POWERS

Chris sits down with business partner and Fort Capital COO, Jason Baxter, to discuss the concept of Cost Reduction, Overhead Management & Revenue Generation (COR) and how it has given their team a voice and the ability to think like company owners. They'll discuss how they were able to successfully implement COR within the culture of the business and avoiding the 'revenue creep'. Enjoy! 

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

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

01:08 — COR: The Meaning, Defining Success and How We Implemented it at Fort Capital

05:24 — Fort Capital’s 2019 COR Challenge and What it Revealed

07:36 — How COR Became Part of Fort Capital’s Culture

09:26 — The Problem With Focusing Too Much on Revenue and 'The Creep'

13:06 — Company Goals During COVID-19

15:18 — Rewarding the Team for Achieving Wins and How We Keep COR at the Top of Everyone's Minds

18:08 — A Deep Dive into the Overhead Management Piece of COR

21:44 — How Fort Capital Identifies Imbalances in Processes, OKR’s, and Setting Overhead Management Goals

24:28 — The Importance of the Team Having a Voice as a Company Grows

27:52 — Setting Budgets and Fort Capital's Re-Forecasting Tools

32:44 — Being Patient When Implementing a Process like COR

The FORT is produced by Straight Up Podcasts

Andrew Segal joins Chris for his second appearance on The FORT. This time Andrew speaks on his experience contracting COVID-19, his thoughts on the future of retailers & restaurants as we continue to navigate this crisis, and much, much more. Enjoy! 

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

Visit Fort Capital: www.Fortcapitallp.com

01:46 — Andrew’s Experience Contracting COVID-19

03:03 — The Last 90 Days From Andrew’s Point of View

06:41 — Where are you getting your information as it relates to what's true and what’s not true?

08:03 — If even half of retailers and restaurants go out of business, how do we bring these asset classes back to life?

09:01 — Why do companies need to bring employees back into the office?

10:31 — What are the biggest factors contributing to the decline in productivity through the work-from-home model?

10:57 — How is co-working going to work when you have several different companies under one roof?

11:51 — What do you see happening with the struggling, yet massively funded co-working industry?

13:48 — What happens if WeWork goes out of business?

17:00 — Do some of these office buildings start to offer a live and sleep hybrid model?

17:53 — Is Class-A office headed towards a rough patch?

20:21 — What do you see for the future of super-dense cities like NYC and LA?

24:23 — How are your hotels doing?

25:00 — What do you look for before you start buying more hotels?

26:51 — Is it easy to become a buyer of debt as a buyer of real estate as we start to see these delinquent loans come in?

29:19 — Have you bought any deals yet or when will you go on your buying spree?

31:15 — Is it complicated to buy a CMBS note?

33:13  — What's the typical transaction process when buying off of an auction website?

34:10 — What are you going to do with the golf course you purchased?

34:52 — How does your technology improve efficiency?

36:02 — What do the first 30 days after purchasing a building look like in order to get it up and running?

37:32 — Will Airbnb become even more successful in the long term?

38:32 — What is your opinion on the higher-education and sports worlds right now?

41:27 — Is there anything interesting coming out of COVID-19 that you're seeing across different industries?

43:08 — What are you expecting to see in capital markets going forward?

45:39 — Are banks better capitalized than they were during past crises?

46:14 — Will states take a dive once stimuli & PPP run out or will the federal government keep providing money?

47:34 — Will states start using property taxes in order to keep themselves funded?

48:04 — Is there a relationship between the growth in tech and the lack of inflation?

49:08 — What is bad and good about inflation?

51:39 — Why isn't there a Fannie Mae or Freddie Mac loan for commercial properties?

52:41 — Do you see any path to truly building affordable housing at scale?

53:55 — Is Houston positioned well coming out of this? Does anything excite or scare you?

54:47 — Do you think we are past the worst of COVID-19?

The FORT with Chris Powers is produced by Straight Up Podcasts

Sarah LanCarte is the founder of LanCarte Commercial, a commercial real estate company specializing in tenant representation, leasing, and sales and acquisitions for properties in DFW. On this episode, Chris and Sarah talk about the early days of her career, her mentors, working with Fort Capital and ultimately what led her to founding LanCarte Commercial. They also talk about the current state of commercial real estate in DFW in the wake of COVID-19 and trends she predicts going forward. Enjoy! 

For more information on Chris Powers and Fort Capital, visit www.FortCapital.com

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

01:49 — Sarah’s Background and Starting LanCarte Commercial

08:18 — Did cold calling come naturally to you or was it uncomfortable at first?

09:56 — Was there a point in time where you thought “Okay, I’ve arrived in this industry.”?

12:08 — The First Deal Sarah Closed

12:43 — When did you start to become self sufficient at finding and doing deals?

