Becoming A Top-Five CoStar CRE Advisor With 1,400 Closings With Randy Blankstein

“I think if you have enough money for your property, and meaning a million of equity or more, you should buy your property because there's a level of control that you can get with a DST. So again, I think there's nothing wrong with DSTs. It's a control issue and a kind of a secondary market issue. So I think it's better for smaller investors and sole ownership, it's our focus is better for larger investors.”

Randy Stein is a Senior commercial real estate executive with over 30 years of experience focused on advisory services in the single-tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2020. He founded and managed net leased companies on both the advisory and principal sides that have been involved in over $6 billion in single-tenant transactions. Currently, the Chair of the Net Lease Summit Conference. In 2014, 2019 and 2020 received an Honorable Mention for Net Lease Executive of the Year by Commercial Property Executive magazine. In 2018, I was inducted into RE Journals Real Estate Magazine's Commercial Real Estate Hall of Fame.

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Brett: 

I'm excited about our next guest. He's what I like to call a Hall of Famer when it comes to all things commercial real estate. In fact, he's the president of the boulder group out of Chicago and in 2014 19 and 20. He received the Honorable Mention for net lease Executive of the Year by commercial property executive magazine. In 2008, he was inducted into the real estate Journal's Real Estate magazines commercial real estate Hall of Fame. And for decades from 2009 to 2020. was ranked by costar as one of the top five commercial real estate advisors in the nation. With just over 1400 completed transactions. Please welcome to show with me, Randy Blankstein. Randy, how are you doing, sir? 

Randy:

Good! How are you, Brett? Thanks for having me.

Brett: 

And it's Blankstein? I mean, pronounce that correctly? Blankstein? Yes. And so for our listeners getting to know you for the first time, Randy, would you give us a little bit more about your background and your current focus?

Randy:

Sure, I mean, I've been in the age myself a little bit, been in the commercial real estate business for 30 years now, primarily and almost exclusively as an owner of a boutique. net lease investment brokerage company called the border group. You know, we focus on retail office and industrial for single-tenant properties, names like Home Depot, Walgreens, Dollar General, etc, you know, we coordinate with and with the name of your show passive income, mostly through, you know, triple net ownership of, you know, people mostly at the end of their career looking to get out of multifamily or other active management property into more passive investing, you know, like triple net lease single-tenant, which really requires you to collect a check for the most part and is our primary focus.

Brett: 

Excellent love that we're going to dive into some of those strategies and some of the thoughts on building your, your brokerage and how you help your clients. But I want to start this first question to help myself and our listeners get to know you for the first time. You know, I believe we've all been given certain gifts in this life, Randy, and some people call them superpowers, some people call them strengths, I believe they've been their God-given gifts. And these gifts have been given to us to be a blessing and have helped others. So I want you to go back maybe to your college days or your high school days, and maybe you can identify, you know, maybe one or two gifts that you believe you were given? And how do those gifts help how you help people today?

Randy:

In a counterintuitive sense. You know, I think one of my main success points in this business has been because I'm an introvert, and this is primarily an extroverted business. And I think being an introvert is allowed me to, you know, stand out because you end up spending more time listening than talking. And, you know, kind of just differentiate yourself in this business where a lot of people like to talk and say a lot of things, you know, I tend to gather information, more fact-based, more research base, and then, you know, I'm able to relate in that, in that way. A lot of my extroverted friends and competitors, you know, tend to say a lot more things, you know, off the cuff or work more on the relationship. And I spend more time focusing on, you know, the client needs, the property, property level specifics, and things of that nature. And I think, you know, being kind of quiet or an introvert in the space, but people will tell you, it's probably not the primary people that you'll run into that have really helped me out over time.

Brett: 

That's really powerful. And I think I think you could write a whole book on just that. Itself by the way to learn more about Randy Blankstein at bouldergroup.com and Blankstein, I'm sorry, Blankstein, it's on a fight that right if that Ein right.

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