POWERS

Chris had a chance to talk with Stacey Relton, Managing Partner at Strait Capital, whose efforts have elevated the firm to a global brand. Stacey has increased the Strait Capital's revenue by 500% and spearheaded major firm initiatives to position the firm’s infrastructure for accelerated growth and scalability.

On this episode, Stacey and Chris discuss the world of private equity and hedge funds, the importance of building a culture in your organization, and how Stacey went above and beyond for her team during the pandemic. Enjoy! 

Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com

(01:35) - Stacey’s Career Prior to Working at Strait Capital

(03:36) - How did you get this reputation of being able to ‘make shit happen'?

(05:32) - What started your growth trajectory of almost 500% in 4 years?

(08:18) - Did you have people making intros for you in New York or was it straight cold calling?

(11:22) - How’d you kill your first elephant?

(12:45) - What is Strait Capital? What does a fund administrator do?

(14:38) - If someone starts a hedge fund with an endowment, does the endowment state that Strait Capital has to be involved?

(15:05) - Do you hire the fund administration attorney?

(15:35) - Is it usually the hedge fund manager that hires you or the investor?

(17:20) - When do hedge funds begin to involve you?

(18:23) - Do most people starting a new fund using placement agents to raise money or is that done internally?

(20:11) - What is considered a large client?

(21:18)  - Why is Strait Capital better than its competitors? 

(23:33) - Building a Culture

(26:12) - At what size does compliance change or are there multiple tiers where things change?

(28:48) - How would you know if someone was doing insider-trading?

(29:49) - What happens when your fund hits $150 Million?

(31:19) - If I raise a fund and suddenly its worth $150m in two years, am I now in that SEC category?

(31:51) - Who values private stuff?

(33:03) - Is there another tier beyond $150 million?

(34:59) - Could a Blackstone ($20B fund) have hundreds of SPV’s that are folding into the big fund?

(35:35) - Would someone like Blackstone outsource their administration?

(36:02) - What are some things that separate great managers from the run of the mill folks?

(39:16) - Have you ever caught anything such as fraud through email monitoring? What happens if you catch it?

(40:58) - Is it always intentional when people are running Ponzi schemes?

(41:26) - How do you think Bernie Madoff was able to get away with what he did?

(43:18) - Are you starting to see a lot of distressed funds being raised?

(45:43) - How long does it take to raise a fund?

(47:58) - What is a hybrid fund?

(49:41) - Do you ever work with public companies? Will you ever touch a SPAC? [Special Purpose Acquisition Company]

(52:49) - Does one raise a fund every 2-3 years?

(53:30 - When did you shift from rainmaker to building processes and systems? What has it been like as the captain of your ship for the last 6 months?

(1:03:36) - Do you have a morning routine?

(1:05:04) - What would you tell people graduating right now in this environment?

(1:08:38) - What’s the best advice you’ve ever received?

(1:10:13) - What’s the best book you’ve ever read?
Lean In by Sheryl Sandberg
Patrick Lencioni Books

(1:14:31) - How can people reach you & Strait Capital?
Stacey's LinkedIn

The FORT with Chris Powers is produced by Straight Up Podcasts

On today's episode, Chris breaks down why Fort Capital has spent so much time and energy in the Class B Industrial space over the past 4+ years. He lists the four most important reasons for pursuing Class B Industrial as well as why he believes this asset class has a promising future. Enjoy! 

Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com

(01:09) - Episode Agenda

(01:40) - The “ah-ha” Moment in 2016 and 4 Big Ideas

(02:07) - Idea 1: Do we think online sales will increase or decrease?

(02:49) - Idea 2: Class B Industrial is Infill in Nature

(03:29) - Idea 3: How Travis Kalanick, Founder of Uber, Goes on to Found Cloud Kitchens Using Industrial Space

(05:16) - Idea 4: The Depleting Supply Class and Growing Tenant Base

(10:21) - Why Class B Industrial is Sticky

(12:02) - The Cannabis Opportunity for Class B Industrial

(13:00) - The Historical Ownership of Class B Industrial & Flying Under the Institutional Radar

(14:25) - Class B Industrial Has a Predictable CapEx

(16:16) - Management in Class B Industrial

(17:16) - The Value Add and Their Un-Sexiness

(18:13) - The Wrap Up

(19:36) - Call Out to Owners & Brokers Looking to Chat/Sell Industrial

Fort Capital's Deal Incentive Program
The FORT with Chris Powers is produced by Straight Up Podcasts

Today's episode features Nick Huber, the founder of The Sweaty Startup - a podcast packed with the principles, strategies, and methods used to grow successful companies and Storage Squad which provides student storage, self storage, and moving services.

