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The Intrinsic Value Podcast - The Investor’s Podcast Network

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

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 24 April 2023

⏱️ 95 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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 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. 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. 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 Kevin Clark: 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 Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP. What problem are we solving in this sale? You don't say that necessarily, but everybody is selling for a reason. Either they think the market's so high that the time is to get out, but that's usually the last reason, right? Usually it's, I've got dead, I'm sick and tired of this, I want to move to Florida, I want to do something else, right? So what problem, how can I help you solve the problem you want to solve? And the way to do that

0:24.5

is to get you talking. Hey, everybody. In this week's episode, I got to sit down with Kevin Clark

0:32.1

to talk about how he broke into commercial real estate at the age of 30 after getting a master's

0:36.7

degree in real estate finance

0:38.0

at NYU. You also hear Kevin's thoughts on what it takes to survive and succeed in the first

0:43.3

year at a commercial real estate brokerage, how to think about cap rates and the factors that

0:47.5

influence them, and why he feels real estate isn't an inflation hedge. Kevin is the founder, broker,

0:53.6

and real estate advisor at Realty Advisors Group,

0:56.6

and he's also an adjunct professor of real estate economics and market analysis at NYU.

1:01.7

I really enjoyed hearing how Kevin broke into commercial real estate after getting his

1:05.6

master's degree and then started working at Massey and Knackle in New York. Also, if you've ever been confused about cap rates, why they're important, and the factors

1:14.2

that influence them, Kevin gives a master class on it in the interview.

1:18.3

And so, without further delay, let's jump into this week's episode with Kevin Clark.

1:49.9

You are listening to Real Estate 101 by the Investors Podcast Network, where your hosts, Robert Leonard and Patrick Donnelly interview successful investors from various real estate investing niches to help educate you on your real estate investing journey. Hey, everybody, welcome to the Real Estate 101 show.

1:52.6

I'm your host today, Patrick Donnelly.

1:54.2

And with me today is Commercial Real Estate broker and advisor as well as a professor

1:58.8

of real estate at NYU, Kevin Clark. Kevin, welcome to the show.

2:02.7

Hello, how are you? I'm doing great. I'm happy to have you here today. And I've got this theory

2:08.3

that I want to test out on you. I feel like a lot of people that end up successful in commercial

2:13.1

real estate or real estate in general come from a background of family members that are somehow

2:18.3

one way or another involved in real estate. And I wanted to see if that was the case for you,

2:23.0

if you came from a family of real estate people, or did you have somebody that inspired you

...

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