RG 160 – How to Get Off-Market Listings from Commercial Real Estate Brokers w/ James Young
Nuts and bolts
James Young is from Austin, Texas and is a multifamily investment broker with Newmark Knight Frank since 2010. He specialises in value-add non-institutional assets. Since 2019 James has been involved in over 200 transactions representing over $1 billion in multifamily real estate in central Texas. In 2016 and 2017 James was voted the company rising star top performer, he graduated from Baylor with honours and studied finance and international business at Maastricht University. James made his first dollar working around the house and washing cars. He also worked at a ranch in Wyoming in the summer after 8th grade where he learned that you should always be learning from people who are better than you.
He did his undergrad degree close to home so when he was offered the chance to study in The Netherlands he took it. He had school Mon-Thurs and then took the opportunity to travel on the weekend with a euro-pass for the trains. While travelling around Europe he learned about the culture which was so different to what he was used to in the US and how learning wasn’t all about grades.
James explains that the Texas real estate market feels very different to the national market. At the moment it’s feeling positive and affordable but he’s already seeing stuff in Texas that’s previously happened in the north-east and west markets where affordability is and CAP rates drive the market to become more competitive. As this increases more people are coming into the central markets of Austin etc because they’re such good places to live. The success from other markets is being replicated in Texas. Austin is very difficult to develop whereas Huston has no zoning rules. James recommends when entering the market make sure you have a good relationship with a broker.
- Most important habit – Small disciplines each day to build to bigger things
- Most influential person – His dad
- Most important tool – His team
- Most influential failure – Fail often and fail everyday
- Contact – aranewmark.com or email@example.com