✅Starting a business? Find a mentor or work for a successful company in your industry to learn valuable lessons, systems, and best practices to accelerate your success.
✅Avoid the mistake of trying to do everything yourself. Build a team of specialists you can trust to handle different aspects of the business for greater scalability and efficiency.
✅Focus on recession-resistant markets with strong population growth and pro-business environments for long-term success in real estate development.
In this episode 148 of "Failing to Success", Shannon Robnett, CEO of SRI, shares his experiences and advice for entrepreneurs. He emphasizes the importance of seeking mentorship or working for successful companies to gain valuable insights. Shannon learned the hard way that trying to do everything himself led to costly mistakes. Now, he advocates building a reliable team of specialists to handle different aspects of the business. He highlights the significance of being boots on the ground and learning from real-world scenarios. Shannon's expertise lies in ground-up multifamily and industrial development, focusing on recession-resistant markets like Raleigh-Durham and Boise. His conservative underwriting and abundant mentality have propelled his business forward, allowing him to execute seven to ten deals annually.
Timestamps:
00:00:00 Highlights
00:00:38 Boots on the Ground
00:01:00 Lessons Learned
00:03:49 What it Takes to Construct Multifamily Buildings
00:05:39 Favorite US Cities to Develop Projects
00:09:16 Types of Financing
00:11:24 Advice to New Entrepreneurs
00:15:51 Contact Shannon
