Episode 42 - Robert Wittig | Diamond State Management
In this episode, Brian has a great conversation with entrepreneur Robert Wittig. Robert is the owner and founder of Diamond State Management - a brokerage, development, construction, and property management company.
Brian & Robert discuss topics like Robert’s 50/50 paradigm when it comes to buying property and how he builds on relationships. They also get into how COVID affected Robert’s business, and how he applied the lessons he learned from the 2008 downturn. This episode will take you on an emotional journey - from discussing Robert’s relationship with Wawa and Happy Harry’s, to how he overcame his struggle with addiction, and so much more.
Listen in on Robert's incredible story. Spoiler alert: it wasn't an overnight success. This episode is a must-listen. You won’t want to miss when Robert shares his prediction of the real estate market over the next 12-24 months.
Key takeaways:
Robert is a former addict who has been sober for over three decades
Mentorship is so important to Robert because he often felt alone when he was younger trying to figure it all out
Real Estate runs through his family’s veins
Life with a business partner is a lot like a marriage
Successful businesses are full of active people
If you only have 10 minutes:
2:00 - Learn about DSM and how it began by Robert’s father in 1969
5:00 - The reward of mentorship
6:00 - Discussing growth and legacy
8:20 - The impact of starting the business with tenants like 7-11, Wendy's and McDonald’s in the 80s.
10:00 - What it’s like Identifying valuable property for tenants
14:45 - Living through four cycles of a market downturn in Real Estate
16:40 - Robert discusses his struggles with addiction and recovery, and how different that was 30 years ago
27:15 - The COVID impact
32:30 - Predictions for the next year or so in Commercial Real Estate; is this a corrective period?
35:50 - Is everyone at DSM a golf pro?
HAPPY ½ HOUR DRINKS:
Polar Seltzer - Brian gave it a 4.5 out of 5: polarseltzer.com/
Read more about Robert
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