14:53 — How Chris started working with Sarah and how she transitioned from the broker world into principal

18:15 — What was the journey like in starting your own business?

21:08 — How do you split your time between running the business and being a broker?

23:20 — What do you say to young brokers to prepare them for both the exciting and frustrating part of CRE?

24:54 — What is the difference between a great broker and a bad one?

28:21 — How is LanCarte Commercial's team different than other companies in the industry? 

29:50 — What was your experience as a small business owner during the very early days of COVID-19?

33:30 —  What are you observing in the Fort Worth market as we come out of COVID-19?

37:33 — Do you know of any big office tenants that might be moving into Fort Worth for the first time?

38:50 — Do you have any predictions on how places like Shopping Malls and Big Box Retail could be converted?

40:48 — What are your thoughts on Multi-Story Industrial Innovation in DFW?

42:53 — Is the demand there for all the Spec being built around DFW?

44:38 — How far in advance are tenants looking to lease in the Class B Space?

47:02 — Have you seen an upgrade with places like Amazon in their infill as they move to delivery methods like Sprinter vans?

48:08 — What are your 5-year goals for LanCarte Commercial?

48:52 — Why is CREW important and why should more females in the industry be a part of it?

50:07 — How can people get in touch with you?

The FORT with Chris Powers is brought to you by Straight Up Podcasts

On this episode, Chris chats with his lifelong friend Mackenzie Todd, Founder and CEO of Urban Golf Performance. This 5-star golf performance club uses a holistic approach to help golfers reach their goals as efficiently as possible. They'll discuss Mackenzie's golf career and how it led to the the incredible growth of UGP as well as the transition from a player himself to teaching some of the world's top golfers. Enjoy! 

Follow Chris on Twitter

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

Learn more about Urban Golf Performance

Listen to Mackenzie's podcast: The Urban Golf Podcast

02:00 — Mackenzie's Backstory Leading to UGP

06:06 — Mackenzie’s First Major Investor

07:11 — What would I experience after walking into a UGP location?

07:49 — How has fitness progressed as a major staple in the game of golf?

10:05 — What is the fitness process like at UGP?

12:24 — What does a top golfer like Collin Morikawa try to get out of his fitness routines?

14:16 — How does a player transition into a teacher/coach?

17:31 — Bringing on The Founder of TOMS as a Partner

21:43 — Is there one piece of information since having him as a mentor that you latched onto?

23:12 — What's your emotional journey as an entrepreneur been like over the last 90 days in LA?

27:09 — Are you optimistic for the remainder of the year?

28:50 — What’s the vision for UGP over the next decade?

29:52 — What prevents great amateur players from going pro?

32:02 — What separates the top 25 in the world from the rest of the pros?

34:52 — Are you a believer in taking the length out of the game?

36:20 — Who’s your favorite player?

36:44 — Who has the best swing in the game?

36:49 — Who's the best player no one has heard of yet?

37:28 — Is Matt Wolff's swing going to hold up for 20 years?

38:14 — Does Tiger Woods need to get to 18 majors to be the GOAT and do you think he will get there?

The FORT is brought to you by Straight Up Podcasts

On this episode of The FORT, Clayton and Chris discuss Clayton's journey from the banking world to discovering entrepreneurship via search funds. They discuss his acquisition of HousingWire.com and housing/construction trends over the last 90 days.

As president and CEO, Clayton Collins leads HousingWire’s corporate strategy, product and editorial roadmap, while building a world-class team of business media professionals. He is also the founder and managing partner of Riomar Capital, an entrepreneurial investment firm that acquired HousingWire in 2016. His drive to increase HousingWire’s impact earned him a spot on the 2018 Folio: 100, a prestigious list of thought leaders in the magazine and media industry. Enjoy!

Follow Chris on Twitter
For more information on Chris Powers and Fort Capital, visit www.FortCapitalLP.com

02:27 — Clayton’s Story Leading Up to HousingWire.com

03:18 — Why did you leave the banking world and purchase a media company?

05:44 — What was the search fund model experience like?

08:16 — How long was your search and how many businesses did you look at?

10:53 — Why did you choose HousingWire and how did the transaction go?

15:25 — Have you made any other acquisitions since?

16:38 — How do you value a media business?

17:48 —  How much has the business grown since you bought it?

18:43 — How is the team structured?

21:19 — How do you convince someone to use your paid service versus the many free options available?

23:34 — Who is your target market?

24:27 — What’s the environment around housing-lending like right now?

28:36 — Do you see the housing market doing well coming out of COVID-19?

32:27 — Are you able to track where the demand is?

35:37 — Do you see a wave of people motivated to sell right now?

36:48 — Has COVID shined a light on any new housing innovations?

38:58 — Do you have any insight on changes in residential construction costs?

