developed 15 projects ranging from small, retail redevelopments to larger mixed-use projects. Each stabilized project has achieved and maintained 100% occupancy to best-in-class tenants.  

On this episode, Chris and Steve chat about the story of how Radom Capital came to be, how Steve selects a location and what matters. They also share stories of how Montrose Collective & MKT came to be and how ultimately, it's all in the details.

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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(01:50) - Steve’s Background and Career

Outliers by Malcolm Gladwell

Radom Capital

(10:19) - What would you say is your edge?

(14:00) - When do you go from really good to absolutely great?

(16:49) - How do you think about raising capital?

(21:33) - How do you think about hiring architects and landscape designers?

(23:40) - What separates a great architect?

(24:49) - Building The Montrose Collective

(32:44) - What’s your secret to working with City Councils?

(37:15) - Learnings From The Early Days Of The Pandemic

(43:36) - How are you describing the Houston market right now?

(46:59) - What do you think about Houston’s Zoning approach?

(48:25) - The MKT Project

(57:35) - What’s your tenant buy-in strategy?

The Fort is produced by Johnny Podcasts

Jeff Gleiberman, Managing Director at MG Properties Group is responsible for investment transactions, investment strategies and partner relations. Jeff was previously Director of Investments, responsible for corporate equity and debt strategies and was an Acquisition Manager sourcing and underwriting new investment opportunities. Jeff has also served in asset management, regional management and onsite property management roles. Prior to joining MGPG, Jeff worked in apartment investment sales at CBRE, the country’s largest apartment brokerage firm, where he oversaw the sale of over $500 million in Southern California multifamily properties.

On this episode, Jeff shares the story of how MG Properties began and his love for the business at an early age. He discusses nuances of the major markets they participate in, how they raise capital, why 1031's and cost segregation are crucial to their strategy, and how they underwrite and manage their pipeline.

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

Watch this episode on YouTube: https://youtu.be/aT6Q3nP0rxs

(02:49) - Jeff’s Career and MG Properties

(04:09) - Did your Dad do anything early on that got you interested in RE? 

(06:49) - What is your current day to day?

(07:12) - Why are you in the markets you’re in?

(08:55) - Why is CA a low-traded market?

(10:11) - Do property tax values stay locked in?

(10:40) - How early did you know about the Conrad portfolio being up for sale?

(12:16) - Do Los Angeles and San Diego have fundamentals that are different?

(13:22) - How do you underwrite political risk?

(15:08) - What are the pros to investing in Arizona vs. California?

(18:22) - Why don’t you play in development?

(19:54) - Defining Value-Add and Core-Plus Strategies

(21:31) - How many units are you adding per year?

(22:17) - MG’s Deal Processes

(27:08) - How do you raise capital?

(30:11) - The 1031 Exchange

(32:27) - What’s the cost seg portion of your business and why is it so important to your investors?

(33:40) - What does your playbook look like in the first 90-days post-close?

(34:54) - Does rent growth affect your thesis?

(35:59) - Why do you visit each property 2 times per year?

(39:17) - Are you seeing things loosen up in labor and supply chain?

(40:36) - Thoughts on Property Management

(41:36) - Is SFR on your radar?

(43:36) - The Vegas Market

(45:22) - How do you underwrite rent growth going forward?

(46:45) - Jeff’s experience at the NMH Conference (National Multi-Housing Conference)

(48:08) - More on Financing

(49:11) - What amenities matter right now? What doesn’t matter anymore?

(51:12) - Is there anything that countries outside of America do in regards of housing that we should adopt?

Connect with Jeff:

Jeff on LinkedIn

MG Properties

The Fort is produced by Johnny Podcasts

Richard Fertig, Founder of Stomp Capital, is an innovative Real Estate Developer focused primarily on the Short Term Rental market, creating branded experiences to delight raving fans with his signature “modern hospitality”. Richard shares his proven strategies that continue to bring him financial success with his 59,000+ YouTube followers and 45,000+ Facebook Group members subscribed to Short Term Rental University.

