Right out of college, Joel went to work for a family real estate business in Chicago where he was mentored in all things real estate; specifically industrial brokerage. After some time Joel broke away from that company amicably and started his own brokerage business. At its height, Joel was managing over twenty brokers.
These days his main focus is managing their existing industrial portfolio of 16 industrial class B/C buildings and growing their ~200 person investor base so they can continue to acquire more assets.
We talked to Joel about all things industrial real estate investing, relationships, and his all cash philosophy!
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[00:01] Opening Segment
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How Joel found his comfort in brokerage in 1981;
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37 industrial real estate deals in his first year as a broker;
[06:42] Industrial Properties 101
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How to find infill industrial class B/C class properties;
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The story of buying Bob Steiner’s building;
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What to look for when investing in industrial real estate
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How to be secure in industrial real estate deals;
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The differences between investing in industrial properties from other commercial real estate asset classes;
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The all-cash philosophy;
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[26:56] Round of Insights
Apparent Failure: Borrowing money for promissory notes
Digital Resource: Josh Spector’s Newsletter
Most Recommended Book: The E-Myth
Daily Habit: Talking to his mentees and mentors
#1 Insight for Industrial Investing: If you go so low risk that if things go bad, you can still survive.
Best Place to Grab a Bite in Chicago: Charlie Beinlich’s
Contact Joel:
To learn more go to britproperties.com. You can listen to Josh Specter’s podcast by clicking here.
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