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Zen and the Art of Real Estate Investing with Jonathan Greene

A Mindful Journey in Industrial Real Estate Investing with Joel Friedland

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The aftermath of the 2008 real estate crash prompted a profound shift in the strategies of many real estate investors, reshaping their approaches to buying property. Jonathan’s guest on this episode of Zen and the Art of Real Estate Investing is one such investor. Jonathan interviews Joel Friedland, the co-founder of Brit Properties based in Des Plaines, Illinois. As an industrial real estate broker with over four decades of experience, Joel has orchestrated over 2,000 industrial property leases and sales, accumulating over $250 million in acquisitions.

Jonathan and Joel unpack Joel’s early encounters with real estate and the post-college journey that led him to real estate–industrial real estate, in particular. Joel reveals the reasons behind his choice of industrial assets over residential or commercial, explaining his mindful approach to investing and his preference for cash transactions in property investments. He also shares insights on resisting the impulse to hastily close a deal before conducting thorough due diligence, explores the evolving landscape of industrial property utilization over decades, and emphasizes the role of self-awareness, honesty, and mental well-being as a real estate investor. Their conversation winds down as they talk about the versatility of the industrial asset class, offering valuable perspectives for both experienced and novice investors considering their portfolios.

 

Some points Jonathan and Joel cover include:

  • With the 2008 real estate crash, Joel realized he was a compulsive real estate gambler and had unknowingly become one. That realization led him to a 12-step recovery program, consulting a therapist, and including meditation and mindfulness in his day-to-day life.

  • Joel pays cash for property purchases rather than leveraging them. Cash allows him to leave room for a margin of error.

  • Due diligence is imperative. You can’t just trust your investing partner because they may not be as risk-averse as you are. Instead, he recommends forming an “advisory committee” to figure out the details together.

 

Joel Friedland’s vulnerability, willingness to share his story, and expertise in industrial real estate are captivating in this must-listen episode.

If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/103.

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