RE #198: Eric Weatherholtz - Partner at Healy Weatherholtz Properties - 'Simple little things compound into big things and everybody wins.'
Eric Weatherholtz, co-founder of Healey Weatherholtz Properties has worn many hats in his career from leasing agent, property manager, construction manager, financial analyst, framing laborer, electrician's apprentice, and investment manager. Healey...
Eric Weatherholtz, co-founder of Healey Weatherholtz Properties has worn many hats in his career from leasing agent, property manager, construction manager, financial analyst, framing laborer, electrician's apprentice, and investment manager. Healey Weatherholtz Properties owns and operates a real estate portfolio that includes retail, office, warehouse, residential, parking, and self-storage assets. They invest in private real estate occupiers including a variety of retailers and restaurateurs. As an investment sponsor, HWP has been involved in over 50 projects, all focused on "repairing" properties to better meet the needs of the surrounding community.
On this episode, Chris and Eric discuss how to capitalize long-term deals and bring in the first tenants, why every little detail matters, and creating the "halo" effect. Consider this a masterclass in creating a world-class destination everyone wants to hang out at and several funny stories from a career in real estate!
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Watch this episode on YouTube: https://youtu.be/K6BY4pbdUuc
(03:20) - How Eric Got into Real Estate and What He Does Within The Space
(06:39) - How do you know you’ve found the right spot to start acquiring? What matters?
(10:32) - When doing assemblages, do you care about competition coming in?
(16:21) - Do you need the commercial first before it can attract residential or vice versa?
(18:09) - How do you finance these projects?
(25:02) - Are there times when you decide to pass on properties?
(30:16) - How do you create the “magic” after buying the building?
(40:24) - How are you structuring your leases?
(42:30) - Sticking To Your Guns
(45:45) - How do you manage these properties?
(51:43) - Who stages and programs the hospitality portion of your properties?
(54:45) - How do you justify the upfront TI for local tenants? Are you able to identify local businesses w/o a track record who’ll be successful?
(58:08) - What do you say to people who think retail is dead?
(1:02:24) - What’s your edge?
(1:04:39) - Is this a scalable business model?
(1:06:54) - Wild Stories From Eric’s Career
The Fort is produced by Johnny Podcasts