In this conversation, Eugene Gershman shares his journey from Moscow to becoming a successful real estate developer. He discusses the complexities of development, the importance of cash flow, and strategies for land development. Eugene emphasizes the significance of joint ventures, the challenges of raising capital, and the lessons learned from setbacks in his career. He also touches on the psychology of investing, the importance of patience, and the future of real estate investment.

takeaways

• Eugene Gershman moved from Moscow to the U.S. 30 years ago.
• He started in construction and shifted to development management.
• Development can be risky, but it doesn't have to be for the wealthy only.
• Joint ventures can help bridge the gap for new developers.
• Cash flow is crucial for protecting against market downturns.
• Land development can provide significant cash flow opportunities.
• Mobile home parks can be a viable investment option.
• Raising capital is challenging but essential for growth.
• Learning from setbacks is key to future success.
• Investors should focus on long-term strategies rather than panic selling.

titles

• From Moscow to Development: Eugene Gershman's Journey
• Navigating the Complex World of Real Estate Development

Sound Bites

• "Don't sell your land, develop it."
• "Don't over-leverage yourself."
• "Real estate always goes up in price."

Chapters

00:00From Moscow to Development Management

05:12Understanding Joint Ventures in Development

10:37Strategies for Land Development

16:05Raising Capital in a Challenging Market

21:56The Investor Relationship: Building Connections Before Capital

30:40Creative Solutions in Real Estate: Learning from Failures

37:30Market Resilience: Holding On Through Downturns