Today, Nick and Chris discuss the importance of the 'un-sexy' jobs that keep the country running, Nick's additional startup Storage Squad that he founded during college, his unique capital structure when doing deals, how Nick incorporates technology into his business, the benefits they both have gotten from Twitter & more. Enjoy! 

Follow Chris on Twitter! www.Twitter.com/FortWorthChris
Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com

(02:23) - Nick’s Journey

(03:09) - How did you come up with the idea for Storage Squad?

(06:11) - Is Storage Squad still running today?

(06:34) - Where do you see that business going?

(07:21) - How did you meet Dan? How did he become your business partner?

(08:06) - What was it like being a decathlete and training for the Olympics?

(09:31) - How do you describe your podcast The Sweaty Startup?

(12:22) - What are you thinking about in terms of ‘Sweaty’ businesses that can do really well in this unique COVID environment?

(14:30) - What’s it going to take to get this next generation of people excited about blue collar work?

(16:05) - Nick’s Twitter Rebuttals to the VC/Tech World

(16:58) - When did you buy your first self-storage deal?

(19:03) -  Why did you choose to develop a deal in this market?

(19:45) - What factors play into analyzing a market you are interested in?

(21:13) - When do you go boots on the ground while finding deals?

(22:04) - Why are you hyper-focused on tertiary markets instead of core markets?

(23:13) - What’s the difference between a Class A storage unit and what you are buying?

(23:52) - What makes you bullish about self-storage?

(26:00) - Nick Explains His ‘Weird’ Capital Structure

(29:33) - When you’re buying a deal, are you calling local banks in that market or do you have a go-to bank that will travel with you?

(30:11) - Are you planning to turn this into a franchise?

(31:05) - Nick’s Family Values and Living Frugally

(34:49) - One of the Most Interesting Deals Nick has Done

(38:47) - What do you actually have to do to evict someone from a storage unit?

(39:53) - Do you see the selling of left over stuff as a profit center or a pain in the ass?

(40:46) - The Gloversville Deal

(44:53) - The Technology Nick Uses to Remotely Manage Properties

(47:44) - What’s the average length of a lease in your portfolio?

(48:16) - What does an average unit lease for?

(49:19) - What’s the craziest thing you've seen left behind and the most expensive thing left behind in a unit?

(50:08) - Nick’s Crazy 10-Year Prediction for the Future

(52:37) - How do you incorporate digital marketing into your business?

(54:42) - How do you think about risk?

(57:21) - Where do you want your business to be in 10 years?

(58:46) - Do you have a morning routine?

(1:01:35) - The Pros and Cons of Twitter and Media

(1:05:53) - What’s the best advice you have ever received?

(1:07:27) - How can people contact you?

Contact Nick: @sweatystartup
Books Mentioned: The Ruthless Elimination of Hurry 

The FORT with Chris Powers is produced by Straight Up Podcasts

Charlie Royer is the 4th generation to take up leadership at Royer Commercial Interiors (RCI), an office interiors supplier for the DFW metroplex. On this episode, Charlie and Chris discuss what it's like being in a company that has lasted 4 generations, what businesses of all sizes should be thinking about when working with their interiors supplier, and how RCI, and offices across the US, are adapting to the current business environment. Enjoy! 

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

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

(02:13) - Charlie’s Story Before Working in the Family Business

(03:52) - What is it like being part of a 4th generation business?

(05:41) - Is there something your family did differently to get to the 4th generation of ownership?

(06:57) - How big is the office interior furniture market nationwide vs. in DFW?

(08:00) - How often do you go to Haworth (furniture manufacturer) and what is that experience like?

(08:53) - What do you consider a large project to look like? Is there a difference between working on a $1M deal vs. a $20M?

(09:57) - How far in advance of a big job do you need to start working on it?

(10:28) - What should small or medium sized business owners think about to avoid a stressful process?

(12:49) - What are you and your clients saying about the world today vs. 1 year ago?

(16:33) - Is there anything that companies are doing now that others should think about?

(19:00) - Are you seeing potential for a WFH line of furniture?

(20:34) - Which idea wins going forward? - A heavily remote team or a more spaced out office environment?

