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The Intrinsic Value Podcast - The Investor’s Podcast Network

REI167: The Art of Real Estate Development w/ Asi Cymbal

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 22 February 2023

⏱️ 64 minutes

🧾️ Download transcript

Summary

Patrick Donley talks with Asi Cymbal about the inspiration his mother provided watching her lift the family’s fortunes through real estate, what he learned from a $20,000 per year job with mixed-used pioneer Howard Jacobs, how he broke into development in both New York and Miami, how the downturn of 2008 provided an opportunity that changed his life, what early retirement was like and why he choose to return to the world of real estate development. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 02:32 - Why his mom is one of his real estate investment heroes. 07:45 -What his early inspirations were for pursuing a real estate career? 07:45 - Why he chose to go to law school. 08:59 - How he found an incredible mentor at a $20,000 per year job. 11:06 - What it was like breaking into development in New York City. 15:19 - How he made the transition from NYC to Miami. 19:03 - How the 2008 Great Financial Crisis provided the opportunity that allowed him to retire. 54:25 - What retirement was like and why he choose to come back to start his current company. And much, much more!   *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.    BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Robert’s book The Everything Guide to House Hacking. Think and Grow Rich by Napoleon Hill. Good to Great by Jim Collins. Rich Dad Poor Dad by Robert Kiyosaki. Richer, Wiser, Happier by William Green. Related Episode: Listen to REI155: Confessions of a Real Estate Entrepreneur w/ Moses Kagan, or watch the video. Related Episode: Listen to REI159: From Reception to Urban Infill Developer w/ Sean Sweeney, or watch video. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick (@jpatrickdonley): Twitter Connect with Asi: Website | Twitter  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0

You're listening to TIP.

0:02.6

Great people.

0:03.3

Great people who fit the culture, who love what they're doing, who want to make an impact,

0:07.5

who care about the communities that we're impacting, and who have integrity and honesty

0:13.4

and hard work, I completely agree that the people are the most important.

0:20.4

Hey, guys, in this week's episode, I got to sit down with Miami developer

0:24.5

Aussie Symbol and talk about the inspiration.

0:26.8

His mother provided him watching her lift to family's fortunes through real estate.

0:30.6

What he learned from a 20,000 per year job with mixed-use pioneer Howard Jacobs,

0:34.8

how he broke into development in both New York and Miami, how the downturn of 2008

0:39.5

provided an opportunity that changed his life, what early retirement was like, and why he chose

0:44.3

to return to the world of real estate development. As chairman of Symbol DLT companies,

0:48.8

Asi has over 30 years of experience in real estate, development, construction, finance, and law.

0:53.7

He's a graduate of Vassar College finance, and law. He's a graduate of

0:54.7

Vassar College and UCLA Law School. He's acquired, developed, and constructed billions in

1:00.0

projects and is breaking ground on over $100 million every quarter this year at commercial

1:04.7

and residential projects. Symbol's real estate portfolio also includes significant achievements

1:10.0

including taking a $70,000

1:11.7

investment and turning it into $55 million. Asi has significant food and beverage experience

1:17.9

and has co-created and owned over half a dozen of the hottest restaurants and clubs in Miami.

1:22.8

I really enjoyed this talk with Asi, not only because we got to talk about his journey as a real

1:27.0

estate developer, but I also wanted to hear how he spent his time in early retirement and why he

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