Community history; something you may not think about as you plan to develop an area. If you think of any community, everyone across social, economic, and racial spectrums, has contributed to the growth and development of the community. As a developer, it is crucial that you understand that communities have a history and a legacy. Therefore, in order to make your work in those communities as smooth as possible, you should tie up your development concepts and themes to those things that the community is really known for or that they evolve towards.
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Our guest today is Herschell Hamilton. Herschell is the leading revitalization and commercial real estate developer in the southeast United States. He is the guy government agencies call when they need a strategic plan in recapturing the history of neighborhoods. He serves as a board member to the various public and private entities where he leads his expertise on asset diversification, real estate, and finance. Tuning in today, you will hear from Herschell about his company BLOC Global Group and the role they play in deals, how they set up their costing, and the importance of revitalizing communities when thinking about developing areas. As a part of their mission, they believe in the importance of legacy and understanding the communities and the history associated with them, when you plan to go in and develop areas, why you should take the time to know the who’s and do’s of communities, the role vision plays in developing your portfolio, and so much more, on today’s episode. So make sure you join us today!
Key Points From This Episode:
- More on Herschell’s background and what it is he does exactly.
- He talks us through an example of a project and what his role entailed throughout.
- Who they service as clients: a combination of continuing developers and new-to developers.
- Why they don’t develop deals and keep them for themselves: evaluation of the market conditions at that time.
- How they set up their costing: strictly fee-based.
- Revitalizing communities: what to think about as a developer.
- The importance of legacy like working in local communities: understanding every community has a history and every community has something that it’s known for.
- The who’s and do’s of a community and why you should get to know them.
- Opportunity zones and how they view the concept.
- Tips on how you can develop your portfolios through development: it starts with a vision.
- The hardest part of the development business according to Herschell: dealing with a cyclical market and managing people.
- How to manage people well: give people a voice, be patient, and being solution-oriented.
- How to prepare for a potential downturn: building contingencies.
- Herschell’s predictions for the real estate market over the next six to 12 months: being cautious in your selection process.
- Daily habits that have contributed to Herschell’s success: his daily routine; checking in personally and from a company perspective.
- The number one thing that has contributed to his success: finding good partners and creating a solid team.
- How he likes to give back: involvement in philanthropic organizations and teaching people about the history of communities.
[bctt tweet=”What we say is we deliver services from concept to closure. —@herschellhamil1″ username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Herschell Hamilton
Herschell Hamilton is the leading revitalization and commercial real estate developer in the SE United States. He is the guy government agencies call when they need a strategic plan in recapturing the history of neighborhoods. He is the co-founder and Chief Strategic Officer of BLOC Global Group. The company manages and develops complex real estate and building projects; provides commercial real estate transaction, advisory, and investment services, and corporate real estate staff augmentation services. He spent a decade as an investment banker, structuring public finance transactions, and served in various development advisory roles where he was responsible for over $500 million in bonded debt. He now serves as a board member to various public and private entities where he lends his expertise on asset diversification, real estate, and finance.
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