This episode is a Masterclass on how to win BIG in STRs and why it might be the best trade in Real Estate. Richard shares a lesson on vacancy risk & underpriced zoning, how he selects a location and builds pricing power and how he built his worldview on risk/reward at Blackstone. Plus a wild story about Bernie Madoff. Enjoy! 

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

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

(02:41) - Richard’s career and his journey into STR’s

(9:07) - Do you have a filter for what you’re going to look for when handed a pile of money and told to “go find value”?

(12:29) - Firing Bernie Madoff

(17:42) - What are some immediate red flags you key in on when raising capital?

(19:18) - Why STR’s? (Short Term Rentals)

AIRDNA

(25:10) - Where are these lenders and capital providers?

Host Financial

SomeHotelGuy on Twitter

(28:32) - Who fits into the customer category for the STR space?

(32:03) - What predictions do you have for this space in a decade?

(36:40) - Building Edgecamp Sporting Club in the Outer Banks

(51:39) - What zoning matters and how do you get comfortable?

(1:03:35) - What should the average STR owner be thinking about with ordinance?

(1:05:35) - Mispriced Zoning in The Hamptons

(1:09:15) - How are you managing your properties?

(1:12:48) - Are you hiring 3rd party consultants when you’re cultivating the experience?

(1:14:14) - How are people finding and booking your properties? How do you think about the risk from 3rd party booking agencies eating into your margins?

(1:18:03) - What matters to you in a market when thinking about experiences?

(1:22:54) - How are you structuring your deals?

(1:24:33) - Are you building your own tech?

(1:25:54) - How do you think about cash flow streams when your properties tend to be seasonal?

(1:29:10) - Final Thoughts

(1:31:57) - How can people find you?

Twitter - @ImRichardFertig

YouTube -STR University

Facebook - STR University

Stomp Capital

The Fort is produced by Johnny Podcasts

Conrad Gibbins is a Managing Director of Jefferies, LLC in the Energy Investment Banking Group. Conrad has 12 years of investment banking experience advising primarily upstream oil and gas companies on M&A and financing transactions. Conrad has advised on over $40 Bn in upstream oil and gas M&A transactions and $15 Bn in financings and he has worked on many significant transactions in the upstream oil and gas industry including more than 10 M&A transactions with values over $1 Bn. 

On this episode, Chris and Conrad discuss the world's reliance on fossil fuels, today and into the future and the current M&A and deal market in fossil fuels. They look into ESG and alternative energy opportunities. Conrad discusses how Russia / Ukraine is impacting the current environment and how the narrative around fossil fuels has changed since he started in 2009. Enjoy! 

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

(02:17) - How has the Oil industry changed over the past 12 years?

(8:18) - Why is capital fleeing the industry over the past several years?

(14:50) - How undercapitalized is the industry right now?

(19:27) - How much of the world is still in the process of getting onto fossil fuels and how much of the world is actually consuming 100 million barrels per day?

(22:36) - M&A Activity in Oil and Gas Over the Past Year

(26:52) - Is there positive momentum that capital is flowing back into the space?

(31:21) - Thoughts on ESG

(32:07) - Labor & Employment in Oilfield Services

(33:54) - Is the money that’s redirected away from Oil and Gas and into renewables been worth it?

(38:07) - Is there any bear case in the short term?

(40:06) - Is there any technology you’re seeing that could disrupt oil usage?

(42:18) - How is the Russia/Ukraine conflict impacting the world from an energy perspective?

(45:04) - How much does the world depend on Russia for oil?

(46:22) - Who’s the largest consumer of oil?

(46:48) - Thoughts on Nuclear

(50:39) - Are there any basins coming back online that have been hibernating?