(22:32) - Are you expecting more offices to abandon the open floor concept?

(23:44) - Are there any COVID-era lines of furniture coming out?

(26:12) - Do you get to see the company surveys showing what employees are asking for furniture wise?

(27:42) - Is anything happening in government/health/education office trends that are different from traditional offices?

(28:30) - Do you only sell new furniture or do you offer repurposed items?

(31:13) - What has been the biggest change in office since the 1950’s?

(33:35) - Is there a ‘godfather’ in the industry that everyone looks toward?

(35:02) - What is the ‘all’ that you do for your clients?

(37:37) - What are the coolest office features that you’ve seen that people love?

(39:35) - Charlie’s Experience Working on Fort Worth’s Dickie’s Arena

(43:55) - What does RCI look like 10 years from now?

(47:03) - How does the scope of work change when you work with a 5,000+ person companies?

(49:44) - How long would an installation for a company that big take?

(51:18) - What do you tell companies to expect the day after installation?

(52:41) - Why does the "furniture guy" always catch the flack?

(53:04) - How did you learn business development?

(55:48) - What crazy prediction would you make about the industry 10 years from today?

(57:10) - What’s the best advice you have ever received?

(57:16) - What’s the best book you’ve ever read?

(57:52) - What’s the best way for people to reach you?

Charlie's Favorite Books:
Strong Fathers, Strong Daughters
Traction
Contact Charlie: [email protected]

The FORT with Chris Powers is produced by Straight Up Podcasts

Linda Day Harrison is the founder of theBrokerList.com, an interactive, collaborative community of CRE brokers and other professionals. Today they discuss Linda's experience in Real Estate as technology was becoming a major part of the industry, how she was able to build a tech company without any technical experience, the importance of building relationships both in-person and online, and how theBrokerList has impacted deals in the industry. Enjoy!

Follow Chris on Twitter www.Twitter.com/FortWorthChris
Learn more about Chris Powers & Fort Capital www.FortCapitalLP.com

Check out theBrokerList www.theBrokerList.com
Contact Linda: [email protected]
Linda's Favorite Book: Feel The Fear...And Do It Anyways

(01:56) — Linda’s Start in Real Estate

(04:17) — How did you market your properties to brokers before the technology we have now?

(10:45) — How did the idea for theBrokerList come about?

(16:06) — How did you get started building the tech side of theBrokerList?

(19:13) — How many brokers are on the list today? How do you continue to grow it?

(20:23) — How has theBrokerList grown beyond just being a list?

(22:17) — Linda's Deals & Experiences as a Result of theBrokerList

(25:27) — Looking back, what would you have done differently?

(28:08) — The Importance of Both Technology-Based Relationships and In-Person Relationships

(32:41) — What info has stood out from your community marketing discussions throughout COVID?

(34:38) — What are your thoughts on office use in the next year or so?

(38:45) — How do you keep theBrokerList's tech up to speed without a full-time tech team?

(41:28) — What is your ultimate goal for theBrokerList?

(43:06) — Do you think about how your business is valued?

(45:53) — What’s the best advice you’ve ever been given?

(47:47) — What’s the best book you’ve ever read?

(49:04) — How can people reach you and find theBrokerList?

The FORT with Chris Powers is produced by Straight Up Podcasts

On today's episode, Chris interviews Megan Hodges, founder of The Dowry - an ethically-minded wedding gift registry and curated artisan marketplace. They discuss Megan's journey as a business owner, the transition of skills from a corporate career to a start up company, the mission behind The Dowry, and Megan's experience in digital marketing. Enjoy!

Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Visit The Dowry: www.TheDowry.co
Contact Megan: [email protected]
Megan's Favorite Book: Soft Selling in a Hard World

(01:47) — Megan’s Career Before Founding The Dowry

(07:22) — What was the inefficiency you addressed at your previous job? Do you think there are many employees who notice inefficiencies at big companies but never say anything?

(09:56) — Why have you gravitated toward marketing and sales?

(12:52) — Was there a moment when the lightbulb went off to start The Dowry?

(18:36) — The Dowry and Its Mission

(23:52) — When did you officially launch The Dowry?

(28:52) — Are people spending more on gifts since they are not spending money on weddings (due to COVID)?

(30:20) — What was the process of building out The Dowry website?

(33:56) — How has the process of finding artisans evolved?

(38:34) — Do you remember the first artisan who finally said "yes"?

