1107: Industrial Real Estate Investing Strategies to Achieve Higher Returns, Relationship Building, and Avoid Gambling Risks in Business with Principal at Brit Properties Joel Friedland

Monday, May 13, 2024

Industrial real estate is a key part of the property market that encompasses a variety of spaces used for industrial activities, such as manufacturing, production, distribution, and storage. Unlike commercial or residential real estate, industrial properties are often located outside urban centers, typically in designated industrial zones. These properties are highly sought after due to their potential for high returns and lower operational costs, making them a valuable asset in an investor's portfolio.

Joel Friedland is a seasoned industrial real estate professional with over 42 years of experience in the industry and is currently a Principal at Brit Properties. He co-founded Epic Savage Realty Partners in 1991 and has since overseen the leasing and sales of over 2,000 industrial properties, totaling more than $2 billion in brokerage volume and $250 million in acquisitions. Today, Joel shares his insights on the unique aspects of the industrial real estate market, including the benefits of investing in this sector, the strategies he employs to market and acquire properties, and the importance of avoiding impulsive, "gambling" behavior as an entrepreneur.

Quotes

“As an entrepreneur, whether in real estate or any other business, you have to figure out how good your decisions are, how solid your due diligence is, and how much you really know. You must avoid making stupid, impulsive decisions.” – Joel Friedland

"I love talking to people and building relationships with those who are interested in better self-awareness. That’s what I love—it’s my favorite thing to do." – Joel Friedland

“It's all about long-term relationships. I find that loyalty is number one—being loyal to each other, to your friends, and to your business associates. Long-term relationships are key.” – Joel Friedland

Takeaways

00:57 Industrial real estate offers a unique opportunity to invest in a less competitive market with higher returns and lower risk compared to traditional residential or commercial real estate.

10:54 Successful industrial real estate investing requires a proactive marketing approach, including leveraging industry networks, online platforms, and direct outreach to find both properties and tenants.

16:23 Avoiding excessive debt and maintaining an all-cash, no-mortgage investment strategy can help mitigate risk and provide stability during economic downturns.

20:36 Developing self-awareness and avoiding impulsive, "gambling" behavior is crucial for entrepreneurs and investors to make sound, informed decisions.

31:06 Building long-term relationships with investors, tenants, and industry professionals is a key driver of success in the industrial real estate sector.

Resources

Podcast: Play in new window | Download (Duration: 32:56 — 45.4MB) | Embed

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