40:00 — Are there any companies that you have your eye on in Fintech or REtech?

42:38 — Do you have any insight on the single-family rental sector?

44:35 — First-Time Homebuyer Trends

48:10 — Smaller Home Trends

50:18 — Clayton's Thoughts on Airbnb Post-COVID

The FORT with Chris Powers is brought to you by Straight Up Podcasts

On this episode of The FORT, Chris provides a 60-day COVID-19 update where he'll touch on topics like the reopening of capital markets and the effects we are seeing in the multifamily & industrial sectors. Chris also shares the latest changes and updates happening at Fort Capital such as their property management integration and new software tools built by the team. Enjoy! 

Learn more about Fort Capital and Chris at www.FortCapitallp.com
Follow Chris on Twitter

00:49 — Capital Markets Opening Back Up

02:10 — New Deals in the Multifamily & Industrial Space

03:36 — Update on the State of Texas

05:35 — Rents & Reliefs

08:14 — Industrial Sector in Texas

09:04 — The Fort Capital Portfolio & The Rush to Texas From The Coasts

10:55 — Multifamily & Industrial Collections

12:05 — Construction is Still Booming

13:41 — 'Work From Home' Becoming the New Future

15:57 — Fort Capital's Buying Plan

18:00 — What Fort Capital Has Done the Last 30 Days Operationally

19:28 — CORE in Fort Capital’s Culture

21:08 — Construction Costs & Predictions for Oil & Gas

22:12 — Fort Capital Property Management

23:38 — Fort Capital's Use of the FOS Platform

26:41 — Go Watch 'The Last Dance' on ESPN

The FORT with Chris Powers is produced by Straight Up Podcasts

James Hill is the Chief Strategy Officer / Fort Worth Market President at Access Bank. He has 12+ years of expert banking experience, specializing in commercial and real estate lending. Born and raised in Fort Worth, Texas, James is a graduate of the Business Honors Program at the University of Texas at Austin as well as TCU, receiving his MBA in the Accelerated Program. He is currently adjunct faculty in the finance department of the business school at TCU and was elected to the Tarrant Regional Water District Board in May 2017.

On this episode of The FORT, James and Chris dive deep into the world of banking, lending, and the importance of having a great relationship with your banker. Chris also touches on how the pandemic brought him to James for an in-depth "Banking 101" class in order to be as informed as possible when navigating the future. They also answer some questions from Twitter! Enjoy.

For more information on Chris Powers & Fort Capital, visit www.FortCapitalLP.com

02:26 — James’ Background

The FORT with Chris Powers is produced by Straight Up Podcasts

James Hill is the Chief Strategy Officer / Fort Worth Market President at Access Bank. He has 12+ years of expert banking experience, specializing in commercial and real estate lending. Born and raised in Fort Worth, Texas, James is a graduate of the Business Honors Program at the University of Texas at Austin as well as TCU, receiving his MBA in the Accelerated Program. He is currently adjunct faculty in the finance department of the business school at TCU and was elected to the Tarrant Regional Water District Board in May 2017. 

On this episode of The FORT, James and Chris dive deep into the world of banking, lending, and the importance of having a great relationship with your banker. Chris also touches on how the pandemic brought him to James for an in-depth "Banking 101" class in order to be as informed as possible when navigating the future. They also answer some questions from Twitter! Enjoy. 

For more information on Chris Powers & Fort Capital, visit www.FortCapitalLP.com
Follow Chris on Twitter

02:26 — James’ Background 

03:53 — Not Being the “Prototypical” Banker

05:40 — Relationships Are Important During COVID

07:13 — How do you view your relationship with borrowers and how should borrowers think about their relationships with their bank? 

10:25 — How do banks set their reserve methodology?

12:30 — If a loan is going into default, are the banks the first to lose out but also make interest?

13:11 — How does the bank approach a potentially bad situation?

15:59 - What happens when you have a good relationship with a bank but you're about to be in a default situation?

21:02 — If a bank has a lot of bad loans on its balance sheet, does that affect its ability to borrow from the Federal Government?

21:44 — If you have personal recourse on a loan, and the delta was not met, how do they figure out how it's paid out over time?

23:55 —   How do non-recourse loans work?

28:28 —  Should I move everything over to one bank or should I use multiple banks?

29:33 — When were you notified about the idea of PPP, what did the process of implementing it into your daily life look like as a banker?

32:36 — Question from Twitter for James: “To what extent does the reputation of the borrower matter?

34:37 — What are the 'C’s' in your credit program? 

35:14 — What might change in banking coming out of the crisis?

36:57 — What does it mean for a bank to be more well-capitalized now vs. during the ’08 crash?

38:24 — Foreclosure Protocols Across Different States

40:34 — Pinpointing Value In This Climate

42:05 — If I have a loan maturing in the next 4-5 months, how does one evaluate whether to extend their loan?

