Episode 02: Learn from Nels Billsten
Core Realty Holdings Management is focused on multi-family and light industrial properties targeting specific areas because they believe in long term needs and prospects for those categories. Obviously, housing and the ability to provide flexibility for so many people and important is focusing on sectors that are resistant to technological innovation. Nels is responsible for the acquisitions and later in the deal cycle the disposition or sale of the assets when it comes to long term. They focus and consider to be defensive, yield oriented investment and investment in markets where they believe, they don't see them as susceptible. Industrial light products, they look for 2nd generation, not brand new but there’s still extremely relevant to the world. Generally, they are not going to buy the brand new building, they typically like to try to find the opportunities that are more infill but still have the physical characteristic necessary to thrive to today's environment. They love job growth, University towns, state capitals, they’re definitely focused on the Sunbelt, the business friendly population states. Anywhere from Texas to Florida and Southern boundary but it could be anywhere from Virginia to Oklahoma as you go across the country. The Southeast Mid-south Atlantic state, Mid-south North Carolina ,Alabama, Georgia. Focus on the deals that you can actually deal with. Don’t fall in love with the deal that you’re not going to have a strong chance to acquire. Don’t try to make things fit. Your time is the most precious commodity you have as an acquisitions person, you're gonna make an account because you can’t just start chasing all the deals all over the country. Focus on being able to quickly identify the type of deal that you are looking for, that fits your model and have a solid chance of closing the deal. Core Pacific Advisors doesn't work exclusively through broker-dealers. Majority of investors do have a financial representative but for those who want to invest or inquiries, contact Mike Crimmins.