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    shannonrobnett

    Explore "shannonrobnett" with insightful episodes like "Always Underwrite to an 8 CAP, with Shannon Robnett", "Multifamily Interest Rates and Cashflow with Shannon Robnett - CRE PN #400" and "BIGGEST RISK with Shannon Robnett" from podcasts like ""CRE Clarity", "Commercial Real Estate Pro Network" and "Commercial Real Estate Pro Network"" and more!

    Episodes (3)

    Always Underwrite to an 8 CAP, with Shannon Robnett

    Always Underwrite to an 8 CAP, with Shannon Robnett

    Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest is Shannon Robnett, a real estate developer and syndicator with over 35 years of experience. Shannon shares his advice on becoming a successful syndicator, selecting top-notch service providers, and managing risk in the current market. You don't want to miss out on this episode! 

    Learn more about Shannon and his story at shineinsurance.com/managing-commercial-real-estate-risk!



    “I don't like paying taxes. I'm very patriotic, but to me, that's not a patriotic duty.“

     

    01:13

    Shannon is a fourth-generation realtor. For a while, he didn’t want to work in real estate, however, after completing college, he recognized the immense financial potential within the industry. 

     

    Over the course of his 35-year career, Shannon has taken on various roles, including overseeing construction projects, working as a developer and multifamily asset manager, and investing in many deals. He started syndicating in the last few years.



    “The first thing that I try and do when I talk with an investor is make sure that they understand who they are.”

     

    06:23

    Shannon shares his best pieces of advice on how to become a successful syndicator.

    • Find a mentor and work up to your goals slowly but steadily.

    • Understand what kind of investor you are, how high your risk tolerance is, and what type of deals fit your lifestyle.

    • If you've lost money, figure out why, and don't do that again. 



    “When you're underwriting correctly, if everybody's doing it, it’s probably a really good time to not be doing it.”

     

    20:40

    Shannon shares his insights on selecting top-notch service providers while minimizing associated risks within your team. His advice is to prioritize expertise and experience over cost. Also, always think at a higher level about your business and look for the most dedicated service providers with good track records.

     

    Towards the end of the episode, Shannon shares his risk mitigation strategies in the current market. He’s always managed risk from an 8-cap standpoint. If he can’t get an 8-cap on the investment, he won't pursue it. He’s emphasizing not being influenced by the market and having a solid underwriting strategy.




    About our guest, Shannon Robnett

    Shannon is a Real Estate Developer and Syndicator with a principal focus on Multifamily and Industrial real estate in the greater Boise area. His accomplishments include:

    • Involved in Boise Real Estate Market for 35+ years

    • 2nd Generation Builder & Developer

    • 4th Generation Realtor

    • Involved in over $250MM in construction projects ranging from multi-family, office buildings, and municipal buildings to schools, industrial projects, and mini storage

    • A history of over $140MM in successful developments

    • Has under management over $100MM with a wide range of investors





    Mentioned in the show:

    1. shannonrobnett.com

    2. Robnett's Real Estate Rundown

    3. His LinkedIn

    4. Shineinsurance.com

    5. www.shineinsurance.com/managing-commercial-real-estate-risk

    6. Jeremy’s LinkedIn




    Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

     

    Special thanks to Shannon Robnett for taking the time to share so many great insights with us

     
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    Until the next time, We truly appreciate you listening.

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    If you enjoyed this episode, then you’ll love these ones:

     

    BIGGEST RISK with Shannon Robnett

    BIGGEST RISK with Shannon Robnett

    J Darrin Gross

    I'd like to ask you Shannon Robnett. What is the Biggest Risk?

     

    Shannon Robnett  

    You know, in my business, the Biggest Risk is taking on the project and having things like prices increase on commodities. You know, we started a construction project. And our lumber costs estimate went from 3 million to 9 million. We locked in on the way up and caught it at about five and a half million, but it was still a two and a half million dollar Upswing on that. Those are the risks that we take as developers on brand new ground up. And so there's always that question that you have to ask and it comes back to your underwriting? Do you have the runway to absorb this? Can you get from here to there so that you're not, you know, your framing is in the first third of your job? If you've used all your contingency in the first third of the job? How are you going to finish the rest without additional cash? So are you properly capitalized? Have you underwritten correctly? Do you know that three years from now when you're built out on a 200 unit apartment complex that you've you're going to be able to sell those are the risks that we take that that sometimes keep me up at night?

     

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