The FORT Podcast: Jason Baxter (Part 2)
In Episode 14, Chris and Jason sit down for a 2018 in review. They discuss how their business relationship has developed, the growth of Fort and how their lives changed over the past year.
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02:13 — The Fort Operating System
07:09 — What do you think is the biggest thing as an individual that you learned in 2018?
15:03 — Expansion into The River District
24:39 — How do you think about the price that can be paid for land? What are things that can add value to land?
31:15 — Why did you decide to go to Harvard?
31:57 — What has been the most beneficial part of deciding to go back and get that education?
32:43 — What We Don’t Think About
39:24 — Trends in Retail
45:00 — The Upside of Industrial
45:37 — What is the biggest change you have recognized in yourself since becoming a dad?
48:46 — If you could have a billboard for a month in Times Square that the whole world would see, what would it say?
54:25 — The Power of Decision Making
56:05 — Biggest Reflection of 2018 — Importance of a Good Business Partner
Episode Summary
Baxter opens the discussion by emphasizing the importance of mindset and internal perspective in navigating the challenges of the real estate sector. He underscores the power of controlling one’s internal response to external events, a principle that holds paramount importance in the unpredictable realm of real estate. Baxter’s focus on personal development and self-awareness sets the tone for the conversation, as he delves into the intricacies of managing one’s reactions and responses in various situations.
The conversation then shifts to hiring practices and team dynamics, with Baxter sharing valuable insights on the importance of understanding potential hires’ personalities. He introduces the DISC profile as a tool to gauge individuals’ traits, ensuring a harmonious integration into the team and alignment with the company’s values and objectives. This approach to hiring, as Baxter explains, is crucial in building a cohesive and efficient team, ultimately contributing to the success of the business.
As the podcast progresses, Baxter discusses the dynamics of the real estate market, particularly focusing on urban development and property use. He highlights how market trends and city growth dictate the evolution of specific areas, leading to changes in property use to accommodate the rising population. Baxter’s analysis of these market forces provides listeners with a comprehensive understanding of their impact on property values and potential uses, offering valuable insights for real estate professionals and investors alike.
Baxter also touches upon the prospects of older properties near downtown areas, pointing out their potential for future redevelopment. He notes the emergence of new services like CrossFit gyms in such spaces, indicating a shift in property utilization and the opportunities it presents for innovative investors. Furthermore, Baxter shares his perspective on economic downturns, suggesting that recessions often drive innovation and create opportunities for those prepared to seize them.
Throughout the podcast, Baxter maintains a focus on the significance of reputation in the real estate industry. He stresses the impact of one’s actions and decisions on their professional standing, highlighting the lasting effects on their career. Baxter draws from personal experiences to underscore the importance of integrity and the responsibility of setting a good example, especially for the younger generation.
Baxter’s insights extend to the topic of personal growth and learning from mistakes. He encourages a reflective approach, advocating for the importance of learning from errors without causing irreversible damage to one’s reputation. This perspective, as Baxter shares, is crucial in maintaining a positive and strong professional standing in the competitive world of real estate.
In his dialogue with Powers, Baxter seamlessly intertwines personal development principles with practical real estate knowledge, creating a rich tapestry of insights for listeners. His emphasis on mindset, team dynamics, market understanding, and reputation management culminates in a comprehensive guide for real estate professionals and investors.