43 min
457: Lack Of Local Knowledge Equals Risk Street Smart Success
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- Entrepreneurship
Real Estate is a block-to-block business where an intimate lack of local knowledge can be costly. It’s critical to know the nuances of a submarket and the different neighborhoods to mitigate risk. Eddie Ring, Founder and CEO of New Standard Equities, only buys in markets he knows like the back of his hand. Eddie specializes in value-add multifamily on the West Coast and has generated 29% IRR’s and equity multiples of 2.6 over three to five years hold periods. Eddie sticks with what he knows, as opposed to exploring other markets, and has generated incredible returns for his investors.
Real Estate is a block-to-block business where an intimate lack of local knowledge can be costly. It’s critical to know the nuances of a submarket and the different neighborhoods to mitigate risk. Eddie Ring, Founder and CEO of New Standard Equities, only buys in markets he knows like the back of his hand. Eddie specializes in value-add multifamily on the West Coast and has generated 29% IRR’s and equity multiples of 2.6 over three to five years hold periods. Eddie sticks with what he knows, as opposed to exploring other markets, and has generated incredible returns for his investors.
43 min