If my 25-year-old self could ask my 51-year-old self for advice, here’s what I’d say.
Real estate is cyclical. I’ve lived through multiple downturns now: in Florida, in New York, in New Jersey. Markets go up. Markets come down. That’s not a risk, it’s a certainty. The question is whether you’re positioned to survive the down cycles and capitalize on the up ones.
The answer isn’t market timing. It’s reputation.
Regardless of what the market is doing, the thing that has kept me going (through difficult projects, difficult clients, and difficult economic conditions) is a consistent commitment to honesty and integrity. Those words get thrown around a lot. But in New York City real estate development, where lawsuits are practically a standard line item on the budget, doing everything by the book isn’t just ethical. It’s strategic.
When someone asks how you got from A to Z, there can’t be any shortcuts. There can’t be any misinformation. If you build a track record of that kind of reliability, people come back to you: not just when things are good, but when things are hard and they need someone they can trust.
My other piece of advice: when times are good, save your money. Because the downturns will come.
And finally: diversify. Not just your investment portfolio, but your knowledge base. The most effective owner’s representatives I know aren’t specialists. They’re generalists who can learn quickly. I’ve become an expert in gas-fired boilers, fire alarm systems, municipal permitting across multiple states, and dozens of other things I never studied. Because the job required it.
Show up. Learn what you need to learn. Raise your hand. And never stop doing those things, regardless of the market.
