Today, am going to speak to Mott Smith’s real estate development class at USC.
The topic? Capital structures for real estate entrepreneurs… or, in other words, how to build a real estate business from scratch without starving.
Here’s the rough outline for my talk:
- First: Do good deals
- Why a small asset base is a problem
- How you survive while you grow the asset base – vertical integration
- Construction oversight
- Figuring out how to say “yes” to capital
- Alternate capital structures:
- Fee for service
- “First dollar”
- The importance of growing your fundraising network