Board Member and Industry Perspective with Fred Tuomi
Season 00 | Episode 22
In this episode, host Randy C. Norton speaks with Fred Tuomi, the former President, Chief Executive Officer, and Director of Invitation Homes Inc. (NYSE:INVH), the nation’s largest single-family rental company. Prior to Invitation Homes, Fred was the President of Property Management and Operations at Equity Residential (NYSE:EQR). From his storied career and industry perspective, Fred discusses common traits of successful long-term investors, perpetuating problems within the real estate industry, solutions to fix them in the future, and how real estate is the great enabler for all commerce and community throughout the world. Observe and listen to the sage advice of an industry titan.
(0:49) Fred’s background (8:33) What trends Fred saw during the crises of the 80's, and how they can inform solving problems in the future (10:21) Fred’s activity during the financial crisis of 2008 (13:09) Common traits among bold investors (16:20) The perpetuating problems in the real estate industry (19:15) the lessons from real estate cycles (19:45) Capitalism with economic theory of supply and demand (22:30) Job #1 of the residential housing industry (25:00) How large is the opportunity set for Multigreen? (26:48) What is required to build 40,000 units by 2030 (28:21) Is it possible for MultiGreen to go public? (34:14) Fred’s biggest “expectation” for MultiGreen
Additional mentions John Lie-Nielson & George Lane Johnstown Properties & Consolidated Capital Prentice Hall Real Page Tax Reform Act of 1986 Savings and Loan Crisis Real Estate Securitization Sam Zell Equity Residential 2007-2008 Financial Crisis Risk Capital Tom Barrack Colony Capital Jon Grey Blackstone Economic Theory Pros and Cons of Going Public Dallas, Texas Scottsdale, Arizona San Diego, California
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