REI180: The Intersection of Education and Real Estate w/ Kevin Clark

Millennial Investing - The Investor’s Podcast Network

Patrick Donley sits down with Kevin Clark to talk about how he broke into Commercial Real Estate at the age of 30 after getting a Master’s in Real Estate Finance at NYU. They get into what it takes to survive and succeed in the first year at a CRE brokerage, how to think about cap rates and the factors that influence them, and why he feels real estate isn’t an inflation edge.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

03:32 - How his first fix and flip near 8 Mile in Detroit went.

05:04 - What he learned serving as his own GC on a gut renovation of a New York co-op.

07:13 - Why he earned a Master’s degree in Real Estate Finance at NYU.

07:25 - How the freedom of a remote job allowed him to make the transition to real estate.

11:20 - Why having a background in finance is a huge advantage in CRE.

16:07 - How he broke into CRE with Massey and Knakal and what his first year was like.

16:07 - Why you shouldn’t consider work from home options if you are early in your career.

32:14 - What his top advice is for people just entering into CRE brokerage.

42:14 - How Kevin is trying to disintermediate brokerage on rental apartments with Cribdilla.

50:40 - What he feels are the best strategies during a negotiation?

01:03:22 - Why he feels real estate isn’t an inflation hedge.

01:03:34 - How to understand cap rates, why they are important, and the factors that affect them.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Robert’s book The Everything Guide to House Hacking.
• Never Split the Difference by Chris Voss.
• Capital Ideas by Peter Bernstein.
• The Big Short by Michael Lewis.
• Rich Dad Poor Dad by Robert Kiyosaki.
• Richer, Wiser, Happier by William Green.
• Related episode: Listen to REI168: The Road to Commercial Real Estate Success w/ Matt Lasky, or watch the video.
• Related episode: Listen to REI155: Building a Boutique Property Empire w/ Moses Kagan, or watch the video.

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Connect with Patrick (@jpatrickdonley): Twitter

Connect with Kevin Clark: Twitter

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