(40:00) — How do you find artisans?

(43:19) — What does your criteria for finding artisans look like?

(45:51) — Do most artisans sell their goods on other platforms as well?

(47:46) — Are the majority of people buying gifts actually invited to the wedding?

(51:36) — How did you pivot to raise capital in March when COVID hit?

(56:32) —  When do you think weddings will start to take place again? What do you see a year from today?

(1:00:07) — Who taught you digitally market?

(1:05:30) — What is a naming convention?

(1:07:39) — What is the best way to reach your customer?

(1:10:43) — What does digital marketing look like for your company specifically?

(1:13:35) — How do you feel about Amazon?

(1:16:30) — How big is your target market?

(1:18:29) — What advice would you give to a potential entrepreneur?

(1:20:20) — Do you have a morning routine?

(1:20:51) — What is the best advice you have ever received?

(1:21:50) — What is the best book you have ever read?

(1:23:14) — How can people contact you?

The FORT with Chris Powers is produced by Straight Up Podcasts

Chris interviews Goran Krndija and learns of his incredible story growing up as a refugee in the United States and ultimately founding his tech company, Gozova, here in Fort Worth. They discuss the process of raising capital, the experience of a bootstrapped start up, entering new markets, and advice for founders. Enjoy!

Learn more about Chris Powers & Fort Capital at www.FortCapitalLp.com

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

Learn more about Gozova: https://gozova.co/

(01:15) — How Goran's Family Survived the Bosnian War in the 90’s

(06:30) — What was it like living in a fish warehouse for a year?

(08:15)  — What was your initial experience like in America?

(09:25) — What does America mean to you?

(09:50) —  Where were you doing in life at the age of 18?

(11:00) — How did you come up with Gozova and what is it?

(13:10) — What was the process of developing an app like?

(14:42) — What was the business like before the app was fully developed?

(15:12) — How did the first year go after everything was functional?

(17:20) — Were you prepared for your first rush of growth?

(18:19) — What’s something you've learned about the moving industry that you didn’t know before?

(19:07) — How were you hiring drivers back in the day vs. now?

(20:19) — What does your fleet look like today?

(21:18) — How do you think of your business in terms of tech vs. service?

(21:48) — Are Gozova's 150 drivers doing this full time?

(22:36) — What was your first round of fundraising like?

(26:24) — How did you feel after completing your fundraising?

(27:07) — What did you do with the $500k you raised?

(29:43) — Why do you now want to raise $2M?

(31:05) — Why are commercial partnerships important and what do those relationships look like?

(33:17) — When was the last time you made a delivery?

(33:49) — How does Gozova get into a new market and become profitable so quickly?

(34:41) — Insurance for this Industry

(35:30) — How has COVID affected the business?

(36:35) — How many customers have you served to date?

(37:26) — Where do you see yourself in 5 years?

(37:55) — Why are you getting involved with real estate owners and property managers as a means of business growth?

(40:06) — Do you have a morning routine?

(40:30) — Goran’s Family

(41:19) — How important is it to find a wife that’s supportive?

(42:16) — What’s the best advice you’ve ever received?

(42:49) — What advice would you give your 21-year-old self?

(44:00) — What’s your favorite book?

(44:26) — What’s the best way for people to reach you or contact Gozova?

The FORT with Chris Powers is produced by Straight Up Podcasts

Pershing Capital is a real estate investment, development and advisory firm with a focus on single tenant and multi-tenant retail assets with E-commerce and recession resistant tenant bases. Today, you'll listen as Chris interviews Edward about his deep dive into the retail sector of real estate. Edward will describe what retail has looked like over the last decade, how retailers have had to adjust during the pandemic and what opportunities lie ahead for the industry. Enjoy! 

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

Learn more about Chris Powers & Fort Capital: www.FortCapitallp.com

01:45 — Edward’s Background and Career with Trademark Property Company & Pershing Capital

11:56 — When did you start getting ‘scared’ that e-commerce was becoming a thing?

13:39 — How do you create the mouse-trap of finding retailers to lease spaces?

15:16 — What is the timeline of pulling together a huge retail development? 

15:57 — Why did you start Pershing Capital?

17:09 — What was your first deal at Pershing?

17:56 — What does the advisory side of the business look like?

18:45 — Do you outsource development?

19:30 — Why are certain aspects of development getting harder?

23:03 — What is going on in retail since COVID hit?

25:34 — How have tenants responded to the pandemic?

