During this episode, Neal explains what Super Value Add projects are, what drove him to start doing them, and why he would recommend them over ground-up construction projects. We also delve into the structures that Neal has put in place which allow him to do 30 projects a year and work only 35 hours a week, why he prioritizes his mental and physical health, and the plans that he has to give back to society in a very meaningful way.
A Data Scientist’s Journey in Real Estate with Neal Bawa
Neal Bawa, otherwise known as the Mad Scientist of Multifamily, joins us today for a discussion about how he has used his data science background to make a memorable mark on the real estate industry. Neal’s insatiable curiosity, his persistence, and his drive to disrupt have led to him being in charge of a $1 billion multifamily portfolio with 700 team members, not to mention that he is one of the most in-demand speakers in the commercial real estate space!
Key Points From This Episode:
- How an applied statistics course changed Neal’s life.
- Where Neal’s real estate journey began.
- An overview of what Neal’s journey in the real estate space has looked like to date.
- The three major real estate categories that Neal focuses on.
- Why Neal feels an affinity towards physicist, Richard P. Feynman.
- Neal explains why he is less bullish about Multifamily Value Add projects than he was 5 years ago.
- Challenges that Neal ran into when he decided to combine Multifamily Value Add with construction.
- The brand new equity tranche that Neal invented.
- Why building trust is a key to the success of a Super Value Add project. 27 days; the length of time it took Neal to fill his Park Canyon apartment block.
- Neal’s upcoming Super Value Add project.
- The optimal property price for a Super Value Add project.
- Why Neal would recommend doing a Super Value Add over a ground-up construction project.
- The responsibility that you have is to look after your physical and mental health when you are managing other people’s money.
- What Neal sees as the ideal number of weekly working hours.
- Neal’s 2 to 3-year plans to give back to the world in a meaningful way.