(57:20) - Crypto in the Energy World

(59:33) - Conrad’s experience working with Aubrey McClendon

(1:01:59) - Final Thoughts

The Fort is produced by Johnny Podcasts

On this milestone episode, Chris shares the story of how the podcast started and why it's been so impactful. Chris dives into why podcasting is a pure form of communication and why he supports Joe Rogan. He expresses his thoughts on de-platforming and canceling culture and Chris breaks down 50 things he's observed from 17 years in business.

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/

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

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

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

Watch this episode on YouTube: https://youtu.be/QzI1b1SD3Uo

(01:30) - Welcome to Episode #200!

(03:43) - How Chris and Producer Johnny Met

(08:46) - The Early Days of the Podcast & Benefits From Doing the Show

(13:01) - What Matters in Podcasting

(15:50) - Sponsorship Opportunities

Email for inquiries at [email protected]

(16:41) - 50 Thoughts on Business

Traction by Gino Wickman

(49:52) - Thoughts on Cancel Culture

The Fort is produced by Johnny Podcasts

Nick Huber, Co-Founder of Bolt Storage, is back on The FORT Podcast to discuss what Nick's learned after going from 0-34 self-storage properties, thoughts around cancel culture, why it exists, and how we might overcome it. On this episode, they also chat about how remote work is changing the workforce, Self Storage market updates, and why blue-collar labor (sweaty startups) offer some of the biggest opportunities in America. 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/

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

Watch this episode on YouTube: https://youtu.be/ltkWLjbZLic

Links:

Nick on Twitter

Nick’s first appearance on The Fort: Episode #73 on Spotify & Apple Podcasts

Businesses that Nick loves!

Topics:

(03:03) - Nick’s Transformation Over the Past Few Years

(11:10) - Tailwinds in Self-storage

(15:12) - Storage Scenario: What’s your 30-day game plan after you buy a facility?

(18:11) - Nick’s Weekly Check-Ins

(19:06) - How do you source on-site vendors?

(19:56) - Nick’s Tenant Base & Thoughts on RV & Outdoor Storage

(22:28) - Have you had any major revelations during the last three years?

(30:47) - Creating Competitors

(41:05) - Is “community” the right way forward?

(43:39) - Nick’s Experience Wiith Cancel Culture & the Twitter Mob

(58:31) - The Ultimate Net Positive of Twitter

(1:02:11) - Re-thinking Blue-collar Work

The Fort is produced by Johnny Podcasts

Eric Weatherholtz, co-founder of Healey Weatherholtz Properties has worn many hats in his career from leasing agent, property manager, construction manager, financial analyst, framing laborer, electrician's apprentice, and investment manager. Healey Weatherholtz Properties owns and operates a real estate portfolio that includes retail, office, warehouse, residential, parking, and self-storage assets. They invest in private real estate occupiers including a variety of retailers and restaurateurs. As an investment sponsor, HWP has been involved in over 50 projects, all focused on "repairing" properties to better meet the needs of the surrounding community.

On this episode, Chris and Eric discuss how to capitalize long-term deals and bring in the first tenants, why every little detail matters, and creating the "halo" effect. Consider this a masterclass in creating a world-class destination everyone wants to hang out at and several funny stories from a career in real estate!

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/

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

Watch this episode on YouTube: https://youtu.be/K6BY4pbdUuc

(03:20) - How Eric Got into Real Estate and What He Does Within The Space

(06:39) - How do you know you’ve found the right spot to start acquiring? What matters?

(10:32) - When doing assemblages, do you care about competition coming in?

(16:21) - Do you need the commercial first before it can attract residential or vice versa?

(18:09) - How do you finance these projects?

(25:02) - Are there times when you decide to pass on properties?

(30:16) - How do you create the “magic” after buying the building?

(40:24) - How are you structuring your leases?

(42:30) - Sticking To Your Guns

(45:45) - How do you manage these properties?

(51:43) - Who stages and programs the hospitality portion of your properties?

