My Conversation with a Billion Dollar Developer

Recently, I got the opportunity to speak with a billion dollar real estate developer from New York. I reached out to him asking about his experience so far and any advice he could offer to a young entrepreneur. He is a very young guy for what he's accomplished (he's in his early 30s and controls over $500M in assets), and he had some great insights. He definitely left me a lot to think about as I continue growing my portfolio and getting into larger, more sophisticated deals. He asked me one question that made me think more than the others:

What do you want and why do you want it?

He asked me this after I said I really wanted to become a developer like him, make big deals and put together large projects. He then went to talk about market conditions, the amount of risk involved, and other factors that I never thought about at all. My dream of becoming a big developer hasn't changed at all, but his questions helped me to better understand myself on a deeper level. It was eye opening in a sense that it forced me to really think about why I chose to get into real estate investing in the first place. I got into real estate for absolute freedom to live life on my own terms and so I can be a rock for my family in case they ever need help. I want to retire my parents and create such a large income-base to where I never have to worry about money again.

Real estate is only the avenue to achieve these things like more time with family and friends, full autonomy to do what I want, and the ability to give back and help others. I appreciated this developer asking me these direct questions because they helped peel back the layers and dig deep to find out what really drives me to be a successful real estate investor. Then, he asked me:

How can I help you to get you to where you want to be?

This was pretty cool. Most people think of rich, successful people as snobby, pretentious, or too elite to waste time with 'average' people. From my experience, this couldn't be further from the truth. The truly successful people are very willing to give back and help people realize their vision and reach their goals. They appreciate ambitious people who have the drive and desire to get to a higher level and who want to improve. It's so important for those trying to become successful to reach out to this group and not be afraid to approach them for help or advice. Because those giving the advice were there once, too. They understand the struggles and all the intangibles it takes to make it.

Overall, while I didn't have too much to offer this developer, I was grateful for the opportunity to listen to his experiences and advice. He provided a lot of value for me in the conversation, and shifted my focus to a lot bigger things than cash flow or cap rates. If I can find a way to help him in the future, I will definitely go out of my way to do so. He helped me to further cement in my mind that while money is great, the impact that one can create through real estate investing is so much greater. Find out your 'why' and when you have success, always pay it forward.