What makes commercial real estate interesting? Jef Conn, an industrial, office and investment specialist, reveals how a company like Chick-fil-a chooses a location and why he’s always got some cash on-hand. Listen in to hear why he calls his competitors friends, why he wants a unified platform, and why he’s a con-man.
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Time Stamped Show Notes:
- 01:30 – Introducing Jef, a West Texas commercial real estate expert
- 01:45 – He is good with numbers and has a personality that fits industrial and commercial real estate; it’s very cut and dry
- 04:10 – If he comes across a homeless person or squatter, he gives them cash, respect, and asks them to leave
- 05:20 – On how Chick-fil-a chooses a location
- 05:42 – They find the best location based on demographics, neighbors, location, and average household income
- 06:50 – Using RPR to determine demographics
- 07:12 – He has access to some additional demographics because he is a CCIN
- 08:30 – They have an opportunity zone overlay for people who have money to spend; it helps disadvantaged communities
- 10:35 – Jef’s local action to protect private property rights
- 11:00 – He worked with a group to fight against law prohibiting “social gatherings” from occurring in short-term rental properties
- 13:40 – On sharing best practices with colleagues
- 14:00 – He calls his competitors friends and appreciates his association connections; they do so much for their community quietly and humbly
- 15:15 – He didn’t realize how much his colleagues give back
- 15:38 – On having one centrally-located platform
- 16:00 – He thinks having three platforms is absurd; NAR should create one
3 Key Points
- Take care of your community and help people – including squatters.
- Wealth can be built tax-free as part of the opportunity zone.
- Talk to connected people and stay posted on what’s happening in your area.