48:21 — Given the current environment, when are banks suggesting is a good time to buy again?

50:55 — How do you start a bank and how much liquidity do you need to get one up and running?

53:07 — Where is the banking industry headed over the next decade?

The FORT with Chris Powers is produced by Straight Up Podcasts

Adam Blake is a real estate and technology entrepreneur that has started, scaled, and exited multiple ventures and private equity-backed companies. He and Chris met early in their studies at Texas Christian University as they developed their own real estate careers.  

Adam has played a huge role in Chris's life as he served as the inspiration and provided the mentorship that led Chris to make his first real estate purchase during his freshman year at TCU.  They have since held a close relationship over the last 16 years.  On this pod, they talk about Adam building his first real estate company in college, his first million dollar deal, pivoting into Solar software, the process of exiting multiple companies, and his thoughts on a future with COVID-19. Enjoy! 


To learn more about Chris Powers and Fort Capital, visit www.FortCapitalLP.com

Follow Chris on Twitter! @FortWorthChris


02:05 — Adam’s Story and What Lead Him to Be an Entrepreneur

06:32 — Adam’s Father and The Impact His Death Had on Him

07:38 — How did your first real estate company come together while you were at TCU?

11:08 — When was the first time you did a deal that made you a significant amount of money?

12:34 — How did you raise the money for that deal at only 18 years old?

13:34 — Adam’s Experience Winning The Global Student Entrepreneur of the Year Award & Meeting Chris Powers

15:41 — Adam’s First Million Dollar Deal

17:18 — Adam’s Journey Through The '08 Recession and His Success Through a Dallas Condo Deal

21:31 — Moving to Kansas City and Pivoting Away From Real Estate and Into the Solar industry

23:51 — What did you like about the solar industry and what was your experience like growing & exiting this company?

28:50 — You started building software at Brightergy yet how does a non-technically oriented leader create a software culture?

32:32 — Why did you exit the solar industry? What mistakes were made during this process that you’ll never forget?

37:23 — Is there anything you would’ve done differently in the selling process?

39:16 — How did you get the inspiration for your next company, Zego?

42:10 — What made you decide to sell Zego at an early stage?

46:05 — Should more people take the route you did in selling Zego?

47:57 — What is it about Vista that makes them such a great PE company?

49:17 — How do you develop an "awesome" product?

50:52 — How has your perspective changed over time with a wife, 4 children, and a son with Autism?

53:58 — Adam’s Son

56:17 — Adam’s Core Values in His Weekly Rundown and How He Came Up With This Concept

58:36 — What are you thinking, seeing, and feeling right now as it relates to the COVID-19 situation?

1:01:49 — What do you see happening for yourself in the next year?

1:06:05 — Does this give you a different perspective as to what your next career move will be?


The FORT is produced by Straight Up Podcasts

Brent Beshore is the Founder & CEO of Permanent Equity, a family of companies investing in family-owned companies.  Permanent Equity invests with no intention of selling and with little to no debt.  Brent published "The Messy Marketplace" in 2019 as a resource to "demystify the buyers, the process, and the inevitable emotional journey that is selling a company".  Permanent Equity has been a leader providing valuable content and resources to small businesses all over - especially in the midst of the COVID crisis.  In this episode, Brent and Chris discuss Permanent Equity's navigation through the pandemic, Brent's Safe Harbor project, 'The Small Business Toolbox', outlooks for life after COVID-19, and much more. Enjoy! 

For more information on Chris Powers and Fort Capital, visit www.FortCapitalLP.com
Follow Chris on Twitter! @FortWorthChris

01:04 — Can you recall the specific moment when you realized how real COVID-19 was?
02:33 — What data are you seeing that’s most alarming to you?
06:24 — How do you invest in a market like this where it’s a win-win right now?
10:48 — Are there any additional filters that you’re adding into the questions for buying a business right now?
13:30 — Can you explain what Safe Harbor is and what interesting things have come of it?
16:13 — What is the 'Small Business Toolbox' and how do you decide what to write next?
18:37 — What is the biggest challenge you’re facing today that you feel you lack wisdom on?
21:03 — If you could consult a crystal ball about the future, what would you like to know so you can change your trajectory?
23:35 — What happens when a business shuts down but needs to start back up again?
28:45 — What's your outlook on the rest of the year?
33:43 — Is there anything you want to see come out of Washington?
36:45 — What do you think is going through Warren Buffet’s head right now?
38:40 — What is your haircut going to be?

Books Mentioned:  Living Life Backward by David Gibson
The Fourth Turning: An American Prophecy by Neil Howe and William Strauss
For more on Permanent Equity: www.permanentequity.com

The FORT with Chris Powers is produced by Straight Up Podcasts