The great thing about being in the development business is that you get to bring your ideas to life. You get to improve your back yard and you get to be a part of the growth of your city with your designs. Essentially, you are playing a role in the act of breathing life into your community. Our guest today is Shannon Robnett, a passionate real estate investor who has done plenty of projects but always wants to learn more.
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He has been in the real estate industry for over 40 years and has been a builder and developer all his life. Shannon has been involved from start to finish on over $2 million in construction projects covering the gamut from multifamily, professional office buildings to City hall’s, fire and police stations, schools, industrial and mini storage. He is passionate about investing in yourself and taking that into every aspect of your real estate career. Not only that, but Shannon also places a big emphasis on being part of the development side of things because he believes that is where you can truly create the most value. Stay tuned as we dive into the topic of adding value for your investors, what it takes to be in the developer business, learning to create good habits, and much more!
Key Points From This Episode:
- More on Shannon’s background and his superpower.
- Why he chose the developer pathway, instead of becoming a realtor.
- Pros and cons of developing that new investors might not know.
- How Shannon tailors an investment for a specific investor.
- What Shannon means when a value ad is “not safe enough” — Forced appreciation.
- Market rents versus the appraised value.
- The hardest part of the development business according to Shannon: Commentators.
- How Shannon prepares for a downturn when working on a development.
- Shannon’s predictions for the next 6-12 months.
- How Shannon gained such a high level of discipline: Parental influence.
- Daily habits that transformed the way Shannon does business: Continuing education.
- A way to improve your business that Shannon applied to his: Delegate!
- His best source for meeting new investors: Becoming a thought leader in your area.
- The number one thing that has contributed to his success: Hard work.
- How Shannon gives back.
- How to get in touch with Shannon.
[bctt tweet=”When you look at true safety, what someone is saying is safe, isn’t necessarily safe, but is perceived to be safe because it is already got rents assigned to it that are supposed to be coming in. — @Robnett01″ username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Shannon Robnett
Shannon has been in the real estate industry for over 40 years. He has been involved from start to finish on over $200,000,000 in construction projects covering the gamut from multifamily, professional office buildings to City hall’s, fire and police stations, schools, industrial and mini storage.
Shannon says that there is phenomenal growth in just building, filling, and selling a product. Shannon further explains that his operation is different than most because he is looking for syndication partners that are seeking tax-advantaged situations and his main clients are using IRAs to invest; not clients looking for small monthly cash flow investments.
Another reason Shannon is different is that the majority of the projects are ground-up developments. Shannon and his team have streamlined the ground-up process making it a much more lucrative product to invest in. His team also completely rehabs a building, from pipes, roof, window, paint, everything that will keep these rehab investments profitable for 10+ years.
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