#210: Investing In Industrial Real Estate with Joel FriedlandApr 26, 2023
Joel Friedland of Brit Properties has 42 years of experience in industrial real estate. He is currently a broker, owner, and syndicator representing the ownership of a portfolio of 15 industrial buildings and over 200 investors. Joel and I discuss investing in industrial real estate.
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Investing In Industrial Real Estate with Joel Friedland
Joel started his entrepreneurial journey at the age of 14 when he founded a landscaping business, hiring dozens of kids in his hometown to mow lawns and do yard work. After completing college at the University of Michigan, he went on to work for a family real estate business in Chicago, where he gained experience in industrial brokerage. He then started his own brokerage business, which at its peak was managing over 20 brokers.
Joel has been directly involved in nearly 100 acquisitions, totaling ~3 million square feet, and has raised over $100MM in private capital. He has been involved in over 1,600 industrial leases, including 34 in his first year at the age of 22. Joel now focuses on managing his existing industrial portfolio of 15 class B/C buildings while growing his 200+ individual investor base, so they can continue to acquire more industrial properties as assets.
After surviving the Great Recession of 2008, Joel changed his investment philosophy when it comes to debt/leverage on new buildings they buy. He is now very conservative in his investments, mainly focused on generating cash flow for his investors while protecting their capital with low-risk deals. Joel's investment strategy involves using all cash for purchasing and re-syndicating with a maximum of 30% debt.
Aside from his work, Joel is also a family man. He lives in a northern suburb of Chicago with his wife and has three adult children. One is a teacher, another is a therapist, and his youngest is in business with him. Joel's favorite hobby has always been golf, but he has replaced that recently with spending time with his three beautiful grandchildren.
So, tune in to this episode and gain valuable insights into the world of industrial real estate investing from an experienced investor who has seen it all.
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