In today’s episode of the Asset Management Mastery Podcast, we speak with Dallon Schultz, Cofounder and Managing Partner in Empire Assets, about the value of jumping into development deals, learning by doing, and leveraging the experience of others. Dallon specializes in investor relations, market research, and analyzing properties. He is also a licensed Realtor in the state of Arizona and is continually educating others on how to get involved with investment real estate. Tuning in, you’ll learn more about the development deal Dallon is working on, how he learned about development by getting his hands dirty, and the importance of “getting all your ducks in a row,” as Dallon says, and doing your due diligence. Make sure not to miss this informative episode!
Key Points From This Episode:
- An introduction to Dallon Schultz, his background in nursing, and how he got into real estate.
- Learn more about the development deal Dallon is working on in Phoenix.
- Why you would choose development over multifamily acquisitions.
- How he learned about the various moving parts of development by getting his hands dirty.
- The importance of having all your ducks in a row and anticipating upcharges.
- Do your due diligence; leverage the experience of others in development.
- Hear about the Rev X Sedona Experience and Dallon shares a coupon code for listeners.
- Dallon’s asset management superpower: placing the right player in the right position.
“A lot of moving parts in development. Looking back, it probably would have been wise to bring on a developer, someone that had that experience [but], with this being a smaller project, the best way I learned [was by] getting my hands dirty” — Dallon Schultz [0:06:54]
“Advice I could give to anyone looking to do development: have all your ducks in a row. Have all your plans and designs squared away and, if changes need to happen, anticipate an upcharge for it.” — Dallon Schultz [0:11:03]
“In the real estate space, you’ve got to know how to connect and communicate with people to get the results that you’re looking for.” — Dallon Schultz [0:16:47]
“One thing that I’ve identified, going through my experience, that has truly helped me get to where I am today, is placing the right player in the right position.” — Dallon Schultz [0:20:04]
Links Mentioned in Today’s Episode: