In this episode, John McNellis shares his extensive experience in real estate development, from law to retail centers, and offers invaluable insights for aspiring investors and developers. Discover how patience, risk management, and partnerships can lead to success in real estate.
Chapters
00:00 Introduction and Guest Background
00:27 John McNellis’s Journey from Law to Real Estate
01:04 Writing the Book: Inspiration and Process
02:28 Key Lessons from the First Edition of the Book
05:22 Who the Book is For and Its Impact
06:02 What Has Aged Well in the Book
07:27 Partnerships: Longevity and Dynamics
08:45 Partnership Disagreements and Dynamics
10:04 Legal Skills and Deal-Making Advantage
14:25 Legal Advice and Common Pitfalls
18:59 Passive Investment in Real Estate
21:09 Misunderstandings in Retail Real Estate
25:14 Projects in California and Permitting Challenges
26:18 Concessions and Negotiation with City Authorities
29:15 Longest Development Approvals and Lessons Learned
33:30 Deals Passed On and Lessons from Failures
34:24 Quick Deal Analysis and Site Walks
36:05 Due Diligence and Deal Screening
37:08 Losing Money and Learning from Mistakes
39:14 What Separates Successful Real Estate Investors
41:49 Starting in Real Estate: Advice for Beginners
43:37 Transitioning from Residential to Development
44:46 Final Advice and How to Connect with John
John’s Links:
https://www.linkedin.com/in/john-mcnellis-b6a1674/
https://www.amazon.com/Making-Real-Estate-Thriving-Developer-ebook/dp/B0GHNNGLWR
Here’s the link to my book: https://www.amazon.com/Value-Over-Foundation-Commercial-Investing/dp/B0DNN14NLQ
Want to learn more about CRE? investbeyondmultifamily.com/course
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