(54:45) - How do you justify the upfront TI for local tenants? Are you able to identify local businesses w/o a track record who’ll be successful?

(58:08) - What do you say to people who think retail is dead?

(1:02:24) - What’s your edge? 

(1:04:39) - Is this a scalable business model?

(1:06:54) - Wild Stories From Eric’s Career

The Fort is produced by Johnny Podcasts

John Marsh is the Co-Founder of Marsh Collective and host of the Redemptification Podcast, serial entrepreneur, and consultant helping steward over $1b in redemptive real estate in 9 small towns around America. After spending the last 25 years giving guidance to over 60 startup businesses in various industries, John's current focus is helping others make generational differences in their communities and companies by helping patrons bridge the gap between redeeming vision and execution.

On this episode, Chris and John discuss, how Marsh Collective rebuilt the entire city of Opelika, Alabama, buying old historic downtowns as an asset class and how to develop leadership and create flourishing businesses. John also discusses how he completely changed the trajectory of his life and marriage.

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/

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

Watch this episode on YouTube: https://youtu.be/xxZ7sbnK5iA

Marsh Collective

Redemptification Podcast

(03:07) - Why do you see brokenness everywhere?

(06:09) - What hanged in your life after contemplating suicide?

(09:22) - Forgiveness is Suffering

(12:01) - What kind of work do you do with the hard-charging entrepreneur in the perspective of their marriage?

(15:58) - John’s Real Estate Career in Opelika, Alabama

(28:15) - Building Businesses by Pivoting Into Commercial

(36:02) - How do you know you’ve found the right leader?

(42:29) -  What drives an extraordinary experience?

(48:36) - What would make a fantastic multi-family project?

(54:37) - Do these tenants pay more and stay longer when you follow this model?

(57:04) - Are you bullish on the migration to small towns?

(1:00:19) - Small, Historic Towns as an Asset Class

(1:04:42) - What needs to be in place from the investors for you to work together successfully?

(1:10:55) - What does a contract structure look like when renovating an entire town?

(1:14:22) - Wrap Up and Final Thoughts

The Fort is produced by Johnny Peterson

Marc Gilbert, Managing Partner of Twin Oaks Group, owns and manages a diverse portfolio of property across Northern New Jersey, including multifamily, commercial, and industrial properties. Marc directed financing at New City Management, covered REITs and financials at ING and Commercial Mortgage-Backed Securities at Fitch Ratings. Marc specializes in financing and structuring real estate syndicates.

On this episode, Marc tells his story of joining the Israeli army and how those lessons shaped how he looks at life. They discuss why Marc buys properties with major environmental issues and the value he creates. Chris and Marc also chat about lessons learned from the 2008-2009 GFC and how Marc creates win/win situations. 

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/

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

Twin Oaks Group

Marc on Twitter

Marc on LinkedIn

(02:30) - Marc’s Travels to Israel and How it Shaped His View of the World

(06:41) - Marc’s Journey Into RE

(09:05) - Bringing a Depression Era Mindset to Real Estate

(11:46) - Marc’s Career Prior to Starting Twin Oaks

(20:44) - Do you think the bank system learned anything from the ’08 crisis?

(25:07) - Operating in the Northeastern New Jersey Market

(28:59) - Why do you take one these gas station deals that 99% of people pass on?

(36:24) - What’s the process of cleaning these sites that requires a 5-10 year timeframe?

(40:13) - Do you raise capital to clean these sites or use your own capital?

(44:47) - Is there any government or tax incentive to de-contaminate these properties?

(46:25) - What are you looking for in multi deals and how do you find deeper value in them?

(50:19) - Thoughts on Rent Control

(52:31) - As a long-term holder, should a building be 100% leased?

(56:13) - Providing Housing For Ex-Felons

(1:01:31) - How do you deal so well with your local government?

(1:09:43) - Why could it be smart to overpay for a 1031 exchange?

The Fort is produced by Johnny Peterson