The Journey From A Family Office Intern To Becoming A Real Estate Development Mogul

In this episode of Money Moves, Matty A. sits down with Anthony Scavo, a seasoned real estate investor and developer, to discuss the current state of the commercial real estate market. They dive into topics such as the importance of adaptability in uncertain times, the nuances of self-storage and industrial investments, and the impact of economic cycles on real estate strategies. Anthony shares valuable lessons from his extensive experience working with major family offices and navigating the challenges of today's market.

Time-Stamped Show Notes:

[00:00:00] - Introduction and welcoming Anthony Scavo to the show
[00:00:24] - Overview of Anthony's background and the evolution of Basis Industrial
[00:01:31] - Transitioning from self-storage development to acquiring existing properties
[00:02:39] - The early stages and growth story of Basis Industrial
[00:04:00] - Anthony’s experience working with prominent New York real estate families
[00:06:01] - The importance of patience and understanding economic cycles in real estate
[00:09:27] - The impact of monetary policy and inflation on the real estate market
[00:11:21] - How Basis Industrial navigates high-interest environments and finds deals
[00:16:33] - Strategies for managing capital and maintaining investor confidence
[00:19:00] - Anthony’s outlook on the future of multi-tenant industrial properties
[00:22:29] - The challenges and opportunities in converting office buildings to residential
[00:25:40] - Being bullish on Florida's growth and identifying promising markets
[00:28:21] - Predictions for Q3 and Q4 of 2024 and potential market shifts
[00:32:00] - Anthony's thoughts on the future of the office sector and potential conversions
[00:37:01] - The importance of relationships and reputation in real estate investing
[00:41:31] - Basis Industrial’s buy box criteria and how to connect with them
[00:44:35] - Key business and life lessons from Anthony’s career in real estate
[00:48:12] - The value of hard work, resilience, and staying open-minded in business
[00:49:12] - Closing remarks and final thoughts

Notable Quotes:

"You gotta be aware of those moments... when you meet someone that you want to be close to, make the effort to get close to them." - Anthony Scavo
"There's no handouts. I know everyone wants that, but there's nothing like that." - Anthony Scavo
"The crock pot always tastes better than the microwave." - Matty A.

Links and Resources Mentioned:

Connect with Basis Industrial:

Email: zoe@basisindustrial.com
Email: ahmad@basisindustrial.com
Website: Basis Industrial

Calls-to-Action:

Get Involved with Basis Industrial: Reach out to learn more about investment opportunities with Basis Industrial.
Stay Connected: Follow Matty A. on Instagram and other social media platforms for more insights.
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Closing Remarks:

Anthony Scavo emphasizes the importance of hard work, patience, and adaptability in the ever-changing real estate market. His insights offer valuable lessons for both seasoned investors and those new to the industry. Matty A. wraps up the episode by encouraging listeners to stay focused on their long-term goals and continue investing in their personal and professional growth. Tune in next week for more expert advice and actionable strategies on Money Moves!

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