The real estate investor is engaged in vastly complex networks of individuals and institutions that somehow have to develop, secure, and support a community around every asset, portfolio, or agreement.
THERE IS MORE TO REAL ESTATE THAN EXIT CAP RATES
The tools that investors rely upon, such as the lease, the mortgage, the joint venture agreement, the limited partnership, the co-mingled fund, the separate account, and many
other contractual and structural agreements, allows real estate to create and maintain the structures that define and enrich civilization.
Only a strong trust network could put the collective savings of millions of people to
work building and growing the cities and communities that support those same people.
Only investment managers proficient at creating and maintaining those networks are
likely to succeed.