Feb 2, 2021
"Transformation doesn't happen without a gameplan" - [Ira]
"A construction project is a journey, it starts long before there's a hammer swung for demolition or site protection is put in place" - [Ira]
"Happy residents is your biggest ROI" - [Ira]
"The easiest answer to how you make a high stakes decision, is you surround yourself with people, teams, and advisers that are stakeholders and that are smarter than I am" - [Ira]
"If I can have smarter people in my life, it makes my job a little bit easier" -[Mike]
"Measure twice, cut once, that is not just in the field, but that is in anything that is a planned execution of a construction component, which means we're living in the details" - [Ira]
"The way that projects get off- rail... it's a poor set of plans" - [Ira]
"That is some of the lessons I've learned in all kind of projects that we've completed, that the details matter and you've got to ask good questions" - [Ira]
"Stand for something in terms of what you are going after,...What is the business strategy outline, or roadmap for what success looks like in your company?... speak to that excellence and why it matters" - [Ira]
What is important to you?
Ira describes his personal and business focus in one word, 'Diversification'.
Building Relationships is one of the core actions that make up the '6 Mosaic Actions' at Ira's company.
A construction project is a journey, it starts long before there's a hammer swung for demolition or site protection put in place.
Sometimes the hoped-for prelim budget work doesn't align with the market conditions, where you have to go hard and go hard fast.
WiFi is a great example of a low disruption high ROI renovation in these times.
Making high stakes decisions: Ask questions, do the research, and surround yourself with stakeholders that are smarter than you.
Construction is an imperfect science, despite architecture plans and various skills set available in modern times.
Ira emphasizes the importance of planning.
If you're overspending because of a lack of planning upfront, at the end of the day that's taking away your ROI.
Ira's insider secret: Have something meaningful within the office culture, stand for something in terms of what you are going after, understand why what you're doing matters.
[02:56] Mike introduces today's guest, 'Ira Singer', a contractor to discuss construction transformation and low disruption high ROI projects in these times.
[04:21] In one word, can you describe your personal and business focus?
[04:57] What do you mean by a Relationship Builder?
[07:04] Ira shares his backstory and the paths leading up to where he is today.
[12:15] What's your passion for Real Estate?
[15:00] How do prospective owners size up renovations before closing a deal?
[18:30] Ira explains the process of working on a construction project, putting the ideas of the owner and the company together to achieve the desired outcome for the property.
[24:39] What's your secret to doing a renovation that's going to be low disruption but give the biggest ROI?
[28:12] What's your rationale process for making high stakes decisions?
[30:21] Discussing lessons learned so far.
[34:34] From your perspective and your industry, looking into the multi-family industry, give a couple of insider secrets that people need to pay attention to.
[37:08] What advice would you give a new investor today?
[42:11] The best book you've read recently?
Ditch the Pitch by Steve Yastrow
The Great Game of Business by Jack Stack
[43:50] What is the most memorable moment you have had in the last 6 months?
[44:59] How to contact Ira