27:03 — Edward's Thoughts on the Mall Business

31:09 — Why should e-commerce companies like Amazon also become brick & mortar businesses?

33:54 — Who is putting the majority of the investment into these properties for retail projects?

36:52 — What is a 'co-tenancy clause' and how do you feel about it?

41:07 — Have we discovered what our ‘sweet spot’ cost is for retail space per square foot?

41:47 — What is the zoning like to re-position these developments for a totally different use?

44:33 — Is there a time horizon that shows decreasing prices for retail spaces?

46:15 — Can a retail project be financed right now?

48:59 — If a real estate opportunity presented itself, how would you go about financing it?

51:47 — How can businesses occupy these retail spaces again?

52:55 — What opportunities within retail are you excited about going forward?

53:57 — What is the best advice you have ever received?

55:46 — What advice would you give to your 21 year-old self?

The FORT is produced by Straight Up Podcasts

Chris tackles the complex topic of Insurance as he interviews Michael Moore, an 8th generation Texan and President of Lockton's Fort Worth office. Michael shares a fascinating story about his family's influence in Texas, a break down of the insurance industry in the midst of COVID-19, and Michael's new podcast: The Climb. Enjoy!

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

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

Listen to Michael's Podcast Here

02:00 — Michael’s Family History and Journey to Lockton

15:28 — How did your family get into organic farming and what was it like working with Whole Food’s before they became popular?

17:38 — What is the difference between the Waldorf educational system and a traditional American education?

21:27 — What is the difference between email marketing back in 2001 versus 2020?

22:51 — The Loaded Question: How does the insurance industry work?

24:57 — Why is the American employer encouraged to provide employee benefits vs. an employee signing up on their own as they would with car insurance?

28:10 — How much does the average employee’s age affect the overall insurance rates for the company?

30:01 — Why aren't property and casualty rates going down?

31:02 — What’s a “Hard Market”?

34:12 — How does a "Hard Market" end?

35:40 — Is there anything happening in the industry that can change the direction of these prices such as technology?

40:10 — Is there a 'black swan' within the insurance industry that a court can demand coverage for?

43:14 — Has the pandemic coverage become more solidified in pricing models?

44:05 — Have insurance rates increased because people are more likely to sue someone at the drop of a hat?

48:23 — What does an underwriter's shop look like?

52:50 — Is there one company crunching all the numbers and putting out the risk to carriers & underwriters or is this data collected individually?

53:34 — Grandfathering in Policy Pricing

57:03 — How did you go about building the Lockton brand in Fort Worth?

1:01:57 — How did Lockton react to the initial outbreak?

1:04:15 — Did you receive more early warning signs of COVID than most since Lockton is an international company?

1:04:42 — From a company leader's perspective, what does the rest of the year look like for Lockton?

1:06:40 — Is there something that Texas is doing that gives you hope vs. the challenges others are facing in markets that are hit harder like LA, NYC, etc.?

1:08:52 — What has hosting a podcast been like and what can listeners expect from the show?

The FORT is produced by Straight Up Podcasts

CRETech is the the largest international community of professionals devoted to technological innovation in the real estate sector. On this episode, Chris and Michael discuss the chaos in the event-industry as they navigate COVID-19, launching a consulting business mid-pandemic, the trend of venture arms popping up in the world's largest companies, and the future of Real Estate Technology. Enjoy! 

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

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

Subscribe to Michael's Blog: https://www.cretech.com/michael-beckerman/

01:50 — How Michael got into Real Estate Technology and the Current State of the Industry

04:55 — How did you start building this online community back in 2012?

06:50 — Can you describe what the entrepreneur’s mindset looks like over the last few months?

12:10 — What are the upfront costs that you risk when putting on a RET conference?

15:13 — How would the current social environment have to change in order for you to feel comfortable hosting an event again?

22:06 — How did you come up with the idea to launch a consulting business helping connect people in the Real Estate Tech world during COVID?

27:38 — What are your thoughts on major companies creating in-house venture arms to invest in emerging technologies rather than building it themselves?

30:51 — Fort Capital’s Adoption of Technology and its Role in Creating an Innovative Culture

39:50 — What new tech ideas are you seeing come out of the pandemic?

42:53 — The Future of the Real Estate Technology Industry

45:37 — Has COVID caused a radical change in how people think about higher education?

The FORT with Chris Powers is produced by Straight Up Podcasts