Shape The Deal - Episode #226 w/ Eddy Benoit

Social Proof Podcast

Social Proof Network

Entrepreneurship, Business

5 • 2K Ratings

🗓️ 7 March 2022

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Eddy Benoit, Jr is President & CEO of The Benoit Group, a real estate development and investment company that focuses on mix-income housing, independent senior living, and other mix-use developments. Owning multi-unit real estate in over 7 states is an incredible accomplishment. In this episode we discuss :

Owning over 600 Million Dollars in real estate assets under the umbrella of The Benoit Group.
What it takes to own large real estate developments : skyscrapers and malls.
Building affordable housing for seniors : one of the MOST IN DEMAND REAL ESTATE OPPORTUNITIES.
The power of having a diversified business: pivoting from a high risk business to a low to moderate risk business.
Finding deals BEFORE THE BROKERS: why this is THE PLAY in real estate acquisition.
Scaling to a BILLION DOLLAR portfolio.

And so much more!

*** Join the Podcaster’s Blueprint***

http://www.podcastersblueprint.com

Become a part of our Patreon Family : https://www.patreon.com/DavidNeverSleeps⁣

Join David’s Morning Meetup For Just $1⁣

http://www.themorningmeetup.com⁣

Eddy On IG : https://www.instagram.com/eddybenoitjr/

David on IG http://www.instagram.com/sleepis4suckers

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

Click on a timestamp to play from that location

0:00.0	Fortunately for me, when I got into the business, it was right during the recession of the late 80s,
0:06.0	92, 93, 94. We were coming out of the recession. And I was able to work around guys that had
0:14.0	been into business and had lost everything. And they had to start over. And those stories left
0:21.2	an indelible mark on me. I was like, wow. And they always taught me that, look,
0:26.9	had they had a chance to do it over. You know, what they would have done was once they saw the
0:33.1	signals of a financial crisis coming, you know, they would have, you know, made deep cuts,
0:39.6	changes within their organization, but also from that point, they would have restructured their
0:46.4	business operations to have the risk side, but also the services side to balance the business.
0:52.4	Because in the down times, your services size, you can pretty much predict what those inflows are.
0:59.8	Okay, especially when you have certain business that are interdependent of each other,
1:04.6	you have a portfolio here. I'm still, if I'm not building new properties, I will still have
1:09.5	4,000 some odd units under management. Okay. So my management company may not grow, but it still
1:15.8	gets that stream of income, you know, from our properties because we still have to operate them.
1:20.8	We still, the construction management company may not oversee four or five projects a year,
1:26.7	but guess what, we still have to do capital repairs on those units. Okay, so they can focus on
1:34.0	the capital repairs on our portfolio. They don't have to go out there and seek a lot of
1:40.7	outside business because guess what, other developers have the same issue. They're not,
1:44.7	if I'm not developing, other developers are not developing. Sure, for sure. Okay, so
1:49.6	having a diversified business that was vertically integrated was going to be key to help
1:56.0	overcome, you know, some of these financial real estate cycle states, you know, just don't know
2:01.6	when they're coming. And the other thing is is was changing our risk profile. When my previous partners,
2:07.3	we were too high risk. We're doing anywhere from affordable housing, you know, student housing
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Social Proof Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Social Proof Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.