Shannon Robnett

Shannon is the founder and leading real estate developer and investment of Shannon Robnett Industries (SRI) based in Boise, Idaho. Being in the real estate industry for over 40 years, and in the Boise market for 25 years, he can definitely say that experience is the best teacher. Shannon and SRI has been involved from start to finish on a variety of construction projects totaling over 200 billion dollars. In this episode, Shannon talks through a lot of the logistics and background behind the cash flow scenarios in value add versus ground up development. He believes that mindset is everything, and having the proper mindset partnered with great focus on details is his secret recipe for success.

Important Points in This Episode

• Shannon gives a short glimpse of his life: his experience in growing up with his parents who are both involved in real estate, his first time in buying and closing a deal at 20 years old and how it got him hooked in the real estate business
• He talks about how he started his business and how he was able to build it up to over $200 million in transactions
• His tried and tested process of selling a property, his business model, and how it works
• Shannon elaborates how syndicators act as value added to the deal
• How the market cycle works by raising money in a scale fashion
• Shannon describes the Boise market situation in the 2020
• The domino effect of being in a pandemic in the real estate business
• What areas are Shannon focused on and how the different sectors are going to play
• Shannon talks about his main focus: multifamily and on industrials
• Reasons why industrial is currently in the spotlight
• The full picture of multi tenants industrial
• Shannon gives his opinion on retail
• His current dealings on work force type housing to class A and senior housings as well
• How looking at the demographics of an area helps in finding an opportunity
• Best part about being a real estate syndicator and the ideal partner or client
• Mistakes made and lessons learned

Resources

• Brian Rose and Robert Kiyosaki of London Real Podcast
• Never Split the Difference Book by Chriss Voss
• Shannon Robnett’s Facebook
• Shannon Robnett’s The Real Estate Run Down Podcast
• Shannon Robnett website
• Shannon Robnett Linkedin

Quotes

• “I probably saw real estate things at a young age that most people shouldn’t see.”
• “I’m kinda like the guys that hit homeruns in the major league baseball, you know… I hit one every once in a while, singles and doubles on a daily basis, but every once in a while you hit one like that.”
• “When you’re consistent at showing up and doing your deal, you can continue to make the strives that put you in place to be there for the next one.”
• “There’s a lot of people that are willing to pay an absolute premium for me to answer all those questions for them.”
• “Syndications are fairly easy model, all I got to do is create an online presence.”
• “I’ve always believed that the world is a pyramid: and not a pyramid scheme, like, you get somebody else to pay for your life, but a pyramid where there’s a lot of guys out there with 10 grand, there’s less guys with a hundred grand, there’s less guys with a million, and finding that guy with a hundred million dollars is pretty rare.”
• “Everybody is doing everything they can, and there’s just nothing left to give. So what happens in the next couple of years? Who knows? But it’s a great time to be in production on products, that’s for sure.”
• “Without having to try and learn new markets, I can look at what we did down the road, I can see what happened in this area.”
• “Your mindset is everything that makes you who you are in this business, staying positive, staying after it and who you surround yourself is also part of that.”
• “Everybody is here to help each other; everybody IS really here to help each other. They’re here to help you underwrite your deals, help you evaluate.”
• “The greatest thing about real estate is playing with Uncle Sam’s money.”